The Lincoln Community Foundation (LCF., www.lcf.org) recently awarded $850,000 in grants from its Affordable Housing Fund to seven organizations working to create and preserve affordable housing. These organizations include Community Development Resources, Family Service Lincoln, Habitat for Humanity Lincoln/Lancaster County, Lincoln Housing Authority, Nebraska Housing Resource, NeighborWorks Lincoln and South of Downtown Community Development Organization.
The purpose of LCF’s Affordable Housing Fund is to support the development of affordable housing to include the purchase, renovation and construction of single-family and multi-family, rental and owner occupied, housing that is affordable for low-, moderate- and middle-income families in Lincoln. Housing is defined as affordable when the annual housing cost does not exceed 30% of a family’s annual income.
The grants are being used in a variety of ways such as funding a portion of development costs, property acquisition costs, down payment assistance and funding for loan funds to, in turn, provide financing for housing development.
Eleven local banks also contributed to the Affordable Housing Fund including Cornhusker Bank, Exchange Bank, FNBO, Five Points Bank, Frontier Bank, First Interstate Bank, i3 Bank. Pinnacle Bank, Security First Bank, Union Bank & Trust, US Bank and West Gate Bank.
Lincoln Community Foundation, established in 1955, provides leadership and tools that connect donor generosity to local needs and passions. The Foundation has distributed more than $230 million in grants to nonprofit organizations that have improved the lives of thousands of residents. To learn more, visit www.lcf.org.