Gov. Evers, WHEDA Announce Workforce and Senior Housing Infrastructure Funding Program
MADISON — Gov. Tony Evers, together with the Wisconsin Housing and Economic Development Authority (WHEDA), announced today that the Infrastructure Access Loan program is now available to developers and municipalities statewide.
Access to safe, reliable, and affordable housing is a critical part of helping address the workforce challenges facing the state. For years, Gov. Evers has proposed robust provisions and investments in expanding access to housing statewide, including it in the 2023-25 biennial budget. The governor was glad to have the Wisconsin State Legislature join him in supporting this critical effort, and the budget signed by Gov. Evers provides one of the largest state investments in workforce housing—$525 million—in state history, including measures to fund the Residential Housing Infrastructure Revolving Loan Fund and Program, now called the Infrastructure Access Loan program. This program was then later created in 2023 as part of a bipartisan package of bills Gov. Evers signed to utilize the funds allocated in the budget to help expand access to safe, affordable housing for working families.
“This new program gives us yet another opportunity to add much-needed affordable housing throughout the state by helping developers and municipalities reduce the cost of development—a price that is normally passed on to working individuals, families, and seniors in their rent or mortgage,” said WHEDA CEO and Executive Director Elmer Moore Jr.
The Infrastructure Access Loan program provides loan funding to cover the costs of installing, replacing, upgrading, or improving public infrastructure related to workforce housing or senior housing. These costs are typically covered by the developer. Borrowers can apply for up to 20 percent of the total development cost of residential housing and related infrastructure at a low-interest rate of three percent, or one percent in municipalities with a population of fewer than 10,000 or for senior housing.
Along with the Infrastructure Access Loan program, WHEDA is also administering funding for two other loan programs that have emerged from the workforce housing legislation—the Restore Main Street and Vacancy-to-Vitality loam programs. WHEDA will accept applications semi-annually, in the spring and in the fall, for all three loan programs until all funds are distributed to eligible affordable housing projects.
For additional information about the loan programs, please visit WHEDA’s website here.
An online version of this release is available here.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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