community members look on during a low-income housing grand opening in Fargo ND

Building Hope With Affordable Housing in Fargo-Moorhead

Finding home sweet home isn’t always easy for low-income families, including those who live in North Dakota and Minnesota. That’s why Gate City Bank has partnered up with the Cass Clay Community Land Trust (CCCLT) to establish more affordable housing in Fargo-Moorhead and the surrounding area.

The Fargo-Moorhead area has experienced rapid population growth, which has led to increased housing demand and an affordable housing shortage. This has resulted in community leaders recognizing a need for the CCCLT.

Launched by the FM Area Foundation in 2020, the trust leverages public and private funds through strategic community partnerships that help by ultimately providing sustainable and affordable housing.

“Everyone deserves a place to call home,” says Kevin Hanson, Gate City Bank President & CEO. “This nonprofit partnership has been truly amazing, opening the door to long-term affordable housing solutions for families who need them most, all while creating a better way of life in our communities.”

How the CCCLT Works.

The trust permanently owns the land, some of which was donated by the city, for an average cost of $50,000. The land is leased to the buyers, who are then able to purchase the home at a below-market cost, lowering monthly payments.

Knowing many hardworking people aren’t making enough money to qualify for purchasing a median-priced home, we gladly became a partner in the initiative, pledging a total of $50,000 over five years. We see this as an opportunity to create a better way of life by providing a viable, sustainable and long-term housing solution.

Jalyssa Sorenson, Vice President of Mortgage Operations, serves on the trust’s board of directors. She’s beyond excited to help program participants achieve the homeownership they’ve worked so hard for.

“I have seen so many people struggle to navigate the complexities of achieving homeownership in today’s housing market,” Sorenson says. “This is such a great way to help keep homes affordable.”

An Ambitious Goal for the Future.

Organizers behind the CCCLT ensure each twin home features three bedrooms, two and a half bathrooms and a slab-on-grade. To qualify, eligible homeowners must be at least 18 years old, U.S. citizens and be at or below the 80% area median income (AMI) for their household. They can start by filling out the CCCLT application.

“Gate City Bank has been so wonderful to work with. Words can’t express how thankful we are for the expertise and support they’ve provided, which have been crucial to bringing this initiative to life.”
Trenton Gerads professional headshot
Trenton Gerads
CCCLT Executive Director

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HOPE, Inc.

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