In 1999, the North Dakota Legislative Assembly approved the Renaissance Zone Act to provide tax incentives to encourage community redevelopment and economic investment in both residential and commercial properties.

 

The Hope Renaissance Zone encompasses 24.5 blocks of residential and commercial property.  The Renaissance Zone Development Plan compliments many of the goals outlined in the City of Hope's Strategic Plan (2010).  These goals target the areas of business retention and expansion, housing development and tourism.  The plan targets areas in the city that would compliment this type of development. 

 

Residential Application 

Buy, Build, or Renovate.  Property Tax Exemptions available as well as Income Tax Credit from the State of ND.

                               Commercial Application 

Purchase, Construct, or Renovate.  50-100% Property Tax Exemptions depending of type of project.  State Income Tax Credit as well. 

 

 

 

 

For more information contact Suzanne Halverson, Steele County Economic Development Coordinator at 701-524-2645.