Gibbon, Nebraska, Apr 04, 2011 -- USDA Rural Development Nebraska State Director Maxine Moul and staff presented a plaque in Gibbon to the Gibbon Centennial Manor Inc in commemoration of their more than 40 years in providing rural rental housing to Gibbon.
"As we celebrated Gibbon Centennial Manor Inc paying off their USDA Rural Development loan and their many years of service, we also celebrated our valued long term partnership with them. The apartment complex has proved vital in providing rental housing in rural Gibbon,” said Nebraska State Director Maxine Moul, USDA Rural Development.
Gibbon Centennial Manor Inc is a 16 unit rural rental housing unit that provides affordable housing to income eligible tenants. The complex is the oldest USDA Rural Development Section 515 operating apartment complex in Nebraska dating back to November 22, 1968. The complex was funded through the USDA Rural Development Multi Family Housing Direct Loan Program (Section 515). The original loan was for $148,320 over 50 years at 5.25% interest.
The purpose of the Direct Rural Rental Housing Loan Program is to provide financing to develop rental housing in rural communities for persons with very-low, low and moderate incomes.
For additional information in Nebraska, contact Paul Bartlett (308) 237-3118 ext. 1122 or email@example.com.