The Wisconsin Housing and Economic Development Authority (WHEDA) issued an $156 million Housing Revenue Bond to finance rental housing developments currently in its loan closing pipeline.
The bond issuance is expected to help finance ten developments that will provide more than 800 units of affordable and workforce rental housing in Fitchburg, Madison, Milwaukee, Oregon, Oshkosh, Sturgeon Bay and Wausau.
All ten of the projects in the bond pool received federal housing tax credits. Eight projects were also awarded state housing tax credits in the 2020 cycle.
In addition to the housing tax credits, five projects will be securing federal historic rehabilitation tax credits while four of these five also will use Wisconsin state historic rehabilitation tax credits to help complete the projects.
The bonds will carry WHEDA’s general obligation. They are rated ‘AA’ by Standard & Poor’s and ‘Aa3’ by Moody’s.
