On Tuesday, June 18, the Grand Island Area Economic Development Corporation (GIAEDC) joined Grand Island Mayor Roger Steele to announce the latest round of Build Grand Island funds being dedicated grow the city.

In total, the GIAEDC announced an additional $3.9 million worth of 0% revolving door funds are now earmarked to spur further residential development in the Copper Creek subdivision. Thanks to support from the city and the utilization of LB840 funds, the GIAEDC is providing the necessary cash match to secure the funding from the State of Nebraska’s Department of Economic Development Rural Workforce Housing Fund.

“Grand Island continues to grow and prosper, and the Grand Island Area Economic Development Corporation takes it very seriously to find solutions to our housing struggles,” said GIAEDC President Mary Berlie. “As we grow, we need to have homes for our families.”

The Build Grand Island Program is at its two-year mark, and has already raised a total of $5.2 million in funding for economic growth. Berlie said the funds are also cyclical, as they get recycled and put back into the community to spur residential development. In fact, in 2023 alone, Grand Island posted $228 million worth of building permit valuations, and the city is expected to improve on that figure in 2024.

“We’re growing rapidly,” said Grand Island Mayor Roger Steele. “We need workforce housing, and that’s what this is all about. We’re creating a place for our residents to live.”

For more information, please contact Communications Manager Spencer Schubert at spencers@grand-island.com.