WHEDA: Set to announce $35 million in 2021 housing tax awards

MADISON – To continue addressing the shortage of affordable and workforce housing statewide, the Wisconsin Housing and Economic Development Authority will announce the award of some $35 million in federal and state housing tax credits awards on Tuesday, April 27 at 11 a.m.

Statewide demand for housing tax credits among developers seeking to build more affordable rental housing for workers, families and seniors continues to outpace the federal and state resources available in Wisconsin and the award process is highly competitive. 

For the 2021 tax credit award cycle, the Wisconsin Housing and Economic Development Authority (WHEDA) received applications for 34 projects seeking $29.6 million in federal 9% housing tax credits to build 1,671 units available for low- to moderate-income renters. WHEDA also received applications for 20 projects seeking $16.2 million in state 4% housing tax credits and $11.9 million in federal 4% housing tax credits to build 1,542 affordable units. 

Developments that receive affordable housing tax credits must meet high design and operating standards. Criteria include strong management, excellent development quality, demonstrated market need, provision of supportive services and amenities, proximity to economic opportunities, proper local zoning and community sustainability. 

The awards will be announced via a live webinar. Register for the free event here: https://attendee.gotowebinar.com/register/1867385674366782989

Find more information about the upcoming tax credit awards in the Qualified Allocation Plan. To keep up with information about WHEDA resources, follow us on FacebookTwitter, and LinkedIn and sign up to receive emails here.