Advertisement

Shot in the Arm - Phase Three, Housing Incentive

Applications due June 1
The third round of the ‘Shot in the Arm’ housing incentive funds.
The third round of the ‘Shot in the Arm’ housing incentive funds.({Source: WBRC})
Updated: May. 11, 2021 at 9:24 AM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

NORTH PLATTE, Neb. (KNOP) - The North Platte Area Chamber & Development Corporation will be accepting applications from housing developers until June 1, 2021 for the third round of the ‘Shot in the Arm’ housing incentive funds. Applications can be found on the Chamber website at http://www.nparea.com/shot-in-the-arm-housing-incentive.

The Chamber & Development Corporation was successful in securing $500,000 from the Nebraska Rural Workforce Housing Fund distributed by the Nebraska Department of Economic Development to be matched with $550,000 of local funding from the City of North Platte’s Quality Growth Fund, Great Plains Health, and the Chamber’s Economic Incentive Partners.

All housing projects must be within the City of North Platte zoning jurisdiction.

The $1,050,000 of incentive funds also includes a $200,000 pilot project for rehabilitating existing housing 60 years of age or older. That program will be administered by the Lincoln County Community Development Corporation. Please call 308-534-5095. Projects are limited up to $25,000 each and must include matching funds from the developer. Each can be eligible for micro-TIF also.

All details of the incentives available are listed within the application. The first two phases of the successful program (2015-2020) have resulted in 213 new housing units for the North Platte area.

Once all applications have been received, the Chamber’s Shot in the Arm Committee will determine how much allocation each developer will receive, according to Chamber & Development President Gary Person. Preliminary demand for applications is quite high, Person said, so the committee will try to be as fair as possible in the distribution of the funding, based on the project’s merit, developer’s experience and financial capability, and their ability to complete all projects by June 30, 2023.

The application is a fillable form. After completion, please print out and sign the applicable documents before returning to the Chamber, through mail at 502 S Dewey, an email attachment to gary@nparea.com, or dropped off at the office by the June 1 deadline. If you have questions, call 308-532-4966.

Copyright 2021 KNOP. All rights reserved.