The Box Butte Development Corporation (BBDC) is actively deploying its Rural Workforce Housing Fund (RWHF), a substantial $1.125 million resource designed to boost housing availability in Alliance. This fund is already making an impact, with a housing rehabilitation project currently underway, demonstrating its immediate benefits.
Operating as a revolving loan program, these funds ensure sustainable, ongoing investment in local housing initiatives, all in accordance with the Nebraska Department of Economic Development’s Rural Workforce Housing Fund Program. This structure means that as loans are repaid, the funds become available again, ensuring long-term support for future projects. After initial repayment, these funds are also available throughout the county, not just Alliance. BBDC is currently providing low-interest loans to eligible developers, contractors, and property owners to facilitate the expansion and improvement of housing options within Alliance.
Eligible Projects
The RWHF can support a variety of housing initiatives, including:
Remodeling homes for purchase or rental (rehabilitation costs must exceed 50% of the assessed value). Our current work on a house rehab project is a prime example of this in action.
New home construction for sale or rent upon completion
Converting existing buildings into residential units.
Renovating or creating second-story housing in downtown buildings.
Ways Funds Can Be Used
The RWHF offers flexible financial support, and funds can be utilized in various ways:
Low-interest loans.
Loan guarantees.
Soft second loans.
As part of a loan package.
Down payment assistance (for homes built or remodeled using RWHF funds)
Hannah Robinson, Executive Director of BBDC, commented, “This program represents a significant advancement for Box Butte County. By implementing a revolving loan structure and already putting funds to use on projects like the current house rehab, we are not only addressing current housing deficits but also establishing a durable financial resource that will foster local development for the foreseeable future. We encourage other qualified builders and property owners to apply and take advantage of this opportunity.”
BBDC is actively seeking applications from qualified builders, contractors, and property owners interested in workforce housing investments. To learn more about the program or to apply, please contact Hannah Robinson via email at BBDCDirector@bbc.net or by telephone at 308-762-1800.
The RWHF is fueled by a significant $750,000 grant from the State of Nebraska granted in 2024, complemented by robust community contributions, including $300,000 from the City of Alliance in 2023, $20,000 from BBDC, $20,000 from Platte Valley Bank, $25,000 from Nebraska Bank, and $10,000 from Box Butte General Hospital in 2024.