Department of Economic Development Announces Final Awards under 2019 HOME, HTF Program Cycles

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Department of Economic Development Announces Final Awards under 2019 HOME, HTF Program Cycles

The Nebraska Department of Economic Development (DED) rounded out the 2019 Program Year of the HOME Investment Partnerships (HOME) and National Housing Trust Fund (HTF) programs this week with the announcement of awards to support affordable and low-income housing development throughout the state.

Being announced under the Nebraska Investment Finance Authority (NIFA) and DED joint application cycle of the HOME program this week are $1.3 million in grants to support the rehabilitation and new construction of rental units in Grand Island and Bellevue. Receiving the awards were Midwest Housing Initiatives, Inc., which will receive $500,000 to help acquire and rehabilitate nine four-plex buildings for a total of 36 two-bedroom rentals in Grand Island, and Housing Foundation of Sarpy County, which was awarded $800,000 to support the new construction of 48 two- and three-bedroom rental units in Bellevue.

These HOME awards complement a $1.9 million HOME award selection occurring last February that saw $900,000 awarded to Fremont Housing Agency to support the new construction of 20 three-bedroom rental units in Fremont; $500,000 to Midwest Housing Initiatives, Inc. for the new construction of 14 duplex buildings and 28 total two-bedroom rental units in Grand Island; and $500,000 to Cozad Housing Authority for the new construction of 15 three-bedroom rentals in Cozad.

All are in addition to two rounds of HOME Community Housing Development Organization (CHDO) awards made by the Department last month and in December 2019. The former involved a $226,000 award to High Plains Community Development Corporation, Inc. for the construction of a new housing unit and direct homebuyer assistance in Chadron. The latter included a $266,000 award to NeighborWorks Northeast Nebraska to support the purchase-rehab-resale of four housing units in northeast Nebraska, and a $257,000 investment to NeighborWorks Lincoln for the new construction of two new housing units in Lincoln.

Also being announced this week are a series of awards under the National Housing Trust Fund, a program dedicated to serving individuals and families at or below 30% of the area median income. Under the NIFA/DED joint application Collaborative Resources Allocation for Nebraska (CRANE) application cycle, DED has awarded Holy Name Housing Corporation $750,000 to support the new construction of 23 rental units in Omaha. Under the NIFA/DED joint application cycle for Low-Income Housing Tax Credits, three HTF awards have been announced: Midwest Housing Development Fund, Inc. was awarded $800,000 to support the new construction of 18 three-bedroom rental units in Fremont; Greater Fremont Development Foundation was awarded $719,200 for 25 new construction, four-bedroom rentals, also in Fremont; and Nebraska Housing Developers Association was awarded $900,000 to support the new construction of 80 two-bedroom rental units in Omaha.

“We commend and appreciate 2019’s HOME and HTF recipients for their ongoing work to create quality and affordable housing opportunities throughout our communities,” said DED Director Anthony L. Goins. “Their ceaseless efforts are an essential component of our shared vision to grow Nebraska.”

For more information about the HOME or HTF programs, or to learn about the 2020 program cycles, visit www.opportunity.nebraska.gov.