First National Bank & Trust Supports Affordable Housing Development

FNBT

First National Bank & Trust Co. contributed $200,000 to the Housing Incentive Fund in December.

WILLISTON, ND – First National Bank & Trust Company contributed $200,000 to the state’s Housing Incentive Fund (HIF) in December to support the development of affordable housing in Williston.

Dennis Pederson, President of First National Bank & Trust Co. says, “As an independent community bank, the most important part of our business is to focus on the needs of Williston and the outlying communities we serve. With the increased oil activity over the last eight years, there has been no shortage of needs, with affordable housing being at the very top of that list. First National Bank & Trust Co. is very pleased to continue our contributions to such an effective program for our community.”

This is the bank’s second contribution to the fund. First National Bank & Trust Co. contributed $200,000 to support Williston-area development during the previous biennium as well.

“To have economically and socially healthy communities, we need housing that is affordable for all of our residents,” said Jolene Kline, NDHFA executive director. “The Housing Incentive Fund is providing these opportunities, and we are grateful for First National Bank & Trust Company’s continued commitment to such development.”

Capitalized by contributions from state taxpayers, the Housing Incentive Fund 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 the fund receive a dollar-for-dollar state tax credit. Contributions can be targeted to a specific project or community.

To fully capitalize the Housing Incentive Fund, NDHFA must raise $30 million by Dec. 31, 2016. More information on the program is available online at www.ndhousingincentivefund.org or by contacting the agency at (800) 292-8621 or hfainfo@nd.gov.

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