Waukesha Council reviews Habitat for Humanity $200K loan for Dominican Park development

The Waukesha Redevelopment Authority meeting on April 28, 2025, focused on the management and funding of affordable housing initiatives in the city. Key discussions included updates on various housing programs and the financial health of associated funds.

During the meeting, officials reported that the affordable housing development fund had received a significant influx of $937,000, with 75% allocated to the development fund and 25% to the affordable housing rehabilitation program. This funding is crucial for replenishing resources aimed at supporting housing projects in Waukesha.

The rental rehabilitation program currently holds approximately $337,000, with efforts underway to encourage participation from homeowners who have deferred loans. Officials noted that many loans have been outstanding for over a decade, accruing interest at a rate of 3%. The authority is actively seeking to transition these deferred loans into payment plans to improve recovery rates.

The affordable housing rehab program had faced challenges, leading to a temporary shutdown until new funding became available. With the recent financial boost, the program has been revived, now holding $247,000 for single-family homeowner rehabilitation.

Additionally, the meeting highlighted the storefront activation program, which has successfully committed all its funds by the end of the previous year. As repayments from loans begin to flow back into the program, officials expressed optimism about future projects that could benefit from these funds.

A notable point of discussion was the potential for collaboration with developers to address the ongoing need for affordable housing. Officials emphasized the availability of funds and various programs that could be leveraged to support new housing developments. They mentioned recent legislative changes that may allow for greater flexibility in funding combinations, which could enhance the city's ability to fill funding gaps for housing projects.

Looking ahead, the authority is evaluating upcoming opportunities for additional funding as existing tax increment financing (TIF) districts approach their closure dates. This proactive approach aims to ensure that the city can continue to support affordable housing initiatives effectively.

In conclusion, the meeting underscored Waukesha's commitment to enhancing its affordable housing landscape through strategic funding and collaboration, with plans for ongoing evaluation and adaptation of programs to meet community needs.