Wisconsin HEDA: Wisconsin First State In Country to Sign MOU Beneficial to Affordable Housing Industry

Wisconsin is the first state in the country to sign a Memorandum of Understanding (MOU) with the US Department of Housing and Urban Development (HUD) and the US Department of Agriculture (USDA) Rural Development to eliminate duplicate inspections of locally subsidized affordable housing. The historic agreement was signed this afternoon at the 2011 Wisconsin Housing and Economic Development Authority (WHEDA)   Multifamily Housing and Economic Development Conference in Madison. Under the MOU, Wisconsin will participate in a pilot program designed to prevent duplicate inspections when rental housing projects are subsidized by more than one agency.

“WHEDA is delighted to, on behalf of the state of Wisconsin, participate in this endeavor that will alleviate an unnecessary burden on the affordable housing industry,” said WHEDA Executive Director Wyman Winston.

“Often times rental housing projects are funded by more than one agency in order to reach the lowest-income tenants and duplicate inspections are conducted. The MOU creates less regulatory burden. The winners will be developers and owners who can better concentrate on delivering housing resources to those in need, state and federal agencies that serve families, and of course, the residents of affordable housing,“ said Winston.

Agents and owners are facing increased costs for operating affordable housing and this program will reduce staff time and travel costs to prepare for multiple inspections. Involved agencies will also have the benefit of reducing costs associated with performing inspections. The new streamlined process is also expected to be less intrusive to residents.

Representing Wisconsin, Winston along with Wisconsin Department of Administration Secretary Mike Huebsch signed the MOU with HUD Midwest Regional Administrator Antonio Riley and USDA Rural Development State Director Stan Gruszynski at today’s conference that drew over 700 attendees.

WHEDA is a public body corporate and politic created in 1972 by the Wisconsin Legislature that provides low‐cost financing for housing and small business development in Wisconsin. Since 1987, WHEDA’s award of housing tax credits has contributed to the construction and rehabilitation of over 42,000 units of affordable housing throughout Wisconsin. For more information on the LIHTC program, visit www.wheda.com  or call 1-800-334-6873.