24 NCAC 01M .0204. SELECTION PROCEDURES

(a) In distributing program funds, the partnership shall develop an allocation formula that will promote the distribution of funds across the state based on population and very low-, low- and moderate-income housing need as defined in G.S. 122E-6(a). Population will be estimated using the most recent state population estimates available from the Office of State Planning. Very low-, low-, and moderate-income housing need will be estimated using the most recent available U.S. Census data for household income, housing affordability and housing condition. (b) If applications received by the applicable deadline are insufficient to utilize all of the funds allocated to a funding cycle, geographic region and urban or rural area, the partnership, may extend the application deadline.