NORFOLK, NEB. (July 18, 2008)-The Nebraska Department of Economic Development has awarded $575,000 in HOME funding to Midwest Housing Development Fund, Inc., of Omaha to build 14 single family homes in the Royal Oaks Estates development on the outskirts of Norfolk. The homes will rent for approximately $385 per month to tenants earning at or below 60 percent of the area median income.

In addition to the HOME money, the Nebraska Investment Finance Authority-administered "Credits to Own" (CROWN) project will include equity from the sale of Low Income Housing Tax Credits (LIHTC), permanent financing and equity from the managing member. Project co-developers and co-managing members throughout its 15-year compliance period are Foundations Development, LLC (under the direction of Rob Woodling) and Nova Development, LLC (under the direction of Joni Craighead). Both have a history of successfully developing LIHTC projects.

All 14 homes will be 1,700 sq. ft. and feature four bedrooms and two baths. Each unit will have an attached garage, playground equipment, washer and dryer, range, refrigerator, microwave, dishwasher, storage area and electric security system for all exterior doors.

The development itself will actually be located in Stanton County, in the Woodland Park subdivision on the eastern edge of Norfolk.

For information, contact Cindy Koster at 402-334-8899, or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it