The Nebraska Department of Economic Development (DED) has selected two multi-family housing projects to receive a total of $4 million, or $2 million each, in gap funding. DED awarded the funds through the Community Development Block Grant for Disaster Recovery (CDBG-DR) Affordable Housing Construction – Low-Income Housing Tax Credit Program (AHCP-LIHTC) for the 2025 Funding Year.
The funding also leverages 2025 Low-Income Housing Tax Credits (LIHTC) through the Nebraska Investment Finance Authority (NIFA), awarded at the 9% level. The 2025 9% Qualified Action Plan is expected to be the final opportunity funds from this CDBG-DR allocation will be made available on the joint application with NIFA.
This investment will support the development of 162 housing units, with 127 units benefiting households of low-to-moderate income (LMI) at or below 60% Area Median Income (AMI). With these awards, DED has committed an investment of $49.45 million in CDBG-DR funding to support construction of affordable housing, aiding the state’s long-term recovery and disaster resiliency following the 2019 flood disaster declaration.
DED established the AHCP-LIHTC to support unmet housing needs related to the 2019 flood event (DR-4420). The program makes federal funding available, giving priority to the area of Nebraska defined as “most impacted and distressed” by the United States Department of Housing and Urban Development (HUD). This funding prioritizes LMI persons and vulnerable populations and supports unmet needs in public housing.
CDBG-DR LIHTC Program Awards – August 2024
| Awarded Project | Awarded Developer | CDBG-DR Award Amount | No. of Units | Project Location |
| 3030 Upland Pkwy | Brinshore Development, LLC | $2,000,000 | 74 | Omaha (Douglas) |
| The new construction project is an off-site housing phase of the Southside Terrace-Indian Hill HUD Choice Neighborhoods Transformation Plan and will consist of 74 units. The development will consist of one (1) four-story, seventy-four (74) unit building, comprised of one-, two-, three-, four-, and five-bedroom units and three (3) townhomes featuring a three-, four-, and six-bedroom unit. The project will include a community space, leasing office, storm shelter, exercise room, and in-unit washers and dryers. Fifty-seven (57) units will be income restricted at or below 40% to 60% Area Median Income, thirty-six (36) units will use Project Based Vouchers, and seventeen (17) units will be unrestricted market rate units. Project funding includes approximately: $1,800,000 in CNI funding, $2,000,000 in CDBG-DR, $12,700,000 in 9% LIHTC and Affordable Housing Tax Credits, $150,000 in 45L Tax Credits, $4,800,000 in philanthropy, and a first mortgage of $5,200,000. | ||||
| Awarded Project | Awarded Developer | CDBG-DR Award Amount | No. of Units | Project Location |
| 192 Q | Foundations Development, LLC | $2,000,000 | 88 | Omaha (Douglas) |
| 192 Q is a new construction project reserved for seniors 55+ located in SW Omaha (south of Adams Street and west of 192nd Street). The development will consist of one (1) four-story building comprised of eighty-eight (88), two-bedroom units. Each unit will have a washer and dryer, range, refrigerator, microwave, dishwasher, access to a storm shelter, and an active medical alert/emergency response system. Seventy (70) units will be income restricted at or below 60% Area Median Income, and eighteen (18) units will be unrestricted market rate units. Project funding includes approximately: $2,000,000 in CDBG-DR, $11,722,928 in 9% LIHTC and Affordable Housing Tax Credits, $437,500 deferred developer fees, $931,211 managing member contribution, and $3,500,000 conventional mortgage. | ||||
For more information about the awarded projects or the AHCP-LIHTC Program, contact the Disaster Recovery Team via email at ded.cdbgdr@nebraska.gov or by phone at 800-426-6505.
Español: Para obtener ayuda, comuníquese con el Equipo de Recuperación de Desastres por correo electrónico a ded.cdbgdr@nebraska.gov o por teléfono al 800-426-6505.
Individuals who are hearing and/or speech impaired and have a TTY may contact the Department through the Statewide Relay System by calling (711) INSTATE, (800) 833-7352 (TTY), or (800) 833-0920 (voice). The relay operator should be asked to call DED at (800) 426-6505 or (402) 471-3111. Additional information is available on the Nebraska Relay website at http://www.nebraskarelay.com Nebraska Relay offers Spanish relay service for our Spanish-speaking customers. Spanish-to-Spanish (711) or 1-888-272-5528; Spanish-to-English (711) or 1-877-564-3503. Nebraska le ofrece el servicio de relevo a nuestros clientes en español. Los consumidores de TTY pueden escribir por máquina en español y las conversaciones serán retransmitidas en español y inglés.