Agency receives housing grant

LINCOLN, Neb.- The Nebraska Department of Economic Development has unveiled its beneficiaries of the 2023 Nebraska Affordable Housing Trust Fund program, offering a total of $12.75 million in support to 23 housing initiatives across the state.

Among the recipients is the Southwest Nebraska Community Betterment Corp. serving five Southwest Nebraska counties, with $431,000 for home rehabilitation and $50,000 for non-profit technical assistance.

Established in 1996 under the Nebraska Affordable Housing Act, the NAHTF leverages a portion of the documentary stamp tax from real estate transactions to advance affordable housing. This initiative aids in attracting families, and businesses, and ensuring housing accessibility for all income levels.

The program assists local entities, housing authorities, nonprofits, and for-profit organizations involved in affordable housing efforts, contributing to the construction of new units, rehabilitation of existing housing, and direct homebuyer assistance.

This year, the NAHTF application cycle drew intense competition, with 70 applicants vying for a share of the $12.75 million allocated. A total of 264 housing units will be developed through the 23 selected projects, encompassing new home construction, rental housing, rehabilitation, and homebuyer support.

DED Director K.C. Belitz praised the recipients for their compelling proposals in addressing local housing needs, highlighting the program's significance. More information about the NAHTF program can be found here.