FARGO, N.D. – July 20, 2015 – (RealEstateRama) — U.S. Senator Heidi Heitkamp, a member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, today announced more than $1 million in federal funding to provide affordable housing options to low-income families in Fargo.
“In North Dakota, we have seen the cost of homes skyrocket in recent years,” said Heitkamp. “The growth in our state has led to many rewards, but it has also caused a housing shortage that has made it difficult for families across the state to afford places to live. These federal funds will help make a difference by providing safe and accessible housing, and equipping Fargo housing advocates to better assist their community.”
The funding is distributed between the following awards:
Community Development Block Grant (CDBG) – $668,706. The funds will assist in providing housing and increasing economic opportunities for low-income and moderate-income residents.
HOME – $347,113. The funds will assist in increasing the supply of quality, affordable housing to low-income and very low-income families based on Fargo’s needs.
The funds are authorized by the U.S. Department of Housing and Urban Development.