NE Department of Economic Development Makes Housing Funds Available

The Nebraska Department of Economic Development (DED) has announced that it will make available Disaster Recovery Housing Project Funds to aid communities impacted by the March flooding disaster.

“Nebraskans weathered the storm together and now we’re going to rebuild together,” said DED Director Dave Rippe. “This resource will help position communities to address local housing needs in the wake of the disaster.”

The Department will award a total of $3,005,000 to eligible applicants based in counties that received a flood-related disaster declaration by the Nebraska Emergency Management Agency (NEMA). Eligible applicants include governmental subdivisions; public housing authorities; community action agencies; community-based, neighborhood-based or reservation-based nonprofit organizations; and for-profit developers and contractors applying alongside a previously mentioned eligible applicant.

DED will review and score applications to ensure the most impactful distribution of limited funding. Awarded applicants will be eligible for up to $500,000, with a 10% cash matching requirement based on the total funding request.

Other recovery efforts include the U.S. Small Business Administration approving more than $25,000,000 in low-interest disaster loans. For homeowners and renters, SBA has approved 417 loans for $22,000,300 and for businesses and private nonprofits, SBA has approved 20loans for $3,093,300.

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