Twin Cities Development Has Issued $4.5 Million in Workforce Housing Loans Since March 2022

In March 2022, Twin Cities Development (TCD) was awarded a grant to start a Rural Workforce Housing Fund (RWHF) that issues loans for the construction, rehabilitation, and repair of houses in the region. The loans have favorable repayment terms – often with low or zero interest rates – allowing various communities in Western Nebraska to increase their desirable housing inventory.

“The Rural Workforce Housing Fund has been a game-changer for communities across our region,” says Jordan Diedrich, Executive Director at Twin Cities Development. “Since launching in 2022, we’ve been able to invest over $4.5 million into 42 housing units—spanning both new construction and rehabilitation projects.”

Access to quality housing is a challenge across the United States. Learn more about the steps TCD is taking through the RWHF to increase housing inventory. 

Several Western Nebraska Communities Benefit from the RWHF

Loans from the RWHF since 2022 supported 12 new construction units and 30 rehabilitation projects, totaling 42 units worth of investment. While new construction is important for growing populations, communities can also benefit from repairing the houses they have. Restoring an abandoned or damaged house to its former condition makes it livable again while also elevating property values in the surrounding homes.

The 42 houses supported by the RWHF were located across our three-county region. Here is the spread highlighting how all communities benefited from the fund:  

• Bayard: $295,190
• Gering: $660,500
• Kimball: $1,192,000
• Mitchell: $445,800
• Scottsbluff: $1,966,897

Each of these communities has its own charms and attractions for residents. At TCD, we want to increase access to housing across Western Nebraska so people don’t have to leave their towns to have a high quality of life.

The RWHF is Made Possible by Local Partner Contributions

While the RWHF is administered by TCD, it is strong because of the community organizations that contribute to it and promote it across the region. TCD would like to thank its partners who supported the fund and made it the powerful resource it is today. This includes:

• Nebraska Investment Finance Authority (NIFA): $163,745
• Nebraska Department of Economic Development: $1,915,000
• The City of Bayard: $25,000
• The City of Gering: $350,000
• The City of Kimball: $175,000
• The City of Mitchell: $25,000
• The City of Scottsbluff: $550,000
• Western Nebraska Housing Opportunities (WNHO): $125,000
• TCD: $5,000

“This level of investment wouldn’t have been possible without strong collaboration between our local communities, state agencies, and partners like NIFA and WNHO,” says Diedrich. “Housing is a critical foundation for workforce development, and by creating more quality, affordable options in places like Bayard, Gering, Kimball, Mitchell, and Scottsbluff, we’re strengthening our entire region’s ability to grow and thrive.”

The RWHF is Still Accepting Applications 

Homeowners, developers, and investors who are looking for financing options to improve housing access in the area can still apply for loans through the RWHF. Both single-family and multi-family projects qualify. A few qualified activities include:

• The purchase of real estate
• Construction loans
• Supplies and materials costs
• Sub-contractor expenses

Review the application on the TCD website and see if it's a good fit for your needs. If you have any questions about the RWHF, contact Jordan Diedrich at jdiedrich@tcdne.org.

Learn More About Twin Cities Development  

TCD is the economic development association of Western Nebraska. It serves all communities in the region and supports business investment while improving residents' quality of life. Learn more about the programs and opportunities supported by TCD. From helping entrepreneurs get the resources they need to facilitating various grant and loan programs, TCD wants to see Western Nebraska grow and thrive in the coming decades.  

If you run a local business, consider becoming a member. This is the best way to keep up with TCD while also voicing your opinions on the region's future. Together, we can shape Western Nebraska and set our communities up for success.