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The City of Fargo and Gate City Bank Announce $2 Million Investment in Neighborhood Revitalization Initiative

Low-interest loans for qualifying home improvements are available now through October 31


Gate City Bank has once again partnered with The City of Fargo on the Neighborhood Revitalization Initiative (NRI), contributing $2 million to help keep the community’s mature neighborhoods strong. The program provides homeowners with low-interest loans to address qualifying property repairs and improvement projects.

Mayor Dr. Tim Mahoney remarked, “We are especially grateful for Gate City Bank for this incredible partnership, which over the last 18 years has helped hundreds of Fargo homeowners improve their properties. We believe strong neighborhoods are essential to building a strong community. Fargo’s core neighborhoods are a vital part of the city’s past, present and future. As Fargo’s original neighborhoods, they house many of its most important assets and offer a wide range of residential and economic opportunities to a growing and increasingly diverse region. Together, we are working diligently to continue to build strong neighborhoods, which are the mainstay of a healthy and growing community.”

Gate City Bank originally made the NRI available to Fargo residents in 2003. Since then, qualifying homeowners have used the low-interest loans to make updates that range from patio additions and new garages to furnace replacements and accessibility improvements.

“At Gate City Bank, we take so much pride in the communities we serve and the places we call home,” said Brandie Haugen, Assistant Vice President, Retail Manager. “This local partnership is truly creating a better way of life for local homeowners and neighborhoods.”

Loans are available to finance new improvements not yet under construction and may be used for items such as structural corrections, energy upgrades and general property improvements. Other important details of the initiative include:

• Homes must be 40 years or older
• Residences must be occupied by their owners
• The assessed value of homes must be less than $275,000
• Participating homes must be located within the NRI boundary

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

The deadline to apply is October 31, 2023. For more information, visit

Terms and conditions may apply. Loans can range from $10,000 to $100,000 and have repayment options of 10 or 15 years with an annual percentage rate (APR) as low as 3.17%*. Gate City Bank is an Equal Housing Lender. Member FDIC.

*A $50,000 home equity loan at a 3.00% interest rate for 120 monthly payments of $486.78 will have a 3.17% annual percentage rate.