BISMARCK, ND – North Dakota Housing Finance Agency is now accepting applications for National Housing Trust Fund program dollars.
“The Housing Trust Fund is a new federal program intended to provide revenue to build, preserve and rehab housing for extremely low-income households including homeless individuals and families,” said Jolene Kline, NDHFA executive director.
NDHFA is responsible for administration of the HTF in North Dakota including the development of a plan that defines the process by which program allocations are made. The agency’s plan allows the program dollars to be used for construction, rehabilitation, acquisition or adaptive reuse of multifamily housing for households that earn less than 30 percent of area median income. Operating cost assistance may also be provided for a project’s HTF-assisted units.
Eligible recipients include units of local, state and tribal government; local and tribal housing authorities; community action agencies; regional planning councils; nonprofit organizations; and for-profit developers. During the first application round of each year, ten percent of the available funds will be set aside for projects located within North Dakota Indian Reservations or on Tribal land held in trust.
The plan and application are available online at www.ndhfa.org or by contacting NDHFA at (800) 292-8621. The deadline for submission of the first quarterly applications is Sept. 30, 2016.
Congress established the HTF as part of the Housing and Economic Recovery Act of 2008 and required Fannie Mae and Freddie Mac to support the program. The requirement was suspended later that year when the companies were taken into conservatorship. The suspension was lifted in December 2014 and HUD will allocate the first HTF dollars this year. Upon HUD’s acceptance and approval of the state’s allocation plan, NDHFA expects to receive $3 million, the formula minimum.
A self-supporting state agency, NDHFA finances the creation and rehabilitation of affordable housing across North Dakota. The North Dakota Industrial Commission, consisting of Governor Jack Dalrymple as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring, oversees the agency.