Custer Economic Development Corporation (CEDC) plays an important role in supporting the economic growth and development of Custer County. We strive to be a valuable resource for businesses and individuals looking to start, grow, or relocate to the area. However, one of the biggest challenges for business owners and employees is finding a place in Custer County to (literally) locate. CEDC has identified this as a key issue influencing the shortage of workforce in our area and has prioritized housing development as a result.
CEDC has applied for and been awarded a handful of housing grants through the state Department of Economic Development (DED). The shortage of workforce housing is an issue all across the state, and with the high cost of inputs it is very difficult to build housing for an affordable price. One of the grants we are using seeks to address this issue.
The Nebraska Affordable Housing Trust Fund (NAHTF) is a state-funded program that provides financial resources to organizations and developers for the creation and preservation of affordable housing in Nebraska. The NAHTF was established in 1996 with the purpose of addressing the shortage of affordable housing in the state, and it is administered by the Nebraska Investment Finance Authority (NIFA).
The NAHTF provides funding to developers for the acquisition, construction, rehabilitation, and preservation of affordable rental housing units. The program also offers financial assistance to first-time homebuyers through the First Home Program, which provides down payment and closing cost assistance.
Funding for the NAHTF comes from a variety of sources, including state appropriations, federal grants, and private donations. The program is overseen by a board of directors, which is appointed by the Governor of Nebraska.
Overall, the Nebraska Affordable Housing Trust Fund plays an important role in increasing the availability of safe, decent, and affordable housing for low- and moderate-income individuals and families in Nebraska.
CEDC has used the Trust Fund to build and sell two houses in Broken Bow and is in the process of building a third in Callaway. After the third is built, we can use any leftover funds along with any other matching funds raised to re-apply to the program and start the process over.
Questions or comments? We would love to visit with you and talk about how you can get involved to help keep Custer County moving forward.