WHEDA Administers New Loan Products to Increase Affordable Housing Options

2024 competitive loan application funding

June 2024

January 2024

On June 27th, 2024, Governor Tony Evers announced the second round recipients for the Vacancy-to-Vitality, Infrastructure Access and Restore Main Street Loan Programs.

On January 31st, 2024, Governor Tony Evers announced the first round recipients for the Vacancy-to-Vitality Loan Program.

The next loan application cycle opens in the fall of 2024. Learn more by visiting the Infrastructure Access, Restore Main Street and Vacancy-to-Vitality product pages listed below.

Governor Evers has signed into law a Bipartisan Housing Legislation Package that will help expand access to safe, affordable housing for working families. WHEDA is administering four loan programs that will emerge from this housing legislation. The new products are critical to providing solutions to address the state’s housing crisis. Learn more about this $525 million investment in affordable housing here.

What Municipalities Need to Know about WHEDA’s New Loan Programs

WHEDA will administer the following four programs:

Infrastructure Access Loan

Assembly Bill 264, now 2023 Wisconsin Act 14; amended by Assembly Bill 1075, now 2023 Wisconsin Act 209:

Infrastructure Access competitive loan information

This competitive loan program allows a residential housing developer to apply for a loan to cover the costs of installing, replacing, upgrading, or improving public infrastructure related to workforce housing or senior housing. These costs are typically covered by the developer.

Restore Main Street Loan

Assembly Bill 265, now 2023 Wisconsin Act 15:

Restore Main Street competitive loan information

This competitive loan program allows an owner of rental housing to apply for a loan to cover the costs to improve housing located on the second or third floors of an existing building with commercial space on the ground level.

Vacancy-to-Vitality Loan Program

Assembly Bill 268, now 2023 Wisconsin Act 18:

Vacancy-to-Vitality competitive loan information

This competitive loan program allows a developer to apply for a loan to help cover the cost of converting a vacant commercial building to workforce housing or senior housing.