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The U.S. Department of the Treasury has named Midwest Minnesota Community Development Corporation (MMCDC) a New Markets Tax Credit allocatee in its most recent round.

We look forward to using this new $75 million allocation to drive more investment into communities that lack access to capital, including rural and Native Areas in Minnesota, North Dakota, South Dakota and Wyoming.” — MMCDC President Julia Nelmark

The New Markets Tax Credit recently was made a permanent part of the U.S. tax code.

“Under President Trump’s leadership, the One Big Beautiful Bill made the NMTC program permanent,” Treasury Secretary Scott K.H. Bessent said in a press release. “Investors, businesses, and communities now have the long-term certainty they need to plan ahead…” 

In its publications, Treasury notes the program leverages tax incentives with additional private financing to make flexible loans and investments available at attractive rates and terms in communities in need of revitalization. The program has garnered strong bipartisan support.

MMCDC is a prior recipient of the program, with significant experience directing New Markets Tax Credit investments to a wide range of manufacturing, health care and community facilities. It was an early adopter of the Small Loan Fund model, which helps extend the program’s benefits to projects – including small, rural businesses and communities — for which the financing might otherwise be unaffordable and inaccessible.

Midwest Minnesota Community Development Corporation is a private nonprofit company providing commercial and home mortgage lending, as well as housing, business and community development services throughout Minnesota, the Upper Midwest, and beyond. It also is the parent company of a reservation-focused community development company. MMCDC is based in Detroit Lakes, Minn.

MMCDC President Julia Nelmark

 

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U.S. Rep. Michelle Fischbach and State Rep. Jim Joy visited MMCDC’s offices July 31 to discuss rural business development, revitalization and affordable housing.

MMCDC’s Julia Nelmark and Tim Swenson shared the company’s experience in utilizing the federal New Markets Tax Credit, the Low-income Housing Tax Credit, NeighborWorks America funding, and other programs to support rural areas in need of reinvestment.

U.S. Rep. Michelle Fischbach and State Rep. Jim Joy, both at right, met with MMCDC’s President Julia Nelmark and Vice President of New Markets Tax Credit Financing Tim Swenson on Thursday, July 31, in Detroit Lakes, Minn.

The visit took place at the Historic Graystone Hotel in Detroit Lakes, Minn., which was redeveloped using the Low-income Housing Tax Credit and other programs. Today it houses several for-profit and nonprofit offices, including MMCDC’s, as well as affordable apartments.

Congresswoman Fischbach (R-Minnesota) represents the state’s Seventh Congressional District and Rep. Joy (R-Hawley) represents House District 4B in the Minnesota Legislature; both districts encompass Detroit Lakes and other rural communities.

 

New board members were welcomed to MMCDC at its June 19, 2025, annual meeting, held at the Holiday Inn in Detroit Lakes, Minn.

Mark Andersen, Scott Moser and Bryan Ramsrud were elected by mailed ballot to replace three board members, who are exiting due to term limits. The three will represent Hubbard County, Red Lake County and Clearwater County, Minn., respectively.

MMCDC President Julia Nelmark, center, with MMCDC Board Members (l to r) Mark Anderson, Bryan Ramsrud, Jeff Haukebo, Les Liljedahl, Gary Thibert and Scott Moser.

The new board-elected officers are Chair Lori Guenther, representing Mahnomen County; Vice Chair Maria Lindstrom, representing Hubbard County; and Secretary-Treasurer Breanna Adams, representing Becker County. 

Board Chair Gary Thibert of Red Lake County, Treasurer Jeff Haukebo of Hubbard County, and Lending Committee Chair Les Liljedahl of Clearwater County exited the board after serving in key leadership roles during their nine years of service. Haukebo was Chair of MMCDC’s Audit Committee, and Thibert previously served as Vice Chair; both also were longtime members of the Executive / Personnel Committee. Liljedahl previously served as Real Estate Committee Chair.

MMCDC President Julia Nelmark recognized the retirement of longtime White Earth Investment Initiative (WEII) Board Secretary Dean Johnson, Mahnomen. WEII is a subsidiary of MMCDC and is headquartered on the White Earth Reservation. The MMCDC Board of Directors approved Gary Frazer of Cass Lake as a member of the White Earth Board of Directors.

Pianist Leah Grace Wright provided entertainment during the event.

New townhomes proposed by Midwest Minnesota Community Development Corporation have won the support of several development partners.

MMCDC President and CEO Julia Nelmark

Minnesota Housing, the Federal Home Loan Bank of Des Moines, the City of Mahnomen, the Northwest Minnesota Foundation, the Minnesota Housing Partnership, and NeighborWorks America have provided early or conditional commitments of various types of support – including tax credits, grants, in-kind services, and property — for the planned development in Mahnomen, Minn.

MMCDC’s fundraising efforts are still underway, but if successful, will lead to construction of 24 two- and three-bedroom units with attached garages. The units will be income-restricted.

 “Low-income housing tax credit developments such as this often require years to bring to fruition,” MMCDC President Julia Nelmark said. “We want to express our gratitude to all those organizations whose support has been essential for us to reach this point. Thank you!”

NeighborWorks America is proud to support MMCDC in bringing much-needed affordable housing to Mahnomen. This project highlights how the power of partnership can create sustainable impact in rural communities. And announcing this progress during NeighborWorks Week is especially meaningful, as they celebrate alongside more than 180 other network members, collectively honoring our shared commitment to creating homes and building America.” — Deletta Dean, Regional Vice President, Midwest Region 

The City of Mahnomen is located within Mahnomen County and, at roughly 1,200 people, is the largest city on the White Earth Reservation in rural Minnesota. It is home to a tribal hotel, casino and event center that offers significant employment opportunities to the region; it also has a local school system, a tribal and community college, medical facilities, and more.

Modern rental housing with a patio, dishwasher, in-unit laundry hook-ups and attached garage is open in Blackduck, Minn.

Blackduck Townhomes is income-restricted, and housing vouchers are accepted. There is a playground area outside. Tenants pay heating and electricity costs, including air conditioning. The landlord pays garbage, water and sewer costs.

Located just east of Blackduck Lake, the City of Blackduck is a quiet community featuring a scenic trail system, municipal golf course, campground, local school system, its own police and fire department, and a medical clinic. it is surrounded by state and national forest lands, but also within commuting distance to jobs in Bemidji and on the Leech Lake and Red Lake Reservations. 

Call 218-847-5641 for information.

A Blackduck Townhomes patio

 

A local furniture store has set up a display inside MMCDC’s model home for sale. The home is located at 722 Lincoln Ave., Wadena, in the 10-lot Whispering Pines development.

There is a living room suite, kitchen table and chairs, and bedroom set, along with mirrors, plants and more. All furniture is available for sale from Smith Furniture, Wadena.

Click here to learn more about the home and see the photos.