ND Housing Fund Gets $3 Million To Build Affordable Housing
BISMARCK, N.D. (AP) — Minneapolis-based U.S. Bank has contributed $3 million to a North Dakota fund aimed at building affordable housing, primarily in the state's booming oil patch.
The North Dakota Housing Finance Agency's low-income housing development program gives individual and business donors a dollar-for-dollar tax credit, and they can designate their contributions for specific projects. The Legislature this year approved general fund spending of $20 million and $15.4 million in state income tax credits to subsidize construction of low-income dwellings.
Officials say the program's goal is to build at least 1,000 low-income units in North Dakota over the next two years.