Eight Affordable Housing Projects Benefit from $750,000 Bremer Contribution

Fargo, ND – Bremer Bank has contributed $750,000 to the North Dakota Housing Incentive Fund (HIF) to support affordable housing developments across the state. The developments will provide Bremer Bank logohousing for essential community employees, such as teachers and nurses, as well as to lower-wage workers and disabled and elderly individuals with fixed incomes.

Eight projects will benefit from Bremer Bank’s contribution this year:

  • Prairie Winds Apartments – Dickinson
  • Jeremiah Program Apartments – Fargo
  • Prairie Pointe – Gwinner
  • Harvey Apartments – Harvey
  • Trail West Townhomes – Mandan
  • Sunset Ridge I and II – Minot
  • Meadowlark Homes – New Rockford

“Finding affordable housing in North Dakota is more challenging than ever,” said Russ Erickson, Bremer Bank Fargo Region CEO. “By contributing to the HIF, Bremer Bank is ensuring that reasonably priced housing will continue to be developed in communities throughout the state.”

Bremer Bank has contributed a total of $1.5 million to the biennial program since 2013.

“We are thankful for Bremer Bank’s continued commitment to the HIF,” said Jolene Kline, North Dakota Housing Finance Agency (NDHFA) executive director. “Through their contribution, Bremer advances the state’s efforts to provide housing for all North Dakotans. I encourage more businesses and individuals to make a contribution this year, so we can move all of our HIF projects forward.”

HIF relies on taxpayer support to provide low-cost financing to developers of affordable multifamily housing. Contributions can be targeted to a specific project or community. NDHFA administers the HIF.

In July, NDHFA awarded the first HIF conditional commitments of the biennium, pledging to support 24 new housing projects. The agency is now focused on capitalizing the fund so the developments can begin construction. Individuals and businesses that contribute to HIF receive a dollar-for-dollar state tax credit.

More information on the HIF is available online or by contacting NDHFA at (800) 292-8621 or hfainfo@nd.gov.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s