State officials are making a last-minute pitch to North Dakota income tax payers – to take advantage of a program that will provide money for affordable housing projects – and give taxpayers who donate to that fund a dollar-for-dollar income tax credit.
The North Dakota Housing Incentive Fund is set up to provide capital for affordable housing projects. It’s limited to $15-million – but only $11.3 million has been collected so far.
"There are shovel-ready projects ready and waiting in a number of communities in North Dakota, simply waiting for these investments to come in," said Gov. Jack Dalrymple, the chairman of the state's Industrial Commission, which oversees the Housing Finance Agency. "The Housing Finance Agency is ready to leverage that with other dollars, and get projects underway."
HFA director Mike Anderson says he's confident the fund will reach $15 million before Dec. 31st.
"The concern we have is that we have three weeks to get this dome," said Anderson. "That's why we're pushing so hard to get the word out to taxpayers."
Dalrymple says the need for affordable housing is so great – he plans to ask the 2013 Legislature to expand the program to $30-million.
WPX Energy has donated $100,000 to the fund – with the money being earmarked for a project in Parshall.