Dakota Community Bank Supports Affordable Housing

Dakota Community Bank presents a $400,000 HIF contribution to members of the Industrial Commission and NDHFA Executive Director Jolene Kline.

BISMARCK, ND – Dakota Community Bank & Trust has contributed $400,000 to the North Dakota Housing Incentive Fund (HIF), supporting projects that will provide affordable housing in Bismarck, Dickinson and Mandan.

“At Dakota Community Bank, we believe it’s important to promote the growth and development of the communities we serve,” said Dakota Community Bank & Trust President Dale Pahlke.

Capitalized by contributions from North Dakota taxpayers, HIF provides developers of rental housing with low-cost financing if units are set-aside for essential service workers and low- to moderate-income households. The North Dakota Housing Finance Agency (NDHFA) administers the program.

“Communities across North Dakota need affordable housing options, especially for lower income families and those living on fixed incomes,” said Jolene Kline, NDHFA executive director. “I thank Dakota Community Bank for its continued support of the Housing Incentive Fund.”

This is Dakota Community Bank’s second contribution to the fund. The bank divided its most recent contribution between a Bismarck development for homeless individuals and families; a Mandan property that will provide affordable housing for seniors and families; and an apartment complex in Dickinson that has reserved units for the disabled clients of ABLE Inc. Altogether, Dakota Community Bank has contributed $600,000 to HIF.

The Industrial Commission, consisting of Gov. Jack Dalrymple as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the state’s development efforts and recommended that the state legislature reauthorize HIF. NDHFA received a $15.4 million general fund appropriation and was authorized to further capitalize HIF by issuing $20 million in state tax credits.

To learn more about the HIF, contact Kline or Bill Hourigan at (800) 292-8621 or info@ndhfa.org. Information is also available online at www.ndhousingincentivefund.org.

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