Neighborhood Revitalization Program

Gate City Bank and the City of West Fargo are working together to keep West Fargo’s neighborhoods strong and to help local homeowners reinvest in their homes by providing the Neighborhood Revitalization Program: low interest loans and technical assistance to homeowners for major home improvement projects for existing homes.

Guidelines:

  • 10-year loan 2.25% interest rate
  • 15-year loan 3% interest rate
  • Initial rate is 0.01% until homeowner’s first payment, which must be made within 6 months after the loan is received. 
  • There is no application fee.
  • All hard costs, along with the costs of appraisals, are passed on to the homeowner.
  • Minimum loan amount is $10,000
  • Maximum loan amount is $75,000
  • Homes must have an assessed value lower than $250,000 and must be located outside of the 100-year flood plain.
  • Maximum loan-to-value is 90%.

Eligible Improvement Costs

The West Fargo Neighborhood Revitalization Program funds may be used to address code and structural corrections, energy improvements and general property improvements. Loans are available to finance new improvements not yet under construction, and if there are code corrections identified during the inspection, they must be addressed as part of the project.

The project must include at least one of the following:

  • Foundation work (drain tile, bracing, new foundation)
  • Major exterior improvements (siding, roofing, windows)
  • Addition of bedroom or new living space
  • Major interior remodeling or replacement of major mechanical systems (furnace, electrical system)
  • Conversion of rental unit to owner-occupied home
Application

How do I qualify?

Applicants:

  • Loan applicant must be the owner/occupant of the home and meet Gate City Bank’s credit standards for repayment of the improvement loan
  • Please submit your completed application to the following address:

Planning and Community Development Department

Attn: Home Improvement Loan

800 Fourth Ave. E., Suite 1

West Fargo, ND 58078

Once City staff has reviewed your application, you will be contacted with additional information about the next steps in the process. For more information, please call 701-433-5324.

Home/Property:

  • Located within the City of West Fargo municipal boundaries and north of Interstate 94
  • Assessed value under $250,000
  • Owner-occupied unit residences
  • Current on property taxes and special assessments
  • Home is zoned properly

Applications are reviewed on a first come, first served basis, as funds are available 

Questions? 

For additional information, please contact Gate City Bank at 701-293-2426 or the City of West Fargo Planning & Community Development Department at 701-433-5324.

Program Administration Responsibilities

City of West Fargo

  • Upon homeowner completion of pre-application, inspect property for property eligibility
    • Inspection and building permit fees are waived
  • Conduct construction inspections (initial and final)
  • Provide technical assistance to homeowner and Gate City Bank as needed
  • Approve payment requests from homeowner and submit to Gate City Bank

Gate City Bank

  • Upon City of West Fargo property inspection and application, accept loan application and determine borrower eligibility
  • Order applicable items (appraisal/evaluation, title work, etc.)
  • Conduct loan closing
  • Process disbursements upon receipt of approved payment requests from the City of West Fargo

Project/Loan Workflow 

Homeowner

  • Complete loan application with the City of West Fargo
  • Submit scope of work to the City of West Fargo for approval
  • Obtain bid(s) from licensed contractors for work required under building code regulations or itemized list of materials with cost estimates if work is to be completed by homeowner
  • Provide the City of West Fargo copies of contractor licenses (if applicable) and liability insurance policy
  • Complete the improvement project as agreed upon within six (6) months of project start date unless an extension is granted by Gate City Bank
  • Sign payment requests

Contractor

  • Provide homeowner and the City of West Fargo a copy of ND Contractor’s License and liability insurance policy
  • Complete the improvement project within six (6) months of the project start date
  • Obtain approval from homeowner and the City of West Fargo for payment requests
  • Provide lien waivers to homeowner upon completion of work

Application