Assembly Bill 194 proposes significant modifications to three housing programs administered by the Wisconsin Housing and Economic Development Authority (WHEDA): the Infrastructure Access Program, the Restore Main Street Program, and the Vacancy-to-Vitality Program. Key changes include increasing the maximum loan amounts for developers and governmental units, allowing tribal housing authorities to receive loans, and permitting projects on tribal lands. The bill also mandates that WHEDA allocate funds in a way that no region receives more than 12.5% of the total appropriated amount during the 2023-25 fiscal biennium. Additionally, it allows for the use of tax incremental districts and historic tax credits for eligible projects, which were previously prohibited.

The bill includes several specific amendments, such as raising the loan cap for the Restore Main Street Program from $20,000 to $50,000 per dwelling unit and allowing loans for mixed-use developments that include residential housing. It also modifies eligibility criteria for projects, including those in smaller governmental units and those converting vacant commercial buildings. Furthermore, the bill changes the requirements for governmental units to demonstrate cost reductions in housing and allows loans to be secured by corporate guarantees instead of solely personal guarantees. Overall, these changes aim to enhance housing development and accessibility across Wisconsin.

Statutes affected:
Bill Text: 234.66(1)(g)2, 234.66, 234.66(1)(g)3, 234.66(4)(a)7, 234.66(4)(c)2, 234.66(5)(c), 234.66(5m)(b), 234.661(1)(b), 234.661, 234.661(1)(c)5