The former Grand Island Veterans Home Campus is being renovated into affordable housing by White Lotus Group of Omaha.
The site is now called Liberty Campus.
As a HELP Foundation, White Lotus is seeking a HOME Investment Partnership Award of $ 500,000 from the Nebraska Department of Economic Development.
The award requires a public hearing on the property, held Friday at the Grand Island Public Library.
The funds will be used to rehabilitate the historic Anderson and Pershing buildings on the campus site at 2300 W. Capitol Ave.
The renovation will be done in three phases, Teresa Kile, director of community development at White Lotus, said on Friday.
First, affordable housing. Second, a possible college training center. Third, an assisted living facility and possibly a new YMCA site.
White Locus is currently focusing on the first phase, Kile said.
The project aims to use $ 800,000 in low-income housing tax credits, $ 800,000 in affordable housing tax credits, $ 2.9 million in historic federal tax credits, 1 million in historic state tax credits, $ 715,000 in tax increase financing, a conventional loan of $ 1.1 million and deferred developer fees of $ 445,000.