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Traill County EDC weighs using regional Housing Incentive Fund model to spur $300K starter homes
Summary
TCEDC Executive Director Jim Murphy said the commission is exploring adapting a Housing Incentive Fund model used in neighboring towns to support starter homes priced about $300,000–$350,000 and 1,300–1,700 sq. ft., with MPEDC currently holding two outstanding HIF forgivable loans.
TCEDC Executive Director Jim Murphy told the board the commission is reviewing regional Housing Incentive Fund (HIF) approaches and would like to adapt a model used in nearby communities where homes in the $300,000–$350,000 range have been resold without continuing HIF subsidies.
"I would like to take that model and apply it in Traill County," Murphy said, noting MPEDC has two outstanding HIF forgivable loans and several local governments are preparing housing starts. The executive director said the county's housing study and targeted incentives are intended to attract builders to produce starter homes roughly 1,300 to 1,700 square feet.
Why it matters: Murphy framed the effort as a way to standardize TCEDC loan paperwork and projections, reduce administrative variability, and encourage private builders to produce saleable starter homes without long-term subsidy. Board members discussed lining up the business assistance committee to verify processes "line by line" and to coordinate with local EDCs that have set aside funds for housing starts.
Next steps: Murphy said staff would continue conversations with regional partners, follow up on the housing study’s findings, and convene the business assistance committee in the coming months to translate the model into local program steps.
