FARGO, N.D. – Gate City Bank gives $2 million to the City of Fargo to partner on the Neighborhood Revitalization Initiative.
“We are extremely grateful for our partnership with Gate City Bank that has assisted hundreds of Fargo homeowners in renovating and repairing their properties. Through this public-private collaboration, we are investing in Fargo’s mature neighborhoods, strengthening our community and helping to shape a promising future for our residents,” Mayor Dr. Tim Mahoney said.
Loans are available to fund improvement projects not yet under construction and can be used for structural corrections, energy upgrades and general property improvements. Homes must be at least 40 years old and occupied by the homeowner. The homes must be less than $300,000 in value and be within the Neighborhood Revitalization Initiative boundary. Loans can range from $10,000 to $100,000 and have repayment options of 10 or 15 years with an APR as low as 4.66 percent according to Gate City Bank.
Gate City Bank originally made the Neighborhood Revitalization Initiative available to Fargoans in 2003 and has contributed $127 million.
“At Gate City Bank, we’re beyond thankful for the communities we call home, and we’re proud to invest in them so they remain beautiful for years to come. We’re excited to continue growing this local partnership with The City of Fargo, which is greatly benefiting homeowners and neighborhoods,” Gate City Bank SVP of Personal Lending Operations Jeana Marshall said.
Applications will be accepted from March 17 to October 31. Click here for more information.
