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North Dakota Affordable Housing fund gets $7.5M

North Dakota lawmakers are reinstating a program that subsidizes affordable housing projects, but the state funding is much lower than supporters had hoped.

The Bismarck Tribune reports that legislators approved $7.5 million for the Housing Incentive Fund, which has helped finance 2,500 rental units since 2011. The North Dakota Housing Finance Agency’s program wasn’t funded in 2017 due to limited state resources.

Gov. Doug Burgum had proposed allocating $20 million to bring back the housing incentive for 2019-2021. Lawmakers considered funding proposals of up to $40 million for the program.

The housing agency’s executive director, Jolene Kline, says she’s disappointed by the funding amount but pleased that the program has been restored.

Kline says the agency can likely support 150 rental units. She says they’ll solicit proposals in September.

By tri-cityherald

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