Low Income Housing Tax Credit Program
Forecasted
Low Income Housing Tax Credit Program supports property owners with tax credits for rental housing construction and rehabilitation to expand and preserve affordable homes for low-income North Dakotans.
Funder: North Dakota Housing Finance Agency
Due Dates (Anticipated): August 2027 (4% credits) | September 2027 (9% credits)
Funding Amounts: Federal tax credits for up to 10 years; 2027 plan lists $3,701,073 in competitive 9% credits
Summary: Supports the construction and rehabilitation of affordable rental housing serving low-income households in North Dakota.
Key Information: Owners must commit to at least 30 years of low-income occupancy restrictions and waive qualified-contract rights.
Description
The Low Income Housing Tax Credit (LIHTC) Program is administered by the North Dakota Housing Finance Agency (NDHFA) to encourage investment in affordable rental housing throughout North Dakota. Property owners receive federal income tax credits based on their capital investment and commitment to low-income tenancy. Eligible development activities include new construction, rehabilitation, acquisition with rehabilitation, and adaptive reuse.
NDHFA allocates credits under its Qualified Allocation Plan and Internal Revenue Code Section 42. The program includes competitive 9% credits and noncompetitive 4% credits for tax-exempt bond-financed developments. Selection priorities include serving lower-income households, preserving existing affordability, redevelopment, accessibility, green building, and housing for families or older persons. This opportunity provides housing-development tax credits, rather than HOME CHDO operating grants.
