Omaha Mayor John Ewing and representatives from Front Porch Investments last week announced a proposed plan for the City of Omaha to enable the use of $40 million in bonds to build and preserve affordable housing in the city’s urban core as soon as 2026, a decade sooner than Tax Increment Financing revenue would be available to support it.
An anonymous funder is prepared to purchase $40 million in bonds, which the city would grant to Front Porch Investments to distribute to stimulate affordable housing development and preservation in the urban core.
Front Porch Investments, a non-profit that helps connect affordable and workforce housing developers and available public and private funding, will leverage these bond funds as part of the Urban Core Housing and Mobility Redevelopment Plan…