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Fargo panel approves property-tax incentive for 65-unit low-income housing redevelopment
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Summary
The EDIC unanimously approved a 15-year property-tax incentive for a 65-unit Fargo Housing Authority redevelopment at 17th Street and 25th Avenue South, financed with 9% LIHTC and project-based vouchers; the project targets households at or below 50% AMI.
The Economic Development Incentive Committee approved a property-tax incentive to support a Fargo Housing Authority redevelopment that will replace a former public-housing site with a 65-unit low-income housing development.
The committee voted unanimously after a roll call, with recorded 'Aye' votes from Cosgrove, Eisert, Pabert and Mayor Mahoney. Committee discussion and the presentation emphasized the project’s financing and tenant protections: the development is proposed to be financed in part with 9% low-income housing tax credits and state funds, and 100% of the units would be project-based vouchers.
The presenter described the site as a 3-acre parcel at 17th Street and 25th Avenue South, formerly 14 duplexes that HUD approved for removal following a cost-benefit analysis. The planned 65 units would include 32 one-bedroom, 22 two-bedroom and 13 three-bedroom apartments. The presenter said the proposal is tied to a 15-year pilot that aligns with the 15-year tax-credit compliance period.
On eligibility and resident income limits, the presenter said the project would limit occupancy to households at or below 50% of area median income; for a one-person household the 50% threshold was stated as $40,500. The presenter also said the housing authority currently has more than 400 people on waiting lists for existing projects and that vouchers waiting lists are closed, noting the new project would create opportunities for those people to move into units more quickly.
Committee members asked about site access, parking and neighborhood amenities; the presenter said parking would be on-site (no garages) and that sidewalks and a nearby bike trail will be tied into the site design. Several members framed the project as meeting an identified priority for serving very low-income households.
The motion to approve the property-tax incentive for the Fargo Housing Authority project was moved and seconded and carried on a recorded roll call. The presenter confirmed the housing authority and staff will continue coordination with HUD and local bodies, and the committee noted related meetings with the school board and county were scheduled or forthcoming.
The committee adjourned after completing the action.
