Rural Workforce Housing Funds
Twin Cities Development (TCD) has a $1.8 million Revolving Loan Fund (RLF) to provide additional opportunities for contractors and developers to provide or improve housing in the communities within the three-county area of Kimball, Scotts Bluff, and Morrill Counties.
In 2020, TCD was awarded a grant fund to help provide low-interest, short-term loans in the form of the RLF. While the Rural Workforce Housing Fund (RWHF) monies distributed to contractors are NOT a grant, the terms of the loans are favorable: as low as zero percent interest rate for single-family residence new construction and two percent fixed for rehabilitation projects.
What types of projects are eligible for funding through RWHF?
RWHF provides continual investment in workforce housing projects and is intended to perpetuate for continued use and provide sustainable impact to address housing needs. The eligible activities include:
- New construction of owner-occupied or rental housing in a community with demonstrated workforce housing needs;
- Substantial repair or rehabilitation of dilapidated housing stock for which the cost to rehabilitate exceeds 50 percent of the current assessed value;
- Upper store housing development;
- Rehabilitation that includes the conversion of an existing building into housing.