Daily Journal masthead

ND Housing Incentive Fund capitalization process kicks off; Wells Fargo gives $1 million


BISMARCK, North Dakota — Officials from Wells Fargo Bank have given $1 million to the state to help kick off North Dakota's Housing Incentive Fund.

The fund is to help developers who pledge to build affordable and low-income housing. Those who contribute are eligible for dollar-for-dollar state tax credits. The North Dakota Industrial Commission, the North Dakota Housing Finance Agency and Wells Fargo held a ceremony Thursday afternoon in Bismarck.

Officials announced that 24 developments have been awarded assistance from the fund for the new biennium and that the funding will help create 985 housing units.

The housing finance agency began accepting contributions into the fund on July 1. To honor its financial commitments, the agency must raise $30 million by Dec. 31, 2016.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)




Follow Daily Journal:

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.