NEWS HEADLINES

North Dakota Awards LIHTCs

By Donna Kimura

BISMARK, N.D.—The North Dakota Housing Finance Agency (NDHFA) has reserved approximately $2.8 million in low-income housing tax credits to six developments that will provide 266 affordable housing units.

The 2009 awards include:

• $681,631 to Beyond Shelter, Inc., for the construction of the 42-unit Crossroads Senior Living Community in Fargo;
• $540,735 to the Fort Berthold Housing Authority for the construction of 24 homes that will be built at scattered sites;
• $314,183 to GLS Development, LLC, to buy and rehabilitate the Jameshouse/Posthouse, preserving 106 units in Jamestown;
• $456,578 to MetroPlains, LLC, for the construction of the 24-unit Lakewood Townhomes in Mandan;
• $387,970 to Southhill Properties, LLC, for the construction of the 30-unit Charleston II project in West Fargo; and
• $434,752 to GA Haan Development, LLC, for the construction of the 40-unit Williston Senior Apartment Homes in Williston

North Dakota has allocated more than $28 million in tax credits creating more than 5,000 affordable rental homes for low-income families over the years, according to Mike Anderson, NDHFA executive director.

A recent State of Affordable Housing in North Dakota report shows that low- and fixed-income residents are finding it increasingly difficult to afford housing.

Median home values rose at a rate of 20.5 percent from 2005 to 2007 while median household income grew only 6.6 percent, says the report. That’s a big change from earlier in the decade when both grew by about 19 percent.

For more information, visit www.ndhfa.state.nd.us.