Communityworks North Dakota
Rating: 0 stars 0 0 review 43
200 1st Avenue Nw Mandan ND 58554 USA
Providing affordable housing & development opportunities to revitalize communities & improve the standard of living & quality of life for north dakotans. Provide low interest loans for emergency home repairs, mortgage assistance, 1st mortgage loans, & construction loans.
Revolving loan program - provides affordable loans, with terms based on the borrower's capacity to repay, for down payment and closing cost assistance, rehabilitation loans, loans for emergency repairs, and other mortgage assistance, including construction and first mortgage loans. In 2014, 33 mortgage loans totalling $1. 15 million were awarded. Three loans for financing development of affordable housing were closed in 2014 totaling $303,565 for 32 new housing units. Client fees and loan interest are used to administer the program in addition to grants and contributions.
grant paid to lewis & clark regional development council - the lcrdc was instrumental in starting communityworks north dakota and funded start-up costs. The start-up costs were never recorded as a payable back to the council because there was no certainty of repayment at that time. Cwnd determined adequate funds were available to repay these funds in 2014 and they had to be expensed because there was no payable every recorded.
housing education and development - cwnd helped facilitate or provided homebuyer education, required by some finance/funding sources, to 165 prospective homeowners.
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