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From the Executive Director
Every June, National Homeownership Month is observed. This month highlights the dream of owning a home – a symbol of stability and a pathway to building wealth for families. NDHFA’s homeownership programs coupled with down payment and closing cost assistance provide buyers with greater purchasing power so that even with rising interest rates, high home prices and a competitive market, homeownership is still very much within grasp.
This year, NDHFA has been able to provide nearly $5 million in down payment and closing cost assistance and interest rates for our flagship FirstHome™ program have been about 1.41% below the market rates. Year-to-date through June, FirstHome™ is up 300 loans over 2023 amounting to an increase of $76.5 million purchased loans. READ MORE
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HOUSING FINANCE AGENCY ANNOUNCES GRANT FUNDING FOR HOUSING REHAB
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$200,000 will be distributed through the Helping Housing Across North Dakota (Helping HAND) program.
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Grants are provided to targeted community groups with existing single-family housing rehabilitation programs and play a vital role in assisting households with limited means.
- NDHFA has provided over $6.7 million in grants through Helping HAND, leveraging more than $50 million and helping over 8,000 lower-income individuals and families across North Dakota. READ MORE
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AFFORDABLE HOUSING DEVELOPMENT AND ASSISTANCE PROGRAMS ACCEPTING APPLICATIONS
- NDHFA is accepting applications for programs that support the development of affordable rental housing and offer homeownership and rental assistance to low-income individuals.
- Applications are being accepted for: HOME Investment Partnerships Program (HOME), Low Income Housing Tax Credit (LIHTC), the National Housing Trust Fund (HTF), and the Housing Incentive Fund (HIF).
- A combined total of approximately $12.7 million is available.
- The funding application process is competitive, with conditional commitments from NDHFA awarded to top-scoring projects. The deadline for submissions is 5 p.m. CDT on September 30, 2024. READ MORE
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ND AGENCIES RECEIVE FUNDING TO COMBAT HOMELESSNESS
- NDHFA announces funding recipients for the federal Emergency Solutions Grant (ESG) and the state North Dakota Homeless Grant (NDHG) for 2024.
- ESG and NDHG are oversubscribed by nearly $3.3 million, with the demand for support far exceeding the funding available.
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Ten agencies were awarded ESG funding, with $881,870 allocated to support funding for emergency shelters, outreach services, homelessness prevention, and rapid re-housing assistance.
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NDHG funding was awarded to 17 agencies, distributing the $909,115 available to support their work. READ MORE
- Award listings: ESG Awards, NDHG Awards
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HOUSING FINANCE AGENCY WARNS PUBLIC OF POTENTIAL SCAM
- Be on the lookout for suspicious websites or social media posts regarding the opening of a waitlist for specific properties as part of the Section 8 Housing Choice Voucher Program.
- Fraudulent entities have posed as official housing agencies asking for personal information.
- “At this time, we are not aware of this scam occurring in our state, but we want to be proactive in ensuring the safety and security of all individuals seeking housing assistance,” said Dave Flohr, NDHFA executive director. “We urge everyone to stay informed and cautious, and to always verify information through official channels.” READ MORE
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NEW HOME CONSTRUCTION IN LAKOTA, LARIMORE, PART OF INITIATIVE TO SPARK RURAL HOUSING DEVELOPMENT
- A new initiative by the Red River Community Housing Development Organization (RRCHDO) has broken ground on the first of four new homes being built in Lakota and Larimore to encourage new housing in rural communities.
- The homes are being built as part of the initiative Spark Build 2024, and is an attempt to encourage private builders to build in rural communities, thereby increasing housing production in underserved rural communities.
- The initiative is part of RRCHDO's response to the housing shortage in northeast North Dakota, and includes a soon-to-be-completed rural housing study. The Red River Regional Council has also been involved in these efforts. READ MORE
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NEW APARTMENT COMPLEX SERVING LOW-INCOME SENIORS OPENS IN NORTH FARGO |
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- The Milton Earl Apartments is a $14 million complex of 42 affordable apartments for individuals 62 and older.
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NDHFA awarded funding for this project through Low Income Housing Tax Credits and the Housing Trust Fund. The involvement of at least a dozen community partners, including public and private organizations, made this project possible.
- The apartment complex features a rooftop patio, community room with kitchen, a lounge area, first-floor parking garage, in-home washers and dryers, a fitness center, salon, and a craft room. READ MORE
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FIRSTHOME PROGRAM INCOME LIMITS UPDATED
- Income limits vary by household size and county, with the state experiencing an average increase of 3.49%. Specific county limits are available at ndhfa.org.
- Through NDHFA’s FirstHome program, low- to moderate-income buyers who have not owned a home in the last three years as their principal residence, and who meet eligibility limits, qualify for purchase assistance. The agency’s HomeAccess program provides similar benefits to single parents, veterans, and families with disabled or elderly household members. READ MORE
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COMMUNITY DEVELOPMENT BLOCK GRANT PRE-APPLICATION PERIOD OPEN
- The Community Development Block Grant (CDBG) Program provides financial assistance to eligible units of local governments in the form of grants and loans for public facilities, housing rehabilitation and economic development projects. The primary beneficiaries of these projects must be very low and low-income individuals.
- CDBG pre-application deadline is July 25, 2024. READ MORE
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Farewell
Happy Retirement to:
Wayne Glaser, Property
Management Division Director
Kristi Seilinger, Loan Specialist
Service Awards
Ashley Wooden, 3 years
Kayla Axtman, 3 years
Weston Glasser, 5 years
New Participating Lender
KodaBank
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Calendar
August 9: Advisory Board Meeting
August 27-29: Main Street Summit, Watford City
September 2: NDHFA closed,
Labor Day
September 17-19: North Dakota Apartment Association Annual Convention,
West Fargo
September 30: Planning and Housing Development application deadline
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