[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6386735,"mediaKeyId","2117625-4ad41315f35e2af4a08ef7e6c577a437","parentId",2117625,"title","North Dakota Housing Finance Agency requests $40M for Housing Incentive Fund, transfer of homeless grant and five staff additions","audioSeconds",1926,"startMs",6829000,"endMs",8755000,"viewUrl","/Search/View?dp=1&key=2117625-4ad41315f35e2af4a08ef7e6c577a437&start=6829&end=8755","thumbnailUrl","https://assets.pipeline.soar.com/2117625-4ad41315f35e2af4a08ef7e6c577a437/thumbnail_6829000.jpg","articleUrl","/articles/6386735/North-Dakota/North-Dakota-Housing-Finance-Agency-requests-40M-for-Housing-Incentive-Fund-transfer-of-homeless-grant-and-five-staff-additions","mediaUrl","https://secure.pipeline.soar.com/6386735-5f132d4fc1e8ced0465a946fedf00a8a/orig.mp4?Expires=1771172608&Signature=VD3K3eIDLXdZtO41RvrllFEmirNDzWPfbzrdVLjSQHJcUL46cNtNfi5mDd-MJOsTUDvx-OgvyA4O7p4H-U3uQzezsUBR9zKrGfY-2yozr72HAw57u~Dux2b26OT26-sCmBAgQkD4iCdMYMrSytPv2TdYCe9J9-KiZ3oCirPpWR3WZlx1bhqoBrJ6JpKOALJgih541H83QeIZu5eyiPf8MQvIzB4RnsDlM2qx2qZoxFVxeO9qA5o9TebSK9tqXOjfNg9Tc9nEjCbIpvydGRR4mZ82Osz9ItcM2Gdw3P38zdRr~FYP8HmDwKiy47tj9Yh83jFLPS9gbQE~QLOJ1BrWfg__&Key-Pair-Id=KUT5TJCACFTXG","author","Senate Appropriations - Education and Environment, ND","date","2025-01-14T00:00:00Z","article","Dave Flor, executive director of the North Dakota Housing Finance Agency, told the Appropriations - Education and Environment Division on Jan. 15, 2025, that the agency is requesting additional capital for the Housing Incentive Fund (HIF), transfer and administrative consolidation of the state homeless grant into HIF, and five additional staff positions to handle increased program volume.

Flor cited an updated housing needs assessment from North Dakota State University that projects up to 20,000 new housing units needed statewide in 2025–27 if current demographic and household formation patterns continue. He said the agency’s request to the legislature includes $40,000,000 for HIF and $10,000,000 for the North Dakota Homeless Grant (the agency proposed moving homeless grant funds into HIF for administrative efficiency while keeping the dollars segregated and accountable).

Flor described the agency’s homeownership programs: the first‑time homebuyer program (bond‑funded) and the North Dakota Roots program for non‑first‑time homebuyers. The agency reported it purchased roughly $500,000,000 in loans in the previous year, that it currently services about 13,400 loans, and that servicing workload is approximately 1,000 loans per FTE versus a Mortgage Bankers Association industry guideline of about 835 loans per FTE. Based on that ratio the agency said it is short roughly three servicing positions and is requesting five total new FTEs across acquisition, servicing and program management if HIF/homeless appropriations increase.

Flor said HIF and other multifamily programs are oversubscribed: the agency reported about $362,000,000 committed in 115 infrastructure revolving loan fund loans to 71 communities and $527,000,000 committed in 65 school construction loans to 53 districts (figures through Dec. 31, 2023). He said the homeless programs that moved into the agency this biennium are oversubscribed by roughly $6,500,000 and multifamily/state programs by about $46,500,000 for the current biennium.

On homeownership limits, Flor said the program follows IRS rules for tax‑exempt mortgage bonds; income limits and purchase price caps apply and vary by county and household size. He noted a recent ceiling on purchase price limits near about $465,000 and the highest household income limits around $120,000, depending on county and family size. The agency noted sensitivity to insurance cost and deductible changes and said it monitors such changes for potential program adjustments.

