Housing projects in six area communities will be getting funding through the North Dakota Housing Finance Agency.
The state Industrial Commission announced Monday that a demonstration program, the Rural Housing Investment Incentive Pilot, will be providing $400,000 in matching money for private sector investment in seven towns of fewer than 5,000 residents with a need for housing. The funds are meant to provide financing for projects that typically cannot generate enough income to support debt service and cover operating expenses.
Lutheran Social Services Housing Inc. is involved in three of the projects.
LSS Housing will receive $50,000 to rehabilitate a foreclosed and uninhabitable structure in Maddock into eight units of rental housing. The project will benefit local businesses that are trying to attract employees.
The agency will receive $50,000 to construct 20 rental units in Parshall. The project will redevelop two abandoned sites and address a need for work force and affordable housing.
LSS Housing is getting $100,000 to rehabilitate a former hospital building in Stanley into 16 rental units. The project will provide affordable units for low- and moderate-income seniors and working-age households.
The Eddy County Housing Authority will receive $50,000 to build a four-unit rental property in New Rockford to address a housing need for individuals and young families.
The Underwood Economic Development Corp. will receive $15,000 for a new single-family home. The funds will help fill the gap between the cost of construction and the value of the completed property.
In Velva, Whitetail Properties will receive $38,366 to rehabilitate an uninhabitable structure into three rental units to provide affordable housing.
Wishek Home for the Aged will get $96,634 for construction of eight assisted-living units.