The Nebraska Department of Economic Development (DED) has awarded $2,545,000 in Nebraska Affordable Trust Fund money for five affordable housing projects located in Congressional District 1. The money is part of the Nebraska Affordable Housing Program administered by DED.
The awards went to:
• The City of Madison that will use $599,798, in partnership with PM Enterprises L.L.C., and DWB Inc., to renovate ten existing apartments and construct two garden-level apartments as part of the Elmdale Apartment complex located at 315 S. Main St. The NAHTF money will go toward nine income-controlled units made available to low- and middle-income renters earning at or below 80 percent of the Area Median Family Income in the city. Part of the funding also will go toward housing management and general administration expenditures.
The apartments are a mix of several three-bedroom (including the two garden level) units, four two-bedroom units, four one-bedroom units, and one efficiency. Exterior renovations will include a new roof, windows, exterior doors, rear entry, and reconditioning of brick and stucco surfaces as needed. Interior renovations will include removing and replacing all finish surfaces down to stud framing, installation of new plumbing, electrical, heating and cooling systems, flooring, cabinets, doors, trim, building insulation, sheetrock on walls and ceilings, new paint, fixtures and energy star-rated appliances.
The Northeast Nebraska Economic Development District will serve as housing and general grant administrator.
Additional funding of $303,600 from in-kind city funding, PM Enterprises, owner equity, bank financing, and operating rent-up reserve revenue will complete the project.
For information contact Gina Ainsworth, city clerk, at 402-454-3412 or firstname.lastname@example.org
•Nebraska Housing Developers Association (NHDA), a nonprofit 501 (c)(3) in Lincoln, Neb., that will use $310,000 to conduct an Owner-Occupied Rehabilitation program that involves rehabilitating ten homes of qualifying homeowners earning at or below 100 percent of the Area Median Family Income.
NHDA conducts the Making Homes Accessible program statewide that helps make affordable housing accessible to families with members who have disabilities. The Association will rehab and modify ten homes that come within the parameters of this program.
Since 2002, the Association has loaned nearly $1.7 million to eligible households, serving ten households in Congressional District 1; six households in Congressional District 2; and 42 households in Congressional District 3.
For information contact Danielle Hill at 402-435-0315, ext. 1 or Danielle@housingdevelopers.org
• Neighborhoods Inc., dba NeighborWorks Lincoln (NWL), a nonprofit 501 (c)(3) in Lincoln, Neb., that will use $442,252 to establish a Direct Homebuyer Assistance program that provides down payments, closing costs and rehabilitation loans to for 18 Lincoln, Neb., qualifying families earning equal or less than 100 percent of the Area Median Family Income ($67,900 for a family of four). The program will allow NeighborWorks Lincoln to provide specialized loan terms for consumers meeting income requirements who want to purchase homes within Lincoln city limits.
Selected homebuyers will be required to complete NWL’s nine-hour Homebuyer Education Program.
During the past 28 years, NWL has helped nearly 1,350 households in Lincoln achieve the dream of homeownership.
For information contact Michael A. Renken, chief executive officer, at 402-477-7181 or email@example.com
• NeighborWorks Northeast Nebraska, a nonprofit 501 (c)(3) in Norfolk, Neb., that will use $500,000 to continue offering a Purchase/Rehab/Resell program for 15 qualifying individuals and families earning at or below 100 percent of the Area Median Family Income for the respective counties of Colfax, Cuming, Madison, Pierce, Platte, Stanton and Wayne in which they purchase their homes.
Prospective homeowners will receive down payment and closing cost assistance of 20 percent of the home’s purchase price up to $20,000. A portion of funding will go toward testing for existing lead paint and risk assessment.
Additional funding of $75,000 from NeighborWorks and America Capital Funds will complete the project.
For information contact Roger D. Nadrchal, chief executive officer, at 402-379-3311 or firstname.lastname@example.org
•Pender Community Development, Inc., a nonprofit 501 (c)(3) in Pender, Neb., that will use $732, 950 to construct Logan Valley Cottages, rental units consisting of one duplex and one triplex (five units) at 5th and Ivan streets, and 6th and McCabe streets. For the first five years, all units will target qualifying low- and middle-income families earning at or below 80 percent of the Area Median Family Income.
All five units will feature two bedrooms measuring 1,393 sq. ft. Each unit will feature an attached garage, storm shelters, washer, dryer, range, refrigerator, dishwasher, garbage disposal, microwave and garage door openers. Lawn care, snow removal and trash pick-up will be provided by the property’s owner.
Additional funding of $81,500 from a convention loan will complete the project.
Contact Diann Ballard at 402-922-1652 or email@example.com
CONTACT Kate Ellingson at 800-426-6505, 402-471-3749, or firstname.lastname@example.org