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Housing Incentive Fund: agencies report strong demand; seven multifamily projects awarded in first application round
Summary
Jennifer Henderson of the Housing Finance Agency said the HIF continues to be oversubscribed; in the 2025–27 biennium one application round funded seven projects and left about $6 million for a second round in 2026.
Jennifer Henderson, community housing and grants manager at the North Dakota Housing Finance Agency, updated the Budget Section on activity in the Housing Incentive Fund (HIF). She said a total of $35,000,000 was appropriated for the 2025–27 biennium (less a $150,000 veto) with $20,000,000 earmarked for multifamily and $5,000,000 for single-family activity.
Henderson said the first multifamily application cycle for the biennium received about $27,000,000 in requests; seven projects were funded in that round, leaving roughly $6,000,000 available for the next multifamily round in September 2026. She also described the single-family program and community land trust activity that has allocated $2.8 million so far.
Committee members raised concerns about geographic concentration of awards and whether market and underwriting work adequately assesses need. Henderson said the agency requires a market study for each multifamily application, applies geographic limits in some credit programs and awards preference points to projects in communities of 20,000 or fewer to encourage rural distribution.
