About GIAEDC

Build Grand Island

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The goal of Grand Island Area Economic Development Corporation (GIAEDC)’s Build Grand Island program is to leverage Rural Workforce Housing Funds (RWHF) from the Nebraska Department of Economic Development to assist area housing developers to revitalize, rehabilitate, and add to the housing stock in the Grand Island area. This goal will be met by utilizing Rural Workforce Housing Fund monies with a sense of urgency and vision for the future in mind.

The GIAEDC is the Fund Administrator.

Interested developers are asked to complete the Request For Proposal (RFP) form. The Build Grand Island Advisory Committee will review submitted RFPs and submit to the GIAEDC Board of Trustees. If and when the GIAEDC Board of Trustees approve a project, the project will be invited to complete a formal application.

For additional information, contact GIAEDC staff to discuss the Build Grand Island program.

President - 308-381-7500
Executive Vice President - 308-381-7500

Program Parameters

Geographical Service Area:
RFPs will be accepted for projects within the Grand Island metro city limits. Any developer/builder seeking funding for projects outside of this area will not be eligible to access Grand Island’s Rural Workforce Housing Funds.

Eligible Activities:

The intent of Grand Island’s RWHF is long range, continual investments in workforce housing projects. The eligible activities include:

  • New construction of owner-occupied spec housing;
  • New construction of rental housing;
    • If student or intern housing, applicant must submit a letter of commitment and partnership from educational institutions and employers participating in student or intern housing program
  • Substantial repair or rehabilitation of dilapidated housing stock, for which the cost to rehabilitate cannot exceed fifty percent (50%) of the unit’s assessed value; and
  • Upper story housing development in Grand Island’s Railside Improvement District.

Infrastructure development associated with workforce housing is an eligible use of the RWHF in association with the eligible activities, proportionate to the number of workforce housing units and subject to RWHF price limits:

  • $285,000 maximum cost for owner-occupied housing units
  • $215,000 maximum cost for renter-occupied housing units

The Grand Island RWHF projects may not receive National Housing Trust Funds, Federal Low-Income Housing Tax Credits, State Low-Income Housing Tax Credits, Community Development Block Grants, HOME funds or Nebraska Affordable Housing Trust Funds.

Qualified Activities:

The Grand Island RWHF qualified activities include, but are not limited to:

  • Purchase land & real estate;
  • Purchase existing building for rehabilitation;
  • Loan guarantees;
  • Loan participations;
  • Down-payment assistance to the developer;
  • Other forms of assistance designed to increase attainable housing stock, while reducing the cost of development; and
  • Forgivable loans and grants are allowed with RWHF. However, financing structures that provide for Build Grand Island funds to revolve in the rural workforce investment funds are preferred.

Ineligible Activities:

Any activity not specifically authorized under the Eligible & Qualified Activities are ineligible to be carried out with the Grand Island RWHF funds. This section further identifies ineligible activities:

  • Furnishing and personal property will not be considered an integral structure fixture including the purchase of equipment, fixtures, and motor vehicles;
  • Mobile homes, as defined by DED; Mobile homes mean a moveable or portable dwelling constructed to be towed on its own chassis, connected to utilities, and designed with or without a permanent foundation for year-round living. It may consist of one or more units that can be telescoped when towed or expanded later for additional capacity, or of two or more units, separately towable by designed to be joined into one integral unit;
  • Housing that receives National Housing Trust Funds, Federal Low-Income Housing Tax Credits, State Low-Income Housing Tax Credits, Community Development Block Grants, HOME funds or Nebraska Affordable Housing Trust Funds; and
  • Housing Administration costs.

Eligible Applicant Entities:

Persons or entities with a history of successful housing development will be eligible to apply to the Grand Island RWHF. The legal structure of eligible entities includes:

  • Sole Proprietorship
  • “S” Corporation
  • “C” Corporation
  • General Partnership
  • Limited Partnership
  • Limited Liability Company
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