Low-cost loan applications coming soon to transform Fremont properties

14 Jul 2023

FOR IMMEDIATE RELEASE

The Greater Fremont Development Council (GFDC) announces low-cost loans for qualifying homeowners and developers. The $1.5 million Nebraska Rural Workforce Housing Fund grant targets a range of properties to increase quality and affordable housing in Fremont.

FREMONT, Neb. – Rundown homes and vacant lots in Fremont could soon become attractive and affordable housing. The Greater Fremont Development Council (GFDC) says the new housing grant is essential to grow the Fremont area workforce. The revolving funds give local developers and homeowners low-cost incentives to bring new life to old properties. As loans pay off, the cycle starts again with new projects.

ELIGIBLE HOUSING TYPES

empty homes Convert space above downtown Fremont businesses to residential units

rundown homes Undertake major renovations equal to at least 50 % of the assessed property value

build homes Upgrade empty lots with new homes or major rehab to restore abandoned properties

Megan Skiles, GFDC president and CEO, says the success of the new Fremont Municipal Port Authority depends on a variety of housing choices. “This grant shows port authority business prospects the strength of Fremont’s partnership with the state of Nebraska,” said Skiles. In the last five years, housing funds managed by GFDC have climbed to $4.3 million.

Fremont businesses and area nonprofit organizations most recently raised $500,000 to secure the full grant match of $1 million. Approximately $25,000 is reserved for individual partnerships with Fremont Habitat for Humanity and Rebuilding Together, Platte Valley East.

Applications will be available soon on the GFDC website. To join a list of potential applicants, contact GFDC grants administrator Therese Hoyle.

Greater Fremont Development Council (GFDC) is a nonprofit organization dedicated to the growth and prosperity of Fremont, Nebraska. The public-private partnership fosters a development-friendly environment for new and existing businesses to grow. Opportunities include the centrally located Fremont Municipal Port Authority, bordered by major rail lines, four-lane interstate highways and top public utilities. Grow your business in Fremont. Visit Greater Fremont Development Council at www.fremontecodev.org

Contact: Loretta Carroll / 402-871-3710

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