BISMARCK, ND – December 22, 2008 – (RealEstateRama) – The North Dakota Housing Finance Agency (NDHFA) is soliciting pre-applications for Neighborhood Stabilization Program (NSP) grants.
“The Housing and Economic Recovery Act of 2008 funded the federal NSP which, in turn, is providing grant dollars to acquire, rehabilitate or demolish foreclosed and abandoned properties,” said Jolene Kline, NDHFA planning and housing development division director.
Eligible uses or activities in North Dakota include the purchase, rehabilitation and resale of foreclosed properties; demolition of blighted structures; and redevelopment of demolished or vacant properties.
“The NDHFA and the North Dakota Department of Commerce (DOC) applied for $19.6 million in NSP funds through the US Department of Housing and Urban Development (HUD),” said Kline. “The Cities of Fargo, Bismarck and Grand Forks will receive an allocation of funds that will be administered by the DOC. The remaining $6.6 million will be administered by the NDHFA for a statewide program.”
Eligible for the NDHFA-administered funds are the cities and surrounding areas of Minot, West Fargo, Mandan, Jamestown, Dickinson, Williston, Grafton, Wahpeton, Lincoln, Devils Lake, Valley City and Casselton. The Spirit Lake, Standing Rock, Fort Berthold and Turtle Mountain Indian Reservations are also eligible. The areas eligible for funds were determined based on foreclosures and sub-prime mortgages in the state.
The DOC and NDHFA are anticipating final approval of the North Dakota’s state plan early next year. In anticipation of this approval, NDHFA is soliciting pre-applications for the statewide funds. Deadline for submission is Jan. 15, 2009.
Pre-application materials are attached and can be found on the NDHFA website . Questions should be directed to Jolene Kline at (701) 328-8080, (800) 292-8621, (800) 366-6888 (TTY), or info (at) ndhfa (dot) org.
