Gate City Bank is working with The City of Fargo to keep Fargo’s mature neighborhoods strong and help local homeowners reinvest in their homes by providing the Neighborhood Revitalization Initiative (NRI) Program.

Mayor Dr. Tim Mahoney remarked, “This is one of the many excellent programs offered by the City of Fargo. Specifically designed to assist homeowners in improving their properties, it has been utilized by hundreds of homeowners since its inception in 2003. Fargo works tirelessly to build strong neighborhoods, which are the backbone of a healthy and growing community. We are especially grateful for Gate City Bank for this tremendous partnership.”

The NRI Program was originally made available by Gate City Bank to Fargo residents in 2003; since then, homeowners have taken advantage of the low-interest loans to make home improvements. Improvements ranged from safety repairs such as furnace replacements and accessibility improvements, to patio additions and new garages.

“Creating a better way of life for our customers and communities is what Gate City Bank is all about,” said Jeana Marshall, Vice President of Personal Lending Operations at Gate City Bank. “We are grateful for our continued partnership with The City of Fargo in providing these low-interest loans, which will help our friends and neighbors make wonderful improvements to their neighborhoods.”

Eligible Improvement Costs

Neighborhood Revitalization Initiative funds may be used to address code and structural corrections, energy improvements and general property improvements. Loans are available to finance new improvements not yet under construction.

The projects must include at least one of the following:

  • Foundation work (drain tile, bracing, new foundation)
  • Major exterior improvements (siding, roofing, windows)
  • Addition of bedroom or new living space
  • Major interior remodeling (i.e., kitchen remodel, bathroom remodel)
  • Replacement of major mechanical systems (furnace, electrical system, plumbing)
  • Conversion of rental unit to owner-occupied home

The following are important details of the program:

·         Repayment options of 10 or 15 years with an APR as low as 2.361%*

·         Available to homeowners of an owner-occupied residence that is 40 years or older

·         Assessed value of the home must be less than $250,000

·         Homes must be located within the NRI Program boundary

·         Maximum loan amount is $75,000

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

The deadline to apply is October 31, 2020. For more information, visit

*Terms and conditions may apply. Loans can range from $10,000 to $75,000 and have repayment options of 10 or 15 years with an Annual Percentage Rate (APR) as low as 2.361%. Gate City Bank is an Equal Housing Lender. Member FDIC.