Housing fund backs six projects

BISMARCK — The North Dakota Housing Finance Agency has pledged $4.25 million to six new Housing Incentive Fund projects.

The Housing Incentive Fund, which is funded by contributions from state taxpayers, provides low-cost financing to developers of affordable rental housing. The latest projects that have been approved are:

— Belfield, $96,000 to construct four units for Belfield law enforcement. Total cost is $744,484.

— Crosby, $1 million to St. Luke’s Community Foundation to construct the Crosby Hospital and Foundation 24-plex. Total cost is $3.6 million.

— Devils Lake, $1 million to Agassiz Properties LLP for a 30-unit project. Total cost is $3.6 million.

— Killdeer, $1 million to Prairie Gold Real Estate LLC to construct 24 units. Total cost is $3.3 million.

— Minot, $155,600 to the Minot Housing Authority to rehabilitate Oakwood Court. Total cost is $389,000.

— Williston, $1 million to Dakota Commercial for Williston Heights, a 65-unit project. Total cost is nearly $10.5 million.

Since the incentive fund was established last fall, the North Dakota Housing Finance Agency has pledged more than $14 million to support projects that will create 630 new rental units.

Applications for what is anticipated to be the final funding round this year are due by Aug. 31. About $750,000 is available.

Tags: north dakota, updates, news