Six developments have been selected to share in $2.7 million in federal low-income housing tax credits from the North Dakota Housing Finance Agency (NDHFA).
Sierra Court in Bismarck, Turtle Mountain Homes 9 in Dunseith, North Sky Ill in Fargo, and McKenzie Village Apartments in Watford City are all for households age 55 and older.
Northern Place in Dickinson and Sunset Ridge in Minot are targeted to low-wage workers. Six units in the Dickinson development are designated for households at risk of homelessness.
"As North Dakota grows, it is important to maximize our federal resources while leveraging the local,
state and private dollars that are needed to bring more affordable housing to fruition," said Jolene Kline, NDHFA executive director.
The 2015 federal tax credits will bring an estimated $37.7 million in equity to the projects.
More information on the projects selected is available at www.ndhfa.org/Development/LIHTC.html.
As part of this funding round, NDHFA also allocated $74,000 to senior projects in Jamestown and West Fargo to complete construction.
The awards were announced by the Industrial Commission of North Dakota, which oversees NDHFA. The Commission is made up of Gov. Jack Dalrymple; Doug Goehring, agriculture commissioner; and Wayne Stenehjem, attorney general.
"The financial support leveraged
by the LIHTC program makes the development of housing for our most vulnerable
populations feasible," commission members said in a joint statement.