(a)        The North Carolina Housing Partnership is hereby created within the North Carolina Housing Finance Agency to establish policy, promulgate rules and regulations, and oversee the operation of the Fund. The Partnership shall be constituted to coordinate private enterprise and investment with public efforts to address the serious shortage of decent, safe, and affordable housing for low and moderate income citizens of this State.

(b)        The Partnership shall consist of 13 members as follows:

(1)        The Executive Director of the North Carolina Housing Finance Agency shall serve ex officio;

(2)        The Secretary of the Department of Commerce or his designee shall serve ex officio;

(3)        The State Treasurer or his designee shall serve ex officio;

(4)        In accordance with N.C. Gen. Stat. § 120-121, five members shall be appointed by the General Assembly upon the recommendation of the President Pro Tempore of the Senate, provided that one member shall be a representative of the homebuilding industry, one member shall be a low income housing advocate, and one member shall be a representative of the League of Municipalities;

(5)        In accordance with N.C. Gen. Stat. § 120-121, five members shall be appointed by the General Assembly upon the recommendation of the Speaker of the House of Representatives, provided that one member shall be a representative of the real estate lending industry; one member shall be a representative of a non-profit housing development corporation; and one member shall be a resident of low income housing.

The members of the Partnership shall elect one of their members to serve as Chairman for a term of one year. Seven members of the Partnership shall constitute a quorum. All members shall have the right to vote on all issues before the Partnership.

(c)        Members of the Partnership shall serve for three year terms. Initial terms shall begin on September 1, 1987. Appointed members shall serve until their successors are appointed and qualify.

(d)       Vacancies in the offices of any appointed members shall be filled in accordance with N.C. Gen. Stat. § 120-122 for the remainder of the unexpired term. No vacant office shall be included in the determination of a quorum. No vacancy in office shall impair the rights of the members to exercise all rights and conduct the official business of the Partnership.

(e)        Members of the Partnership shall receive as compensation for each day spent on work for the Partnership such actual expenses as may be incurred for such travel and subsistence in the performance of official duties and such per diem as is allowed by law for other such State boards and commissions. Members shall not receive a salary for the performance of their duties as members.

(f)        The Partnership shall have the following powers and duties:

(1)        To promulgate rules and regulations governing all policy matters relating to the implementation of all programs for uses of the Fund and the Partnership’s oversight of the Agency’s administration of the Fund.

(2)        To promote the development of a coordinated State low income housing plan.

(3)        To obtain necessary information from other State agencies concerning housing; and

(4)        To allocate monies contained in the Fund.

(g)        The Partnership may appoint an Executive Director. The Executive Director shall be empowered to employ such additional professional and clerical assistance as the Partnership may deem necessary to administer the provisions of this Chapter. All employees of the Partnership, other than the Executive Director, shall be compensated in accordance with the salary schedules adopted pursuant to the North Carolina Human Resources Act. The Partnership and the Agency may enter into agreements for the use of Agency staff to assist the Partnership and the provision of administrative support for the Partnership by the Agency.

(h)        The Partnership shall meet quarterly and can meet more regularly upon the call of the Chairman or upon written request of four members.

(i)         Members of the Partnership may not receive any direct benefit from, or participate in, the programs of the Fund. Members of the Partnership may be employed by, or serve as a board member of, a nonprofit entity participating in a program of the Fund if the member discloses the employment or the membership in the minutes of the Partnership and does not vote on any matter pertaining to the entity’s participation. This policy applies to:

(1)        Individual members of the Partnership;

(2)        Businesses, corporations, or partnerships owned in whole or in part by members of the Partnership; and

(3)        The immediate family members of the members of the Partnership. ?(1987, c. 841, s. 1; 1989, c. 727, ss. 218(84), 223(c); c. 751, ss. 7(12), 9(c), 16; c. 754, s. 53; 1991 (Reg. Sess., 1992), c. 959, s. 31; 1995, c. 490, s. 25; 2013-382, s. 9.1(c).)