Published January 03, 2013, 02:33 PM
Housing fund contribution met in ND oil country
Officials say contributions have been met for a fund aimed at building affordable housing in North Dakota's booming oil patch.
BISMARCK, N.D. (AP) — Officials say contributions have been met for a fund aimed at building affordable housing in North Dakota's booming oil patch.
The North Dakota Housing Finance Agency says more than 600 private investors have successfully capitalized the agency's $15 million housing incentive fund.
The program gives individual and business donors a dollar-for-dollar tax credit, and they can designate their contributions for specific projects.
The Legislature approved $15 million in state income tax credits in 2011 to subsidize construction of $104 million in low-income dwellings.
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