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Front Porch nonprofit awards loans and grants to spark more Omaha-area affordable housing

By: - June 1, 2023 6:33 pm

Front Porch Investments (Courtesy of Zac Gudakov on Unsplash)

OMAHA — Sixteen organizations collectively have been awarded $11 million in low-interest loans and grants to create more affordable housing in the Omaha area.

Front Porch Investments said that its latest round of “Development and Preservation Fund” recipients, announced Thursday, should generate 221 dwellings and help launch four new housing programs and four planning grants.

The nonprofit said it received 41 applications totaling $35.2 million in requests.

Meridith Dillon, Front Porch Investments executive director (Courtesy of Kamrin Baker)

The funding is made possible through a partnership that matches philanthropic dollars with American Rescue Plan Act (ARPA) funds. 

Awards include $10.1 million in low-interest loans, both short- and long-term, and $1.4 million in grants. 

A scoring committee includes representatives of the City of Omaha and local housing organizations. They look for programs that help households earning less than 120% of area median income and that reach seniors, at-risk youths and emerging developers.

“We received many strong applications, making this the most competitive round to date,” said Meridith Dillon, Front Porch executive director. “This partnership of ARPA and philanthropic funds for affordable housing continues to positively impact our community.”

Loan recipients:  

AI Investment LLC, $2 million

Brinshore Development LLC, $1.5 million

Holy Name Housing Corp., $3 million

Jendayi Frazer 50 Ventures LLC, $398,665

Lionhead Development LLC, $400,000  

Seventy-Five North Revitalization Corp., $1.47 million

Woodling Development Corp., $625,000

Grant recipients:  

Carole’s House of Hope Inc., $49,700 

Comunidad Maya Pixan Ixim, $196,270  

inCOMMON Housing Development, $30,000

Omaha by Design, $134,000 

Restoring Dignity, $417,459 

Southside Redevelopment Corp. (Canopy South), $88,400

Spark Capital, $243,750 

World Speaks, $121,928 

Youth Emergency Services, $139,819 

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Cindy Gonzalez
Cindy Gonzalez

Senior Reporter Cindy Gonzalez, an Omaha native, has more than 35 years of experience, largely at the Omaha World-Herald. Her coverage areas have included business and real estate development; regional reporting; immigration, demographics and diverse communities; and City Hall and local politics.

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