CORRECTION: A number in the story was originally written incorrectly, that has now been corrected.
MINOT, N.D. (KXNET) — The Minot Housing Authority and Beyond Shelter Inc. are working together on a project for affordable housing.

Officials said it will go in next to the northwest high school. Schools, a store, and single-family homes will be surrounding this new project.

The Minot Housing Authority is replacing 40 housing units and adding 32 new ones.

At the end of September, they will be applying for financing and they’ll find out in December if they are approved or not.

If successful it will be a multi-year, multi-phase project breaking ground in the fall of 2024.
And, they plan to have the doors open in 2025.

Currently, the Minot Housing Authority owns 40 public housing units that basically just need to be repositioned transferring the rental assistance from those 40 units to the new development.

“By adding additional affordable housing it will have a huge impact. Impacts from a financial perspective. By transferring the payment lieu of taxes from the existing 40 units to the new development it is going to provide an additional $1.4 million in taxes paid,” said Dan Madler CEO of Beyond Shelter Inc.

In fact, the addition is so new it doesn’t even have an address yet.

By construction, it is going to support 109 jobs, and when the project is finished it is going to support 28 jobs annually.

Madler says the total cost of this project is around $24 million with $20 million of that coming from private investments.

“And what the means from the pilot request. We requested a 17-year pilot request for the new project. Currently, the Minot Housing Authority is paying $2,300 a year in the form of a payment lieu of taxes to the three taxing entities, and when we transition that to a 17-year-old pilot request the Minot Housing Authority will pay an additional $200,000 to the local taxing jurisdictions for this new project,” said Madler.

Officials said they have a lot of support and they thought of this location intentionally.