Kallie Schultz Board Member | Official Website
Kallie Schultz Board Member | Official Website
Gov. Tony Evers and the Wisconsin Housing and Economic Development Authority (WHEDA) have announced the allocation of $36.6 million in housing tax credits to multifamily housing developers across the state. This funding aims to address the ongoing need for affordable housing, a significant concern in both rural and urban areas.
“The need for affordable housing continues to be one of the issues I hear most about as I travel across our state—from our most rural communities to the heart of our largest cities,” said Gov. Evers. “Having reliable, affordable housing affects our workforce, our economy, our kids in school, and a family’s ability to get ahead. That’s why I’m proud of our continued efforts to address these challenges and our partnership with WHEDA as we work to make sure Wisconsin has the housing we need to support the needs of all individuals and families.”
The awarded funds will facilitate 27 developments across 13 counties, resulting in 1,731 new affordable housing units. These units will cater to approximately 4,068 people based on Wisconsin's average household size. The demand for these credits was high, indicating a substantial need for such initiatives.
“People across Wisconsin deserve decent, stable housing,” stated WHEDA CEO and Executive Director Elmer Moore Jr. “Housing tax credits remain one of the most powerful tools available to developers to create more safe, affordable homes and strengthen communities throughout the state.”
Among these projects, 21 are new constructions while others involve rehabilitation or adaptive reuse efforts. Seventeen developments are family-oriented whereas ten focus on senior accommodations. Sixty-three percent fall under general funding categories with thirty-seven percent targeting rural and small urban areas.
WHEDA administers federal and state affordable housing tax credits in Wisconsin. These programs incentivize developers through tax credits rather than direct rental subsidies. In return for these incentives, developers commit to offering low- and moderate-income households access to reserved units for at least three decades.
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