Slawson Exploration, a privately held oil and gas exploration company, made a $300,000 contribution to the North Dakota Housing Incentive Fund (HIF) in October.
“Our employees are our greatest resource, and we make every effort to provide them with a satisfying, rewarding, and well-compensated career,” said R. Todd Slawson, president of Slawson Exploration. “We are interested in them not only professionally, but personally as well, so providing decent housing is a priority for us. They work hard and deserve a good home for themselves and their families; so, we are happy to be in a position to make this happen.” Slawson Exploration targeted its contribution to The Willows, a 40-unit family-friendly development that will provide affordable workforce housing in Burlington, ND.
Capitalized by contributions from state taxpayers, HIF provides developers of rental housing with low-cost financing if units are set aside for essential service workers and low- to moderate-income households. North Dakota Housing Finance Agency (NDHFA) administers the program. The North Dakota Industrial Commission, consisting of Governor Jack Dalrymple as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the agency.
“With the demand for development resources growing, more local, state and private dollars are needed to address North Dakota’s affordable housing needs,” said Jolene Kline, NDHFA acting executive director. “I thank Slawson Exploration for supporting the needs of North Dakota’s workforce and the communities in which it is operating.”
The Industrial Commission oversees the state’s housing development efforts and urged the legislature to reauthorize HIF during the 2013 session. NDHFA received a $15.4 million general fund appropriation to support the program and was authorized to further capitalize HIF by issuing $20 million in state tax credits.
“Creating affordable housing is one of North Dakota’s top priorities,” said Kline. “By contributing to HIF, businesses and individuals help address this need and have a say in how their tax dollars are spent.”
Eighteen housing projects received funding commitments from NDHFA this summer. The agency is currently reviewing additional development applications and will announce more commitments very soon.
Contributions can be targeted to a specific project or designated for general use in a community or region. Individuals and businesses contributing to the fund receive a dollar-for-dollar state tax credit.
For more information on the Housing Incentive Fund, contact NDHFA at (701) 328-8080, (800) 292-8621 or http://www.ndhousingincentivefund.org.
Slawson Exploration Company, Inc. (SECI) is a privately held oil and gas exploration company founded by Donald C. Slawson in 1957. By employing advanced drilling techniques, SECI has drilled more than 4,000 wells in 10 states including hundreds of lateral wells in 14 different formations within 7 basins.
NDHFA is a self-supporting state agency that finances the creation and rehabilitation of affordable housing across North Dakota.
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