BISMARCK, ND – The North Dakota Housing Incentive Fund (HIF) was recognized for its merit winning a 2013 Award for Program Excellence from the National Council of State Housing Agencies in the Rental Housing Encouraging New Production category.
“The Housing Incentive Fund has been an incredible tool in developing affordable housing units across North Dakota,” said Jolene Kline, NDHFA acting executive director and fund administrator. “I’m pleased that we are able to share one of our success stories with our peers from across the country.”
Capitalized by contributions from state taxpayers, HIF provides the state with a means for developing affordable multifamily housing for essential service workers and low- to moderate-income families. During the 2011/2012 biennium, a $15 million program supported the development of 23 affordable housing developments.
The program was reauthorized by the state legislature during the 2013 session. NDHFA received a $15.4 million general fund appropriation and the authority to issue up to $20 million in state tax credits to further capitalize HIF. Thus far, the agency has made conditional commitments to 18 new HIF projects. NDHFA plans to announce more funding commitments in November.
The award was announced at the annual conference of state housing agencies in late October. HFAs in Rhode Island, Arizona and Louisiana also submitted entries in the same sub-category.
NDHFA is a self-supporting state agency that finances the creation and rehabilitation of affordable housing across North Dakota. The Industrial Commission, consisting of Governor Jack Dalrymple as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the agency.
More information on HIF is available online at www.ndhousingincentivefund.org.