Facebook image
Skip navigation

Who We Are

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

Single Family Icon - WHITE
Single Family Housing

We provide low, fixed interest rate mortgages to individuals and families to purchase a home.

Economic Development

We support economic development with financing that puts more capital directly into businesses and farms.

Multifamily Icon - WHITE
Multifamily Housing

We offer favorable rates and terms to construct, rehabilitate and preserve affordable rental housing.

Foundation Grants Icon - WHITE
WHEDA Foundation

We provide grants to help improve the state’s housing for low-income residents.


Members of the Board


Executive Officers

Ranell Washington

Ranell Washington,

Partnership Development
American Family Insurance

Raynetta Hill

Raynetta R. Hill,
Vice Chair

Executive Director, Historic
King Drive Business
Improvement District

Jeffery Skrenes

Jeffrey L. Skrenes,

Housing Coordinator/Planner

City of Superior

Victoria Parmentier

Victoria Parmentier,

President, R.E. Management, Inc.

Green Bay

Other Board Members

Hon. Janet Bewley
Wisconsin State Senator

Hon. Kalan Haywood  
Wisconsin State Representative 

Diane House 
Economic Development Director,
Great Lakes Inter-Tribal Council Inc.
Lac du Flambeau

Missy Hughes  
CEO, Wisconsin Economic Development Corp.

Olivia Hwang 
Assistant Deputy Director
Wisconsin Department of Administration, Madison

Hon. André Jacque 
Wisconsin State Senator 

Hon. Todd Novak
Wisconsin State Representative

Brianna Sas-Pérez
Community Member



Letter from the Governor

Governor HeadshotA safe place to call home is essential to the health and prosperity of our kids and families, workers, and communities, and everywhere we go, we continue to hear that one of the greatest needs in Wisconsin is reliable, affordable housing. Affordable housing links business growth, job creation, and education, and it’s good for our workforce, kids and families, and seniors. That’s why, earlier this year, I was proud to announce that my administration provided an additional $32.4 million for affordable multifamily housing developments to fill financing gaps caused by rising construction costs, interest rate increases, and supply chain delays.

Working with WHEDA, this essential funding was provided directly to developers of multifamily housing projects that recently received housing tax credits. In total, this effort will help support 22 developments in 11 counties and will provide nearly 1,200 new affordable housing units, not only in urban settings but also in rural communities that struggle to provide housing for working families.

We also provided an additional $1 million to the WHEDA Foundation to double their grant resources to nonprofit housing providers that offer emergency shelter, transitional residences, and extremely low-income housing to our most vulnerable residents. Each year WHEDA sees the demand for these resources increase. In 2022, the WHEDA Foundation Housing Grant Program was able to help an additional 20 housing providers increase capacity and connect more people to critical resources that provide stability and well-being.

For 50 years, WHEDA has been an innovative leader and key partner in advancing affordable housing in Wisconsin. Equitable access to housing continues to be one of my top priorities. I look forward to building upon our work with WHEDA in the years ahead to support our state’s workforce and economy, to listen to the diverse voices and needs of Wisconsinites, and to provide opportunity and security for folks and families across our state.

Tony Evers


Letter from the Executive Director

Elmer Moore

In 2022, we started our 50th year of supporting aspiring homebuyers and developers across Wisconsin. From the beginning, we’ve focused on leveraging the power of partnerships because we can only effectively serve through collaboration. We’re Stronger Together so we’re again committing our work and vision toward achieving an equitable and prosperous future where people across Wisconsin have access to homes and economic opportunity.

We heard from affordable housing advocates including developers, lenders, housing groups, community leaders, elected officials, state agencies, Tribal Nations, healthcare providers, and many others about the ongoing challenges related to building, providing, and securing housing. The consequences of a lingering pandemic, inflation, rising construction costs, and interest rates made our work more difficult and more in demand. We listened to understand the distinct challenges of communities and are working hard to match our work to their needs.