Flor asked the committee to consider statutory appropriation language to allow the agency to continue purchasing loans and cover servicing release premiums if volumes increase; the agency noted that those servicing release premiums are paid from agency revenue and can vary with market conditions. No formal vote was taken; the committee indicated further consideration and scheduled a separate hearing (Senate Bill 202030, including housing/homeless provisions) for follow‑up.

Ending: Agency requested funding and staffing to respond to projected housing demand; committee planned a bill hearing on the broader housing and homeless bill and will continue review during bill and budget hearings.","mediaType","Video","parentTitle","Senate Appropriations - Education and Environment Division Jan 14, 2025","oneSentenceSummary","Dave Flor, executive director of the North Dakota Housing Finance Agency, told the Appropriations - Education and Environment Division on Jan. 15, 2025, that the agency requests $40 million for the Housing Incentive Fund, a $10 million homeless grant appropriation (proposed to be transferred into HIF), and five additional staff positions to manage program demand tied to an NDSU housing needs projection.","taxTitle","Appropriations - Education and Environment Division, Senate, Legislative, North Dakota","taxId",28899,"location","North Dakota","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6386740,"Bank of North Dakota lays out mission, new capital policy and recommends $212M dividend for 2025–27",2553,3175000,5728000,"/Search/View?dp=1&key=2117625-4ad41315f35e2af4a08ef7e6c577a437&start=3175&end=5728","https://assets.pipeline.soar.com/2117625-4ad41315f35e2af4a08ef7e6c577a437/thumbnail_3175000.jpg","/articles/6386740/North-Dakota/Bank-of-North-Dakota-lays-out-mission-new-capital-policy-and-recommends-212M-dividend-for-202527","https://secure.pipeline.soar.com/6386740-328ea3c05461f0d5d277a3268379cc8c/orig.mp4?Expires=1771172608&Signature=RE6eDT0oLQG~rfNsIi~hBlfLUrI8ZBVZje2c9hgmtok2LAKhZdM4OLjMjhAjyh8wq2MwSHhMDLV3gbu~J4oqVaEpCTiOAzLnrH9RFx-x~XQhgob1DyZoH~kCSSnO~H7gEmJtZmUQyyXZafNRNHqWh6~syC~FO7ls~I13QsRP2FycpP76hdvlZjARJOxbz014oEvYDpvnr-9rsJXkUOV-6AHW4uO4of~5ymCz4RSFhkJLmqFvml-RLN1m2XEn70Vr76WJ1EKEvSilslfwsb0UGhChxrOEeMzuFIU0vQdeaWjSL7iCqXNwOI3XXZdB-tFGHr3wLYxHR0AjofLiE3NlxQ__&Key-Pair-Id=KUT5TJCACFTXG","Don Morgan, president and CEO of the Bank of North Dakota, told the Appropriations - Education and Environment Division on Jan. 15, 2025, that the bank is clarifying a mission order that places risk management and liquidity provision above pure return, and that the institution adopted a dynamic capital policy to guide dividends and capital buffers.

“We are risk managers. Return is not our top priority,” Morgan said. He described the bank’s mission stack as (1) risk management, (2) providing liquidity to the state, (3) leveraging deposits to support economic development, and (4) generating return as a for‑profit institution owned by the state’s Industrial Commission.

Morgan said the bank holds roughly $10,000,000,000 in assets, keeps about $4,000,000,000 in liquid securities, and leverages deposits into approximately $6,000,000,000 of loans (with core participations of about $4,000,000,000). He told the committee the bank has proposed and the Industrial Commission has approved a capital policy that targets a roughly 12% capital range and that the bank’s recommended dividend for the 2025–27 biennium is $212,000,000 — approximately 54% of the prior two years’ earnings — with a proposed split that includes $140,000,000 to the General Fund and $60,000,000 for buy‑down programs.

