The City of West Fargo is committed to encouraging the creation of high-quality, affordable housing for its residents through the low-income housing tax credit (LIHTC).
Historically, the City preferred private townhome-style apartments over the larger box style. Additionally, when the preferred style apartments enter into rent restrictions for lower income persons, the City will consider a 15-year Payment in Lieu of Taxes (PILOT) in conjunction with the LIHTC provided by the federal government.
While there is a set of guidelines especially formulated for the LIHTC program, the application is the same as the new industry/PILOT application. The qualified project must file an annual report each December to be eligible for the exemption. The report must reflect the amount of rent charged for the project. The exemption will run for a 15-year period if the rent stays at the specified levels.
The West Fargo Economic Development Advisory Committee will review the application and make a recommendation to the West Fargo City Commission.
For more information on applying for the exemption, please visit the city’s Economic Development website.