We are relying more than ever on strengthening our partnerships to work with a lens toward caring for the place we call home – Wisconsin. The consensus is there is a strong, collective movement toward building an active ecosystem that supports housing equity as well as an understanding that affordable housing is the foundation for prosperity for all of us.

In this report, we are highlighting examples of WHEDA’s work with communities across our state. These are just a few of the thousands of stories adding to 50 years of impact. As we look to 2023, WHEDA will continue to leverage its mission, 50 years of expertise, and the insights of our partners and stakeholders. It will be important for us to listen, acknowledge, and use diverse insights to build a statewide plan for the next generation of affordable housing. Through this process, WHEDA will work hard to provide new resources and tools to help create more inclusive housing opportunities to help everyone’s well-being, support workforce readiness, and build stronger communities.

Elmer Moore, Jr.
WHEDA Executive Director and CEO



Single Family

Home: The Heart of the Family

Single Family

WHEDA homeowners Gary and Kathleen with their son, Adam in Colby, WI.

Change is difficult, especially when, after 25 years of marriage, you have to live a life of independence. That’s the story of Colby School District Secretary, Kathleen. In 2007, Kathleen was tasked with finding a new place to call home after many years of not having to worry about her living situation. The task of finding a new place to live was daunting to Kathleen; and because of that, she did not feel comfortable committing to homeownership right away and instead resorted to renting in Colby.

After nearly five years of living independently, Kathleen’s high school boyfriend, Gary, reached out to her in need of assistance. Gary was also going through a divorce, and given her own recent experience, Kathleen was able to help him with the necessary paperwork. The high school sweethearts continued to see each other and, in 2016, decided to marry.

Single Family

While the newlyweds rented a small home together in Colby, they hoped to eventually become homeowners. The couple had grown close with their neighbors. They learned from one of these neighbors that a house only two doors down from their current rental house was going to be put on the market. Kathleen and Gary thought this seemed too good to be true but decided to take a leap of faith and reach out to a local lender. The lender encouraged the couple to apply for a WHEDA loan and, shortly after, they were pre-approved. Kathleen and Gary moved into their new house in August 2017.

“We were over the moon. Homeownership was going to be affordable; we didn’t have to put money down; we were able to call a place ours in a safe and conveniently located neighborhood.”

Becoming homeowners came at the most opportune time. Shortly after their move, Gary was diagnosed with Crohn’s Disease. Even though this was a hard time for the couple, they remained thankful that Gary had a healthy, safe place to battle his sickness.

The couple is overjoyed to have a place of their own where they can host gatherings of family and friends. Entertaining was not a comfortable or convenient option for, Kathleen and Gary at their previous rental home.

“We now can host without worry. I love being able to have my family over for the holidays. We recently hosted a baptism for our granddaughter and held a work party in our home.”

Inspired by his mother and stepfather’s story, Kathleen’s son, Adam, became a member of WHEDA’s Single Family Sales Team in September 2022. Adam is thrilled to be helping more people, like his mother and stepfather, pursue the dream of homeownership.

“I am extremely grateful and proud of what WHEDA does. We are more than just making homes affordable for Wisconsin families. We are helping them find a safe place to recover when they are sick, create memories during the holidays, and host friends and families for years to come.”
- Adam, WHEDA Employee


Home of the Brave

The word ‘valor’ is defined as “great courage in the face of danger, especially in battle.” With support from Dane County, Lutheran Social Services of Wisconsin, and WHEDA, Gorman & Company (Developer) and Dry Hootch of America (Co-developer) brought the concept of the Valor on Washington Apartments to life to honor those who have obtained valor through serving our country.


Front entrance for the Valor on Washington Apartments in Madison, WI

Located on the 1300 block of East Washington Avenue in Madison, the former Messner Incorporated property was transformed into the country’s largest housing and service complex for Veterans and their families and opened in 2022. The six-story, mixed-use development houses 59 affordable two-, three-, and four-bedroom units, 50 of which target families whose household incomes range from 30% to 60% of the national median income. The other nine units are available at market rate. Additionally, ten apartment homes were set aside for households where one or more individuals have a physical or mental disability. All units at the Valor on Washington will eventually be 100% veteran occupied.

