Schuyler Economic Development receives honors
The Nebraska Investment Finance Authority (NIFA) recently honored Schuyler Community Development (SCD) at its annual Housing Innovation Marketplace Conference in La Vista, honoring the local entity with its 2018 Innovative Project of the Year award.
Completed in 2017, Kracl Meadows located in Schuyler is a 14-unit independent senior rental housing development. The seven duplexes were funded with federal tax credits awarded by NIFA. In addition, The Nebraska Department of Economic Development awarded $589,265 in HOME funds for the construction of the units. These units are available for those 55 and older and who meet the income guidelines of 60 percent of the Area Median Income or below.
The units filled up quickly and were a significant upgrade for many residents. The quick lease-up was a sure indicator of the pent up demand for affordable housing in the Schuyler region, according to released information from Schuyler Community Development.
SCD and the network of partners it has built have been critical to getting these units off the ground and completed. At the same time, SCD constructed eight workforce housing units that were initiated under NIFA’s Workforce Initiative Pilot Program. SCD partnered again with Mesner Development Co. of Central City to produce these new single-family units for purchase or rent.
Following Kracl Meadows’ success, Schuyler completed a city-wide housing study in 2018 with the goal of fostering further housing development. Also in 2018, funds from the Rural Workforce Housing Investment Act and NIFA’s Rural Workforce Housing Match Program were awarded to Schuyler for producing additional workforce housing units.
Partners involved with the Kracl Meadows and Workforce Housing Project included Mesner Development Co, Schuyler Community Schools, Cargill QC Supply, City of Schuyler, Schuyler Department of Utilities, Pinnacle Bank-Schuyler, Midwest Housing Equity Group, Midwest Housing Development Fund, Nebraska Department of Economic Development, Schuyler Community Development and NIFA.