Jack Dalrymple on Welfare & Poverty
$15 million in our Housing Incentive Fund and FlexPace
A great challenge facing our state is the supply of housing. More housing is on its way, but high rents have caused the greatest challenge for people in the low to moderate income category. To meet this challenge we are currently making direct
investments in low income housing through our new Housing Incentive Fund administered by our own Housing Finance Agency. These housing projects are popping up throughout North Dakota and have rents that are capped by long-term agreements with the
developers. Single bedroom units have become available in the $300-$400 range.
Two years ago we challenged the taxpayers of North Dakota to invest $15 million in our Housing Incentive Fund in exchange for state income tax credits.
This will result in the construction of 739 housing units valued at $104 million. Despite this good progress, the need for affordable housing is so great that we recommend increasing the Housing Incentive Fund in the coming two years to $50 million.
Source: North Dakota 2013 State of the State Address
, Jan 8, 2013
Page last updated: Jul 14, 2017