Southeast Nebraska Affordable Housing Council, Inc. (SENAHC)

SENAHC Service Area Map

Mission Statement
To promote and facilitate the development of safe, decent and affordable housing for low and moderate income persons; to serve as a conduit through which financing, technical advice and other forms of assistance from private and public resources may be channeled to low and moderate income residents of Southeast Nebraska; and, generally to perform any and all activities necessary to enhance the overall quality and affordability of housing within the established service area of the corporation.

Organizational Background
SENAHC is a State chartered non-profit corporation, since 1993, and has been granted 501(c)(3) tax exempt status by the Internal Revenue Service.

The Corporation’s service area includes 8 counties inNebraska(Cass, Johnson, Nemaha, Otoe, Pawnee, Richardson, Saunders and Seward) within which there are a total of 78 incorporated municipalities.  The geographic area served represents 4,219-square-miles and includes a total population (municipal, 63,427/rural, 37,311) of 100,738.  The population of incorporated municipalities located within the service area ranges from the smallest at 28 to 7,228.

The corporation is governed by a 12- person Board of Directors representing the regional diversity of the several counties in the service area.

Project Funding Background
To date, SENAHC’s ventures into the provision of affordable housing units has focused on the following areas:

1.         Down Payment Assistance — A “conditional deferred loan” is available to assist qualified first home buyers as a soft second mortgage paired with a conventional primary home mortgage.  This program allows SENAHC to “fill-the-gap” between the purchase price and the amount approved under a participating financial institutions conventional loan.  This is a no interest loan to the home buyer which is fully repayable if the borrower sells or does not personally occupy the unit at any time.  This may be used for existing homes or new construction.  Project funding has been derived from the HOME programs and/or from SENAHC program income.

2.         Purchase/Rehab/Resale (PRR) — With this program, SENAHC works with a pre-qualified, first-time home buyer to identify an available property.  Once an acceptable property is identified, SENAHC purchases and rehabilitates the unit.  After completion of the first two phases of the process, the home buyer, who was pre-qualified for a conventional mortgage by a private   financial institution, closes that loan and the residential unit is purchased from SENAHC.  Generally, the purchase/rehab/resale program is coupled with the down payment assistance program.  Project funding has been derived from the HOME, Nebraska Affordable Housing Trust Fund and/or SENAHC program income.

3.         New Construction – With “for-profit” developers, SENAHC has partnered several projects involving new construction.  These projects include:

  • Independence Court in Seward, which is a 24-unit rental complex.
  • Hillside CROWN in Syracuse and Tecumseh.  6-units of rent to own in each community are rented for a period of 15-years, at the end of which time; the units will be sold to clients as Affordable Housing Single family homes.
  • Apple River CROWN in Nebraska City and Auburn.  10-units in NebraskaCity and 5-units in Auburn are rented for a period of 15-years, at the end of which time; the units will be sold to clients as Affordable Housing Single Family homes.
  • Goldenrod Village in Crete.  12-duplex units for rent to Elderly Clients within income criteria.