An informational meeting will be held at 10 a.m. on Thursday, May 31, in the City Council Chambers. The City is gathering information to determine the need for rental rehabilitation funds within the targeted comprehensive revitalization area (link to map). Landlords could receive a forgivable loan for up to $25,000 to be used for revitalization efforts such as: weatherization, roofing, siding, foundations, electrical work, plumbing, insulation, windows and more. The following are some of the requirements of the proposed program:
• Forgivable loan for 5 years (affordability period).
• Tenants must be at or below 80% of the county median income for the duration of the affordability period.
• Rent will be subject to HUD’s Fair Market rent rate for affordability periods.
For more information, you may contact Tina at the Northeast Nebraska Economic Development District at 402.379.1150.