INFORUM.com | WDAZ.com

WDAY: The News Leader

Published January 03, 2013, 09:34 AM

Housing fund contribution met in North Dakota oil country

BISMARCK, N.D. (AP) — Officials say contributions have been met for a fund aimed at building affordable housing in North Dakota's booming oil patch.

BISMARCK, N.D. (AP) — Officials say contributions have been met for a fund aimed at building affordable housing in North Dakota's booming oil patch.

The North Dakota Housing Finance Agency says more than 600 private investors have successfully capitalized the agency's $15 million housing incentive fund.

The program gives individual and business donors a dollar-for-dollar tax credit, and they can designate their contributions for specific projects.

The Legislature approved $15 million in state income tax credits in 2011 to subsidize construction of $104 million in low-income dwellings.

Tags: