Village of Clearwater, CORE Development receives housing trust funds

The Village of Clearwater will receive $221,000 from the Nebraska Affordable Housing Trust Fund to develop a housing project.

Notification was received Sept. 9, from the Nebraska Department of Economic Development. Approximately $12.8 million in awards will be presented in the 2021 cycle.

CORE Development, Inc., will receive $315,000 in funds.

Clearwater's application, for construction of a duplex, was submitted in April.

The CORE project will be used for owner-occupied rehabilitation of 12 homes.

Economic Development Director Lauren Sheridan-Simonsen said a local developer and Miller & Associates, of Kearney, were involved in the process "to create a plan that benefits Clearwater for the long haul."

"Housing is a crucial component to retaining citizens and attracting new community members," she said. "The grant award is an enormous step in creating new housing options for Clearwater."

The new housing structure, planned for construction on a lot near the intersection of Nebraska and Utah streets, must be completed with 24 months, according to NAHTF guidelines.

Sheridan said, "The two new homes will improve the neighborhood and bring additional revenue to the village and local businesses. It is an enormous win for Clearwater."

During Monday's village board of trustees meeting, Sheridan-Simonsen told trustees the process "took a lot of people and a lot of work."

Trustee Steve Stearns, who assisted in the application process, said, "I'm still shocked."

Chairman Steve Hankla called the award a "great accomplishment."

According to the DED, "The NAHTF was established in 1996 as a financial resource to help communities tackle local housing needs. The presence of quality housing that is available to citizens and families at all income levels is an important ingredient for growth, local vitality, economic opportunity and quality of life."

NAHTF funds may be applied to support an array of hosuing-related projects. Statewide, funding will be used to develop nearly 400 housing units, including new construction, home rehabilitation and homebuyer assistance.

DED director Anthony Goins said, "The importance of the NAHTF program to Nebraska's economic vitality simply cannot be overstated. You can travel to places throughout Nebraska and see entire neighborhoods that have been built or impacted with support from this funding source. It is an essential tool in our goal of tackling the housing shortage and ensuring all our communities have the economic resources and opportunities they need to thrive."