Qualified Allocation Plan (QAP): Per federal requirements, the North Carolina Housing Finance Agency (NCHFA) develops an annual QAP to competitively allocate federal Low-Income Housing Tax Credits to affordable housing projects across the state. The QAP includes geographic distribution and income limit requirements. The NCHFA can only allocate credits in conformance with the QAP. Section 202 (Direct Loans): The Section 202 Program was authorized by the federal government in 1959. While the program has evolved over the years, it has either provided direct loans or capital advances from the federal government for low-income senior housing development. From 1959 to 1990, the program provided below market-rate direct loans, generally at 3% interest for up to 50 years, to non-profit organizations. In addition, from 1974 to 1990, loans were further subsidized by Project-Based Section 8 contracts. In 1990, funding shifted from below market-rate direct loans to capital advances. Section 202 and 811 (Project Rental Assistance): The Section 202 (Supportive Housing for the Elderly) Program provides capital and operating funding to non-profit organizations that develop and operate housing for very low-income seniors, while the Section 811 (Supportive Housing for Persons with Disabilities) Program provides funding to entities that develop and operate housing for low-income people with significant and long-term disabilities. Both programs provide project rental assistance contracts (PRAC), which subsidize developments’ operating expenses. Residents pay 30% of their adjusted income towards rent, and the PRAC makes up the difference between rental income and operating expenses. Section 515 (Direct Loans): The USDA Rural Development Housing and Community Facilities Programs Office began making subsidized mortgage loans through the Section 515 (Rural Rental Housing Loan) Program in 1963. This program provides mortgages at 1% interest to non-profit and for-profit developers to build multifamily rental housing that is affordable to low- and moderate-income households in rural areas. Loan terms are 30 years, with principal amortized over 50 years. Tenants pay basic rent or 30% of their adjusted income, whichever is greater. Special Assessment Districts (SAD): In a SAD, a local government provides a specific public benefit to a group of properties and imposes a special assessment (extra tax) on them to pay the costs of providing the benefit. In North Carolina, local governments can create two types of SADs, traditional and critical infrastructure, but only critical infrastructure SADs currently include affordable housing provision as an allowable purpose for which a special assessment may be charged. Supportive Housing: Supportive housing is affordable housing that also includes support services intended to help tenants stay stably housed and build necessary life skills. Supportive housing can be designed to be either permanent or temporary for residents, with temporary housing targeted towards individuals who may be able to transition to traditional housing without support services over time. Supportive housing has proven to be a successful tool to house populations that may be difficult to serve with traditional housing, such as chronically homeless adults.