Altoro Leaves WHEDA for Federal Position

It was easy to call Joaquín Altoro a rising star in 2019 when he made the jump from Town Bank to the top job at the Wisconsin Housing and Economic Development Authority (WHEDA). Now he’s a shooting star headed to Washington D.C.

Governor Tony Evers announced Monday that Altoro submitted his resignation to take a job within President Joe Biden‘s administration.

Altoro, a Milwaukee resident, will serve as Administrator of Rural Housing Service within the U.S. Department of Agriculture’s Rural Development agency. He will oversee programs that provide loans and loan guarantees to develop rural housing. The USDA announced the appointment, not subject to Senate confirmation, Monday.

Evers appointed Altoro as CEO of WHEDA in 2019. Altoro served as head of the state’s largest affordable housing program, the low-income housing tax credit program, and director of a number of other economic development and housing support programs. The state agency has approximately 160 employees and $3 billion in assets.

“I’m appreciative and grateful that Gov. Evers appointed me to be WHEDA’s CEO and for the Evers Administration’s ongoing commitment to affordable housing. I have learned so much along my journey,” said Altoro. “Through WHEDA, I have been given the opportunity to start my next chapter at the federal level and continue the work to advance equity and economic opportunity for all types and sizes of communities.”

Prior to his time at WHEDA, Altoro served as vice president of lending at Town Bank.

“I’m incredibly grateful for Joaquín’s service to the people of our state, and I know his expertise and advocacy will serve our country well. We wish him and his family all the best,” said Evers.

The 47-year-old Altoro is a graduate of Cardinal Stritch University and Associates in Commercial Real Estate (ACRE) program. Altoro served on a number of boards and commissions, including the board of Milwaukee Area Technical College, the Milwaukee City Plan Commission and the National Council of State Housing Agencies.

WHEDA assistant deputy director May yer Thao left the organization in September to become president and CEO of the Minnesota-based Hmong American Partnership.