A BILL TO BE ENTITLED
AN ACT to authorize the department of commerce to provide grants to regional councils of government in order to convene and organize regional ECONOMIC recovery alliances in each region and to appropriate funds in each of the next two fiscal years for this purpose.
The General Assembly of North Carolina enacts:
SECTION 1.  Of the funds appropriated to the Department of Commerce, there is allocated from the Community Development Block Grant program funds the sum of three hundred thousand dollars ($300,000) for each of the fiscal years 2008‑2009 and 2009‑2010. These funds shall be used to provide grants of one hundred thousand dollars ($100,000) to regional councils of governments for activities that will help local governments develop and manage economic stimulus projects, thereby increasing economic activity, stimulating investment, and improving job retention and economic growth. The regional councils shall convene and organize regional recovery alliances by bringing together stakeholders including local governments, homebuilders, real estate professionals, community oriented banks, mortgage lenders, local economic developers, nonprofit community development organizations, housing counseling agencies, chambers of commerce, and major employers. Three pilot grants of one hundred thousand dollars ($100,000) shall be made on a competitive basis to qualifying regional councils in the mountain, piedmont, and coastal regions based on the presentation of a proposed work plan.
SECTION 2.(a)  The Regional Economic Recovery Alliances created in accordance with Section 1 of this act shall mobilize economic stimulus efforts at a regional level tailored to market conditions and the needs of local governments in the region. The Alliances shall pursue the following purposes:
(1)	Help local governments apply for and manage federal stimulus projects in accordance with guidelines and requirements in the American Recovery and Reinvestment Act.
(2)	Keep families that are facing foreclosure in their homes.
(3)	Prepare families for equity building homeownership.
(4)	Organize projects and financing that will put homebuilders, crews, and trades people back to work building and renovating homes.
(5)	Assemble financing for economic development projects, including affordable housing projects, from federal, State and other sources.
6.	Promote construction projects that will meet regional needs and foster sound, sensible growth.
SECTION 2.(b)  The Regional Economic Recovery Alliances shall build on work currently underway in many regions through the federal EDA, HOME, CDBG, and Weatherization programs, as well as programs of the North Carolina Housing Finance Agency, Department of Environment and Natural Resources, the North Carolina Rural Economic Development Center, and the Department of Commerce in order to leverage the use of public investments.
SECTION 3.  For fiscal year 2008‑2009, the Commerce Department shall make funding available from funds that have not been committed under the Economic Development funding category. For fiscal year 2009‑2010, the Commerce Department shall make funds available for this purpose from the Economic Development category in the 2009 Community Development Block Grant program approved by the United States Department of Housing and Urban Development, supplemented by funding appropriated to the State under the federal American Recovery and Reinvestment Act.
SECTION 4.  This act is effective when it becomes law.