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Fremont council approves $450,000 forgivable award for 18-unit West Side housing project
Summary
The council approved a $450,000 LB840 performance-based forgivable award to Quad County Property Management LLC for a West Side development of nine duplexes (18 rental units), with forgiveness over a five-year term; vote was unanimous, 6–0.
The Fremont City Council approved a local-option economic development award of $450,000 to Quad County Property Management LLC for a West Side residential development on July 14.
Plan administrator Angie Olsen said the LB840 application covers nine duplex buildings (18 rental units) and that staff recommended a $450,000 award structured as performance-based forgivable funds, calculated at $25,000 per unit. Council asked about the forgiveness schedule; staff said the award is structured over five years, with one-fifth eligible each year and forgiveness evaluated at the end of the five‑year term.
Corey Christiansen of Quad County was present but there were no public objections recorded. Councilwoman Lathrop said she was initially skeptical but, after reviewing project details, supported the award.
The council approved the motion to award the funds; the transcript records the motion carrying 6 to 0.
What happens next: Staff will finalize contract language and performance metrics per LB840 procedures before funds are disbursed.
