Senate Passes Bill to Expand Affordable Housing Program | Video

Jessica Roose | 3/8/2013

The State Senate passed a bill this afternoon to expand a program with the Bank of North Dakota for affordable housing. The Flex PACE program provides a buy down to reduce the borrower`s interest rate.

In the previous session, a bill amended the program to include affordable housing. The bill that was passed today would expand it by taking out the requirement that limited it to oil-impacted counties.

"Mr. President, every corner of our state is experiencing a shortage of affordable housing. The Flex PACE program is working, it`s solving the problem and your IB and L committee think it`s a good idea by a vote of 7 to 0 to expand the program and asks for your `yes` vote," said Senator Lonnie Laffen (R) from Grand Forks.

The bill now goes to the Governor for consideration.

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