BISMARCK, ND – December 28, 2011 – (RealEstateRama) — North Dakota Housing Finance Agency (NDHFA) issued the following statement in response to a $1.2 million contribution to the North Dakota Housing Incentive Fund (HIF) by U.S. Bank.
“I would like to thank U.S. Bank for contributing to the HIF and supporting the development of safe, decent and affordable rental units for North Dakota families, seniors and workforce,” said Mike Anderson, NDHFA executive director. “There is a critical need for housing in North Dakota and this contribution will help fill the gaps in financing that slow down construction and keep good projects from being built.”
“Without support like U.S. Bank has provided through the HIF, it is very difficult to develop new housing and keep the rents at affordable levels,” said Jolene Kline, NDHFA planning and housing development division director. “These funds and the other contributions from taxpayers across North Dakota will go to work this spring, making an immediate impact for our communities.”
Any individual, business or financial institution with a state income tax liability can contribute to HIF. In exchange, the contributors receive a dollar-for-dollar credit against their state income tax liability that may be fully claimed in the year their contribution is made.
As the fund administrator, NDHFA is authorized to accept contributions to the fund up to $15 million. The fund is to be capitalized solely by state income and financial institution taxpayers.
More information on HIF is available at www.ndhousingincentivefund.org or by contacting Jolene Kline or Bill Hourigan at info (at) ndhfa (dot) org, (701) 328-8080, (800) 292-8621, or (800) 366-6888 (TTY).
The Industrial Commission of North Dakota, consisting of Governor Jack Dalrymple, as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the NDHFA.
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North Dakota Housing Finance Agency
2624 Vermont Avenue, PO Box 1535, Bismarck, ND 58502-1535
Bismarck Main Office — (701) 328-8080 | ND Toll Free (800) 292-8621 | Fax (701) 328-8090 | TTY (800) 366-6888
