WHEDA Set to Announce $35 Million in 2021 Housing Tax Awards
MADISON – To continue addressing the shortage of affordable and workforce housing statewide, the Wisconsin Housing and Economic Development Authority will announce the award of some $35 million in federal and state housing tax credits awards on Tuesday, April 27 at 11 a.m.
Statewide demand for housing tax credits among developers seeking to build more affordable rental housing for workers, families and seniors continues to outpace the federal and state resources available in Wisconsin and the award process is highly competitive.
For the 2021 tax credit award cycle, the Wisconsin Housing and Economic Development Authority (WHEDA) received applications for 34 projects seeking $29.6 million in federal 9% housing tax credits to build 1,671 units available for low- to moderate-income renters. WHEDA also received applications for 20 projects seeking $16.2 million in state 4% housing tax credits and $11.9 million in federal 4% housing tax credits to build 1,542 affordable units.
Developments that receive affordable housing tax credits must meet high design and operating standards. Criteria include strong management, excellent development quality, demonstrated market need, provision of supportive services and amenities, proximity to economic opportunities, proper local zoning and community sustainability.
The awards will be announced via a live webinar. Register for the free event here: https://attendee.gotowebinar.com/register/1867385674366782989.
Find more information about the upcoming tax credit awards in the Qualified Allocation Plan. To keep up with information about WHEDA resources, follow us on Facebook, Twitter, and LinkedIn and sign up to receive emails here.
For more than 48 years, WHEDA has worked to provide low-cost financing for housing and small business development in Wisconsin. Since 1972, WHEDA has financed more than 78,000 affordable rental units, helped more than 135,000 families purchase a home, and provided more than 29,000 small business and agricultural loan guarantees. WHEDA is a self-supporting public corporation that receives no tax dollars for its operations. For more information on WHEDA programs, visit wheda.com or call 800-334-6873.