The North Dakota Housing Finance Agency (NDHFA) has granted conditional commitments for $2.9 million in low-income housing tax credits (LIHTCs) for construction or rehabilitation of 258 affordable housing units.
“This year’s allocation plan gave priority to projects in energy-impacted counties,” said Agriculture Commissioner Doug Goehring in a statement. “More than 175 units will be developed or rehabilitated to meet the demand in Stark, Williams, and Ward counties.”
The 2011 housing credit awards include:
- Dickinson—$546,107 to California Commercial Investment to buy and rehabilitate Pioneer-Peaceful Haven, 106 units serving the elderly;
- Minot—$616,250 to Artspace Projects, Inc., for construction of Mainstreet Artspace Lofts, 32 units;
- Williston—$602,519 to GA Haan Development, LLC., for construction of Nokota Ridge, 40 units;
- Casselton—$219,663 to Region V Community Development to build Sundance Village, 25 units;
- Dunseith—$592,716 to Turtle Mountain Housing Authority to build Turtle Mountain Homes VII, 28 units; and
- West Fargo—$382,250 to Southhill Properties, LLC, for the construction of Preserve Townhomes, 27 units serving the elderly.
The Industrial Commission of North Dakota, consisting of Gov. Jack Dalrymple as chairman, Attorney General Wayne Stenehjem, and Goehring, oversees NDHFA.
Since the LIHTC program was created in 1986, $31 million in tax credits have been allocated for the production or rehabilitation of 189 projects in 43 communities, according to Mike Anderson, NDHFA executive director. The $362 million in private investment has produced more than 5,000 units for low- to moderate-income renters.