BISMARCK, ND – January 24, 2012 – (RealEstateRama) — The North Dakota Housing Finance Agency (NDHFA) is soliciting pre-applications for $728,550 in funding through the federal Neighborhood Stabilization Program (NSP).
“The intent of the program is to revitalize neighborhoods by redeveloping abandoned or vacant properties,” said Jolene Kline, NDHFA planning and housing development director. “We are anxious to put the money to work in eligible North Dakota communities.”
Pre-applications will be accepted for activities involving the redevelopment of foreclosed, abandoned, or vacant properties into permanent housing. Preference will be given to applications involving rental housing. Eighty percent of the total funding was identified in NDHFA’s Abbreviated Plan as being available for activities creating affordable housing.
The NSP funds are only available for use in targeted census tracts in the following communities of Alexander, Belfield, Bowman, Dickinson, Fargo, Glenburn, Grand Forks, Mohall, Ray, Rolla, Rolette, Sherwood, South Heart, Tioga and Williston.
An eligible property must be located within a census tract that has a needs score of 4 or greater. The US Department of Housing and Urban Development’s (HUD) mapping tool can be used to determine the needs score of any given location, www.huduser.org/NSP/NSP3.html.
Pre-applications must be received in the NDHFA office by the close of business on March 30, 2012. More information is available on the Agency’s website or by contacting Jolene Kline at (701) 328-8080 or (800) 292-8621.
The NSP was originally created under Title III of the Housing and Economic Recovery Act of 2008 and the State of North Dakota received $19.6 million for the redevelopment of abandoned and foreclosed homes and properties. All of those funds have been obligated.
Additional funding was authorized under Section 1497 of the Dodd-Frank Reform and Consumer Protection Act of 2010 and it is referred to as NSP3. NDHFA was awarded $5 million. NDHFA’s first round of NSP3 pre-applications resulted in commitments of $4,271,450 for three projects (two in Tioga and one in Belfield).
The Industrial Commission of North Dakota, consisting of Governor Jack Dalrymple, as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring, oversees the NDHFA.
