Published December 11, 2012, 01:33 PM
Housing fund coming up short in ND oil country
Contributions are lagging for a fund aimed at building affordable housing in North Dakota's booming oil patch.
BISMARCK, N.D. (AP) — Contributions are lagging for a fund aimed at building affordable housing in North Dakota's booming oil patch.
The North Dakota Housing Finance Agency says more than 350 low-income housing units could languish if funding is not raised.
The agency's housing incentive fund program gives individuals and business donors a dollar-for-dollar tax credit to develop low-income housing.
The Legislature last year increased the amount of money to finance the credits from $4 million to $15 million.
Agency director Mike Anderson says $3.7 million in donations is needed by the end-of-year deadline to fund all of the 26 low-income projects proposed.
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