Request for Donations To Build New Housing Units!
31 Jul 2023
YCDC is Raising Funds for a Housing Revolving Loan to Build New Housing Units:
YCDC is looking for donations to raise $500,000 in cash match to secure a $1,000,000 grant that has already been awarded, to create a housing revolving loan fund. We do have a pass-through agreement with York Community Foundation for those who are interested in a tax donation (please check with your accountant or tax consultant to verify that you can take advantage of this option). You can make a contribution either to YCDC or through YCF at https://www.yorkcommunityfoundation.org/donate.html. If you use the online YCF portal, please put a note in the “Tribute Information or Note about donation” that funds are going towards YCDC housing grant match.
Intended use of Funds:
York County Development Corporation (YCDC) has collaborated with multiple partners to address our critical housing shortage and develop creative strategies. Funds collected during this campaign will be used towards the Grant match of $500,000, for a $1,000,000 grant which has been awarded. These funds will be used as a revolving loan fund to assist with developing workforce housing throughout York County.
This RLF will be used as low-interest loans for creating housing in the following price ranges $325,000 and under for new construction owner-occupied or $250,000 per door on rental units. YCDC is working with a potential apartment complex, a potential subdivision project, and smaller projects. The RLF funds moving forward will be used in a manner consistent with the YCDC Investment Plan.
As of July 2023, York County businesses had 453 job openings listed on NEWorks. On July 26, 2023, there were 33 homes listed for sale in York County with an estimated median home price of $303,797. Zillow showed 33 units, some of which were in-fill lots, and several that showed as pending on realtors’ websites. According to the 2021 York County Housing Study conducted by RDG, there are 6,298 housing units with 4,022 of those units being owner-occupied with the rest being rental. With 33 units on the market, it leaves us with less than 1% of the housing stock is currently for sale, far from the healthy 5-8% needed. It also showed a need of over 550 units needed before 2030. The private market has built less than 20 since mid-2021, which is far less than the 50+ needing to be built each year. This shows that our communities need additional resources to attract development, which is where the RWHF RLF comes in.
YCDC has committed $35,000 and other businesses are making commitments. You can commit using this form and email it to firstname.lastname@example.org or submit it with a check to 601 N. Lincoln Ave., York, NE 68467.
Thank you for your donations!
Central Valley Ag, Collins Aerospace, Cyconaire Corporation, EpWorks LLC, Ginger Johnson LLC, Kopsa Otte + Associates, McCarthy Holthus L.L.P., McCormicks Heating & Air Conditioning, The Jewelers Vault, Union Bank & Trust, and York Heating & Air Conditioning, Inc.
Sponsors will get recognition on marketing material unless not desired.