NDHFA is kicking off the month of May with some exciting news. We were awarded a $5.1 million grant from the FHLB Des Moines Impact Member Fund through a partnership with the Bank of North Dakota (BND).
FHLB created the Member Impact Fund in 2023 and this is the first year that North Dakota member banks were eligible. Of the $20 million available, North Dakota member banks and grantees received $11 million. You can read more details about it here.
A big thank you goes to Todd Steinwand, the BND team, and their advisory board. This award is very timely and will increase the impact of existing NDHFA-administered programs, including Helping HAND, Rehab Accessibility Program (RAP), Opening Doors and the Housing Incentive Fund (HIF).
Two of NDHFA’s grant programs, Helping HAND and RAP, provide funds to rehabilitation single and multifamily housing primarily occupied by low-income households and individuals with physical disabilities. The intent is to remove barriers to address accessibility issues and allow individuals to remain in their homes as long and as safely as possible.
The Opening Doors program encourages property owners to lease to people who don’t meet their usual criteria by providing coverage beyond the security deposit. This allows those who may have poor credit, a problematic rental history, or a criminal conviction to secure a home.
And finally, HIF. During the most recent legislative session, new construction, rehabilitation, preservation, or acquisition of a single-family housing project in a developing community or a community land trust project became an eligible activity under HIF. An application round opened for single-family projects in March and funds were allocated within a month, showing that a significant need for funding still exists under HIF.
This month, I will be participating in the launch of the North Dakota Housing Initiative. There will be an Advisory Committee, appointed by the Governor, in addition to listening sessions planned in the cities of Fargo, Bismarck, Williston and Harvey. Builders, developers, lenders, realtors, local economic development entities, community leaders, elected officials and legislators will be invited to each session. We look forward to the discussions and the announcement of recommendations from the Governor in the fall.
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