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NIFA 2013 Annual Report

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Susan Pulec

on 29 April 2014

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Transcript of NIFA 2013 Annual Report

The

Heart

of

Nebraska

Beats Under a Roof

NIFA 2013 Annual Report
Fellow Nebraskans:

Attached is the Nebraska Investment Finance Authority 2013 Annual Report. The Report provides highlights of NIFA’s efforts to connect Nebraskans with resources from programs available for housing, agriculture and other basic economic development activities. The report has statistical as well as testimonial information in the form of a few short videos.

NIFA’s mission and purpose is to serve the long-term financing needs of our citizens through carefully administered, federally-authorized Single Family Housing Finance programs, Multi-Family Housing Tax Credit, bond finance programs and Beginning Farmer/Rancher programs. NIFA also provides technical assistance to Nebraskans in matters of needs assessments, long term finance for housing, manufacturing, agricultural finance and resources for basic community and economic development.

NIFA was created in 1983 as a quasi-governmental instrumentality of the State of Nebraska. It is important to note that NIFA receives no state- or federal-sourced administrative funding. Accordingly, NIFA’s Board and staff work together to carry out programs which enable NIFA to fund its operations and fulfill its mission while maintaining a strong financial credit rating.

In addition to our report on activities, a link to NIFA’s audited financial statements as of June 30, 2013, is at the end of this report.

Your understanding and support of NIFA is important to us. We are pleased to provide you with this information and welcome any opportunity to receive your comments or suggestions.

Sincerely,



Catherine D. Lang Timothy R. Kenny
NIFA Board of Directors NIFA
Chair Executive Director

SINGLE FAMILY PROGRAM
MULTI FAMILY PROGRAM
BEGINNING FARMER/RANCHER PROGRAM
OUTREACH PROGRAM
ABOUT NIFA
Total Counties served 71
Communities served 177
Since 1986, the Low Income Housing Tax Credit (LIHTC) program produced over
21,000
rental units Nebraskans call home
Victory Apartments serving veterans housing needs
Creating
rental
units, by raising private
equity and leveraging
other funds
397
Tax credits were distributed among
developments in
different communities
adding substantially to their housing resource
10
Approximately
$61.3 Million
in total development costs were
generated, providing construction
jobs and benefiting suppliers
Construction on
LIHTC projects
was completed in
2013 producing
Ongoing compliance
monitoring was
provided by NIFA for
13
498
units
Provided technical assistance and collaboration with resource providers using the award winning
CRANE
process to finance
161
rental units for special needs, community redevelopment, and preservation of existing affordable housing.
over
units
communities
in
10,000
100
In 2013, allocated:
$4.1 Million
in federal tax credits
64 Total Counties Served
to provide a database of rental housing that allows users to search for a rental unit by community or county in Nebraska.
http://www.housing.ne.gov
Continued partnership with
In 2013, NIFA financed over $2.3 Million in loans through private lenders at below market interest rates
Average loan amount:
Average interest rate
below conventional market rates
1.10%
Sponsored Governor's
Agricultural
Excellence Awards
- awarding
grants to 25 4-H Clubs
and 19 FFA Chapters
Spearheaded legislative change
efforts targeted at improving the
Beginning Farmer/Rancher program
Hosted website:
http://www.nebraskabeginningfarmer.org
Dedicated to providing information
beneficial to beginning farmers and
ranchers
Governor's Agricultural Excellence Awards presented to 4-H Clubs during UNL Extension's annual Premier Animal Science Event.
Held the 12th annual Housing Innovation
Marketplace conference which was
attended by more than
individuals
from
Nebraska counties and
states
400
49
20
Leveraging Private
Capital for Manufacturers
Released the 12th Annual "
Profile
of Nebraska: Demographics,
Economics and Housing
" providing current data and factors influencing the development, production, use and need for housing each of the 93 counties and 31 cities
http://tiny.cc/2014ProfileNebraska
Housing Study Grants were
awarded, impacting
with
in matching funds
communities
$131,000
$165,000
9
20
for a total of
In late April of 2013, NIFA announced the
Nebraska Dashboard
, an interactive companion to the Nebraska Profile that allows users to do comparative economic, demographic, and housing analysis among Nebraska’s communities and counties. From the launch in April until the end of 2013, there were over
1,400
185
8
users from
different cities
countries.
states and
40
http://www.westernes.com/Nebraska/
$700
40
$16
Million.
thousand to
businesses leveraging
Modern Asset Grant Program
The program provided
over
ABOUT NIFA
For more information on the programs of the
Nebraska Investment Finance Authority
visit our website
http://www.nifa.org
Or contact us at:

