VICTORY PARK VETERANS RESIDENCE
2020 Charles L. Edson Tax Credit Excellence Award in the Veterans Category
The Department of Housing and Urban Development (HUD) estimates that approximately 60,000 Veterans are without appropriate shelter on any given night, and that 1.4 million Veterans are at risk of homelessness due to poverty, lack of support networks, and dismal living conditions in substandard housing.
Victory Park Veterans Residence, developed by Burlington Capital, helps to address this need with 70 new affordable homes for very low-income veterans of the United States Armed Forces. The development is located on the beautiful 58-acre VA Historical Campus in Lincoln, which includes a VA hospital, providing residents with nearby access to health services in addition to services provided on-site.
On-site resident services, many of which are provided by community partners, include:
- Health services, such as counseling, dental care, Medicare/Medicaid enrollment or assistance, mental health services and vision services;
- Community building, such as bible studies, community dinners, fly fishing lessons, mentoring and peer support groups;
- Educational services, such as continuing education and a public library bookmobile;
- Wellness services, such as Alcoholics Anonymous meetings and cooking classes; as well as
- Employment services, legal services, a mobile animal clinic, and furniture and other household necessities.
The property also provides a large outdoor recreation area and a community room. With a city bus stop on the property, the campus is also located near a grocery store and employment opportunities.
Victory Park Veterans Residence was made possible through the Low-Income Housing Tax Credits (Housing Credit), awarded by the Nebraska Investment Finance Authority and syndicated by Midwest Housing Equity Group, resulting in nearly $7 million in equity. Permanent financing was provided by Horizon Bank, and the Local Initiatives Support Corporation provided a project grant. All 70 units are also supported by either or both Veteran’s Affairs Supportive Housing (VASH) vouchers or Section 8 vouchers provided by HUD and the City of Lincoln Housing Authority.
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U.S. Senators Deb Fischer (R-NE) and Ben Sasse (R-NE)
Mitch Erdel, Legislative Assistant to Senator Deb Fischer, and Matt Stross, Tax Counsel to Senator Ben Sasse, presented the 2020 Edson Award to Victory Park Veterans Residence on behalf of the Senators at the AHTCC’s 2021 Fall Meeting and Charles L. Edson Tax Credit Excellence Awards on September 23, 2021 in Washington, DC. George Achola of Burlington Capital accepted the award.
Remarks from U.S. Senator Deb Fischer (R-NE)
In a congratulatory video, Senator Deb Fischer (R-NE) stated, “I would just like to congratulate Victory Park for the service they provide for our veterans,” calling the Edson award “one more way we can thank our veterans for their service and sacrifice that they have given to our country. Thank you to our veterans and congratulations to Victory Park.”
Remarks from U.S. Congressman Don Bacon (R-NE-2)
In a congratulatory video, Congressman Don Bacon (R-NE-2) shared, “I support the Affordable Housing Credit Improvement Act… it gives us a chance to make a difference throughout our whole country. Today we estimate that there are 37,000 homeless veterans, and we can make great progress here by getting this Act passed and put into law. It will help folks like Burlington Capital continue the good work that they’re doing… We want to serve our veterans, and we don’t want any veteran on the street.”