Tag Archives: development

Construction Loan Guarantee Program Regulations Updated

BISMARCK, ND – Rural communities struggling to meet the demand for affordable single-family housing are expected to benefit from an update to North Dakota Housing Finance Agency’s Construction Loan Guarantee program regulations.

CLGAug18NDHFA’s Construction Loan Guarantee program can now provide up to $500,000 per community or per contractor. Prior to the change, the program limited the number of loans guaranteed to no more than three per contractor and five per community.

“The change allows the lender to work with the builder to determine the balance between construction costs and local demand, taking advantage, when possible, of the economies of scale that comes with building multiple homes in one location at one time,” said Jolene Kline, NDHFA’s executive director. “This approach may reduce the overall cost of construction and, in turn, the sale price of the homes.”

NDHFA provides guarantees to lenders for contractors who build or rehab affordable single-family housing on a speculative basis in communities with populations of less than 35,000. Evidence of local support and need for the housing is required to receive a guarantee. The anticipated sale price of the homes must not exceed the Federal Home Administration’s current mortgage limits

“Our goal is to create more affordable purchase opportunities in our growing communities,” said Kline.

More information about NDHFA’s Construction Loan Guarantee program, the program guide and application are available online at www.ndhfa.org or calling (800) 292-8621.

The application deadline for the updated guarantee amount is Aug. 31. Awardees will be chosen based on their ability to efficiently leverage the program. After Sept. 1, awards will be made on a first-come first-served basis until all of the funds have been committed. Currently $1 million is available and while the maximum award is $500,000, there is no minimum award limit.

Affordable Multifamily Housing Development Assistance Available

BISMARCK, ND – North Dakota Housing Finance Agency is currently accepting applications for approximately $3.75 million in development assistance through the Housing Incentive Fund, a state program that strengthens communities by providing rental housing for essential service workers and low- to moderate-income households

HIF Invest in Your Community“Priority will be given to applicants that demonstrate both the need for the affordable housing units and the support of the community in which the project is located,” said Jolene Kline, NDHFA executive director.

The HIF program support is available due to the cancellation of previous financial commitments.

NDHFA is currently accepting applications for two federal development programs as well – the Low Income Housing Tax Credit program and the National Housing Trust Fund. LIHTCs provide an incentive for the production or rehabilitation of low-income housing. The purpose of the HTF is to increase and preserve the supply of housing for extremely low-income households.

Applications must be received by 5 p.m. (CDT) on Sept. 29, 2017. More information is available online or by contacting the agency’s planning and housing development division staff at (800) 292-8621 or hfainfo@nd.gov.

NDHFA is a public financial institution dedicated to making housing affordable for all North Dakotans. The Industrial Commission of North Dakota, consisting of Gov. Doug Burgum, as the chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring, oversees the agency.

Public Hearings Held for Housing Development Programs

BISMARCK, ND – North Dakota Housing Finance Agency will hold Public Hearings for the 2018 Low Income Housing Tax Credit Program Qualified Allocation Plan and the 2017 National Housing Trust Fund Allocation Plan on April 27, 2017.

18QAP&17HTFGraphicThe LIHTC hearing will begin at 10 a.m. and the HTF hearing at 11 a.m. Both hearings will be held in the Board Room at NDHFA’s office, 2624 Vermont Ave., Bismarck, ND.

The LIHTC program provides incentives for the production and rehabilitation of affordable rental housing. The HTF program supports the development and preservation of affordable rental housing for extremely low-income households, including homeless individuals and families. The proposed plans are available online.

The general public may submit either written or oral comments at the hearings. Persons who are unable to attend the hearings may submit written comments to hfainfo@nd.gov or NDHFA, PO Box 1535, Bismarck, ND 58502-1535, by 10 a.m. on April 27, 2017.

Persons needing accommodation or assistance to attend the hearing should call (800) 292-8621 or (800) 366-6888 (TTY), or email hfainfo@nd.gov.

NDHFA is a self-supporting state agency dedicated to making housing affordable for all North Dakotans. The Industrial Commission of North Dakota, consisting of Governor Doug Burgum as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the agency.

Affordable Housing Development Assistance Available Statewide

BISMARCK, ND – North Dakota Housing Finance Agency is currently accepting applications for development assistance through the state’s Housing Incentive Fund.

Housing Incentive Fund program logo“NDHFA’s mission is to ensure that everyone in the state has access to housing they can afford,” said Jolene Kline, the agency’s executive director. “The Housing Incentive Fund has proven to be a powerful tool in addressing this need in communities statewide.”

HIF supports the development of multifamily housing for essential service workers and low- and moderate-income households. Approximately $9 million is available; $5 million is set aside for communities with populations less than 12,500. Rural community populations will be determined using 2010 U.S. Census data.

HIF program information can be found online at http://www.ndhousingincentivefund.org. To be considered for funding, applications must be submitted by 5 p.m. (CST) on March 31. Contact NDHFA at (800) 292-8621 or hfainfo@nd.gov for more information.

Since HIF’s inception, NDHFA has allocated more than $78.6 million to projects, leveraging over $378 million in construction financing to support the development of more than 2,200 new units statewide.

A self-supporting state agency, NDHFA finances the creation and rehabilitation of affordable housing in North Dakota. The North Dakota Industrial Commission, consisting of Governor Jack Dalrymple as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the agency.

