North Dakota Housing - Affordable Housing Funds

    • North Dakota Housing - Affordable Housing Funds

      North Dakota Housing - Affordabke Housing Funds

      Applications are due Friday for the North Dakota Housing Incentive Fund. The fund has received one housing project proposal from Minot, which could get up to 30 percent equity from the fund to help reduce the amount of permanent debt for that project.

      At the Elmer Jesme Conference meeting today, a group made up of northwestern counties, the program was first on the agenda, addressing how local governments can apply for assistance. The two year program has already had requests for $4.3 million of the $15 million dollars available. With the increasing populations not expected to peak until 2020, the program director says it’s important in order to continue the availability of affordable housing.

      “As of June 30th, the program is done, unless it is reinstated by the legislative in the spring of 2013. So we of course will be lobbying hard to have this program made permanent. And even increase the funding level depending on what the final need is,” says Jolene Klein, Director of Planning and Housing Development.

      A deed restriction is attached to the funded properties in order to ensure the affordable units created with the program will remain affordable for 15 years.

      This is an extract from KFYR-TV