Recently, the Sherman County Economic Development Office and the City of Loup City completed Phase 1 of the John Subdivision which consists of six lots . Conveniently located just blocks from the City Schools and only steps away from Petersen Ballpark, home to two baseball diamonds and playground, the subdivision will provide more housing opportunities for residents and potential residents of Loup City. The project is unique in that all lots are FREE to any family or individual who builds upon that lot within a designated time frame.
The six houses built during Phase 1 will consist of three Workforce Homes and three Market Rate Homes.
Workforce Homes are income qualifying homes and prospective homeowners must meet income and asset restrictions.
Should the prospective homeowner comply with this criteria, they are eligible for $20,000 in downpayment assistance. Current interest rates are at historically low levels and now is an excellent time to take advantage of multiple incentives to become a new home owner.
Interested individuals should contact the Sherman County Economic Development Office at 308.745.5040 or email firstname.lastname@example.org to receive an application and learn more about the program. Please note that this will be a limited time opportunity, and those interested should begin the process as soon as possible.
Market Rate Homes
Market Rate Homes are available in the John Subdivision to those individuals who are interested in building their own homes but who do not qualify for Workfore Housing. These lots are also free!
The lots are available to anyone who can demonstrate the financial capability to build a home that will meet the John Subdivision covenants and those will be allocated on a “first come, first serve” basis. The deposit for these lots is $1,000 and will be given back to the homeowner once the home is built.
Please contact the Sherman County Economic Development Office at 308.745.5040 or development @shermancountyprogress.com
Note that all situations may vary and that any individuals with an interest should contact the Sherman County Economic Development Office to confidentially discuss their income situation to ensure eligibility or to discuss the feasibility of building a home.
John Subdivision Platt Map – Phase 1
Citizen’s Bank (Loup City)
Heritage Bank (Loup City)
Nebraska Investment Finance Authority First Time Home Owner Rate of 2.75%
Nebraska Investment Finance Authority Loans for Non First Time Home Owners
Free Lot Program
The free lot program has been very interesting and popular topic with media locally and nationally.