The development must fulfill the following:
 | A developer must have experience in the development of at least two commercial properties. Developers would not need to occupy any portion of the property, however, some component of commercial utilization is required; |
| The development must be located in an urban neighborhood in Wisconsin; and |
| The development must result in the creation or retention of jobs. |
Job creation and retention will be considered when deciding if a guarantee request is approved. WHEDA does not have a formula that requires a specific number of jobs be created for dollars borrowed; however, projects that result in a high ratio of jobs created to dollars borrowed will be looked upon more favorably than projects with a low ratio.
Once the requirements listed above are met, the following types of projects are eligible:
| Developing, constructing or rehabilitating commercial real estate, including mixed-use properties, where a business occupies a portion of the building |
Ineligible developments include:
| Community based residential facilities |
| Adult entertainment businesses occupying a portion of the development |
| Tenants who have more than 1/3 of gross receipts from gambling |
| Tenants who have more than 3/4 of gross receipts from alcohol sales |
| Developments where the developer owes past due child support |
Loan proceeds may be used for:
| Land |
| Buildings |
| WHEDA application fee and closing fee |
| Soft costs (i.e., architectural fees, appraisals) |
| Refinancing existing debt that does not exceed 75% of the WHEDA guaranteed loan |
| Intangible assets |
| Loan origination fees (except WHEDA closing fee) |
| Any project costs, other than pre-development costs, incurred before a complete application or Intent Form (Form 2) is received and acknowledged by WHEDA |
| Transactions where a Lender: |
1. Has taken title to a business, or the fixed assets of a business, as a result of bankruptcy or foreclosure proceeding; or
2. Is at risk of taking title to a business, or the fixed assets of a business, as a result of bankruptcy or foreclosure proceeding
It is the Lender's responsibility to make the following assurances when evaluating an application for participation in the Neighborhood Business Revitalization Guarantee.
| The Borrower is unable to obtain conventional financing at terms similar to those provided through the Neighborhood Business Revitalization Guarantee. |
| The Lender believes that, if the Borrower received a Neighborhood Business Revitalization Guarantee, the Borrower's assets, projected cash flow and managerial ability are sufficient to preclude voluntary or involuntary liquidation before the end of the loan term. |
