Applications are being accepted to participate in a rental rehabilitation project. The City of Fremont received a $310,500 award for single family rental rehabilitations from the Nebraska Affordable Trust Fund. The grant covers single family units but does not cover multi-units. Per state requirements, rental housing units located within a special flood hazard area will not be eligible for assistance. A 50% match is mandatory, and the maximum award is $40,000 per rehab project.
As part of the grant requirements, program guidelines were put in place. These requirements include, among other details, properties must be rented to tenant households at or below 120% of the Area Median Income (AMI) for Dodge County per the standards established by the Department of Housing and Urban Development (HUD). Rent limits are another requirement and cannot exceed 65% of HUD Home rent limits for Dodge County. Tenant income and rent limits must remain in compliance with this guideline for the duration of a ten (10) year affordability period to participate in the program.
The program also includes lead-based paint regulations. For homes built prior to 1978, funding assistance will mitigate any lead-based paint hazards found in rehabilitation properties. This includes tenant and property owner education to ensure the health and safety of benefiting households.
The program is operated by the City of Fremont through its Housing Rehabilitation Board and in partnership with Northeast Nebraska Economic Development District. Interested property owners can reach out to Mandy Gear at firstname.lastname@example.org for more information and to apply. Program information can also be found on the city’s website at https://www.fremontne.gov/959/Rental-Rehabilitation-Opportunity.