A $16.7 million plan focused on affordable housing and economic development gained final approval from the Wisconsin Housing and Economic Development Authority (WHEDA) board on June 17, as members directed spending toward a rural affordable workforce housing pilot, financing for underserved markets and small business lending.
On June 16, WHEDA’s amended 2019-20 Dividends for Wisconsin Plan gained approval from the Joint Committee on Finance, a key step towards WHEDA board action to direct the funds into spending categories. Money for the $16.7 million plan comes from WHEDA’s own operations. The plan provides funding resources in the following categories:
- Closing cost assistance for WHEDA single-family mortgages;
- Multifamily housing gap financing;
- Small business and economic development loans; and
- Community grants and services.