The development is within walking distance of parks, schools, and local businesses. It features covered parking, a private playground, a fitness studio, clubhouse, wheelchair accessible units, and in unit washers/dryers.


Dry Hootch, a non-profit organization staffed by and for Veterans, is located on the ground floor of the Valor. ‘Hootch’ is military jargon for a hut or safe place to sleep during combat. The term ‘dry’ denotes the organization’s mission to provide a social gathering place for Veterans that is free of alcohol or drugs. The organization operates like a coffee shop, a safe space where Veterans can go to connect with others and learn about available resources. Visitors have access to a community office, training rooms, and organized support groups. Lutheran Social Services provides supportive services to tenants including mental health counseling, employment services, and financial literacy.

The $18.9 million project was made possible by Dane County’s Affordable Housing Fund, the City of Madison’s Community Development Division, the Dane County Housing Authority, the Federal Home Loan Bank of Chicago, Associated Bank, Boston Financial, Walker Dunlop, and $1,023,714 in housing tax credits allocated by WHEDA in Spring 2019. These credits resulted in approximately $9 million in equity for the project.

The Valor on Washington is an important addition to the Tenney-Lapham neighborhood. This unique development honors the service of Veterans as well as their families by giving them a safe place to live, engage in the community, and adjust to life after serving their country.

WHEDA Foundation

Hope Among the Hmong


Eau Claire Area Hmong Mutual Assistance Association staff members

Whether it be replacing a roof, installing a new HVAC system or renovating an entire housing complex, The WHEDA Foundation exists to provide grant money to support maintenance projects such as these for organizations who provide emergency shelter, transitional residences, and extremely low-income housing for vulnerable community members facing complex needs.

One of the many organizations that the WHEDA Foundation has provided grant award money to is the Eau Claire Area Hmong Mutual Assistance Association (ECAHMAA), Inc. This organization was established in 1982 with the mission to empower Chippewa Valley Hmong-Americans to become socially and economically self-sufficient and feel empowered to achieve their full potential. ECAHMAA also provides direct and referral services to approximately 1,384 individuals annually.

In 1997, the ECAHMAA became a provider of safe and affordable low-income housing after acquiring their first rental unit property. Today, the agency owns an eight-plex, two duplexes, and three single-family homes which serve a total of 50 residents. All residents of ECAHMAA’S rental properties have access to the Association’s collection of holistic programs that are geared towards helping individuals and families to become self-sufficient.


During fiscal year 2021-2022, the WHEDA Foundation provided a grant award to the ECAHMAA which helped fully renovate the inside of their eight-plex located on the west side of Eau Claire. This eight-plex serves a total of 18 residents which predominately are made up of Hmong refugees and families. Residents of the development may also fall under one of the following categories: frail elderly, physically impaired or disabled, victim of domestic abuse, homeless family with children, or low-income.

This WHEDA Foundation Grant Award helped in improving the lives of the Eau Claire Hmong community by providing support for an updated, safe and affordable housing option to call home. Since 1985, The WHEDA Foundation has administered the Housing Grant Program and is responsible for receiving and administering housing grant funds on behalf of the Authority.

Housing Vouchers

From Vulner-able to Able

Housing Vouchers

Richard, Emergency Housing Voucher recipient, inside his new, affordable place he calls home.

Richard, a 30-year-old Green Bay man, had been homeless for several years when, in 2017, he received access to a housing opportunity through Rapid ReHousing in the form of an Emergency Housing Voucher. This voucher allowed Richard to move into an apartment in Green Bay and experience an upward progression in his life including the chance to pursue new opportunities, such as becoming employed at a local supermarket.

This was all possible because WHEDA partners with Wisconsin’s local U.S. Department of Housing and Urban Development (HUD) agents to administer the Housing Choice Voucher (HCV) Program. HCV programs include the Family Unification Program (FUP), Veterans Affairs Supportive Housing (VASH), and the recently added Emergency Housing Vouchers (EHV). Each helps extremely, low-income families find safe, sanitary, and affordable housing.

