FUNDRAISING CAMPAIGN LAUNCHED TO STABILIZE PROJECT
With Lutheran Social Services no longer able to support the Landing project, ABLE, Inc. stepped up to purchase and manage the building. Mary Anderson, Executive Director, states, “We are excited about overseeing this building that we helped plan, finance and develop from the ground up. We are especially excited to stabilize housing for the people we serve who live at The Landing. This building is so important to our ability to remain in Bowman.”
In order to acquire, maintain and improve the property, ABLE, Inc. announced a $500,000 fundraising campaign in May 2021. Two donors kicked off the fundraising campaign with a donation totaling $120,000. During the campaign ABLE, Inc. will be sending postcards and letters to residents and businesses in the surrounding area, presenting to community groups and applying for several grants. These mailings are intended to provide more information about the project and instructions for donations. ABLE, Inc. will also be at Rock The Block July 29 where products will be showcased at Repeat Outlet and staff will be available to answer questions about the acquisition.
Mary states, “You may ask why ABLE, Inc. believes it is necessary to raise funds to help with the purchase of this building? Lutheran Social Services of North Dakota could not cash flow their properties across the state. We expect some of the same financial challenges. By raising funds we can improve our financial status and stabilize cash flow at the property we are renaming Bowman Landing. We are in this for the long haul. Getting a great start is essential for our success.”
With the purchase we are assuming complicated state and federal loans and programs, as well as a local bond and we are paying off a gap loan. These state and federal programs demand that a portion of the units are rented to low income persons which restricted rental rates that can be charged.
To make a tax deductible donation through our secure website, click the link below. If you have questions, we invite you to contact Mary Anderson at 701-456-3000. Your thoughts of support and financial consideration are appreciated as we continue to invest in the Bowman community.