Neighborhood Revitalization Initiative
The Neighborhood Revitalization Initiative (NRI) offers assistance to foster the continued vibrancy of Mandan's core neighborhoods and empower homeowners to reinvest in their properties. This program creates a pathway for homeowners to access low-interest home equity loans that specifically target the enhancement and improvement of Mandan's existing housing inventory.
Mandan Program Overview
The NRI program aims to breathe new life into Mandan's core neighborhoods and enhance the existing housing stock in Mandan. The City's role in the program is to receive and evaluate applications to ensure they meet the City's program criteria. Gate City Bank's role in the program reviews loan requests and approves eligible borrowers.
$2 Million in loans is available to eligible Mandan home owners starting at a 4.99% interest rate with 10 to 15 year terms. The minimum loan amount is $10,000 and maximum is $100,000.
Applications for the 2024 program are due October 31, 2024.
Program Criteria
The home or property must meet all of the following criteria:
- Located in city limits
- Zoned for residential use
- Outside of 100-year floodplain
- Owner-occupied 1 or 2 unit, single-family home
- Current on property taxes and special assessments
- The current assessed value is under $275,000
- Home at least 40 years old
Staff from various City departments are involved in this program to assist in the review of applications and ensure eligibility. Gate City Bank is responsible for reviewing credit standards for issuance and repayment of loans.
Eligible Improvements Types
- Foundation work (drain tile, bracing)
- Major exterior improvements (siding, roofing, windows & garages*)
*Garages must follow zoning regulations. Any garage requiring a variance would not be eligible for this program. - Addition of bedroom or new living space
- Major interior remodeling (kitchen, bathroom, etc.) or replacement of major mechanical systems (furnace, electrical system)
- Landscaping, Porch or Decking Addition or Updates
- Retaining Wall Addition & Updates
- Convert rental unit to owner-occupied
- Water & Sewer Upgrades
- Radon Mitigation
Application Period
The loan applicant must be the owner/occupant of the home and meet Gate City Bank's credit standard for repayment of the improvement loan.
Completed applications must be submitted by Oct. 31, 2024 to:
City of Mandan Planning Department
Attn: Neighborhood Revitalization
205 2nd Ave NW
Mandan, ND 58554
or via email