FARGO, ND – Bell Bank repeated its support of the state’s Housing Incentive Fund in September, making its second $1 million contribution to the program this biennium.
“We are pleased to support the Housing Incentive Fund and help make more affordable housing options available to North Dakotans,” said Michael Solberg, president and CEO of Bell Bank. “Seniors and people with disabilities will be well served by these two projects, and Bell is proud to be a part of this effort.”
Bell’s most recent contribution was split between Homefield 2 Apartments, a Fargo development for individuals age 55 and older; and Prairie Pointe in Gwinner and Sunset Ridge II in Minot, family-friendly projects with accessible units.
“North Dakota Housing Finance Agency is charged with helping our state’s communities in addressing their affordable housing needs,” said Jolene Kline, the agency’s executive director. “We are appreciative of the continued confidence displayed by Bell in our ability to get that job done.”
HIF relies on taxpayer support to provide low-cost financing to developers of affordable rental housing. Contributors can target their contribution to a specific project or community. Individuals and businesses that make contributions receive a dollar-for-dollar state income tax credit. NDHFA administers the program.
Since HIF’s inception in 2011, NDHFA has allocated more than $89.6 million to 78 projects, leveraging over $425 million in construction financing to support the development of 2,450 new apartments statewide. More information on the program is available online or by contacting the agency at (800) 292-8621 or firstname.lastname@example.org.
Headquartered in Fargo, ND, Bell Bank has 20 full-service locations in communities in North Dakota and Minnesota. It is the largest privately owned bank in the region with assets of more than $3.5 billion.
A self-supporting state agency, NDHFA finances the creation and rehabilitation of affordable housing across North Dakota. The Industrial Commission of North Dakota, consisting of Governor Jack Dalrymple, as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the agency.