 

Housing Development Finance Professional Certification Training

BISMARCK, ND – Learning the ins and outs of the affordable housing development process will be the focus of a training series for public and non-profit practitioners that starts this fall.

HDFPLinkImage2In October, North Dakota Housing Finance Agency, in partnership with the North Dakota Department of Commerce and CommunityWorks North Dakota, will host the first in a series of four courses for the National Development Council’s Housing Development Finance Professional Certification.

The program explores the development process, financial analysis techniques and structuring, and the negotiating skills needed to successfully develop and finance affordable homeownership and rental housing development.

Through partnerships and sponsorships, the full series will be offered at a deep discount – all four courses for only $1,200.

Courses and dates are:
• HD410: Homeownership Finance—October 19-22, 2015
• HD420: Rental Housing Development Finance—April 25-29, 2016
• HD422: Computer Spreadsheet Analysis for Housing—June 21-23, 2016
• HD430: Housing Development Finance: Problem Solving and Deal Structuring—October 10-14, 2016

Participants who successfully complete all of the courses, passing each course exam, will be awarded the NDC’s HDFP certification.

“The training is a great opportunity for rural communities to address one of the greatest barriers to affordable housing development – a lack local development experience,” said Jolene Kline, NDHFA executive director.

Future trainings, including HD420, HD422 and HD430, will be held at the Comfort Inn in Bismarck. Registration for HD420 will open in late February. More information is available by calling (800) 292-8621.

Do You Offer Housing Incentives?

Does your community offer any incentives for single- or multi-family housing rehabilitation or development? If so, North Dakota Housing Finance Agency would like to include your program information in a new resource guide. Please contact Planning and Housing Development Division Director Jennifer Henderson at 800-292-8621 or hfainfo@nd.gov to provide details on your local program.

Housing Development Certification Training Series Coming

This fall, North Dakota Housing Finance Agency, in partnership with the North Dakota Department of Commerce and CommunityWorks North Dakota, will host the first in a series of four courses for the National Development Council’s Housing Development Finance Professional Certification.

“The training is a great opportunity for rural communities in particular to address one of the greatest barriers to affordable housing development, a lack of local development experience,” said Jolene Kline, NDHFA executive director.

The certification program explores the development process, financial analysis techniques and structuring, and negotiating skills needed to successfully develop and finance affordable single- and multi-family housing. Skills are taught within the context of case studies based on actual deals that members of NDC’s professional staff have structured and implemented in conjunction with clients in urban and rural communities across the country.

Through partnerships and sponsorships, the entire series will be offered locally at a deep discount.

Topics covered will include:

  • Understanding the Housing Development Process
  • Financial Analysis Techniques
  • Deal Structuring – putting together the financing and other components of a project
  • Negotiating – the skills needed to bring the components together

The first four-day course is tentatively scheduled to be held October 19-22, 2015, in Bismarck, ND. Look for details and registration in the coming months.

Sponsorship inquiries and questions should be directed to Jennifer Henderson, (800) 292-8621 or hfainfo@nd.gov.

Farm Bill Impacts Rural Housing Programs

Passage of the Farm Bill extended Rural Area Eligibility for USDA housing programs, in turn impacting the eligibility of growing North Dakota communities for technical and financial assistance available through NDHFA’s planning and housing development programs that utilize the same standard.

“Communities with a population of 35,000 or less will now be able to access the planning assistance, market survey grants, and rehab and development loans that the agency offers rural communities,” said Jennifer Henderson, NDHFA planning and housing division director. Previously, the agency’s assistance was limited to communities with a population of 20,000 or less.

A Statewide Technical Assistance Team led by NDHFA staff helps rural communities define housing needs, develop necessary projects and see those projects through to completion. The agency’s Housing Market Survey Grants offer a cost-sharing incentive to develop a local housing strategy. The Rural Housing Development Loan Program provides short-term financing for predevelopment soft costs, land acquisition, site development and construction financing. And, the Rural Housing Rehabilitation Loan Program offers low-cost loans for the rehabilitation of single- and multi-family properties.

President Obama signed the Farm Bill on Feb. 7.

NDHFA is a self-supporting state agency that finances the creation and rehabilitation of affordable housing across North Dakota. The North Dakota Industrial Commission oversees the agency. More information on the assistance provided by the agency’s Planning and Housing Development Division is available online at www.ndhfa.org. 

Henderson Named Planning and Housing Development Director

Henderson named Planning and Housing Division Director

Henderson named Planning and Housing Division Director

BISMARCK, ND – The North Dakota Housing Finance Agency (NDHFA) has named Jennifer Henderson to head its planning and housing development division.

“Jennifer is a welcome addition to our management team,” said Jolene Kline, NDHFA executive director. “Her leadership skills and banking background will serve her well as the division moves forward with its mission of providing affordable housing in communities across North Dakota.”

Henderson previously served as a housing outreach officer within the planning and housing development division.  In her new position, she will oversee the division’s work, providing community leaders and housing developers with the technical and financial assistance needed to define local housing needs, devise development strategies, and position communities for growth.

“I look forward to this opportunity to help improve the quality of life for low- to moderate-income residents across North Dakota,” said Henderson.

Henderson replaces Kline, who was named the NDHFA’s executive director in December. Prior to coming to work at the agency, Henderson was employed with American Bank Center.

NDHFA is a self-supporting state agency that finances the creation and rehabilitation of affordable housing across North Dakota. The North Dakota Industrial Commission oversees the agency. More information about the agency is available online at http://www.ndhfa.org.