Red Cliff Tax Credit Development Grand Opening Ceremony Takes Center Stage

WHEDA®, local leaders celebrate with tribe and tenants at newly built tax credit homes

Ashland – The Red Cliff Indian Reservation and its surrounding community had much to celebrate this morning with the highly anticipated grand opening ceremony for Red Cliff Housing Development Phase I, LLC. The development, which opened four of 24 single-family rental homes located on Red Cliff Band Tribal Trust Land in Bayfield County’s town of Russell, attracted state and local housing leaders to speak at the event.

Among the leaders in attendance was Wisconsin Housing and Economic Development Authority (WHEDA®) Executive Director Antonio Riley, who applauded those who contributed towards the success of the project during a speech to attendees.

"WHEDA is proud to have contributed an affordable housing option to a deserving community like Red Cliff reservation," said WHEDA Executive Director Antonio Riley. "There was an overwhelming amount of support for the construction of this development from both the Red Cliff Tribe and Red Cliff Housing Authority (RCHA). Without their hard work and support, this day would not be possible."

Riley was visiting Bayfield County as part of Governor Jim Doyle’s Northern Tour, when members of the Cabinet tour Wisconsin’s northern counties.

In 2007, WHEDA provided $4.1 million in affordable housing tax credits and financing for the Red Cliff Housing Development. Upon completion, the development’s mix of single-family homes will consist of 2 two-bedroom, 13 three-bedroom, and 9 four-bedroom homes. All units are scheduled for completion and occupancy by Winter 2008.

Other sources of the development’s funds include $541,542 from the Department of Commerce, $200,000 from Federal Home Loan Bank of Chicago, and a construction loan of $750,000 from Chippewa Valley Bank.

Each unit in the development is an open floor plan with a variety of amenities and features including central heating and air, dish washer, refrigerator, washer and dryer, patio, and two-car garage.

The homes are built to be energy efficient, and all of the units were constructed with ENERGY STAR-rated windows and appliances. Each unit is also positioned to maximize natural lighting and solar heat.

In order to minimize the construction timeline of the development, the foundation was preassembled in the manufacturing plant and transported to the site for further assembly.

The development was the first tax credit housing project to be constructed by RCHA. Prior to the development’s construction, RCHA owned and managed 107 family and 10 elderly units in the Red Cliff Band Tribal Trust Land.

WHEDA is an independent state authority that works with lenders to provide low-cost financing for housing and small business development in Wisconsin. For more information on WHEDA's housing programs, call 1-800-334-6873 or browse this web site.