WHEDA announcements

The Wisconsin Housing and Economic Development Authority (WHEDA) has announced the 2011 awards for the Low-Income Housing Tax Credit (LIHTC).  I blogged previously on the applicants.

The only development in Waukesha County to receive tax credits is Wilkinson Manor in Oconomowoc which is an acquisition & rehab that will target mostly people who are elderly.  The award of $573,582 will be for 76 units. Tom  Daykin at the Journal-Sentinel reported on Milwaukee awards here and here.

The one of the applicants from Waukesha County was Fox Chase Apartments in Eagle targeting the older adults which would've had 48 units (41 Low-Income) and it is classified as "on hold" in case more funding is available if one of the other applicants is unable to make their deal work.  They would also be eligible to apply for the next round of funding.  The same is true of Riverview Commons Senior Living which is a planned Residential Care Apartment Complex (RCAC) with 55 units (all but two low-income).

As you may have noticed, and I previously criticized, all those are serving people who are elderly, with no consideration for other people who are low-income.

In other news, WHEDA also announced the availability of $500,000 through the WHEDA Foundation. 

Beneficiaries of this program include: the homeless, runaway youth, alcohol or drug dependent persons, persons in need of protective services, domestic abuse victims, developmentally disabled, low income or frail elderly persons, chronically mentally ill, physically impaired or disabled, people living with HIV disease, and persons without access to traditional housing.