Housing trust fund

The Department of Housing and Urban Development Assistant Secretary for Community Planning and Development awarded the Nebraska Department of Economic Development $3,134,373.20 under the Housing Trust Fund formula grant program (CFDA 14.275) on September 23, 2025, for the production, preservation, and rehabilitation of rental housing serving extremely low-income and very low-income households.

The recipient must allocate at least 80 percent of funds to rental housing acquisition, new construction, or rehabilitation, with up to 10 percent available for homeownership activities and up to 10 percent for administrative and planning costs. Up to 30 percent of the grant may support operations of rental housing acquired, constructed, or rehabilitated with these funds. Assistance takes the form of grants, equity investments, or interest-bearing or non-interest-bearing loans to eligible developers and housing entities. Priority targets households with incomes at or below 30 percent of area median income or the federal poverty line, whichever is greater.

The Nebraska Department of Economic Development, a state agency based in Lincoln, Nebraska, administers Housing Trust Fund allocations as a pass-through entity to local governments and community development organizations throughout Nebraska. The performance period runs through September 23, 2032. Grantees must commit all funds to projects within 24 months and expend funds within 5 years of drawdown. An allocation plan is due to HUD no later than August 16, 2026.