Wisconsin has awarded $12.5 million in low-income housing tax credits (LIHTCs) to fund 25 affordable housing developments across the state, announced Lt. Gov. Rebecca Kleefisch today.
The LIHTCs, which are distributed by the Wisconsin Housing and Economic Development Authority (WHEDA), will help create 1,293 units of affordable rental housing.
“Today’s tax credit awards will generate significant economic activity in Wisconsin,” said WHEDA Executive Director Wyman Winston. “The strong demand for WHEDA’s LIHTC program demonstrates the dedication and commitment of Wisconsin’s development community to provide safe, quality housing options.” WHEDA received 51 applications with nearly $28 million in requests for the 2015 LIHTC round.
Kleefisch announced the LIHTC awards in Burlington at Fox Crossing Apartments. Bear Development received $394,050 in tax credits to construct a 32-unit second phase of affordable housing for families at the Fox Crossing project.
“Affordable housing and economic development are critical factors in our ongoing efforts to grow the state’s economy,” she said.
Three developments in the Transform Milwaukee Area, a public-private initiative unveiled in 2012 to restore economic prosperity to the city and administered by WHEDA, received LIHTC awards. Other projects receiving awards are located in Appleton, Berlin, Chippewa Falls, Cudahy, Dodgeville, Fond du Lac, La Crosse, Lac du Flambeau, Madison, Oshkosh, Platteville, Racine, Spooner, Superior, Two Rivers, and Wisconsin Dells.
For a full list of the LIHTC awards, visit http://www.wheda.com/AboutWheda/PressRoom/Dynamic.aspx?id=4688.