Housing Vouchers

Richard later aspired to move out of Green Bay to a smaller town. Richard’s desire became possible when he learned of WHEDA’s EHV program. As it turned out, the property management company he was leasing with in Green Bay had an apartment complex in Two Rivers that also accepted EHVs. Richard applied for an EHV and worked with WHEDA to get approved.

The EHV program, which was created through the American Rescue Plan Act (ARPA) of 2021, is targeted toward individuals and families experiencing or at risk of homelessness as well as other vulnerable populations. This program differs from WHEDA’s traditional Housing Choice Voucher programs because the administration and development procedures all occur in-house.

In addition to the voucher, Richard received a $2,500 stipend to address financial insecurities. Recipients can use the stipend to cover a variety of expenses that may otherwise make it nearly impossible to move. Richard put his stipend towards his security deposit and rent.

With assistance from WHEDA and the EHV program, Richard gained additional independence and moved with comfort to a location where he feels at home and can thrive.

“I always wanted to move out of Green Bay but was afraid to leave during the pandemic and start over. It is because of WHEDA that I had the opportunity to move out of Green Bay with ease,” said Richard.

The move to Two Rivers provided both housing and job stability for Richard. Within less than a month of moving, Richard started a position at a grocery store in Manitowoc and was promoted to assistant manager after only one month. He has now transferred to a grocery store closer to home. Richard is proud to share that he now pays his monthly rent without assistance. As a result of his independence, Richard plans to be off the voucher program in the very near future. Richard’s story shows the ability of WHEDA and the EHV program to help some of Wisconsin’s most vulnerable residents realize and achieve their hopes and dreams.

Workforce Housing

Planting the Seeds for Workforce Housing

A typical day in the life of a farm worker usually starts early and ends late. The work is difficult but necessary to feed our growing society. Wisconsin farm workers are essential to the food supply chain in our state and our nation; yet the pay for these jobs is minimal, averaging between $10 to $13 per hour, which presents challenges for those seeking housing in rural areas.


Affordable housing is vital to the quality of life for farm workers and their families. These individuals work extremely hard every day to support the $104 billion agricultural industry in Wisconsin. Darlington, located in Lafayette County, is a small community of 2,445 residents and is also one of Wisconsin’s leading agricultural counties with 9% of its workforce made up of agricultural workers.

With rental unit occupancy reaching 98% and the industry seeking to hire more workers, there is great need for additional affordable housing units. The partnership between Southwestern Wisconsin Community Action Program (SWCAP) and Michigan-based Cinnaire Solutions is actively addressing this need for affordable, quality housing exclusively for agricultural workers and their families.

The Meadows, which opened in October 2022, is a 32-unit complex of townhomes with a mix of two- and three-bedroom units. The new community room offers outreach programs including employment access assistance, legal aid, K-12 school communication, translation services, and social services. Looking to the future, the partners intend to offer even more to their residents with an on-site Head Start facility.

“Through the years, as many children of dairy farmers have chosen to leave the farm and pursue other careers, many dairy workers have come from Latin America to provide a better life for their families. The Darlington community has been very welcoming to the new workers and was a great partner with us,” said Chris Laurent from Cinnaire Solutions.

Upon entering a unit at The Meadows, it is clear that the development partners wanted to create a facility that honors the residents for their contributions to agriculture.

“We wanted to make sure that every part of the design and the décor represented the value of the people that will live here,” said Chris Laurent, Cinnaire Solutions. “The people who live here work hard to feed us and we felt strongly that we needed to provide them with high-end décor and helpful services.”

The pet-friendly housing units are furnished with energy-efficient appliances, large closets, and in-home washers and dryers — perfect for families. All units are reserved for residents earning 30% to 60% of the county’s median family income. Tenants must derive at least 40% of their household income from farm labor.

The Meadows is one of only a few of its kind in the United States. A $3 million U.S. Department of Agriculture Rural Development loan, a $900,000 award from the Wisconsin Department of Administration, and $3.8 million in tax credits from the WHEDA helped finance the project.