1230 O Street
200 Commerce Court
Lincoln, Nebraska 68508
(402) 434-3900
NIFA Board of Directors

Catherine Lang (Chair)
Director, Nebraska Department of Economic Development
Commissioner, Nebraska Department of Labor

Marlin Brabec, Licensed Real Estate Broker (Fremont)

Galen Frenzen, Agricultural Production (Fullerton)

Herb Freeman, Public at Large (Omaha)

David Gale, Investment Banking (Bassett)

Michael Maroney, Real Estate Development (Omaha)

Mary Jo McClurg, Housing Mortgage Credit (Lincoln)

Jeffrey States, Nebraska Investment Council (Ex-Officio Member)

Bobbie Kriz-Wickham, Nebraska Department of Agriculture (Ex-Officio Member)
If you would like to visit any of the websites listed in this presentation, feel free to go back and click on the hyperlinks
Financial Links:
http://tiny.cc/NIFA2013FS
Total dollar amount of mortgages
Age: 32

Household Income $52,387

Average household size: 2.14
RURAL AREAS:

Average purchase price
$96,840

Average loan amount
$93,412

Number of loans
817

Number of Military
Home Loans
43

Number of Homebuyer
Assistance (HBA) Loans
97
URBAN AREAS:

Average purchase price
$121,163

Average loan amount
$115,780

Number of loans
1,479

Number of Military
Home Loans
130

Number of Homebuyer
Assistance (HBA) Loans
130

Since inception of the program over
80,774
Nebraskans have purchased their homes with a NIFA loan
Average statewide loan amount:
2013 Program Information
Average statewide purchase price:
$112,508
Fellow Nebraskans:

Attached is the Nebraska Investment Finance Authority 2013 Annual Report. The Report provides highlights of NIFA’s efforts to connect Nebraskans with resources from programs available for housing, agriculture and other basic economic development activities. The report has statistical as well as testimonial information in the form of a few short videos.

NIFA’s mission and purpose is to serve the long-term financing needs of our citizens through carefully administered, federally-authorized Single Family Housing Finance programs, Multi-Family Housing Tax Credit, bond finance programs and Beginning Farmer/Rancher programs. NIFA also provides technical assistance to Nebraskans in matters of needs assessments, long term finance for housing, manufacturing, agricultural finance and resources for basic community and economic development.

NIFA was created in 1983 as a quasi-governmental instrumentality of the State of Nebraska. It is important to note that NIFA receives no state- or federal-sourced administrative funding. Accordingly, NIFA’s Board and staff work together to carry out programs which enable NIFA to fund its operations and fulfill its mission while maintaining a strong financial credit rating.

In addition to our report on activities, a link to NIFA’s audited financial statements as of June 30, 2013, is at the end of this report.

Your understanding and support of NIFA is important to us. We are pleased to provide you with this information and welcome any opportunity to receive your comments or suggestions.

Sincerely,



Catherine D. Lang Timothy R. Kenny
NIFA Board of Directors, Chair NIFA Executive Director

NIFA 2013 Annual Report

Note regarding the format of this year’s annual report.

We are pleased to provide you with the 2013 annual report of our statewide accomplishments. This annual report is completely digital and powered by Prezi.

The Prezi format is easiest viewed in FULLSCREEN mode. The FULLSCREEN icon is located in the bottom-right corner of the image box.

There is a grey bar at the bottom of the image box; in the CENTER of this bar will be two arrows. You will move through the presentation by clicking on the RIGHT arrow. If you want to go back, use the LEFT arrow. The web site links are not activated until you have viewed the full report.

A paper copy of the same report can be obtained at the NIFA website (http://www.nifa.org) or by contacting NIFA by email info@nifa.org or by phone (402-434-3900 or 800-204-NIFA).
Full transcript