BEATRICE – The City of Beatrice will apply for housing funds under new state legislation, working with the Southeast Nebraska Development District.
The city council Monday night voted 6-1 to allocate $200,000……money that can be matched by the Nebraska Investment Finance Authority and State Department of Economic Development.
Working through SENDD, the application will involve a handful of southeast Nebraska communities. City Administrator Tobias Tempelmeyer says the city’s contribution would come from a local economic development fund financed by the local sales tax.
:19 “to the other”
LB 518 allocated about seven million dollars in support for development of workforce housing. The money contributed by communities and the matching funds form a revolving loan fund.
Beatrice City Councilman Ted Fairbanks said he likes the concept, but could not vote for participation, based on some unanswered questions about it.
:17 “our project is”
Councilman Bob Morgan sees the program as similar to a matching retirement program.
:09 “good investment”
Officials pointed out that the project is only a grant application at this point with no guarantee of being awarded funding.