Ellendale and the state of North Dakota have numerous economic development programs.
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Ellendale area community foundation
This Endowment Fund is a non-profit, tax-exempt fund which receives and distributes monies in support of a variety of worthwhile programs and projects in our area. The fund was formed by local people who believe it provides the opportunity to give something back, which has served us well. The mission is to provide a permanent and significant fund to enrich the quality of life in and around our community.
The Foundation Board reviews applications annually and earnings from the donations are dispersed each year for the betterment of our area. The principal will not be depleted, so funds will be available year after year. The earnings are used to support projects such as parks, schools and health facilities, along with recreational, educational and cultural activities.
Giving options include: outright gifts, Bequests, Life Insurance, Memorials
The 24 1/2 block area of the Renaissance Zone is comprised of properties targeted for restoration. Rehabilitation or new construction within the zone entitles the owner/business renter to claim city property tax and state income tax incentives for five years on a qualifying project. Please note that your project must be approved by the city and state before you may claim tax incentives.
For more information, contact Renaissance Zone Manager Don Frye, 701-541-3516 or email him here.
Incentives for Homeowners
- Individual state income tax credit of up to $10,000 per year for five uninterrupted years for an approved purchase or rehabilitation project
- City property tax exemption for five taxable years on an approved renovation or new construction project
Incentives for Businesses
- 10% federal income tax credit for non-residential property placed in service before 1936 OR
- 20% federal income tax credit for non-residential property certified through the State Historic Preservation Officer
- State income tax exemption for five consecutive years for money spent on renovation or construction of an ap-proved project to be used for business or investment
- City property tax exemption for five taxable years for money spent on renovation or construction of an approved project to be used for business or investment