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Associated Press, Published January 03 2013

Housing fund contribution met in ND oil country

BISMARCK — Officials say contributions have been met for a fund aimed at building affordable housing in North Dakota's booming oil patch.

The North Dakota Housing Finance Agency says more than 600 private investors have successfully capitalized the agency's $15 million housing incentive fund.

The program gives individual and business donors a dollar-for-dollar tax credit, and they can designate their contributions for specific projects.

The Legislature approved $15 million in state income tax credits in 2011 to subsidize construction of $104 million in low-income dwellings.

Copyright 2013 The Associated Press.