Create More Affordable Housing
National Disaster Resilience Program
Goal:Create More Affordable Housing
Single Family: One of Minot's most serious unmet recovery needs is the lack of affordable housing in quality neighborhoods, like those lost in the valley that flooded. The goal of the home-ownership program is to give opportunity for those affected by the flood and the buyouts to purchase homes to remain in the Minot area. One of the issues following the flood was a lack of quality homes in the Minot area. As a part of the single family affordable housing, the City will work with a local architect to develop quality designed and quality constructed homes that will be available for purchase by those affected by the flood. The city will enter into a sub-recipient agreement with North Dakota Housing Finance Agency to administer the gap financing program. The gap financing program is targeted to begin in early 2018 with the new construction of homes in a resilient neighborhood to follow.
Multi-Family: One of Minot's most serious unmet recovery needs is the lack of affordable housing in quality neighborhoods, like those lost in the valley that flooded. Long-time residents and skilled workers left Minot after the flood, due in part to high housing costs. The city continues to experience serious consequences because it lacks adequate affordable housing for service workers, hospital technicians, police, EMTs, firefighters, and military personnel. Developing affordable multifamily rental housing will allow the households that move from the buyout areas to remain in Minot. The construction of affordable multifamily rentals will provide housing that is not as susceptible to the volatility of the rental market that is brought on by the production of oil. In order to achieve this activity, the city plans on releasing multiple RFPs and entering into sub-recipient agreements throughout the grant period.
Program Goal Milestones
- Gap Financing
- Resilient Neighhborhood
- Construction on Park South underway