Nebraska Investment Finance Authority © 2015 2015 NCSHA Annual Conference Housing Study Grant...
Transcript of Nebraska Investment Finance Authority © 2015 2015 NCSHA Annual Conference Housing Study Grant...
Nebraska Investment Finance Authority © 2015
2015 NCSHA Annual Conference
Housing Study Grant Program – Knowledge is Key
Elizabeth Fimbres, Outreach Program ManagerSeptember 28, 2015
Nebraska Investment Finance Authority © 2015
Program History
• Started in 2005• One or Two funding rounds per year• Scoring is completed by Outreach
Department staff
Nebraska Investment Finance Authority © 2015
Program Funding
Funding is generated from NIFA’s unrestricted earnings from various programs such as the MRB Mortgage Loan Program
Nebraska Investment Finance Authority © 2015
Program Guidelines
• Current Annual Program Funding Level - $162,500• Maximum grant award is $60,000• Minimum 50% cash match for Housing Studies• Minimum 70% cash match for Comprehensive
Plans with Housing Component (New in 2015)• Eligible applicants include any
– Housing– Economic development – Profit or non-profit – Without direct access to property tax revenue streams
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Study Components
The study must contain/address:• Inventory & assessment of current housing stock • Quantify and evaluate demographic & economic
trends• Include a robust and inclusive public planning
process• Housing needs of the area • Identify and prioritize future potential projects• Show evidence of coordination with local
municipality and community stakeholders
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Study Components cont. • Provide Recommendations for:
• Future land use planning• Community facilities• Transportation needs• Employment opportunities
• A workable timeline for the implementation of proposed recommendations
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Application Components
The application must include:• A detailed timeline for the completion of the study• A detailed budget and the identification of all
professional services to be obtained• Written evidence of commitment and source for
matching cash funds
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Application Components cont.
• Three independent letters written expressly to support the application – governing jurisdiction– community organizations
• Recent annual financial report• Detailed description of track record in community
or housing development
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Scoring Criteria
1. Matching Cash Requirement
2. Evidence of Public Planning Process
3. Evidence of Need
4. Community Coordination
5. Letters of Support
6. Track Record
7. Place Based Development (New in 2015)
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Program Awards to Date
• 71 individual studies – NIFA grant funding $1,026,475– Matching funds $1,180,695
• Largest grant = $60,000
• Smallest grant = $3,000
• Average grant = $14,457
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Map of HSGP Awards 2005-2014
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“Our firm endorses this program as the primary housing planning initiative in the State of Nebraska."
Timothy M. Keelan, Principal Partner, Hanna:Keelan Associates, P.C. 5/29/15
Program Impact
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Successful Program Outcome #1Dawson Area Development Corp.
• County wide housing inventory/needs assessment • Included 7 rural communities• Grant awards
– $9,000 in 2006– $8,000 in 2014
• More than $2 Million in grants for housing developments
• More than $5 Million of private investment for new construction of:– Single family– Senior– Rental homes
• Created a full-time housing program manager position
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Dawson CountySpec Homes Development
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Successful Program Outcome #2
Central Nebraska Economic Development District• Several City and County Housing Studies
– Custer County (11 Cities including Broken Bow)• HSGP award in 2009 for $9,400• 15 New Single Family Homes• 25 New Apartment Units• 9 Single Family Renovations
– Howard County (7 Cities including St. Paul)• HSGP award in 2009 for $7,000• Identified Blighted Structures for Demolition• New tri-plex and 6 Duplexes as a result of study
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New Construction inSt. Paul and Broken Bow
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Program Impact
“The first housing study was the impetus to many public and private housing developments in our area.”
– Jennifer Wolf, Dawson Area Development
“There is no doubt that NIFA’s Housing Study Grant Program has been a vital component to the improvement of housing in the entire State, including the Central Nebraska region.”
– Judy Petersen, Central Nebraska Housing Developers
Nebraska Investment Finance Authority © 2015
Housing Study Grant Program
Contact Information:
Elizabeth Fimbres
Website:
www.nifa.org