Gov. Heineman Awards $750,000 to Holdrege for New Neighborhoods Projects

(Lincoln, Neb.) Gov. Dave Heineman announced the city of Holdrege will receive $750,000 from the Nebraska Affordable Housing Trust Fund (NAHTF) to pursue several activities as part of the community’s participation in the New Neighborhoods initiative, which is coordinated by the Nebraska Department of Economic Development (DED).

“The projects associated with the New Neighborhoods program will help communities create affordable, quality homes and help generate other development opportunities in several rural areas,” Gov. Dave Heineman said. “This program works with local leaders to help meet the demand for housing that is crucial to economic development in communities.” 

Funding will be used to acquire and develop a 19 acre site at 12th and Lincoln Streets in preparation for Lincoln Place and provide assistance to qualified homebuyers. The new housing development will feature 12 town homes and eight single family homes for those earning up to 100 percent of the area media income. Holdrege will invest $50,000 in reserved tax increment financing for streets in the new development.  

Town homes values will range from $150,000 to $190,000 and be located in a planned use development with a townhome association and related services. Single-family homes will sell for $130,000 to $160,000. Four other smaller lots have been reserved for future construction of duplexes or condos that could be offered as rentals or for purchase.

Local residents are raising funds to extend a nearby hike and bike trail to the city’s western edge, which would take the trail past two schools, a park, football and softball fields, a proposed soccer field, and the community’s YMCA.

The New Neighborhoods Initiative helps develop planning, community development and housing opportunities with projects spanning several years. Funding for the initiative DED has invested $1.5 million from the NAHTF and $500,000 from the Community Development Block Grant Economic Development Revolving Loan Fund. Other communities participating in the New Neighborhoods initiative include Columbus and Sidney.

For more information about Holdrege projects, please contact Bob Rager at 308-995-8681 or city@cityofholdrege.org.