BISMARCK – August 12, 2013 – (RealEstateRama) — The North Dakota Housing Finance Agency (NDHFA) has committed more than $20 million from the Housing Incentive Fund (HIF) to 18 projects across the state.
NDHFA in National News |
NDHFA in Social Media |
“The need for affordable housing is felt in communities statewide,” said members of the North Dakota Industrial Commission in a joint statement at their recent meeting. “NDHFA selected projects that address one of the state’s most critical needs – housing for police officers, teachers, nurses, waitresses, clerks, and elderly and disabled households.”
The 2013 Legislature reauthorized HIF at $35.4 million with a priority of providing housing for essential service workers (ESW) in energy-impacted counties and preserving and providing for low- and moderate-income households.
NDHFA received 26 applications totaling more than $36 million. Applicants that set aside units for ESW received a scoring preference. More than half the successful applicants reserved units specifically for ESW. The projects selected include:
• Beach – $350,000 to Luretto Bay 7 to construct Luretto Bay 7, 12 units. 6 units for ESW. Total project cost $1.4 million.
• Bismarck – $361,683 to Community Homes of Bismarck, Inc. for the North 19th 4-plex, 5 units. Total project cost is $1.2 million
• Bismarck – $425,000 to Independence Point, LP to construct Independence Point, 24 units. Total project cost is $3.8 million.
• Devils Lake – $385,269 to Agassiz Properties LLLP to construct Agassiz Circle Phase II, 8 units. Total project cost is $1.29 million.
• Dickinson – $1.42 million to Sullivan Properties, Inc. for Sullivan Apartments, 30 units. Total project cost is $4.79 million.
• Dickinson – $200,000 to Heritage Hills I LLLP for Heritage Hills, 42 units. Total project cost is $8.19 million.
• Dunn Center – $700,000 to Lutheran Social Services Housing for Dunn Center Apartments, 18 units. 6 units for ESW. Total project cost is $2.32 million.
• Fargo – $1.14 million to Beyond Shelter, Inc. for North Sky I, 24 units. Total project cost is 2.86 million.
• Hettinger – $932,400 to Lutheran Social Services Housing for Courtside Village, 24 units. 12 units for ESW. Total project cost is $3.06 million.
• Lignite – $1.27 million to Lignite Investments, LLC for Lignite Housing Project, 28 units. 9 units for ESW.
• Mandan – $1 million to Dakota Commercial & Development to construct Collins Place, 29 units. Total project cost is $3.89 million.
• Minot – $2.25 million to SW Design Build to construct Rolling Ridge Estates, 48 units. 24 units for ESW. Total project cost is $7.5 million.
• Turtle Lake – $450,983 to Turtle Lake Housing Authority for Turtle Lake Community Housing, 8 units. Total project cost is $1.5 million.
• Watford City – $1.2 million to McKenzie Healthcare Systems to construct McKenzie Healthcare Systems Employee Housing, 24 units. 18 units for ESW. Total project cost is $3.6 million.
• Watford City – $1.48 million to Wolf Run Village, Inc. for Wolf Run Village, 42 units. 18 units for ESW. Total project cost is $6.72 million.
• Watford City – $725,000 to the Girard Family Trust for adaptive reuse of the McKenzie Ranger District Station Apartments, 9 units. All of the units for ESW. Total project cost is $2.43 million.
• Williston – $3 million to Dakota Commercial & Development to construct Williston State College Housing Phase II, 74 units. 43 units for ESW. Total project cost is $10 million.
• Williston – $3 million to Renaissance Station LLC for Renaissance on Main, 45 units. 23 units for ESW. Total project cost is $10 million.
An ESW is defined as an individual employed by a city, county, school district, medical or long-term care facility, the state of North Dakota, or others determined by NDHFA to fulfill an essential public service. To qualify for these rent-restricted units, a household’s primary source of income must come from employment in the ESW-identified field.
HIF received a $15.4 million general fund appropriation from the state. The balance of the fund must be capitalized by taxpayer contributions.
“Before any of these projects can break ground, the fund must have contributions adequate to cover the conditional commitments,” said Jolene Kline, NDHFA acting executive director. “Contributing to HIF is a simple yet highly effective way to help North Dakota communities build safe, decent and affordable housing for all their residents.”
Individuals and businesses contributing to HIF receive a dollar-for-dollar state tax credit. Contributions can be directed to a specific project or community. NDHFA is authorized to issue tax credit certificates to contributors on a first-come, first-served basis up to a maximum $20 million. Contributions to the fund currently stand at more than $1.1 million.
Contributor and developer information is available online at www.ndhousingincentivefund.org or by contacting Kline or HIF Program Administrator Bill Hourigan at (800) 292-8621 or info (at) ndhfa (dot) org. Applications for the next funding round must be submitted by 5 p.m. (CDT), Monday, Sept. 30.
The Industrial Commission of North Dakota, consisting of Gov. Jack Dalrymple, as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring, oversees NDHFA.
Media Contacts: Sarah Mudder, (701) 328-8056 or smudder (at) ndhfa (dot) org
