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Over $1.2 Million Awarded To Northeast Nebraska For Housing

Posted: 18 December, 2012

LINCOLN - The Nebraska Department of Economic Development has awarded $1,265,860 in Nebraska Affordable Housing Trust Funds (NAHTF) and HOME funds to several organizations serving the housing needs of citizens living in northeast Nebraska. The awards and cities or organizations include:
$500,000 HOME to NeighborWorks® Northeast Nebraska(NWNEN), a nonprofit 501(c)(3), Norfolk, Neb., to administer a Purchase/Rehab/Resell program for 13  homebuyers in Colfax, Cuming, Madison, Pierce, Platte, Stanton and Wayne counties. Eligible participants are those earning incomes at or below 80 percent of the Area Median Family Income. Of the 13 homebuyers, five will qualify as first-time homebuyers. Down payments or closing costs of 20 percent of the purchase price, not exceeding $20,000, will be available.
$365,800 NAHTF to Northeast Economic Development, Inc., a nonprofit 501(c)(3), Norfolk, Neb.to acquire  vacant lots, build four single-family homes, and provide down payment assistance to qualifying homebuyers based on where the homes are ultimately built in the organization’s service area. This includes Burt, Cedar, Colfax, Cuming, Dakota, Dodge, Dixon, rural Douglas, Madison, Pierce, Platte, Stanton, Thurston, Washington, and Wayne counties. The homes will be sold to eligible participants earning incomes at or below 100 percent of the Area Median Family Income. Loan assistance will be provided through either a development subsidy, down payment assistance, or both, not to exceed $75,000 each.
$250,000 HOME to NEHI, Inc., a nonprofit 501(c)(3) Community Housing Development Organization, Allen, Neb., to purchase, rehabilitate and resell eight homes in Cedar, Dakota, Dixon and Pierce counties to qualifying low-income first-time homebuyers earning at or below 80 percent of the Area Median Family Income. Down payment assistance up to $20,000 per home will be available, as well as $2,000 closing costs per home when other funds are unavailable.

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