WHEDA innovates for customers, communities, economic recovery
April 08, 2020
The Wisconsin Housing and Economic Development Authority was created in 1972 to expand access to affordable housing and economic opportunity for people throughout Wisconsin.
To continue this important work during the COVID-19 pandemic, WHEDA is adapting and innovating to support low- to moderate-income home buyers, renters, affordable housing providers and other partners. While we are focused on meeting the immediate needs of our customers and communities, our extensive range of actions includes work to forge a successful recovery.
I’d like to commend our staff for their incredible dedication and resilience in adjusting our operations to meet these challenges while preparing for what lies ahead. We are extremely grateful for the contributions of every one of our employees.
We are also thankful for the collaboration of our partners to address affordable housing needs and support opportunities for economic growth. We are asking for your help to share information about changes to our products and services that aim to keep people in their homes, improve the chances for small business success and chart a course for the future.
Among other actions, WHEDA is:
- Working with its homeowners on an individual basis to keep people in their homes. This includes payment forbearance and in some cases, permanent loss mitigation options to bring the accounts current. Homeowners with questions or financial concerns are encouraged to contact a WHEDA adviser 1-800-562-5546 (option 2) or email servicing@WHEDA.com.
- Waiving origination fees for its small business loan guarantees through June 30, 2020 to reduce the costs of accessing capital. WHEDA is also suspending forbearance fees to help businesses work through paying existing bank loans that also have a WHEDA loan guarantee.
- Continuing information and outreach efforts to keep customers and community members informed and provide the flexibility needed to help finance economic recovery.
You can learn more about WHEDA's support and guidance for homeowners, renters, property manager and others through our FAQs. You can find information about WHEDA’s leadership on state and federal stimulus issues here. To keep up-to-date with WHEDA’s partnerships and innovative efforts, we invite you to follow us on Facebook, Twitter and LinkedIn.
WHEDA LENDS $30 MILLION FOR MILWAUKEE PROJECT
A 138-unit affordable townhome project by the Housing Authority of the City of Milwaukee is receiving $30 million in construction and permanent financing from WHEDA. The Westlawn Renaissance VI project features 57 buildings at the intersection of Silver Spring Drive and 66th St.
The project includes 123 affordable units for tenants whose income is at or below 60% of the area median income; construction starts this spring. This phase marks the next step in the Milwaukee agency’s multi-year redevelopment of Westlawn Gardens, bringing it closer to its goal of developing 958 new housing units by the end of 2022. Learn more about WHEDA’s financing tools for developers here.
For more than 45 years, WHEDA has worked to provide low-cost financing for housing and small business development in Wisconsin. Since 1972, WHEDA has financed more than 75,000 affordable rental units, helped more than 133,000 families purchase a home and provided more than 29,000 small business and agricultural loan guarantees. WHEDA is a self-supporting public corporation that receives no tax dollars for its operations. For more information on WHEDA programs, visit wheda.com or call 800-334-6873.
Contact: Jennifer Sereno, WHEDA Public Affairs, 608-770-8084, Jennifer.Sereno@wheda.com