Wisconsin Builders Association Applauds Passage of Workforce Housing Package
PRESS RELEASE
For Immediate Release
Alicia Naleid, Director of Communications
(608) 242-5151 ext. 13
Wisconsin Builders Association Applauds Passage of Workforce Housing Package
June 15, 2023 – The Wisconsin Builders Association applauded the state’s Assembly and Senate for their work in passing five bills as part of a package that is poised to increase the supply of workforce housing in Wisconsin.
“Excessive and outdated regulations add over $93,000 to the final price of a new home, increasing the total by nearly 24 percent,” said WBA President Mike Howe. “Coupled with 75 percent fewer lots and 55 percent fewer new homes than pre-recession averages, volatile interest rates, and inflated costs of materials, these bills will go a long way in assisting a variety of challenges in the creation of workforce housing.”
A summary of the five bills are as follows:
Residential Development Infrastructure Loan Program – will create a loan program at the state level to fund infrastructure (street, water, sewer, sidewalks, etc.) for residential developments.
Main Street Residential Housing Rehab Loan Program – will provide low-interest loans for the rehabilitation of second and third story apartments over main level businesses.
Vacant Commercial to Housing Conversion Loan Program – will offer low-interest loans for the conversion or demolition of vacant commercial buildings to workforce housing.
Land Development, Residential Housing, Zoning Ordinances – will require political subdivisions to approve certain permit applications related to residential housing developments
Housing Rehabilitation Loans Awarded by WHEDA – will allocate funds to WHEDA to ensure qualified applicants are given their approved low or no-interest loans for the rehabilitation of certain residential properties.
“We worked extensively with our industry partners and thank the legislative housing leaders and authors for getting these bills written and passed, and now look forward to them being signed into law by Governor Evers,” said WBA Executive Director Brad Boycks.
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About the Wisconsin Builders Association
The Wisconsin Builders Association is a professional trade association comprised of 21 local associations dedicated to helping members build communities around the state. We advocate the interests of 4,000 home building industry members to keep housing affordable and accessible for Wisconsin families, Protecting the American Dream for over 70 years.