2018 was a great year for North Dakota Housing Finance Agency (NDHFA) and homeowners across the state. We had a record-breaking year, purchasing 1,798 loans with a total value of more than $300 million. Normally, the agency averages about 1,200 loans purchased annually.
While our Homeownership Division was handling an increased workload, our Planning and Development Division was modifying programs to support the changing needs of North Dakota communities and launching a Landlord Mitigation program to assist individuals and families who struggle to find rental housing because of poor credit, a criminal background or a past eviction. If you haven’t seen it yet, you’ll find more 2018 highlights in our Annual Report.
In December, Governor Burgum announced his recommendation to allocate $20 million to the North Dakota Housing Incentive Fund (HIF) from the Strategic Investment and Improvements Fund. NDHFA’s budget bill HB 1014 has been introduced and we have requested the Governor’s recommendation of $20 million for HIF be added to the bill.
Since the introduction of HB 1014, two more bills supporting HIF have been introduced in the Senate. SB 2271 would allocate $40 million from the general fund and SB 2302 creates $10 million in tax credits for HIF. Having three bills pertaining to the program is keeping the Agency and our stakeholders busy. Telling our story to legislators about the personal impact HIF makes in urban and rural communities is critical as they face tough decisions when drafting the state’s budget.
To create awareness about each community’s unique needs, our affordable housing factsheets for each district have been updated. Additionally, we highlighted the impact HIF has made across the state, to our aging population, and to individuals and families needing permanent supportive housing. I ask that you review the information and reach out to your state legislators to ask them to support the state’s only affordable housing financing tool and the flexibility it provides allowing North Dakota communities to address their unique housing needs.
In addition to HIF, there are numerous bills pertaining to the Department of Human Services and Department of Corrections that aim to provide supportive services for the state’s most vulnerable populations. If you want to learn more about this legislation and follow the state’s legislative process, you can do so by visiting the Legislative Assembly website.
We look forward to updating you on HIF legislation in our next newsletter. In the meantime, we hope you’ve saved our Statewide Housing Conference dates, May 20-21. When the event agenda is final, we’ll provide details on the speaker line up. Stay tuned!