Applications for the Development and Preservation Fund are not being accepted at this time. Stay tuned for information on future loan opportunities and a new application process, expected to be shared later this summer.

PROGRAM BACKGROUND

The Development and Preservation Fund was created in alignment with recommendations provided by the Omaha and Council Bluffs Area Assessment of Housing Affordability, Needs, & Priorities report (2021). As identified in the assessment, the broad goals of the fund are to:

• Provide gap financing for the development of new affordable housing, including mixed-income rental housing, the creation of affordable housing in areas near job centers and transit, and transformative "catalyst" projects in neighborhoods undergoing broader revitalization efforts
• Provide needed gap financing to preserve and improve the quality of at-risk dedicated affordable rental housing, as well as "naturally occurring" affordable housing properties in deteriorating condition or at risk of conversion to market rate

Additional investment priorities for the Development and Preservation Fund include increasing housing ecosystem capacity; increasing accessibility; increasing housing stability; expanding housing options; supporting equity and housing justice; supporting innovation and best practices; and supporting collaborative partnerships.

The first round of funding launched in August 2022 through a partnership between Front Porch Investments and the City of Omaha, who invested $20 million in American Rescue Plan Act (ARPA) funds that were matched by $20 million in philanthropic contributions. These funds were allocated across multiple funding cycles, with the second round of funding awarded in May 2023 and third in November 2023.

RESOURCES

Supporting Materials and Links

1. Submittable Instructions – navigating the online portal
2. FPI Priorities – resident, project, and property characteristics
3. GIS Mapping Tool – to identify QCTs and proximity to transit and employment centers
4. City Limits Map – to confirm if project location is within boundaries of the City of Omaha
5. Area Median Income (AMI) Limits Chart – effective June 15, 2023
6. What is a Planning Grant? – FPI blog
7. Small and Emerging Business (SEB) Directory/Search – City of Omaha Human Rights and Relations

Language Accessibility

We have installed a plug-in for language translation on our website, positioned at the top right of this page. Word versions of program materials can be shared upon request for independent translation.

If additional language assistance or accessibility supports are needed to apply, please contact our team at frontporch@omahafoundation.org. We proudly partner with World Speaks and Front Porch will cover the cost of pre-approved translation services. 

ARPA Funding Information^*

1. General Overview
2. Procurement Guidelines – for long-term loan projects that involve contracting/subcontracting
3. Affordable Housing How-To Guide – How to Use State and Local Fiscal Recovery Funds for Affordable Housing Production and Preservation (U.S. Department of the Treasury)
4. Compliance and Reporting Guidance – State and Local Fiscal Recovery Funds Guidance on Recipient Compliance and Reporting Responsibilities (U.S. Department of the Treasury)

*We suggest independent review by legal experts.