Below is a list of news items for the City of Moorhead with the most recent items at the top.  If you would like to see news for a certain category, you can select it from the the drop-down box labeled (All Categories).  Any news older than 90 days is automatically archived and removed from this list.

You can also subscribe to our eNotifications to automatically receive emails as we post news to the site.

City of Moorhead and Gate City Bank announce $2 million investment in loan program

Low interest Neighborhood Impact Program loan funds available now through October 31, 2020 to make major home improvements!

Post Date:04/29/2020 7:29 am

Gate City Bank logo 

City of Moorhead Logo

Gate City Bank is working together with the City of Moorhead to keep Moorhead's mature neighborhoods strong and to help local homeowners reinvest in their homes by providing the Neighborhood Impact Program. The low-interest loans are conducted with the benefit of inspection services from the City of Moorhead to assist homeowners to identify needed repairs and conduct major improvement projects on older homes.

Mayor Johnathan Judd stated, “The Neighborhood Impact Program is great for Moorhead residents and our whole community. Home improvements keep our housing stock in good condition and our neighborhoods strong. The City of Moorhead thanks Gate City for the partnership and this significant investment. I am excited to see people have this great opportunity to improve their homes.”

“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’re grateful for our continued partnership with the City of Moorhead in providing these low-interest loans, which will help our friends and neighbors make wonderful improvements to their neighborhoods.”

The Neighborhood Impact Program was originally made available by Gate City Bank to Moorhead residents in 2005; since then, more than 140 homeowners have taken advantage of the low interest loans to make home improvements. Improvements range from safety repairs like furnace replacements and accessibility improvements, to patio additions and new garages.

More about the Moorhead Neighborhood Impact Program Loan terms

• Rates as low as 2.25% APR*
• Repayable over 10 or 15 year term
• Minimum loan value $10,000; maximum loan $75,000
• Maximum loan-to-value 90% (GCB valuation guidelines)

Eligible Improvement Costs
Neighborhood Impact Program 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, and if there are code corrections identified during the inspection, they must be addressed as part of the project.

The project 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 living space
• Major interior remodeling or replacement of major mechanical systems (furnace, electrical system)
• Conversion of rental unit to owner-occupied home

How do I qualify?

• Applicants: Loan applicants must be the owner-occupant of the home and meet Gate City's credit standards for repayment of the improvement loan.

• Home/Property:
o Built before 2000
o Located within the City of Moorhead municipal boundaries
o Zoned for residential use
o Outside of the 100-year flood plain
o Assessed value under $250,000
o Owner-occupied one or two-unit residences (if there is a second unit, it must be a registered rental unit)
o Current on property taxes and special assessments

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

About Gate City Bank:
A $2.4 billion mutual community bank, Gate City Bank has 43 locations across 22 communities in North Dakota and central Minnesota. Employing 770 team members, Gate City Bank is committed to making lives better by investing in its team members and the communities it serves. In addition to being North Dakota’s number one mortgage lender, Gate City Bank has also been named one of the “50 Best Places to Work” since 2014 by Prairie Business magazine and named “Best Bank in North Dakota” by Forbes magazine in 2019. Additional information is available at

For additional information, please contact the City of Moorhead at, telephone 218.299.5434.

*Terms and conditions may apply. A $25,000 home equity loan at 2.25% interest rate for 120 monthly payments of $232.88 will have a 2.26% APR.

More >>