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Who We Are

WHEDA works closely with lenders, developers, local government, nonprofits, community groups and others to implement its low-cost financing programs.

Mission

WHEDA’s mission is to stimulate the state’s economy and improve the quality of life for Wisconsin residents by providing affordable housing and business financing products.


Vision

We provide the tools to help people and communities realize their hopes and dreams.


Values

Wisconsin Housing and Economic Development Authority staff maintain a strong set of values that guide us in meeting our mission: 
 

People: We need each other to be successful; we understand the value of teamwork. We respect individual differences and help each other reach our highest potential.

Personal Responsibility: All staff at all levels are accountable for their work and behavior.

Communication: An open exchange of information is the foundation of our achievements.

Customer Driven: Satisfied customers are a measure of our success.

Excellence: Excellence is the benchmark of each day's work.

Financial Viability: Financial stability and sustainable growth are necessary to meet our mission.

Ethics: Customer confidence and faith are the result of never compromising high ethical standards.

Innovation: Our success depends upon forward thinking, adaptability and risk taking.

Collaboration: Our success depends on our partners and our ability to help them succeed and meet their mission. 


WHEDA History

  • 1972
    The state Legislature enacts a law and appropriates $250,000 in seed money establishing the Wisconsin Housing Finance Authority (WHFA) to address Wisconsin’s aff ordable housing shortage.
     
  • 1973

    WHFA begins principle program operations following a favorable decision on constitutionality by the Wisconsin Supreme Court.

  • 1974

    First bond offering raises over $27 million for WHFA multifamily loans.

  • 1975

    WHFA is the nation’s first state Housing Finance Agency (HFA) to successfully market long-term bonds used to finance Section 8 multifamily housing developments.

  • 1976

    WHFA is the first HFA to have newly constructed units in occupancy.

  • 1977

    WHFA is the first HFA in the nation to coordinate the distribution of subsidized housing with the Department of Housing and Urban Development (HUD) and Farmers Home Administration.

  • 1978

    WHFA surpasses 12,000 units in total production across Wisconsin. Initiates requirement on all WHFA-financed developments to have units designed for the physically disabled.

    1978 Initiates requirement on all WHFA-financed developments to have units designed for the physically disabled.

  • 1979

    WHFA repays in full $250,000 in initial seed money appropriated by the state. Began rehabilitation and preservation program of historically significant buildings for multifamily housing.

    1979 Wheda Project Image

  • 1980

    WHFA issues first bonds for home ownership and single family housing rehabilitation loans. WHFA transitions from manual to computerized data processing to manage its housing portfolio.

    1980 Wheda Project

  • 1981

    WHFA receives $75 million in additional bonding authority for housing rehabilitation loans.

  • 1982

    Celebrating its tenth anniversary, WHFA sells $100 million in home ownership mortgage revenue bonds to provide a large-scale program for low- to moderate-income home buyers.

    1982 WHEDA Project

  • 1983

    In response to the recession, the Authority's mission expands to include business and agriculture financing, becoming the Wisconsin Housing and Economic Development Authority, or WHEDA.

  • 1984

    WHEDA surpasses $1 billion in total assets and awards its first grants through the WHEDA Foundation, Inc. to assist special needs housing providers in the acquisition or rehabilitation of housing units.

  • 1985

    WHEDA provides cash-strapped state farmers with financing through the Credit Relief Outreach Program (CROP), issues its first small business loan financed by tax-exempt industrial revenue bonds, and initiates the WHEDA Foundation Housing Grant program, making it the first HFA in the nation to administer such a program.

  • 1986

    WHEDA makes use of general reserves to develop the Linked Deposit Loan program, a financial resource designed specifically for women- and minority-owned businesses.

    1986 WHEDA Projects

  • 1987

    WHEDA is the first and only Wisconsin agency to administer the federal Low-Income Housing Tax Credit (LIHTC) program, which was created by the Tax Reform Act of 1986.

  • 1988

    WHEDA offers a first-of-its-kind Drought Relief Guarantee Program to help farmers get through financial hardship.

