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WHEDA Administers New Loan Products to Increase Affordable Housing Options

 

More than 300 units planned for the first $3 million in funding

Read the press release
Access the application list

 

Governor Evers has signed into law a Bipartisan Housing Legislation Package that will help expand access to safe, affordable housing for working families. The Wisconsin Legislature made a bold and unprecedented bipartisan investment by funding the initiatives with a total of $525 million as part of the 2023-25 Biennial Budget. The four loan programs that will emerge from this housing legislation are critical to providing solutions to address the state’s housing crisis.

 

WHEDA will administer the following four programs:

Restore Main Street Loan

Assembly Bill 265, now 2023 Wisconsin Act 15:  

View application example and award plan for Restore Main Street here.

This competitive loan program allows an owner of rental housing to apply for a loan to cover the costs to improve housing located on the second or third floors of an existing building with commercial space on the ground level.

Vacancy To Vitality

Vacancy-to-Vitality Loan Program

Assembly Bill 268, now 2023 Wisconsin Act 18:  

View application example and award plan for Vacancy-to-Vitality here.

This competitive loan program allows a developer to apply for a loan to help cover the cost of converting a vacant commercial building to workforce housing or senior housing.

Infrastructure Access

Infrastructure Access Loan

Assembly Bill 264, now 2023 Wisconsin Act 14:   

Learn more about the Infrastructure Access loan program here.

This competitive loan program allows a residential housing developer to apply for a loan to cover the costs of installing, replacing, upgrading, or improving public infrastructure related to workforce housing or senior housing. These costs are typically covered by the developer.

Home Repair and Rehab

Home Repair and Rehab Loan (Home R&R Loan)

Assembly Bill 267, now 2023 Wisconsin Act 17:  

Learn more about the Home Repair and Rehab loan program here.

This loan program makes modifications to the Workforce Housing Rehabilitation Loan Program administered by WHEDA.

Questions?

View our FAQ's or email us at home@wheda.com.

 

Legislative Updates

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