BISMARCK, ND – December 9, 2009 – (RealEstateRama) — The North Dakota Housing Finance Agency (NDHFA) is soliciting pre-applications for funding under the federal Neighborhood Stabilization Program (NSP). The Agency is anticipating that up to $1.3 million will be available.
“The funds can be used to purchase and rehab single-family homes and other residential properties that have been abandoned or foreclosed upon in order to sell, rent or redevelop the properties,” said Jolene Kline, NDHFA planning and housing development division director. “The grant dollars can also be used for demolition of blighted structures, and redevelopment of vacant buildings or land.”
Eligible properties must be located in Minot, West Fargo, Mandan, Jamestown, Dickinson, Williston, Grafton, Wahpeton, Lincoln, Devils Lake, Valley City and Casselton; within 25 miles of the identified cities; or on the state’s four Indian Reservations.
Priority in the funding round will be given to applications that involve activities addressing the a) purchase, rehabilitation and resale of foreclosed or abandoned property; or b) the redevelopment of foreclosed or abandoned property AND that benefit households at or below 50 percent of area median income.
The pre-applications must be received in the NDHFA office by the close of business on Jan. 15, 2010. Materials can be found on the Agency’s website or by contacting Jolene Kline at (701) 328-8080 or (800) 292-8621.
“Over the past year, North Dakota Housing has awarded more than $6 million dollars in NSP funds,” said Kline. “These grant dollars are providing safe, decent and affordable housing for homeless individuals and the elderly, and in areas impacted by the energy industry – much needed workforce housing.”
The federal Housing and Economic Recovery Act of 2008 funded the NSP. North Dakota is eligible for $19.6 million. The funds currently being offered by the NDHFA are deobligated, turned back by communities that were unable to commit the grant dollars.
