GRETNA, NEB. (May 8, 2008)—The Nebraska Department of Economic Development (DED) has awarded $625,000 in Nebraska Affordable Housing Trust Fund (NAHTF) money to Midwest Housing Development Fund of Omaha to build 15 single family homes on the outskirts of Gretna. The homes will rent for approximately $562 per month to tenants earning at or below 60 percent of the area median income. 
In addition to the NAHTF money, the Nebraska Investment Finance Authority-administered “Credits to Own” (CROWN) project will include equity from the sale of low-income housing tax credits, permanent financing, and equity from the managing member. Foundations Development, LLC, under the direction of Rob Woodling will develop the project, and Foundations Development, LLC and Santa Fe Pointe, Inc. will co-manage it.  CROWN projects, which use low-income housing tax credits as one financing tool, provide tenants with the opportunity to purchase their homes after a15- year tax credit compliance period.
The Santa Fe Pointe CROWN project will be built at S. 212th St. and West Gruenther Road. There will be four floor plans, three ranch designs and one split entry design. All homes will range from 1,500 to 1,800 sq. ft. and include four bedrooms, two bathrooms, and an attached garage. Other amenities will include washer and dryer, range, refrigerator, microwave, dishwasher, playground equipment, storage area and a geothermal closed loop heat pump.

FOR INFORMATION CONTACT
Patty Wood at 800-426-6505, 402-471-1559 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it