XTO Energy Donates $5 Million to Housing Incentive Fund

By  | 

XTO Energy is donating $5 million toward the construction of affordable housing in the western part of the state.

Gov. Jack Dalrymple received a check from XTO Energy that's a contribution to the state's housing incentive fund.

"We were certainly excited because $5 million is a long way in reaching our goal of $30 million. And it means that we got those funds to that are available now to put in to these housing projects, so they can start construction," said Jolene Kline, North Dakota Housing Finance Agency executive director.

Four projects will split the $5 million grant. Those are Killdeer Employee Housing, Wolf Run Village in Watford City, Watford City Apartments and Williston Station.

"It's a huge, huge start to the project; it's a huge benefit to the community. For one thing, we were awarded $3 million in tax credits for this project because of the size and scope of the project. So for this, we're already a third of the way there," said Bill Fisher, Sonoma Housing Advisors president.

More than half of the 287 units in the development selected are for employees of the city, county, school districts and medical facilities.

"To have a company like XTO as your investor, if you want to call it that, I'm not sure you can get a better stamp of endorsement," said John Phillips, Luther.

The Housing Finance Agency finances affordable housing projects across the state. Last month, they announced commitments to 24 projects.

"Jolene and her crew do a fantastic job. They are experts in low income housing projects; they handle all of our federal state credits," Dalrymple said.

Affordable housing need isn't just a state issue; it's receiving a helping hand from the private industry.

It's the largest donation in program history.

Anyone who contributes to the housing incentive fund receives a tax credit that matches their donation.