The Wisconsin Economic Development Corp recently awarded three Idle Site Redevelopment grants, including funds for an Elkhart Lake project.
The village of Elkhart Lake will use $200,000 in ISR grant funds to prepare a site for two housing developments, one with 50 rental units, affordable housing for seasonal workers as well as veterans and people with disabilities; and the other with 70 townhomes, with no income restrictions. The ISR grant will help the village cover demolition and infrastructure costs of a former county garage site.
“We’re a resort community with a lot of hospitality industries, so we’re hoping this will help a lot of those employees struggling to find places to live,” said Jessica Reilly, village administrator and clerk. “We don’t have a lot of apartments in the village. With these two apartment developments, we’re hoping to expand who can come here to live and work.”
Since the program started in 2013, the WEDC has awarded nearly $22.3 million in ISR grants for 47 projects expected to generate more than $167 million in capital investment.
“What we’re hearing from communities around the state is that housing is a key element of meeting our workforce needs,” said Missy Hughes, secretary and CEO of the Wisconsin Economic Development Corporation, the state’s leading economic development organization. “Smaller communities often face special challenges, such as putting together the needed financing. Public-private partnerships are often the solution, and WEDC is proud to provide these grants at a at a critical stage in the process so these projects can move forward.”
