State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter58 > 58-706

58-706. Affordable Housing Trust Fund; eligible activities.The following activities are eligible for assistance from the Affordable Housing Trust Fund:(1) New construction, rehabilitation, or acquisition of housing to assist low-income and very low-income families;(2) Matching funds for new construction, rehabilitation, or acquisition of housing units to assist low-income and very low-income families;(3) Technical assistance, design and finance services, and consultation for eligible nonprofit community or neighborhood-based organizations involved in the creation of affordable housing;(4) Matching funds for operating costs for housing assistance groups or organizations when such grant or loan will substantially increase the recipient's ability to produce affordable housing;(5) Mortgage insurance guarantees for eligible projects;(6) Acquisition of housing units for the purpose of preservation of housing to assist low-income or very low-income families;(7) Projects making affordable housing more accessible to families with elderly members or members who have disabilities;(8) Projects providing housing in areas determined by the Department of Economic Development to be of critical importance for the continued economic development and economic well-being of the community and where, as determined by the department, a shortage of affordable housing exists;(9) Infrastructure projects necessary for the development of affordable housing;(10) Downpayment and closing cost assistance; and(11) Housing education programs developed in conjunction with affordable housing projects. The education programs must be directed toward:(a) Preparing potential home buyers to purchase affordable housing and postpurchase education;(b) Target audiences eligible to utilize the services of housing assistance groups or organizations; and(c) Developers interested in the rehabilitation, acquisition, or construction of affordable housing. SourceLaws 1996, LB 1322, § 16; Laws 2004, LB 1083, § 101; Laws 2005, LB 40, § 2.