A ribbon cutting was held in Valentine on Friday afternoon for two new homes built by B-Squared Fine Homes and utilizing Rural Workforce Housing Program funds through Valentine Economic Development and the City of Valentine. Lt. Governor Mike Foley attended the event on Trail Drive in the western part of Valentine. Two of the three homes constructed used the assistance from the Housing Program. Three local housing units were completed last year using the funds as well. The funds can provide contractors with 0% interest loans during construction of the projects, which is paid back when the property is sold. Funds can be used for either new construction or rehabilitation of existing units. The loan fund consists of about $300,000 including $100,000 from the City of Valentine.
Contractors interested in utilizing these revolving loan funds can contact Mike Burge at 402 376 6842. Central Nebraska Economic Development District handles the housing funds created by local sales tax funds, DED housing funds and Nebraska Investment Finance Authority. A big thank you to Judy Peterson who coordinates the funding.
Valentine was also approved for a $500,000 Affordable Housing Grant from Nebraska DED. It is hoped construction on at least 2 new homes can begin this spring using these additional funds.