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NIFA - Nebraska Investment Finance Authority
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Programs
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Program Purpose
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How the Program Works
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Transition to Homeownership
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CROWN Application
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Program Success





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CROWN
How the Program Works

A CROWN project owner selects residents who qualify under the CROWN program guidelines, which emphasize the long-term commitment aspect of CROWN. CROWN units must be targeted at households at or below 60% of area median income.

The leasing phase of the program is for a period of 15 years, which is the project owner's tax credit compliance period. Leases are for one-year renewable terms and require tenants to assume most of the property maintenance responsibility just as a homeowner would. The property manager retains control and responsibility of major maintenance concerns during the project's 15-year compliance period.

During the leasing phase, tenants are provided supportive services and education to work toward homeownership.

At the beginning of the leasing phase, residents sign a letter of understanding describing their opportunity to purchase the home upon expiration of the 15-year compliance/rental period.

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Nebraska Investment Finance Authority - NEW
200 Commerce CourtBullet1230 'O' StreetBulletLincoln, NE 68508
Phone: 402-434-3900Bullet800-204-NIFA (6432)
Fax: 402-434-3921BulletE-mail: info@nifa.org