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York County’s Rural Workforce Housing Investment Act

Friday, March 02, 2018

York County Housing Revolving Loan Fund


  • A partnership of businesses, private, public & grant funds to create a revolving loan fund for housing throughout York County
  • This fund would be used to address strategies in the 2015 York County Housing Study

 

Business Donation Form

Individual Donation Form

 

Initial Project


We have an opportunity to have a developer build a 25-35 unit apartment complex with enough land for future growth. YCDC would loan money to the developer, who would pay us back to create a County-wide housing fund through YCDC. 

 

In order for this project to work, we need to:

  • Raise a minimum of $250,000 in commitment letters.
  • Application to Nebraska Investment Finance Authority (NIFA) for matching funds of $250,000. YCDC application to NIFA is due March 16th.  Committments must be received prior to this.
  • We would then use the $500,000 (local money plus NIFA’s funds) for a $500,000 request from Nebraska Department of Economic Development.  
  • This will result in a $1 million-dollar revolving loan fund that can be used for future housing projects.

 

Future Qualified Activities

The intent of the workforce housing investment funds is long range. It’s a continual investment in workforce housing projects.  The funds are intended to perpetuate.  The eligible activities are:

  • New construction of owner-occupied or rental housing.
  • Substantial repair or rehab of dilapidated housing stock, for which the cost to rehabilitate exceeds fifty percent of the units assessed value.
  • Upper story housing development.
  • Rehabilitation that includes the conversion of an existing building into housing.
  • Infrastructure development in association with a project.
  • For owner occupied housing, expenses cannot exceed $275,000 per unit.  For rental units, costs cannot exceed $200,000 per units.

 

Investment Levels

  • Fund will flow through York Community Foundation for those that want a tax deduction.
  • Individuals: $1,000 and up
  • Business/Corporate Levels:
    • $10,000 
    • $25,000
    • $50,000
    • $100,00

Category: Housing, Donations



Nebraska is home to five Fortune 500 Companies

  • Berkshire Hathaway
  • ConAgra Foods
  • Union Pacific
  • Peter Kiewit Sons'
  • Mutual of Omaha

York County is the home of sensational public schools and higher education opportunities.

The county offers 9 different K-12 institutions – all following the Career Pathway mode – and both York College and Southeast Community College's York Regional Learning Center for those pursuing higher education.

Nebraska ... the Good Life

York County, Nebraska is a progressive community strategically located at the intersection of US Hwy 81 and Interstate 80, two of America's most traveled roadways, and is less than 40 minutes from Lincoln, Nebraska's capital city.

Affordable Power

NPPD Industrial energy rates are 11% below national rates based on 2012 Energy Information Administration data. This does not take into account the fact that NPPD had no rate increase in 2014.

Parks, recreational activities, programs and special events for every walk of life

Residents and visitors in York County can enjoy a wide variety of recreational opportunities like sports, dining, nature walks, literature and history, shopping, movies, and the theater. Just to name a few!