Date:

August 30, 2007

For More Information Contact:

Diane Gonzolas, Citizen Information Center, 441-7831

Jennifer Buxton, LAPHDC, 471-4515, ext. 110

Mayor Chris Beutler and the Lincoln Action Program Housing Development Corporation (LAPHDC) today announced that the Nebraska Department of Economic Development (NDED) has awarded $898,200 in grant funds to LAPHDC for three housing projects in the City of Lincoln. The grants were made available through the Nebraska Affordable Housing Trust Fund and will assist LAPHDC in implementing the following neighborhood programs:

• A new program in the Clinton neighborhood will benefit from a $258,500 grant to help rehabilitate nine owner-occupied houses. Eligible clients will be able to borrow up to $24,000 for home improvements.
• A new program in the Hartley neighborhood will benefit from a $266,300 grant to help purchase, rehabilitate and resell four homes.
• An existing program in the Clinton neighborhood will benefit from a $373,400 grant to help purchase, rehabilitate and resell seven homes.

For the second two programs, eligible clients can apply for $25,000 for rehabilitation and for loans of up to $15,000 for down payment assistance. Once accepted into the program and pre-qualified for a mortgage, clients are able to select their own homes in the participating neighborhoods.

“These funds will help local families achieve their dreams of home ownership and home improvement,” said Mayor Beutler. “By improving the existing housing, we strengthen these key neighborhoods, and that in turn strengthens our entire community. I want to thank the State for awarding these grants and the LAPHDC for its commitment to community issues.”

“Community-level programs, including these housing grants, play an important role in helping our communities support economic opportunity,” said Richard Baier, NDED Director. “Ensuring that affordable housing needs are met is part of a comprehensive approach to community improvement and neighborhood revitalization that goes hand-in-hand with local growth and economic development.”

“A home is the most important asset many Americans will ever own,” said Jennifer Buxton, LAPHDC Executive Director. “The impact of home ownership affects a family for a lifetime; however, home ownership isn’t just about one family, it’s also about neighborhood unity and community growth.”

Interested individuals and families can begin applying for the programs in September by contacting:
Jessica Bowen
LAPHDC
210 “O” Street
Lincoln, NE 68508
471-4515, ext. 249

To be eligible for these programs, households must have incomes at or below 80 percent of area median income. Those participating will have up to two years to complete the projects.