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HUD Great Plains Regional Administrator Ulysses Deke gave a $20 Million check to Omaha Mayor and her planning staff. The funds given by the HUD’s Section 108 Loan Guarantee Program will increase the production of affordable housing in Omaha by lowering the cost of development in the city. The recipients of the CDBG Program are provided the ability to leverage annual grant allocation into low-cost bonds and loan guarantees to provide financing for economic development, infrastructure, housing, and public facilities. Communities can use funds to finance specific projects or launch multiple projects over several years. 

The city of Omaha is utilizing its HOME Investment Partnerships Program funds to stimulate private economic development in underserved areas and support affordable housing initiatives. Front Porch Investments, a nonprofit organization dedicated to promoting investment in affordable housing, is the city’s contract partner in this effort. They expect to receive loan applications from affordable housing developers in the coming months, to fund multiple projects aimed at increasing affordable housing in Omaha. As per the analysis done, Omaha has around 20,000 affordable housing units. The city’s federal loan guarantees are expected to increase the supply of affordable housing in the next few years.