The Meadows townhomes in Darlington, WI


The Meadows grand opening.

Strategic Priorities

A New Home for WHEDA Employees


WHEDA employees outside the new Madison headquarters this summer.

WHEDA welcomed employees to its new Madison headquarters in 2022. Potter Lawson, Inc. and Ideal Builders brought the 92,000 square foot building to life on a vacant lot near the East Washington Avenue corridor. The employee experience was of the utmost importance in the design of the building. The five-story, LEED-certified, industrial-style building features an open floorplan, training center, exercise facility, outdoor patio, and rooftop garden.


A Holistic Approach to Rural Workforce Housing


Rural communities have unique housing disparities due to increased production costs, high rates of second-homeownership, infrastructure challenges, and misconceptions on affordable housing, among many others. This fiscal year, WHEDA continued to focus on its rural affordable workforce housing initiative which features financing tools that provide immediate resources along with community-led pilots to identify long-term housing strategies.

The community-led pilots are in three rural areas – Door County, Marinette County and Chequamegon Bay. Each pilot is in a different stage of the process. This important work will identify possible solutions to remove barriers for the development and rehabilitation of affordable workforce housing and create scalable solutions for other areas of the state. Once the pilot process is completed, WHEDA will be able to collect a full spectrum of data, measure the outcomes, and deploy the learnings to advance affordable housing access and development across rural Wisconsin.


Thriving Communities Support All


People with mental health needs, physical challenges and substance use recovery are among those facing great difficulties in accessing housing where they want to live, thrive, and proser. By connecting affordable housing with supportive services, WHEDA is helping the well-being of our families and our communities.

WHEDA continues to partner with CSH – a national leader in supportive housing – to provide training and tools to expand the supply of this much-needed housing. The collaboration offered a webinar series for developers and community leaders on the benefits of housing with services. A statewide survey was also conducted to understand Wisconsin’s supportive housing needs. Using the survey results, WHEDA launched a first-of-its-kind Wisconsin Supportive Housing Institute to increase supportive housing development across Wisconsin by training stakeholders on the planning and development process.

Access to safe, affordable shelter is fundamental to the sustainability of our communities. The WHEDA and CSH partnership is building a greater understanding of housing disparities and addressing institutional barriers that affect people facing homelessness, disabilities, and poverty.


Looking Back and Moving Forward



WHEDA Impact Since 1972



WHEDA by the Numbers

Fiscal Year 2021-22 WHEDA Investments

Single Family Housing

Households Served 1,918
Loans Serviced 25,494
Partner Lenders 133
Total Mortgage Lending $298,324,499
Down Payment Assistance $10,527,126

Multifamily Housing

Loans Closed 70
Total Units 1,657
Total Multifamily Lending $259,280,783
Total Housing Tax Credits Allocated $39,824,016
Total Units Supported with Housing Tax Credits 2,898
Construction Contracts Awarded To Emerging Businesses $91,199,177

Economic Development

Total Businesses And Farms Served 12
Total WHEDA Financing $2,518,910
Total Partner Lending  $2,830,600

WHEDA Foundation

Total Housing Providers Supported 54
Grant Funds Awarded $2,001,112
Total Communities Served 43
Beds/Units Improved or Created 1,764


WHEDA is not a state agency. We are a self-supporting public corporation that receives no state tax dollars for our operations. Revenues from the interest on loans and investments; loan origination and servicing fees as well as other fee income are used to support WHEDA’s operating costs and expenses. 

WHEDA has over 50 years of financial strength and commitment to improve housing quality and economic vitality in Wisconsin. Through our financing resources and industry partners we work to increase access to and choice of affordable housing for people in Wisconsin because a safe home is the foundation for prosperity. 

To learn more, view our audited financial statements below.

Statements of Revenues, Expenses, and Change in Net Position

Download the Statements of Revenues, Expenses, and Change in Net Position

Statements of Net Position

Download the Statements of Net Position