NC Section 8 project funding shortfall

[Tara G.]

Is there anyone out there with Section 8 multifamily projects in NC? HUD has stopped making payments on our project and I hear on 250 other projects in NC. I have heard from my Greensboro office that they have run out of money and congress has not gotten around to make the nescessary appropriations.

This logic is difficult for me to digest given this is mid-year and all the funds are allocated previous year.

Anyone with experience or insights?

Thank you,
Rye.