Dacotah Bank Supports Housing in Killdeer, ND
Jeff Moore, market president of Dacotah Bank in Dickinson, played a leading role in an affordable housing development that was featured in recent issue Prairie Business magazine.
Dacotah Bank has supported Killdeer Mountain Manufacturing (KMM), which built new housing in Killdeer, North Dakota. Don Hedger, co-founder of KMM, said Dacotah Bank understands what his business needs.
Prairie Business magazine wrote, “Housing …became an issue a couple of years ago as KMM sought to fill open positions in Killdeer, but no housing was available for new employees. KMM opted to build its own 24-unit apartment building and made it an affordable housing project. (This designation) allowed the company to utilize several state programs, including the popular Housing Incentive Fund, which is administered by the North Dakota Housing Finance Agency. A $1 million HIF allocation for the $3.3 million project helped make it a feasible option for the company. Additional partners of the project included Bank of North Dakota, the city of Killdeer, Roers Development, Stark Development Corp, and Dacotah Bank.”
“We’re glad we did it and with the help from the state we can make it work,” Hedger said. “When you need employees – and we’ve had a certain drain on our employees due to the energy boom – you have to do something. That was one of the key things we did.”
“The apartment building opened last July. Hedger estimates that about seven of the building’s 24-untis are occupied by KMM employees. A KMM sister company owns and operates the property,” the magazine wrote.
Hedger said, “Dacotah Bank has provided a lot of help over the years because a growing company always needs cash, operating capital.”