Region V Community Development Corporation

PLANNING, DEVELOPING, OWNING, AND MANAGING AFFORDABLE HOUSING PROJECTS IN SOUTHEASTERN ND.

THE REGION V COMMUNITY DEVELOPMENT CORPORATION (RVCDC "THE CORPORATION") HAS A PRINCIPAL PURPOSE OF PLANNING, DEVELOPING, OWNING, AND MANAGING AFFORDABLE HOUSING PROJECTS IN SOUTHEASTERN NORTH DAKOTA. THE CORPORATION DEVELOPS AND MANAGES HOUSING FOR LOW INCOME, AGED AND/OR HANDICAPPED INDIVIDUALS AND THEIR FAMILIES ACROSS THE STATE OF NORTH DAKOTA.THE RVCDC HAS THE CAPACITY AND EXPERIENCE TO DEVELOP AFFORDABLE HOUSING PROJECTS. AS A DEVELOPER, THE RVCDC PERFORMS MARKET ANALYSIS, ENVIRONMENTAL REVIEWS, SITE SELECTION, FEASIBILITY ANALYSIS, FINANCIAL CONTINUED ON SCHEDULE O...STATEMENTS, PROJECT DESIGN, REHABILITATION, NEW CONSTRUCTION, MARKETING, AND OTHER FUNCTIONS. PROJECTS DEVELOPED BY THE CORPORATION INCLUDE THE REHABILITATION OF EXISTING BUILDINGS, NEW CONSTRUCTION, AND SINGLE FAMILY DEVELOPMENTS. RVCDC HAS DEVELOPED OVER 100 UNITS OF AFFORDABLE HOUSING IN THE COMMUNITIES OF LISBON, GWINNER, HANKINSON, HATTON, MILNOR, NORTHWOOD, CASSELTON, WEST FARGO, AND FARGO. THE TYPE OF PROJECTS DEVELOPED INCLUDE: MULTIFAMILY RENTAL HOUSING, SINGLE FAMILY HOMEOWNERSHIP, AND SPECIAL NEED HOUSING. AFTER HOUSING PROJECTS ARE DEVELOPED, THE RVCDC BECOMES INVOLVED WITH THE OPERATIONAL PHASE THAT INCLUDES SALES AND MARKETING, LEASING, AND PROPERTY MANAGEMENT. AS A PROPERTY MANAGER, THE RVCDC'S GOAL IS TO PROVIDE ALL SERVICES NECESSARY AND CUSTOMARY TO ENSURE THE PROPER MANAGEMENT, MAINTENANCE, AND OPERATION OF THE HOUSING PROJECT. AS A HOUSING DEVELOPER AND MANAGER, RVCDC IS RESPONSIBLE FOR MAKING DECISIONS TO ENHANCE THE PERFORMANCE OF A PROJECT, EXTEND THE ECONOMIC LIFE OF THE BUILDINGS, AND MAXIMIZE RETURN ON ASSET.THE CORPORATION ALSO OWNS AND OPERATES THE FOLLOWING:- SUNSET VILLAGE - A TWO-BUILDING COMPLEX CONSISTING OF TWELVE TOWNHOME APARTMENT UNITS IN LISBON, NORTH DAKOTA.- VALLEY VIEW FIRST ADDITION - AN INVESTMENT CONSISTING OF RESIDENTIAL LOTS IN LISBON, NORTH DAKOTA, WHICH ARE BEING HELD FOR SALE.- EARLY HEAD START BUILDING - A BUILDING OWNED BY THE CORPORATION THAT IS LEASED BY SENDCAA FOR USE AS A CHILD DEVELOPMENT CENTER.- HEAD START SOUTH BUILDING - A BUILDING OWNED BY THE CORPORATION THAT IS LEASED BY SENDCAA FOR USE AS A CHILD DEVELOPMENT CENTER.- FIELDSTONE MANOR - AN 8 UNIT RESIDENTIAL RENTAL PROPERTY IN FAIRMOUNT, NORTH DAKOTA.- PRAIRIE POINTE- A 17 UNIT RESIDENTIAL RENTAL PROPERTY IN GWINNER, NORTH DAKOTA.- GRACE VILLAGE - A TWO-BUILDING COMPLEX CONSISTING OF TWELVE TOWNHOME APARTMENT UNITS IN HANKINSON, NORTH DAKOTA. - HERITAGE VILLAGE LIMITED PARTNERSHIP - A 6 UNIT RESIDENTIAL HOUSING PROJECT IN MILNOR, NORTH DAKOTA. - HOMESTEAD COMMONS LIMITED PARTNERSHIP - A 6 UNIT HOUSING PROJECT IN GWINNER, NORTH DAKOTA. - HEARTHSTONE VILLAGE LIMITED PARTNERSHIP - A 8 UNIT HOUSING PROJECT IN HATTON, NORTH DAKOTA. - DAKOTAH PIONEER LIMITED PARTNERSHIP A 31-UNIT RESIDENTIAL HOUSING PROJECT, IN FARGO, NORTH DAKOTA THAT INCLUDES APPROXIMATELY 9,450 SQUARE FEET OF COMMERCIAL SPACE.