|First Home Targeted||2.375%*||2.750%*|
|Homebuyer Assistance (HBA)||3.125%* - 1st loan|
1.000%* - 2nd loan
|3.500%* - 1st loan|
1.000%* - 2nd loan
Last changed 10/26/21 at 9:00 a.m
*This is not an advertisement for credit as defined in Reg.Z; contact a participating NIFA lender for Annual Percentage Rate (APR) information. Rates are subject to change without prior notice.
CELEBRATING 20 YEARS OF CRANE!
The Collaborative Resource Allocation for Nebraska (CRANE) program is a strategic allocation process between NIFA and other collaborating resource providers to accomplish difficult projects. CRANE promotes collaborative partnerships between housing experts and developers that lead to creative financing options, effective partnerships and eventual ground-breakings of innovative projects.
Today we are showcasing City Impact Homes, located in Lincoln, Nebraska!
City Impact Homes
This development is located on Overland Trail between 31st and 33rd Streets, near Peter Pan Park in Lincoln. It consists of one 3-bedroom unit, seven 4-bedroom units, and six 5-bedroom units that are operated under the CROWN program.
City Impact Homes utilized CROWN tax credits, whereby qualified residents will rent the townhomes or homes for an initial 15-year period. During the initial 15-year period, utilizing a variety of local services and resources, residents will receive homeownership education in the areas of credit, finance and home maintenance to position them to be able to purchase the home at the end of the 15th year. A small stipend from their monthly rent will be put into an account that will be available to them to help purchase the home at the end of year 15.
City Impact Homes was developed by City Impact and Excel Development Group. The project was financially supported by Low Income Housing Tax Credits received through the CRANE program as well as HOME funds from the City of Lincoln. Additional sources of funding for the development included FHLBank of Topeka AHP funds, HOME funds from the Nebraska Department of Economic Development, and owner equity.
Management & Amenities
City Impact Home's is managed by Excel Development Group and some of the amenities include:
• A community facility building adjacent to Peter Pan Park and Mo-Pack Trail
• Attached two-car garages
• All electric and energy-efficient homes
• Washer and dryer in every unit
City Impact provides support services, including homeownership classes, budgeting classes, strengths-based leadership development for adults, physical wellness classes, entrepreneurship classes, and an Impact Leadership Academy for youth.
“Our vision is to see urban youth, families and neighborhoods transformed from the inside out. This project gives us the opportunity to positively impact the lives of 14 families, offering empowerment to equip them for success.” -Brad Bryan, Board Member of City Impact
Explore more about City Impact Homes and see the affordable rent to own spaces.
"Because of this public/private partnership, we were able to maximize the attractiveness and quality of the design of these units, while offering affordable rents. City Impact Homes will be more than just a place to live; these homes will provide opportunities to positively impact the residents and their families as well as the neighborhood." -Brent Williams, President of Excel Development Group