Nebraska Administrative Code › Topic - ECONOMIC DEVELOPMENT, DEPARTMENT OF › Title 86 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter 5 - Rules and Regulations Concerning the Administration of the Nebraska Affordable Housing Act › Section 86-5-001 - Administration

Current through June 17, 2024
These rules and regulations relate to administration of the
				  Nebraska Affordable Housing Act. Pursuant to provisions of Nebraska Revised
				  Statutes, §§
									58-701
				  through
				  58-711,
				  the following rules and regulations shall govern the procedures for
				  administration of the Nebraska Affordable Housing Act (the "Act").
001.01 Definitions
001.01A Community-Based Nonprofit-means a
				Nebraska based nonprofit organization that has or will be undertaking
				affordable housing projects, and has secured an IRS determination of 501(c)(3)
				or 501(c)(4) status.
001.01B
				Department-means the Nebraska Department of Economic Development.
001.01C Disability-means: actually having; or
				having a record or history of having had; or being regarded by a public entity
				as having-a physical or mental impairment that substantially limits one or more
				major life activity.
001.01D
				Eligible Activities-means the activities as set forth in Section 002 of these
				Rules.
001.01E Eligible Forms of
				Assistance-means loans, grants, subsidies, credit enhancements, and other
				financial assistance for community affordable housing projects, which are
				associated with projects or programs located in Nebraska.
001.01F Governmental Subdivision-means a
				county, city or village.
001.01G
				Infrastructure-means any affordable housing infrastructure which shall include
				streets, sewers, storm drains, water, electrical and other utilities (if
				commonly accepted as the developer's responsibility), sidewalks, easements and
				similar use rights thereof, as well as improvements necessary for the
				development of affordable housing units.
001.01H Low-Income Household-means income for
				a household which is at or below the following percentages of the area median
				income per the most recent United States Department of Housing and Urban
				Development (HUD) income limits:
(a) 120% in
				instances of home ownership activities under the Act; and,
(b) 120% in instances of rental housing
				activities under the Act. The HUD income limits are incorporated herein by this
				reference and available for access by interested parties upon request at the
				offices of the Nebraska Department of Economic Development,
				4th Floor of the Nebraska State Office Building, 301
				Centennial Mall South, Lincoln, Nebraska 68509. For the information of the
				reader, the HUD income limits are also available for viewing on HUD's national
				website. The specific webpage address (current as of the time of adoption of
				these Rules, but obviously subject to future change by HUD) is
http://www.huduser.org/portal/datasets/il.html
.
001.01I Program Income-means the
				income as set forth in Section 001.03 of these Rules.
001.01J Qualified Allocation Plan-means the
				plan as set forth in Section 003 of these Rules.
001.01K Qualified Recipient-means:
(a) a Nebraska governmental subdivision;
(b) a local housing authority,
				which means a 'housing agency' as that term is defined in the Nebraska Housing
				Agency Act, §§
											71-1572
				to
				71-15,168,
				Nebraska Revised Statutes (Reissue 2003);
(c) a community action agency for a Nebraska
				community;
(d) a community-based
				nonprofit organization for a Nebraska community;
(e) a neighborhood-based nonprofit
				organization for a Nebraska neighborhood; or,
(f) a reservation-based nonprofit
				organization for a reservation located in Nebraska; and,
(g) Qualified Recipient also includes a
				for-profit entity working in conjunction with one of the organizations listed
				in Section
				001.01K (a)-(f).
				Only an organization, not an individual, may be a Qualified Recipient, and no
				individual may receive a direct loan from the Affordable Housing Trust
				Fund.
001.01L Trust
				Fund- means the Nebraska Affordable Housing Trust Fund created pursuant to the
				Act, and money therein will be referred to as Trust Funds.
001.01M Very Low-Income Household-means
				income for a household which is at or below the following percentages of the
				area median income per the most recent United States Department of Housing and
				Urban Development (HUD) income limits:
(a)
				50% in instances of homeownership activities under the Act; and,
(b) 50% in instances of rental housing
				activities under the Act. The HUD income limits are incorporated herein by this
				reference and available for access by interested parties upon request at the
				offices of the Nebraska Department of Economic Development,
				4th Floor of the Nebraska State Office Building, 301
				Centennial Mall South, Lincoln, Nebraska 68509. For the information of the
				reader, the HUD income limits are also available for viewing on HUD's national
				website. The specific webpage address (current as of the time of adoption of
				these Rules, but obviously subject to future change by HUD) is
http://www.huduser.org/portal/datasets/il.html
.