Affordable housing developers in Wisconsin have submitted requests for approximately $5.8 million in National Housing Trust Funds, outpacing the $1.3 million that is anticipated to be available this year.

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They are seeking the funds to support the development of 533 low-income and affordable workforce housing units in seven projects in Ashland, Brown, Dane, Fond du Lac, and Milwaukee counties, reported the Wisconsin Housing and Economic Development Authority (WHEDA), which administers the federal program in the state as well as federal and state housing tax credit programs.

“The National Housing Trust Funds fill gaps in the financing for the units that serve community members with extremely low incomes and often other challenges,” said WHEDA CEO Joaquín Altoro. “The low-income units are typically integrated in projects with affordable workforce housing, making these projects essential in supporting employment growth. We will be evaluating the applications in the weeks ahead on a competitive basis to maximize the community impact. We’ve not seen this level of demand in past rounds.”

Projects eligible for the National Housing Trust Funds include those that received 2020 or 2021 federal 9% or federal 4% and state 4% housing tax credits. The National Housing Trust Fund financing is intended to expand the number of units available for households at or below 30% of area median income.

Funding applications are scored based on criteria including geographic diversity, affordability, priority housing needs, and the use of other non-federal funding resources.

Click here to review the list of applicants and projects.