LINCOLN, NEB. (February 16, 2005)--Organizations and communities have an opportunity to apply for an additional $2 million in funding that will be awarded through the Nebraska Affordable Housing Trust Fund (NAHTF). The $2 million was budgeted in 2004 for rental assistance for adults with serious mental illness, however the program will not be ready for implementation until FY05-06.

The $2 million NAHTF will be divided among the 2004 Flexible Investment Targeting (FIT) application cycle beginning March 28, 2005, and the 2004 Low Income Housing Tax Credit (LIHTC) CRANE (Collaborative Resource Allocation for Nebraska) program set aside for special needs projects.

Priority will be given to development projects applying for FIT funding that are innovative in physical design, financing, and program delivery; highly leveraged; and models that can be replicated in other areas of Nebraska. Funding is designed to help those NAHTF eligible projects that cannot be accessed through the 2005 application process, program set-asides, or zone set-asides. A pre-application form will be posted on the DED website no later than February 28.

LIHTC CRANE projects that serve adults with mental illness and/or the homeless will receive priority. Staff members from the Nebraska Department of Economic Development (DED) will be closely involved in the site selection, budget development, service packaging, and project financing process prior to full application for LIHTC funds to ensure compliance with the Nebraska Affordable Housing Trust Fund program. Selection of all projects within the LIHTC CRANE criteria will be made after any LIHTC conditional reservations are met, and on an as ready basis.

In addition, the non-LIHTC rental project application, due March 28, 2005 to DED, will be opened to projects that have a 2005 LIHTC round 1 conditional reservation.

FOR INFORMATION, CONTACT:

Lara Huskey at 800-426-6505, 402-471-3759,
or email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it