  • 1989

    Volume of single family mortgages surpasses the $1 billion plateau. WHEDA begins administering federal Section 8 rent vouchers.

  • 1990

    The Authority surpasses $2 billion in total assets.

  • 1991

    WHEDA offers a program to provide long-term financing along with federal Low-Income Housing Tax Credits (LIHTC).

    1991 WHEDA Project

  • 1992

    1992 WHEDA Project$2 billion in home ownership lending reached. Led nation by making over 4,500 single family home ownership loans financed by mortgage revenue bonds.

  • 1993

    The Wisconsin Preservation Trust is formed to help preserve Section 8 units as affordable housing.

    1993 WHEDA Project

  • 1994

    WHEDA is the first HFA to offer a 97% LTV mortgage with private mortgage insurance.

  • 1995

    State Legislature permanently extends CROP program for Wisconsin farmers.

  • 1996

    Introduction of FARM loan guarantee program helps farmers expand or make capital improvements. WHEDA makes 1,000th single family mortgage loan in Milwaukee’s central city.

  • 1997

    WHEDA, with the City of Milwaukee and investors, launches Lindsay Heights. The pilot project initiates housing development in a 110-block area in downtown Milwaukee while focusing on land utilization.

    1997 WHEDA Project

  • 1998

    WHEDA makes grants to provide temporary housing for Sheboygan flood victims and Door County tornado victims.

  • 1999

    More than $52 million closed in multifamily housing loans.

    1999 WHEDA Project

  • 2000

    The Authority solidifies its mortgage revenue bond and housing tax credit programs for years to come after winning significant legislation to increase caps for each program.

  • 2001

    2001 WHEDA Project“HouseKey Wisconsin,” the first online mortgage application system in the HFA industry, is launched.

  • 2002

    WHEDA has a record-breaking year, closing more than $100 million in multifamily loans, and creating more than 2,000 housing units.

    2002 WHEDA Project

  • 2003

    WHEDA increases its statewide African American mortgage lending by 27%.

  • 2004

    WHEDA is the first HFA to be awarded federal New Markets Tax Credits. This program fuels job creation and economic development efforts by promoting investment in low-income urban and rural communities.

  • 2005

    The Authority has a record year in single family home ownership lending with over $560 million in first mortgages.

  • 2006

    WHEDA invests over $4 million in Milwaukee's Metcalfe Park neighborhood in a new lease-to-purchase program. Construction of 30 homes increased home ownership in the neighborhood.

    2006 WHEDA Project

  • 2007

    For the first time, WHEDA awards LIHTCs to multifamily deals on tribal land ($19 million) and to supporting housing developments ($11 million).

  • 2008

    WHEDA launches an outreach website, WisconsinForeclosureResource.com, to help troubled homeowners.

  • 2009

    WHEDA receives over $139 million in American Recovery and Reinvestment Act resources to stimulate stalled LIHTC developments around the state.

  • 2010

    WHEDA becomes the first HFA to offer an exclusive mortgage product in partnership with Fannie Mae.

  • 2011

    2011 WHEDA ProjectWHEDA is awarded $22.4 million in State Small Business Credit Initiative (SSBCI) funds to administer new lending programs to help create private sector jobs.

  • 2012

    WHEDA commits $100 million to the Transform Milwaukee initiative to create jobs, restore output, address the foreclosed properties issue, and create sustainable solutions to rainwater run-off.

  • 2013

    WHEDA announces its Tax Advantage Mortgage Credit Certificate program which provides a tax credit of up to $2,000 to eligible first-time home buyers.

  • 2014

    WHEDA launches a no-fee Transform Milwaukee Guarantee program to help Milwaukee small businesses expand operations.

  • 2015

    WHEDA introduces the Veterans Affordable Loan Opportunity Rate (VALOR) program which offers a below market mortgage rate to qualified veterans.

  • 2016

    US Treasury awards WHEDA a Capital Magnet Fund grant of $5.47 million to help expand affordable housing.

    2016 WHEDA Project

  • 2017

    WHEDA and LISC form a groundbreaking partnership to bring small business financing resources to Milwaukee and rural Wisconsin as well as develop a statewide community revitalization strategy.