The Wisconsin Housing and Economic Development Authority (WHEDA) announced the creation of a special round of low-income housing tax credits (LIHTCs), part of which will fund a veterans housing development.
The agency has set aside $600,000 for a Veterans High Impact Project (HIP) that will address housing, employment, and/or counseling needs of vets, according to an announcement made by WHEDA and the Wisconsin Department of Veterans Affairs.
This is in addition to $850,000 in housing credits that the state has designated for WHEDA’s High Impact Project Reserve (HIPR) program. The agency created this program to fund a particularly impactful LIHTC development in 2013. The concept is to award LIHTCs to a project with strong economic development or redevelopment attributes, has significant community support, and/or has a tangible impact on job creation, retention, or training.
An application may be submitted for either the HIPR program or the veterans (HIP) credit but not for both, according to WHEDA. Applications are due no later than July 30. More information can be found at www.wheda.com/LIHTC.