| Since July 1, 2012: | NIFA continues to increase the supply of affordable housing in the state of Nebraska by facilitating first-time homeownership for Nebraska families, by allocating federal tax credits to finance the development of safe, decent and affordable rental housing and by providing technical assistance & capacity building for urban and rural communities throughout the state. NIFA also continues to assist beginning farmers & ranchers through the financing of low-interest agricultural loans. NIFA accomplishes its mission without the use of state tax dollars. SINGLE FAMILY PROGRAMSingle Family First-Time Homebuyer ProgramSince 2012, NIFA has provided low-interest mortgage financing for 7,847 low and moderate income Nebraska families to purchase their first home, financed by selling over $841.7 million in single family mortgage revenue bonds.Homebuyer Assistance (HBA) ProgramDown payments and closing costs are viewed as the greatest impediments to homeownership for persons of low and moderate incomes. NIFAs HBA program provides down payment and closing cost assistance to first-time homebuyers. This enables buyers to purchase their first home with as little as $1,000 down. With this program, NIFA has provided $6.5 million of down payment and closing cost assistance to 1,428 borrowers since 2012.NIFA Homebuyer CertificateIn June 2012, NIFA launched a Homebuyer Three Steps to a NIFA Loan Campaign to increase awareness of NIFA and the benefits of our programs for qualified homebuyers. This campaign includes a tool on our website that provides potential homebuyers who meet certain guidelines a NIFA Homebuyer Certificate that they may take to a NIFA-participating lender to start their home buying process.Natural Disaster FundIn June 2014, NIFA created a $2 million Natural Disaster Fund with special interest rate mortgage financing in eight Nebraska counties for households that lost their home due to the tornados that affected those areas.OUTREACH PROGRAMA critical component to NIFAs mission is outreach to communities providing ideas, tools and resources to address unique housing and other community needs. Partnering with local, state and federal entities, as well as the private sector, NIFA looks for opportunities to share with communities and their local leadership strategies to work on identified issues.Housing Study GrantsThe housing study grant program was created for the purpose of stimulating ideas for comprehensive development plans encompassing housing, community, and economic development opportunities in Nebraska. Each grant awarded requires a 1:1 matching cash contribution. Since 2012, the program has awarded 48 grants totaling $660,153 with matching funds of $903,847. Housing Study Grants have been completed in numerous neighborhoods, villages, cities, and counties across the state of Nebraska. Affordable Housing Dealmakers MarketplaceIn 2016 NIFA celebrated its 14th year of hosting the Housing Innovation Marketplace, an annual housing conference aimed at stimulating the formation of affordable housing deals. The 2016 conference was attended by over 400 participants from such varied industries as banking, real estate, housing development, non-profit, local government, homebuilding and more.RENTAL DEVELOPMENT PROGRAMLow Income Housing Tax Credits (LIHTC)NIFA has supported 35 affordable housing projects since 2012, allocating resources in 19 Nebraska counties to provide 1,220 additional units of affordable housing throughout the state. NIFA helps to fund these projects through the allocation of federal housing tax credits to private developers, who use these tax credits to assist in the financing of new rental housing or the rehabilitation of existing rental housing stock. Typically, 60-70% of a projects required capital may be provided through the utilization of the federal rental housing tax credits.Workforce Housing Pilot ProgramNIFAs new Workforce Housing Initiative is designed to be a cooperative effort between NIFA and Nebraska communities to address the states need for workforce housing. Under the initiative, communities have access to financing options which are specific to their needs to assist with the development of newly constructed rental housing. NIFA created the Workforce Housing Pilot Program in 2016 to provide, on a shared-risk basis, financing or credit enhancement on a competitive basis for developments in all Nebraska counties other than Douglas, Lancaster and Sarpy. Through a formal RFP process, five projects were submitted and three applicants were selected to work with NIFA in further refining project proposals. One of the applicants is currently in the final stages of their proposal for a workforce housing development in the city of Broken Bow.AGRICULTURE PROGRAMBeginning Farmer Rancher ProgramNIFA continues to assist in the financing of lower interest rate loans for beginning farmers and ranchers to purchase farmland, breeding stock and machinery. This program is carried out through the private placement of NIFAs tax exempt agricultural revenue bonds with participating lenders throughout the state. Important changes in the most recent Federal Farm Bill indexed the maximum loan amount to inflation. Currently, the maximum loan amount is $520,000. Since 2012, this program has assisted 25 first-time farmers, with loans totaling $7.1 million, helping to ensure the tenure of family farm operations in Nebraska.Governors Ag Excellence AwardsNIFA sponsors and funds the Governors Agricultural Excellence Awards, which honors and financially rewards 4-H Clubs & Future Farmers of America Chapters throughout the state. The $50,000 annual awards fund, with individual clubs and chapters receiving $500 - $2500 awards, is designed to help young people prepare for future careers in agriculture.More information on the NIFA programs highlighted above can be found on NIFAs website www.nifa.org under Programs. |