WHEDA Releases Key Information on New Workforce Housing RLF Programs
Earlier this year, the Legislature passed a package of workforce housing revolving loan fund (RLF) bills, which were ultimately signed into law by Gov. Tony Evers. The bills, all of which were strongly supported by WEDA, provide $525 million in RLF funds to help address Wisconsin’s housing shortage:
- 2023 Wisconsin Act 14 – Creates a residential housing infrastructure revolving loan fund program, allowing a residential housing developer to apply to the Wisconsin Housing and Economic Development Authority (WHEDA) for a loan to cover the costs of installing, replacing, upgrading, or improving public infrastructure related to workforce housing or senior housing.
- 2023 Wisconsin Act 15 – Creates a main street housing rehabilitation revolving loan funding program, allowing an owner of rental housing to apply to WHEDA for a loan to cover the costs of an improvement to workforce housing to maintain it in a decent, safe, and sanitary condition or to restore it to that condition.
- 2023 Wisconsin Act 18 – Creates a commercial-to-residential conversation revolving loan fund program under WHEDA, allowing a developer to apply for a loan to cover the costs of converting a vacant commercial building to workforce housing or senior housing.
- 2023 Wisconsin Act 17 – Makes various modifications to the Workforce Housing Rehabilitation Loan Program administered by WHEDA.
All four programs will be implemented and administered by the Wisconsin Housing and Economic Development Authority (WHEDA). Earlier this week, WHEDA released key information on the programs, including the anticipated timeline for all of the RLF funds. Please find additional information below:
