WHEDA welcomes applications for rural affordable workforce housing initiative

MADISON– The Wisconsin Housing and Economic Development Authority is now welcoming applications for the rural affordable workforce housing pilot.

A webinar to answer questions about the application process will be held July 24 at 1 p.m. Information about the initiative including the rural affordable workforce housing initiative plan and application documents can be found here; registration for the free webinar is available here.

The pilot will work with stakeholders from at least three rural communities to develop partnerships and processes that ultimately will benefit communities statewide. Participants at listening sessions organized by WHEDA cited many factors contributing to Wisconsin’s shortage of rural, affordable workforce housing including rising construction costs, limited developer interest due to the smaller scale of rural projects; aging housing stock; few affordable rental options; zoning, infrastructure challenges; and limited financing for new construction and renovation projects.

WHEDA’s rural affordable workforce housing initiative includes the pilot effort and supplemental financing tools designed to better serve rural communities by overcoming gaps in existing programs.

The July 24 webinar will cover the pilot application process including the need for communities to apply with a diverse team of stakeholders that demonstrate geographic, demographic, public and private collaboration. For those who are not able to attend, the recorded webinar will be posted to the webpage along with any needed updates to the FAQs. Applications will be due Aug. 31 with participating communities announced in early October.

For questions about the application process, email: ruralaffordablehousing@wheda.com. To keep up with information about the pilot and other WHEDA initiatives, sign up to receive emails here and follow us on Facebook, Twitter and LinkedIn.

ABOUT WHEDA
For more than 45 years, WHEDA has worked to provide low-cost financing for housing and small business development in Wisconsin. Since 1972, WHEDA has financed more than 75,000 affordable rental units, helped more than 133,000 families purchase a home and provided more than 29,000 small business and agricultural loan guarantees. WHEDA is a self-supporting public corporation that receives no tax dollars for its operations. For more information on WHEDA programs, visit wheda.com or call 800-334-6873.

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.