Nebraska Affordable Housing Trust Fund Invests Across State

The Nebraska Department of Economic Development (DED) announced the recipients of approximately $17.5 million in awards under the 2022 annual cycle of the Nebraska Affordable Housing Trust Fund (NAHTF).

DED established the NAHTF program in 1996 to help communities address local housing needs through ongoing development projects. The program encourages the creation of safe and affordable housing to establish socioeconomic vitality in Nebraska neighborhoods. Local, regional, and state partnerships are essential in ongoing housing growth, which supports an enhanced quality of life for citizens and families of all income levels.

The NAHTF program assists local units of government, public housing authorities, community action agencies, nonprofit organizations and for-profits working in partnership with one of these entities. NAHTF dollars may be applied to support a variety of housing-related projects, including the construction of new units and rehabilitation of a community's existing housing stock. The program also supports first-time homebuyers through direct homebuyer assistance such as down-payment and closing costs.

The awards will assist 40 individual projects through a total investment of $17,482,102. Funding will be applied to the development of 381 housing units, with plans involving a mixture of new construction, both rental and single-family owned, housing rehabilitation and direct homebuyer assistance. The awards will also support technical assistance efforts to nonprofits with goals to improve capacity for creating additional affordable housing in their service areas.

"Nebraska is a proud investor and supporter in the expansion of our state's diverse housing sector, which serves as a catalyst for business and community development in rural and urban areas," said Lynn Kohout, DED Director of Housing. "For over two decades, our State Trust Fund has complemented the work of our local and regional leaders committed to creating neighborhoods Nebraskans are proud to call home. Our team appreciates the opportunity to harness the Nebraska Affordable Housing Trust Fund to encourage ongoing growth in our state."

For more information about the program, including how to apply, visit https://bit.ly/3AxdDy9.