BISMARK, N.D.—The Industrial Commission of North Dakota has approved the state’s 2011 low-income housing tax credit qualified allocation plan, making more than $2.4 million in credits available.
The application deadline is Feb. 28, 2011. If necessary, a second round will be held, with an application deadline of April 30, 2011.
The North Dakota Housing Finance Agency (NDHFA) will rank applications according to a project’s ability to address the state’s housing needs.
“The 2011 plan targets projects in energy-impacted counties and on tribal lands,” said Agriculture Commissioner Doug Goehring in a statement. “Developments serving the lowest-income families for the longest time also get preference.”
Gov. Jack Dalrymple said officials expect to see strong demand for the credits, and the parameters put in place by NDHFA will ensure that the credits will be used to address the greatest housing needs.
Since 1986, the tax credit program has provided $30 million in credits for the production or rehabilitation of 180 projects in 43 communities in North Dakota.
For more information, visit www.ndhfa.org.