The Nebraska Department of Economic Development is seeking applications for its Middle Income Workforce Housing Investment Fund.
Donor Name: Nebraska Department of Economic Development
State: Nebraska
County: Douglas County (NE), Lancaster County (NE), Sarpy County (NE)
Type of Grant: Grant
Deadline: 02/20/2025
Size of the Grant: More than $1 million
Grant Duration: 2 Years
Details:
The Middle Income Workforce Housing Investment Funds (MWHF) can be invested to develop attractive housing options that lead to the recruitment and retention of a world-class workforce in Nebraska’s older urban communities in counties with a population greater than one hundred thousand inhabitants as determined by the most recent federal decennial census. Currently, this includes Douglas, Lancaster, and Sarpy counties only
Housing Projects Eligible for MWHF Awards Include:
- Construction of new owner-occupied housing units that cost not more than $330,000 to construct.
- Owner-occupied housing units for which the cost to substantially rehabilitate exceeds 50% of the unit’s before-construction assessed value. After construction, appraised value of the building alone must be at least $125,000 but not more than $275,000.
- Upper-story housing for occupation by a homeowner.
- In all cases, housing must not be a beneficiary of federal or state low-income housing tax credits, Community Development Block Grant funds, HOME Investment Partnerships funding, National Housing Trust Funds, American Rescue Plan Act funds, or funds from the Nebraska Affordable Housing Trust Fund.
Funding Information
No more than $10,000,000 may be awarded to any one non-profit development organization over a two-year period and through fiscal year 2026-2027.
Eligible Activities
The intent of the workforce housing investment funds is long range, continual investment in workforce housing projects. The funds are intended to revolve, to the greatest extent possible. The MWHF eligible activities of a non-profit development organization include:
- New construction of owner-occupied housing in a neighborhood and community with a demonstrated need for housing that is affordable and attractive to first time homebuyers, middle-income families, and the emerging workforce;
- Substantial repair or rehabilitation of dilapidated housing stock for homeowners or homebuyers, for which the cost to rehabilitate exceeds fifty percent (50%) of the unit’s assessed value;
- Upper story housing development for occupation by a homeowner;
- Rehabilitation that includes the conversion of an existing building into housing for occupation by a homeowner.
Eligible Areas
Projects must take place in Lancaster and Sarpy counties, or within or adjacent to qualified census tracts in Douglas County.
Eligibility Criteria
The MWHF funds must be granted to an eligible regional or statewide non-profit development organization that meets at least one of the following:
- 501(c)(3), 501(c)(4), or 501(c)(6) housing or related service organization:
- with a designated service area of at least one community in an eligible county, one eligible county, multiple eligible counties, or statewide;
- shall invest, or intend to invest, in workforce housing eligible activities;
- shall use any fees, interest, loan repayments, or other funds it received as a result of the administration of the award to support qualified activities;
- have an active board of directors with expertise in development, construction, and finance that meets at least quarterly to approve all qualified investments made by the non-profit development organization;
- have a formal investment plan and proven expertise to invest unused workforce housing investment fund balances; and
- have an annual audit of all financial records conducted by an independent certified public accountant.
Award Evaluation
Competitive awards from the MWHF will be evaluated on demonstrations of:
- Need for additional owner-occupied housing needs as identified by a recent housing study or letter from the city planning department;
- A neighborhood or community that has a higher-than-state average unemployment rate;
- A neighborhood or community that exhibits a commitment to growing its housing stock;
- Projects that can reasonably be ready for occupancy in a period of 24 months;
- The ability to grow and manage a workforce housing investment fund.
For more information, visit NDED.
