WHEDA Seeks Applications for $1.3 Million in National Housing Trust Fund Financing

The Wisconsin Housing and Economic Development Authority (WHEDA) is seeking applications for a total of $1.3 million in National Housing Trust Fund financing, with the intention of expanding the number of units available for households at or below 30% of the area’s median income.

Eligible projects include those that received 2020 or 2021 federal 9% or federal and state 4% housing tax credits. Federal 4% projects will be eligible to apply as long as WHEDA receives a Housing Tax Credit Application. 

Although the federal program allows states to use up to 10% of resources for homeownership-related programs, Wisconsin has opted to target its funds to rental-housing development and rehabilitation. Funding applications are evaluated on criteria including geographic diversity, affordability, priority housing needs and the use of other non-federal funding resources. The financing takes the form of low-cost, subordinated debt. There is no minimum dollar amount for financing requests.

Visit wheda.com/developers-and-property-managers/developers/national-housing-trust-fund to find more details, instructions and application-form links. Applications will be available until June 11, 5 pm. Learn more about WHEDA programs at wheda.com or by calling 800.334.6873.