American Bank Center Supports Affordable Housing Development

Am+BncCent-2CDICKINSON and MINOT, ND – American Bank Center contributed $300,000 to the state’s Housing Incentive Fund (HIF) in November to support the development of affordable housing projects in Dickinson and Minot.

“As a local bank, we see first-hand the housing challenges being faced in the communities we serve. We are proud to partner with the Housing Finance Agency to support its goal of providing safe and affordable housing for all North Dakota residents,” said Stan Koppinger, American Bank Center president and CEO.

Since the HIF program began in 2011, American Bank Center has been a consistent supporter, contributing $770,000 in total to the fund. The bank split its most recent contribution between Lincoln Park Townhomes in Dickinson and Park South Apartments in Minot.

“We are grateful for American Bank Center’s continued commitment to HIF,” said Jolene Kline, NDHFA executive director. “With their support, we are able to advance 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.”

Capitalized by contributions from state taxpayers, HIF provides developers of affordable rental housing with low-cost financing if they agree to set-aside units for essential service workers and low- to moderate-income households. Individuals and businesses that contribute to HIF receive a dollar-for-dollar state tax credit. Contributions can be targeted to a specific project or community.

To honor the commitments it made in July, NDHFA must raise $30 million by Dec. 31, 2016. More information on HIF is available online at www.ndhousingincentivefund.org 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