Wisconsin Housing and Economic Development Authority Executive Director Elmer Moore Jr. announced that multifamily housing developers statewide will soon receive $47.8 million in competitive Housing Tax Credits, projected to create housing for approximately 5,000 Wisconsinites.
In total, 35 developments in 15 counties — including Calumet, Winnebago and Door — will provide or preserve 2,128 new affordable housing units in 26 communities across the state struggling to provide housing for working families.
Of the total projects receiving HTCs, 28 projects are new construction, with the remaining projects being rehabilitation or adaptive reuse. Twenty-four developments are designed to accommodate families, and the rest are suited for seniors.
Since 1986, WHEDA has awarded more than $644 million in Housing Tax Credits.
The programs provide tax incentives through the Internal Revenue Code and the Wisconsin Tax Code that encourage developers to create affordable housing. In exchange for tax credits, developers agree to reserve housing units for low- and moderate- income households for at least 30 years. A
Projects that received funding include:
- BOREALIS, Menasha, Calumet County, $1.5 million, 53 units
- COLUMBIA CORNERS, Sturgeon Bay, Door County, $1.3 million, 60 units
- PARKVIEW APARTMENTS REDEVELOPMENT PHASE 2, LLC, Brillion, Calumet County $381,991, 24 units
- TECUMSEH LANDINGS. New Holstein, Calumet County, $971,727, 40 units
- THE XCHANGE FKA THE EXCHANGE, Neenah, Winnebago County, $1.21 million, 50 units
