BISMARCK, N.D. and MINNEAPOLIS – The North Dakota Housing Incentive Fund (HIF) is getting a big boost with a $4 million contribution from U.S. Bank. HIF supports the development of affordable housing in the state.
The HIF contribution was presented at the North Dakota State Capitol in Bismarck on Thursday, Aug. 13 by U.S. Bank Regional President Tim Hennessy to North Dakota Governor Jack Dalrymple and North Dakota Housing Finance Agency (NDHFA) Executive Director Jolene Kline.
“U.S. Bank is honored to be able to continue to support North Dakota’s housing development efforts,” said Hennessy. “The Housing Incentive Fund plays a vital role in providing affordable housing, which helps make our state an economically stronger and healthier place to live and work.”
NDHFA is a self-supporting state agency dedicated to making housing affordable for all North Dakotans. The Industrial Commission of North Dakota, consisting of Dalrymple as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the agency.
U.S. Bank was one of the first companies to make a contribution to the fund when it was created in 2011. The bank also contributed $1.2 million in 2011 and $3 million in 2013.
“Thank you to U.S. Bank for this generous contribution and for their continued support of affordable housing development in North Dakota,” said Dalrymple. “U.S. Bank has been a strong partner from the very beginning of the Housing Incentive Fund. This $4 million contribution makes U.S. Bank the largest aggregate contributor in the program’s history.”
“We are very appreciative of U.S. Bank’s continued support of the Housing Incentive Fund, and I thank the bank for making the contribution now,” said Kline. “Having U.S. Bank’s support this early in our capitalization process will allow these housing projects to begin moving forward with construction, addressing critical housing needs in our fast growing communities.”
Projects in Beulah, Bismarck, Dickinson, Fargo, Grand Forks, Hazen, Mandan, Minot and Ray benefitted from U.S. Bank’s contribution.