$226,342 awarded for Northeast Nebraska Purchase/Rehab/Resell Program

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$226,342 awarded for Northeast Nebraska Purchase/Rehab/Resell Program

The Nebraska Department of Economic Development has awarded $226,342 in HOME funding to NeighborWorks Northeast Nebraska (NWNEN) a nonprofit 501 (c)(3) Community Housing Development Organization in Norfolk, Neb., to offer a Purchase/Rehab/Resell Program.

The Nebraska Department of Economic Development has awarded $226,342 in HOME funding to NeighborWorks Northeast Nebraska (NWNEN) a nonprofit 501 (c)(3) Community Housing Development Organization in Norfolk, Neb., to offer a Purchase/Rehab/Resell Program.

NWNEN will use the funding to purchase, rehabilitate and resell six single-family homes in its coverage area, which encompasses Colfax, Cuming, Madison, Pierce, Platte, Stanton and Wayne counties.

The program involves the acquisition, rehabilitation (including mediating any lead-based paint issues), and resale of homes to qualifying homebuyers earning at or below 80 percent of the Area Median Family Income in their respective counties. Homebuyers, are required to invest $1,000 of their own funds in the project, and also may receive down payment closing cost assistance.

Additional funding of $30,000 from NWEN and America Capital Funds will complete the project.

For information, contact Leslie Coleman at 402-379-3311 or lesliec@nwnen.org

CONTACT: Kate Ellingson at 800-426-6505, 402-471-3749, or kate.ellingson@nebraska.gov