North Dakota taxpayers encouraged to support Housing Incentive Fund
BISMARCK, ND – November 14, 2013 – (RealEstateRama) — Sixteen projects have been selected to receive the balance of the affordable housing development support available through the North Dakota Housing Incentive Fund (HIF).
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“With the public-private partnerships promoted by the Housing Incentive Fund, we are taking an active role in addressing the state’s affordable housing needs,” said Gov. Jack Dalrymple, “I encourage businesses and individuals to continue to contribute to the fund so that all of these projects can move forward.”
Since May, the North Dakota Housing Finance Agency (NDHFA), administrator of the fund, has made commitments totaling $36.9 million for 34 projects in two application rounds. The North Dakota Industrial Commission (Commission), consisting of Dalrymple as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring, oversees the agency.
“The program funding will spur more than $150 million in affordable housing development statewide,” said Stenehjem. The Commission oversees the state’s housing development efforts and urged the legislature to reauthorize HIF during the 2013 session.
“The demand for affordable housing is seen in communities large and small,” said Goehring. The projects supported by the program are located in Arnegard, Beach, Bismarck, Burlington, Crosby, Devils Lake, Dickinson, Dunn Center, Fargo, Grafton, Hettinger, Jamestown, Lignite, Mandan, Minot, New Rockford, Turtle Lake, Watford City and Williston.
NDHFA made commitments to the first 18 projects this summer. In total, HIF will support the development of 934 housing units with 220 units set aside to house essential service workers, a legislative priority.
Approximately one-third of the developments will provide housing for special needs households including disabled, homeless and elderly individuals and families.To ensure that the housing units are affordable, the fund must be capitalized by state taxpayers. Contributions can be targeted to a specific project or for general use in a community or region. Individuals and businesses contributing to the fund receive a dollar-for-dollar state tax credit.
“Contributing to HIF is a simple yet highly effective way to help North Dakota communities build housing that is affordable for all their residents,” said Jolene Kline, NDHFA acting executive director.
The agency has until Dec. 31, 2014, to fully capitalize the fund.
To learn more about the projects selected or how to contribute to the fund, contact Kline or Bill Hourigan at (800) 292-8621 or info (at) ndhfa (dot) org. Information is also available online at www.ndhousingincentivefund.org.
NDHFA is a self-supporting state agency that finances the creation and rehabilitation of affordable housing across North Dakota.
Media Contact: Sarah Mudder, (701) 328-8056 or smudder (at) ndhfa (dot) org
