Dalrymple Celebrates Groundbreaking of New Affordable Housing Development in Minot
by ND Governor
Posted on 8/15/2012
Gov. Jack Dalrymple today will join state and local officials in Minot to break ground on Washington Townhomes, an affordable housing development that will provide an additional 32 housing units for low- and moderate-income residents.
The $6.76 million project is a collaborative effort between state, local and private-sector partners. Funding sources include $5.5 million in private capital raised through the Low Income Housing Tax Credit program and $750,000 in discretionary Community Development Block Grants funds awarded by Gov. Dalrymple.
"Washington Townhomes is part of a much larger effort to encourage greater development of affordable housing," Dalrymple said. "With strong community partnerships in place, we will continue to facilitate the building of affordable housing in Minot and in other rapidly growing communities."
Beyond Shelter Inc., a nonprofit developer of affordable housing, expects to complete construction of Washington Townhomes by August 2013. Washington Townhomes, 715 18th Ave. SE, will include four townhome-style buildings, each containing eight housing units. Today's groundbreaking is scheduled to begin at 4p.m.
Others expected to attend the event include Minot Mayor Curt Zimbelman, Senator John Hoeven, Congressman Rick Berg, Mike Anderson, executive director of the North Dakota Housing Finance Agency, Dan Madler, COO of Beyond Shelter Inc., and Tom Alexander, chairman of the Minot Housing Authority.
Since January 2011, the North Dakota Housing Finance Agency, under the direction of the North Dakota Industrial Commission, has facilitated the development of 976 affordable housing units throughout the state. Most of the housing projects, which are in various stages of development, are located in the state's oil-producing counties.
During the 2011-2013 Legislative Session, Dalrymple recommended and the Legislature agreed to expand the North Dakota Housing Incentive Fund to $15 million. The fund is a loan source for developers who pledge to build affordable housing for low- and moderate-income residents. When fully utilized, the fund will facilitate the construction of pending and approved housing projects valued at about $95 million. Taxpayers who contribute to the fund are eligible for dollar-for-dollar state tax credits that can be fully claimed the same tax year or within 10 years. Ninety percent of the fund is set aside for affordable housing projects in energy-impacted communities and in areas hard hit by natural disasters.
In his 2013-2015 budget proposal, Dalrymple will also recommend that $12 million in state Flex PACE funding be provided for low-interest loans to further support the development of affordable housing projects.
The state also is also facilitating greater development of traditional housing, especially in western North Dakota's oil counties. During the last legislative session, Dalrymple proposed and the Legislature appropriated $135 million to provide Energy Impact Grant funds. Oil-impacted communities are accessing the grant funds to extend sewer lines, expand water supply systems, extend streets and to complete other infrastructure upgrades that directly support greater development of housing projects.