BISMARCK, ND – October 30, 2009 – (RealEstateRama) — The North Dakota Housing Finance Agency (NDHFA) has awarded more than $6.5 million to cities and non-profit organizations through the federal Neighborhood Stabilization Program (NSP).
“Working hand-in-hand with community leaders and non-profit organizations, the staff at North Dakota Housing Finance Agency is ensuring that the funds provided by the NSP address the need for quality affordable housing for special needs households and working families,” said Gov. John Hoeven, chairman of the State Industrial Commission which oversees the NDHFA.
“NSP funds make it possible to provide safe, decent and affordable housing for the homeless, disabled and elderly, and in areas impacted by the energy industry – much needed workforce housing,” said Agriculture Commissioner Doug Goehring.
“In North Dakota, we are fortunate to have low foreclosure numbers and little demand to redevelop such properties,” said Attorney General Wayne Stenehjem. “We do need affordable housing in many areas, and we are putting NSP funds to work to address that demand.”
Funds dispersed include:
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Minot Vocational Adjustment Workshop – $695,800 to build eight rental units in Belcourt for special needs households.
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Turtle Mountain Housing Authority – $1,529,220 to build 24 rental units in Belcourt to address long-term homelessness, and $60,500 to buy a foreclosed single-family home in Belcourt.
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Lake Agassiz Habitat for Humanity – $395,500 to redevelop four abandoned or foreclosed single-family properties in Cass County.
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CommunityWorks North Dakota – $537,100 to buy and redevelop 5 single-family homes in eligible communities statewide, and $400,000 to build a 28-unit multi-family housing project in Mandan.
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Lutheran Social Services Housing, Inc – $193,000 to build 8 rental units in Parshall, and $450,000 to build 24 rental units in Watford City.
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City of West Fargo – $780,000 to build 28 units of affordable rental housing for seniors.
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City of Williston – $1.5 million to build 51 units of affordable rental housing.
NSP regulations require that at least 25 percent of the allocated funds involve the purchase, rehabilitation and resale of foreclosed or abandoned property; or the redevelopment of foreclosed or abandoned property and that serve households at or below 50 percent of area median income.
The Industrial Commission of North Dakota, consisting of Governor John Hoeven, as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring, oversees the NDHFA.
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For more information, please contact Sarah Mudder at (701) 328-8056 or smudder (at) ndhfa (dot) org
