Funding
Local non-profit 501(c)(3) committed to expanding affordable housing opportunities in Nebraska by utilizing grants and local donations.
HVB uses state funds, collected through Nebraska’s Documentary Stamp Tax, to build affordable workforce housing in eastern Nebraska. These funds are specifically set aside to address the shortage of entry-level homes, but accessing them requires careful planning, accountability, and partnerships.
Funding Process
Nonprofit Application & Management
As a nonprofit, HVB applies for and manages these state funds, adhering to strict accounting and reporting requirements. HVB oversees the entire process, from planning to completion, ensuring compliance and transparency.
Key Roles
- Developer: A member of the nonprofit who prepares the lot, selects the home design, applies for permits, and creates a working budget. Developers are capped at $10,000 in wages per home.
- Builder: Once preparations are complete, the builder manages the construction process, handling foundation work, framing, and subcontractor coordination. Builders are also capped at $10,000 in wages per home. For the first two builds, staff from Building Standards LLC will serve as builders, offering training opportunities to subcontractors.
Sustainable Funding Model
Once a home is complete, HVB sells it on the open market at market price, using a real estate company. Proceeds from the sale are reinvested to fund the next build. HVB’s nonprofit fees are limited to essential accounting and marketing costs.
Example Project Cost:
A 983 sq. ft., 3-bedroom, 2-bath home with a 2-car garage costs approximately $190,000 (excluding the lot).
Through this process, HVB efficiently uses available resources to create more affordable housing, strengthen communities, and promote financial stability for working families.