FACT SHEET

The Eastern Dakota Housing Alliance was formed in 1996 as a loose affiliation of non-profit organizations interested in increasing the availability of affordable housing in their communities.  In 1997 the group hired a staff person to pursue their mission of “Fostering the development and preservation of affordable housing in Eastern North Dakota”.  In 1998, the organization incorporated as a non-profit corporation in the state of North Dakota.  By the end of that year EDHA was recognized by the IRS as a 501(c)(3) organization and by the State of North Dakota as a Community Housing Development Organization (CHDO) and became involved in its first affordable housing development.  The board of directors is made up of one representative of each of the founding organizations and up to four at large members.  At least on third of the board members either are low income individuals or represent low income people through their work with organizations that serve the low income.  Officers of the organization include a President, Vice President, and a Secretary Treasurer.

HOME funds are typically invested into developments in the form of low interest loans.  Repayment of these loans has enabled the EDHA to create a new Affordable Housing Fund, and earning the EDHA certification by the Department of Treasury as a Community Development Financial Institution (CDFI).  The loan fund will allow the EDHA to react to local needs with an entirely new source of financing.  Funding decisions are made here in our region rather than at a state or national level.  The focus of the fund is to provide flexible short term financing for the development of affordable housing particularly in rural underserved area.