Mortgage is restructured to adjust to the reduction in rental subsidy. Tenants can send written comments to N.C. Housing Finance Agency regarding the condition of the property and their apartments. Tenants can also review the proposed restructure plan, meet with the Finance Agency representatives, and comment on its plan prior to it being submitted to HUD for approval. Renewal makes the property affordable for 30 years. Owners with rents below market may increase their rents to market level and renew the Section 8 contract.
Renewal is for five years.
West Hill Apts. Mountain Villa Apts. Stewart's Creek Apts. Village Green Apts. Meadow Oaks Apts.