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202504772
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Last modified
8/26/2025 4:14:45 PM
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8/26/2025 4:14:42 PM
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DEEDS
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202504772
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202504772 <br />Project Subject to a Right of First Refusal: Yes <br />Term during which the Right of First Refusal may be exercised: 12 months <br />Name of Entity entitled to the Right of First Refusal: <br />Midwest Housing Initiatives, Inc. <br />Contact Information: Corey Vandewege <br />6940 0 Street <br />Lincoln, NE 68510 <br />Income Election Set -Aside for IRS purposes <br />Applicable Set -Aside Percentage: 40% <br />Applicable Income Percentage: 60% <br />Income Averaging Set -Aside (The average area median income designation of all units must be <br />60% or less): N/A <br />Targeted Rent Levels <br />10% of the total Qualified Units (3 units) will have overall rents affordable at or below 40 % of the <br />applicable area median income. <br />40% of the total Qualified Units (12 units) will have overall rents affordable at or below 50 % of the <br />applicable area median income. <br />Affordability Period <br />Required Number of Years: 45 Total Years (Compliance Period: 15 years plus Extended Use <br />period 30 years) <br />Qualified Contract <br />Qualified Contract Required Number of Years: N/A <br />Additional Targeting Commitments All commitments of the Owner (as set forth in the Application <br />and which are incorporated herein by reference), including, but not limited to the following: <br />Senior Housing (55+) <br />Supportive Services and Amenities Supportive Services and Amenities (as set forth in the <br />Application and which are incorporated herein by reference), for which points were awarded during <br />the scoring process: <br />Supportive Services: Total of 4 points Amenities: Total of 8 points <br />Other Signatories to the Agreement <br />Lender(s): Nebraska Department of Economic Development <br />Bruning Bank <br />4/23 <br />
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