Federal funds to help add ‘affordable’ dwellings in flood-impacted Nebraska areas

OMAHA, Neb. (Nebraska Examiner) — About $8 million in federal funds is slated to go to 4 completely different Omaha space improvement initiatives to assist ship 159 inexpensive dwellings.

The grants, introduced this week by the Nebraska Division of Financial Growth, goal communities impacted by the March 2019 floods. They’re the second wave of 2022 funding from the U.S. Division of Housing and City Growth’s Neighborhood Growth Block Grant, Catastrophe Restoration Inexpensive Housing Development program, an announcement stated.

The grants are also anticipated to leverage low-income housing tax credit for these initiatives, that are designed to learn households with incomes thought-about low to average. The tax credit score program is run by the Nebraska Funding Finance Authority.

Of the $8 million, $2 million will go to every of those initiatives:

• Kennedy Sq. West/Brinshore Growth for 39 new rental models in Omaha.
• 128 Fort Avenue/Foundations Growth for 64 new building models in Omaha.
• Magnolia Pointe Townhomes/Mesner Growth Group for 20 new building rental models in Fremont.
• Cardinal Commons 1/Excel Growth Group, 36 new building rental models in Bellevue.

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