Rob Fenning, chief financial officer, presented the bank’s operational change package for 2025–27 and described a requested operations adjustment of about $3,180,000 that includes true‑ups for a July 1 4% staff increase ($641,000), health insurance adjustments (~$439,000), and market‑equity/promotions timing differences (~$2,100,000). Fenning said the total operations request would leave the bank’s 2025–27 operating budget roughly 0.9% higher than the 2023–25 biennium.

Kelvin Hollitheim, the bank’s chief business development officer, summarized the bank’s administration of multiple legislatively directed programs: the Infrastructure Revolving Loan Fund (115 loans, $362,000,000 committed to 71 communities as of Dec. 31, 2023), the School Construction Revolving Loan Fund (65 loans, $527,000,000 committed to 53 districts), and several other loan funds and buy‑down programs. Hollitheim explained how the bank has moved portions of loans into the Legacy Fund to manage cash flow for the Infrastructure Revolving Loan Fund and described demand for additional capital infusions to reach self‑sustainability targets for those revolving funds.

Morgan said the bank will roll out an Ag Disaster Relief Program for 2024 losses that would let affected borrowers amortize operational losses over 25 years at a below‑market rate, and said the bank expects demand for that program.

On capital policy, Morgan and staff described buffers layered on top of FDIC‑style base capital requirements, enterprise‑risk‑management buffers, and additional buffers tied to the bank’s unique constraints (for example, the inability to raise private capital quickly). Morgan emphasized stress testing and a yearly presentation of capital needs to the bank’s advisory board and the Industrial Commission before dividend recommendations are made to legislative leadership.

Committee members asked for additional detail about specific legislatively directed programs and for clarification on some accounting and operational items. No committee votes were taken; the bank’s presentation will be followed by legislative budget work and conversations about cash management and program capital infusions.

Ending: The committee accepted the presentation for follow‑up; the bank will continue to brief the Industrial Commission and legislative leaders on capital policy, program demands and dividend recommendations.","Don Morgan, president and CEO of the Bank of North Dakota, told the Appropriations - Education and Environment Division on Jan. 15, 2025, that the bank’s new dynamic capital policy targets a roughly 12% capital range and that the bank recommends a $212 million dividend for 2025–27 while prioritizing risk management and liquidity.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6386744,"North Dakota Mill and Elevator requests budget boosts to expand capacity, urges keeping General Fund transfer at 50%",1454,178000,1632000,"/Search/View?dp=1&key=2117625-4ad41315f35e2af4a08ef7e6c577a437&start=178&end=1632","https://assets.pipeline.soar.com/2117625-4ad41315f35e2af4a08ef7e6c577a437/thumbnail_178000.jpg","/articles/6386744/North-Dakota/North-Dakota-Mill-and-Elevator-requests-budget-boosts-to-expand-capacity-urges-keeping-General-Fund-transfer-at-50","https://secure.pipeline.soar.com/6386744-58cd783efb97646ac825309e40152bb9/orig.mp4?Expires=1771172608&Signature=j~WtNH1pYriCouPFrQ5NfjnSSJFgF-hBNNelCqkrb4~wk8TVCK6uk768Q82AwEMNw0BjrXDBYdDrNKFb7b~0JziUjTyIESwj0gQUPg5F74KpHY-uobOOfs1jX9kjaDcQ-MS~KxI8wQzosPjVDFTU6GMuaJo~rrQCanqwCQPYHt9R5MTocqSxykVK-KM7rlabD3Jy2L59AmYqVsl9HJ4Y0eox5bEmH3krdcQQkyiPav~lInCx8yGzRCzo1J3bAElvzvqfxttQNSuwMn0XfIVVMX6QnoMQSHvvKNGW-rm7mBJ5E7e-0frpzbA3cl7JcWqngtloBEhnZyzE~xltY2EI0g__&Key-Pair-Id=KUT5TJCACFTXG","Vance Taylor, president and CEO of the North Dakota Mill and Elevator, told the Appropriations - Education and Environment Division on Jan. 15, 2025, that the state-owned milling complex is seeking additional operating and capital flexibility to support planned capacity increases and to complete a $56,000,000 mid‑storage and handling (MIDS) project scheduled for March 2025.

