1. Multi-Family Housing in a Rural Community Creating Partnerships, Facilitating Growth New Rockford Area Betterment Corporation

2. New Rockford, North Dakota Population 1,400 Eddy County 2,600 Located along State Hwy 281 Housing Crisis New Rockford Creating partnerships, Facilitating Growth in New Rockford, ND

3. Housing A need for single and multi-family housingSchool was hiring teachers, but no housingLimited rentals, old, dilapidatedLocal builder interested in building 8-plexSmall lot purchased from CityNRABC contacted builder to assist with plan Creating partnerships, Facilitating Growth in New Rockford, ND

4. Creating Partnerships Developer NRABC HIF NCP EDHA Local Lender Creating partnerships, Facilitating Growth in New Rockford, ND

5. Creating Partnerships New Rockford Betterment Corporation (Economic & Community Development) Consulted with Developer Discussed plans, wants, needs Conducted Research Researched housing options throughout state, made contacts Created plan for moving project forward Wrote grant and loan applications, Secured Investors, Facilitated Relationships Creating partnerships, Facilitating Growth in New Rockford, ND

6. Creating Partnerships North Central Planning – Regional Council Business Plan Cash Flow 15 Year Pro forma and Financial Projections Creating partnerships, Facilitating Growth in New Rockford, ND Regional Council

7. Creating Partnerships City of New Rockford Approved 5 years property tax abatement City of New Rockford Creating partnerships, Facilitating Growth in New Rockford, ND

8. Creating Partnerships Local Lender – Bank Forward Bank Forward was interested in financing a portion of the project Already had positive relationship with Developer Creating partnerships, Facilitating Growth in New Rockford, ND

9. Creating Partnerships Eastern Dakota Housing Alliance Grace Backman EDHA had some low interest loans available for applicable housing projects % of units needed to be income based Submitted Application September 2013 Creating partnerships, Facilitating Growth in New Rockford, ND

10. Creating Partnerships Housing Incentive Fund North Dakota Housing Finance Agenc y Discussed project with Jolene Kline at NDHFAWrote, submitted application for HIF fundsFocusing on Essential Service Workers – teachersSubmitted September 2013 Creating partnerships, Facilitating Growth in New Rockford, ND

11. Financing of Project EDHA 37% HIF 30% Bank Forward 33% 2 nd Avenue Apartments Creating partnerships, Facilitating Growth in New Rockford, ND

12. Timeline Spring 2013 Began project discussion Summer 2013 Research, Business Plans, Contacts Fall 2013 Wrote applications, secured investors Winter 2014 Received Approvals, Began Preparations Spring 2014 Broke Ground on 8-Plex Summer 2014 Finished 8-Plex, Moved in Tenants Creating partnerships, Facilitating Growth in New Rockford, ND

13. 2 nd Avenue Apartments (7) 2 bedrooms (1) 1 bedroom Laundry Facilities Elevator Attached Garages Creating partnerships, Facilitating Growth in New Rockford, ND

14. 2 nd Avenue Apartments 7 – 2 bedrooms 1 – 1 bedroom Laundry Facilities Elevator Attached Garages Creating partnerships, Facilitating Growth in New Rockford, ND

15. Questions & Comments Creating partnerships, Facilitating Growth in New Rockford, ND