BEATRICE – City of Beatrice officials have approved a Rural Workforce Housing Fund agreement between the city, the communities of Fairbury, Auburn, Geneva and Deshler and the Southeast Nebraska Development District.
The communities have contributed to create a revolving loan fund under terms of a new state law…LB 518…aimed at building workforce housing.
Beatrice City Administrator Tobias Tempelmeyer says the cities agreed to join efforts, working with the development district. A seven-member committee will be established.
:23 “and the developer”
Tempelmeyer has been named as the Beatrice representative to the housing committee. The City of Beatrice initially contributed $133,000 to the start-up of the loan fund. Initial housing development funds will go to participating communities where developers build housing. In future years, other communities in the region could apply for support from the loan fund.
:05 “and more projects”
Tempelmeyer says early on, communities are looking at shorter term loans to developers of housing projects, to turn over loan revenue more quickly.