Taylor said the mill returned record profits of “over $20,000,000” in fiscal 2024, transferred about $9,800,000 to the General Fund and just over $1,000,000 to the Ag Products Utilization Fund (APUF), and expects sales and production targets of roughly 19,500,000 hundredweights in future years. “We currently transfer 5% of our profits to the Ag Products Utilization Fund, and 50% of the remaining profits to the General Fund,” Taylor said.

The mill, located in Grand Forks, described itself as the largest single‑site wheat flour mill in the state and among the largest in the United States. Taylor and Kathy Dube, the mill’s chief financial officer, outlined production and financial metrics: the complex operates multiple milling units, ships predominantly bulk flour, processed roughly 130,000 bushels per day of spring and durum wheat, and reported record purchases of roughly 37.2 million bushels in fiscal 2024, tracking toward about 40,000,000 bushels for the current year.

Dube, presenting budget details, said the mill’s salary and wage appropriation request for the 2025–27 biennium is about $61,960,000 — “requesting the total amount of the FTE funding pool that was removed from the 23,25 biennium” — and that operating expenses for the biennium are being requested at about $45,000,000 (a 6.3% increase from the 2023–25 biennium). She also described a change package that would add two additional FTEs (car‑checker positions) and restore FTE funding pool amounts removed in the prior biennium. “The 2 additional FTEs are for car checker positions... to bring both the 2nd shift car checking crew and the 3rd shift car checking crew to 5 employees,” Dube said.

Taylor gave a debt breakdown: total debt of about $108,000,000 composed of roughly $47,000,000 on the operating line, $23,000,000 on a term loan and $38,000,000 on construction financing for the MIDS project. The mill said it has invested about $115,000,000 in capital projects over the last six fiscal years and has another ~$37,900,000 in projects underway.

Committee members questioned assumptions used for wage projections (the mill used a 4% annual wage increase estimate for contract negotiations beginning in June 2025), the timing of hiring additional shifts, and the requested increases in specific operating lines such as “operating fees and services,” which the mill said reflects higher fumigation and heat‑treatment costs. Taylor and Dube noted market and regulatory headwinds — elevated interest rates, inflationary pressure on input costs, volatile grain markets and evolving food‑safety rules — as ongoing challenges.

Taylor asked the committee to maintain a 50% General Fund transfer of remaining profits (instead of raising the transfer rate), arguing that higher statutory transfers would “hinder growth and put pressure on cash flow.” Committee leadership said they would assign a committee lead (Senator Scheible) to follow up on the mill’s budget and that the mill might be asked back for additional hearings or virtual follow up.

The mill presentation included production, staffing and capital plans but did not result in any formal committee vote during the hearing. Lawmakers signaled further review would continue in follow‑up budget work sessions.

Ending: The committee accepted the mill’s presentation for further review, assigned lead follow‑up responsibility and indicated more detailed budget work and negotiation would continue in subsequent meetings.","The North Dakota Mill and Elevator told the Appropriations - Education and Environment Division it seeks additional operating and capital funding to support added milling capacity, while asking lawmakers not to raise the portion of profits transferred to the General Fund above the current policy of returning 50% of remaining profits.","actionData","errors"]

Article not found

North Dakota Housing Finance Agency requests $40M for Housing Incentive Fund, transfer of homeless grant and five staff additions

Bank of North Dakota lays out mission, new capital policy and recommends $212M dividend for 2025–27

North Dakota Mill and Elevator requests budget boosts to expand capacity, urges keeping General Fund transfer at 50%