Nebraska Investment Finance Authority © NCSHA Annual Conference Housing Study Grant Program – Knowledge is Key Elizabeth Fimbres, Outreach Program Manager September 28, 2015

Nebraska Investment Finance Authority © 2015 Housing Study Grant Program Knowledge is Key! Use our Grant Program to Help Your Community –Survive –Revive –Thrive!

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

Nebraska Investment Finance Authority © 2015 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

Nebraska Investment Finance Authority © 2015 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

Nebraska Investment Finance Authority © 2015 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

Nebraska Investment Finance Authority © 2015 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

Nebraska Investment Finance Authority © 2015 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)

Nebraska Investment Finance Authority © 2015 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

Nebraska Investment Finance Authority © 2015 Map of HSGP Awards

Nebraska Investment Finance Authority © 2015 “ 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

Nebraska Investment Finance Authority © 2015 Successful Program Outcome #1 Dawson 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

Nebraska Investment Finance Authority © 2015 Dawson County Spec Homes Development

Nebraska Investment Finance Authority © 2015 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, 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

Nebraska Investment Finance Authority © 2015 New Construction in St. Paul and Broken Bow

Nebraska Investment Finance Authority © 2015 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: