The City of Bloomfield has officially been awarded $500,000 from the 2018 Nebraska Affordable Housing Trust Fund to assist with the development of four new rental duplexes. The duplexes will provide eight living units to people of the workforce and senior housing.
There is a noticeable need for housing in the area and with Michael Food’s, previously known as Bloomin’ Egg, ready to add a great number of employees at their facility, the need for housing is even greater.
During a city council meeting held April 9, 2018, the council voted to authorize Mayor Phil Schroeder to sign the application for the grant. Last year, Bloomfield applied for the same grant but was rejected due to one of the sites being located in the floodplain. Changes were made resulting in this year’s acceptance.
This successful housing project application was the result of over two years of planning by the project partners as well as a large financial commitment by the two developers and project financing partners.
The project planning team has included leadership from the City of Bloomfield, Knox County Development Agency, and Northeast Nebraska Economic Development District.
Other participants in the housing planning meetings have included Michael Foods local plant representatives, Bloomfield Development Corporation, Bloomfield Community Foundation Inc., Bloomfield Community Schools, banks, real estate agency staff, housing developers and contractors.
The development of additional local housing options will no doubt help stimulate Bloomfield as a whole. Giving people moving into the area a place to live and even assisting in additional workforce recruitment which will increase the local population even further.
According to the city council meeting held in April, the grant administration estimated the project total to be $1.3 million. About $445,000 of the granted $500,000 will be split equally between the two developers.
Grant guidelines also state that there will be an affordability period of 10 years. For those 10 years, four out of the eight living units will be designated for income qualified persons. Rental rates will be fixed according to a chart. The chart calculates rent minus utilities.