Called “Shot in the Arm for Housing,” the $172,000 from the Quality Growth Fund (QGF) which was approved by the North Platte City Council will be matched by DEVCO in its goal is to have the project completed by 2017. While the state requires community development funding be used for lower income families and individuals, the combination of community and private funds will also allow developers to build higher-priced homes.
Dan Mauk, president of the North Platte Chamber of Commerce and Development, which is overseeing the project, says the chamber will decide which developer receives QGF or private funds, depending upon the square footage of the homes.
Developers must commit to building at least four housing units with a minimum of 1,400 square feet per unit, a two-car garage and 1 3/4 baths. Modular units and duplexes need to be 1,200 square feet with a one-car garage and 1 1/2 baths. Builders will receive $4,000 per modular unit or duplex, and $8,000 per single-family home, but all applicants must show design plans as well as financial references. Mauk, noting he knows of two developers who have approached their lenders, said, “We expect to see quite a bit of action in the next two to three weeks.” ##
(Photo credit: Dickinson Homes-modular under construction)
