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LINCOLN — Nearly $13 million in awards from the Nebraska Affordable Housing Trust Fund were announced Tuesday.
Established in 1996 by the Nebraska Legislature to address the state’s affordable housing needs, the fund is fueled by a portion of the documentary stamp tax from real estate transactions.
The Nebraska Department of Economic Development administers the program, which assists local governments, public housing authorities, community action agencies, nonprofits and for-profits that work with the entities.
‘Highly competitive’
Trust fund dollars can be used for housing-related projects, new construction or rehabilitation, or for first-time homebuyers through direct assistance such as down payment and closing costs.
The 2023 cycle was “highly competitive,” the DED said — with 70 applications seeking about $42 million.
The state agency selected 23 individual projects to share $12.75 million that support development of at least 264 housing units.
DED Director K.C. Belitz said the program is proven to generate strong interest.