Front Porch nonprofit awards loans and grants to spark more Omaha-area affordable housing

OMAHA — Sixteen organizations collectively have been awarded $11 million in low-interest loans and grants to create more affordable housing in the Omaha area.

Front Porch Investments said that its latest round of “Development and Preservation Fund” recipients, announced Thursday, should generate 221 dwellings and help launch four new housing programs and four planning grants.

The nonprofit said it received 41 applications totaling $35.2 million in requests.

The funding is made possible through a partnership that matches philanthropic dollars with American Rescue Plan Act (ARPA) funds. 

Awards include $10.1 million in low-interest loans, both short- and long-term, and $1.4 million in grants. 

A scoring committee includes representatives of the City of Omaha and local housing organizations. They look for programs that help households earning less than 120% of area median income and that reach seniors, at-risk youths and emerging developers.

“We received many strong applications, making this the most competitive round to date,” said Meridith Dillon, Front Porch executive director. “This partnership of ARPA and philanthropic funds for affordable housing continues to positively impact our community.”