MINOT, N.D. - As the city of Minot's flood protection work gets underway this year, families who need to leave a home that lies in the floodplain can get help from the federal government.
It's called the 'Gap Financing Program.'
Residents who qualify as low-to-moderate-income homeowners can participate.
As part of a grant from Housing and Urban Development to the city, homeowners could receive up to $60,000 for a new home.
“Buy or build. Inside Minot. Outside the 100 year flood plain. It doesn't cost more than $253,000. Then you could be eligible for the gap financing program. Again, the whole idea is to encourage and promote the Minot residents who have been adversely effected by the flood be encouraged to stay in Minot. And what we are trying to do is be as helpful as we can,” said John Zakian, NDR Program Manager.
We have attached an info document to this story with more information on the program.