Expanding Affordable Housing in Wisconsin: The Launch of the Infrastructure Access Loan Program

In an effort to address Wisconsin's workforce and senior housing challenges, Governor Tony Evers and the Wisconsin Housing and Economic Development Authority (WHEDA) have unveiled the Infrastructure Access Loan program, a strategic initiative designed to support developers and municipalities across the state. This announcement follows the allocation of one of the largest state investments in housing within the 2023-25 biennial budget, totaling $525 million, aimed at enhancing the availability of affordable housing in Wisconsin.

Governor Evers expressed his enthusiasm for the positive change the Infrastructure Access Loan program is set to bring, emphasizing the significance of affordable housing as a cornerstone for workforce development and economic growth in the 21st Century. The program seeks to alleviate barriers to housing accessibility and affordability, recognized as key factors in attracting and retaining a robust workforce in communities statewide.

The Infrastructure Access Loan program is poised to make a tangible difference by offering financial assistance to cover the costs associated with public infrastructure projects related to residential developments. This includes installations, upgrades, or improvements that are crucial for the development of workforce and senior housing facilities. Eligible developers and municipalities can now apply for loans covering up to 20% of the total development costs at reduced interest rates, making the construction of affordable housing more financially viable.

Elmer Moore Jr., CEO and Executive Director of WHEDA, highlighted the program's potential to substantially reduce development costs that are often transferred to residents through higher rent or mortgage payments. This financial relief is especially critical in light of data from the Wisconsin Builders Association, which points to regulatory burdens adding an average of $93,000 to new home prices—a factor that significantly impacts housing affordability.

The Infrastructure Access Loan program is part of a broader legislative effort to enhance housing accessibility in Wisconsin, including the introduction of the Restore Main Street and Vacancy-to-Vitality loan programs. WHEDA has announced plans to accept applications for these programs on a semi-annual basis, aiming to distribute funds effectively to projects that demonstrate a clear benefit to affordable housing initiatives.

For those interested in learning more about these programs and the application process, additional details are available on WHEDA's official website. This suite of programs represents a forward-thinking approach to tackling some of Wisconsin's most pressing housing issues, offering a pathway to a more inclusive and economically vibrant future.