Dec 18, 2024, 7:27 AM CST
MADISON, WI- (WGBW) – Gov. Tony Evers and the Wisconsin Housing and Economic Development Authority (WHEDA), announced the latest results of competitive funding for the housing projects in the Vacancy-to-Vitality, Restore Main Street, and Infrastructure Access loan programs.
These programs were created by bipartisan legislation and supported by historic state funding provided by the 2023-25 biennial budget that provided one of the largest state investments in workforce housing in state history with a $525 million investment.
“Affordable housing is one of the issues I hear most about nearly everywhere I go, and it’s an issue that connects dots between some of the most pressing issues facing our state, from success in the classroom to folks joining and staying in our workforce to overcoming mental and behavioral health issues and substance misuse. Our efforts to secure one of the largest state investments in workforce housing in state history is a critical part of our work to expand access to affordable housing across our state,” said Gov. Evers. “During our administration, more than 17,000 affordable housing units have been built in Wisconsin, and these critical programs through our historic budget investments will help make sure we continue expanding access to affordable housing and build stronger communities across our state.”
Two projects in Northeast Wisconsin will receive awards.
The Plymouth Project in Sheboygan County will receive an Infrastructure Access Loan of about $3.4 million to support a project to add another 94 housing units to the community.
In Sturgeon Bay, The Cherry Lane project is eligible for a $160,000 Restore Main Street loan to rehabilitate housing on the second or third floors of an existing building with commercial space on the ground level. Once complete, that project will provide 8 additional housing units.
The announcement of these funding awards builds on longstanding efforts of the Evers Administration to expand access to safe, reliable, and affordable housing, which is a critical part of helping address the workforce challenges facing the state, support kids and families, and build healthier, stronger communities.
The awards in Northeast Wisconsin are only a part of a more than 9.3 million dollar investment supporting nine different affordable housing developments statewide.
According to a press release from the Governor’s office, Since 2019, over 17,000 affordable housing units and more than 26,000 housing units total have been built statewide. Of the over 17,000 units of affordable housing built, 967 units can be attributed to the Vacancy-to-Vitality, Restore Main Street, and Infrastructure Access loan programs.
WHEDA administers the Vacancy-to-Vitality, Restore Main Street, and Infrastructure Access loan programs, which are available for application semi-annually. To date, WHEDA has administered over $16.3 million of the available funding made possible through these innovative programs signed into law by the governor as part of the 2023-25 biennial budget.
“Since creating these products, we are contributing to the creation of 967 units in rural and urban areas for workers, their children, and our aging population who need a safe, stable place to live and thrive,” said CEO and Executive Director of WHEDA Elmer Moore Jr.
For further details on these awards and the other communities across the state who will benefit, click here.
