Flood Recovery Help for Landlords - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Flood Recovery Help for Landlords

Posted: Updated:

A new program to help build new apartment units in Minot's valley could mean more choices for people wanting to rent.

The city has set aside about five million dollars for the project to offer a five-year loan that turns into a grant as long as landlords keep prices low.

City Finance Director Cindy Hemphill says the program targets property owners who have found it impossible to rebuild because of the high costs.

(Cindy Hemphill, Minot Finance Director) "It's basically a forgivable loan because if you stay with the program for five years, we'll reconstruct or rebuild for you at no cost. If you elect to get out of the program then you'll have to pay the money back before that time period. I believe we have $75,000 for a single family type unit, and if it's a duplex it's $75,000 for the first unit and then $50,000 for the next unit up to four units."

The rental rehabilitation and reconstruction program is taking applications now through the end of March.

After that, Hemphill says the hope is to get all the loans awarded by the end of the year.

Applications are available at the disaster recovery office in Arrowhead Shopping Center, or online at minotnd.org.

  • Minot/Williston NewsMore>>

  • Sentence on Assault Charge

    Sentence on Assault Charge

    Monday, July 28 2014 7:48 PM EDT2014-07-28 23:48:15 GMT
    A Belcourt man has been sentenced to 33 months in federal prison for assault with a deadly weapon.
    A Belcourt man has been sentenced to 33 months in federal prison for assault with a deadly weapon.
  • Minot Man Arrested on 4th DUI

    Minot Man Arrested on 4th DUI

    Monday, July 28 2014 7:47 PM EDT2014-07-28 23:47:23 GMT
    Authorities arrested a Minot man on his 4th DUI charged this weekend.
    Authorities arrested a Minot man on his 4th DUI charged this weekend.
  • Sheriff on Fair Arrests

    Sheriff on Fair Arrests

    Monday, July 28 2014 7:42 PM EDT2014-07-28 23:42:31 GMT
    Ward County sheriff's deputies were busier than ever over the past ten days...providing security at the North Dakota State Fair.
    Ward County sheriff's deputies were busier than ever over the past ten days...providing security at the North Dakota State Fair.
Quick Clicks
Closings/Delays
View list
Calendar
What's happening?
Lottery Results
Feeling lucky?
Viewer Photos
Submit yours!
Road Report
Current conditions
TV Listings
See what's on
Gas Prices
Check near you
E-Mail Newsletter
Signup now

Most Popular

Stories
Videos
loading...
Powered by WorldNow
General information or questions:
kxinfo@kxnet.com

News:
Bismarck:
Phone: 701-223-9197
News Fax: 701-223-1985

News:
Minot:
Phone: 701-852-2104
News Fax: 701-838-1050
All content © Copyright 2000 - 2014 WorldNow and KXNET. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.