WEST FARGO — The city plans to continue its low interest loan program for residents who live north of Interstate 94 and want to make home improvements.
The Neighborhood Revitalization Program first began in 2019 when the city partnered with Gate City Bank. On Monday, April 5, the commission approved a 2021 partnership with Gate City Bank, who will set aside $2 million to be given to the program.
To be eligible for the loan, the project should include such things as energy improvements, health and safety code deficiency corrections, structural improvements, and general property improvements. Project costs must be between $10,000 and $75,000 and must be for owner-occupied single-family homes located in the city, north of I-94.
In 2019, there were nine applicants for about $265,000 in loans. In 2020, due to the COVID-19 pandemic, there were only three projects enrolled in the program, said City Planner Malachi Petersen.
"We're hoping to increase that number this year," Petersen said.
"We're very excited to partner with you guys again this year," said Brandi Haugen with Gate City Bank. "We've got a lot of great things going in West Fargo.