INFORUM.com | WDAZ.com

WDAY: The News Leader

Published September 19, 2013, 08:52 AM

Oil company gives $500K to North Dakota housing fund

BISMARCK, N.D. (AP) — Houston-based Marathon Oil Corp. has contributed $500,000 to a North Dakota fund aimed at building affordable housing, primarily in the state's booming oil patch.

BISMARCK, N.D. (AP) — Houston-based Marathon Oil Corp. has contributed $500,000 to a North Dakota fund aimed at building affordable housing, primarily in the state's booming oil patch.

The North Dakota Housing Finance Agency's low-income housing development program gives individual and business donors a dollar-for-dollar tax credit, and they can designate their contributions for specific projects. The Legislature this year approved general fund spending of $20 million and $15.4 million in state income tax credits to subsidize construction of low-income dwellings.

Officials say the program's goal is to build at least 1,000 low-income units in North Dakota over the next two years.

Marathon's contribution this week brings to $3.5 million the amount the company has given to the fund since 2011.

Tags: