Developer

Research Communities in Area of Consideration

• Review Housing market studies for area under consideration
  • Momentum West Region Housing market studies- include link to
• Community websites
• Community Comprehensive plans 
  • The Wisconsin DOA  maintains an inventory of comprehensive plans and zoning ordinances https://doa.wi.gov/Pages/LocalGovtsGrants/Comprehensive-Planning-Library-of-Plans.aspx
  • Community websites generally post their comprehensive plans on their websites. See link under Local building and Zoning maps, codes and contacts for Aspiring Homeowners include link to

Review community housing affordability report and housing plans. The housing plan may be incorporated in the comprehensive plan for the community. Cities and villages with a population of 10,000 or more are required to prepare and make available a housing affordability report as described in Wisconsin Statutes 66.10013. Smaller municipalities may prepare similar reports at their discretion.

Connect with the appropriate local officials and Economic Development organizations to:

• Identify land available
• Ascertain zoning and ordinances
• Identify local incentives and program that may be applicable to your development
• Provide link to local officials- see link in aspiring homeowners sections
• Review the  Land use and Housing section under the Community section for addition ideas and thoughts to incorporate into the proposed housing development plan – provide link

Special Assessment and Special Assessment B Bonds

• This can be an excellent tool used in partnership with developers to finance the infrastructure needed for a housing development. 
• Wisconsin Statutes 66.0703 and specifically 66.0713 provides a means by which cities and villages can recover the costs of public improvements that benefit property owners through special assessments. Special assessment can be used to pay for street construction, sidewalks, curb and gutter, storm and sanitary sewer, water mains, and many other public improvements.
• See Special Assessment and Special Assessment B Bonds under the Community section – Provide link 

Tax Increment Financing

Blighted areas and mixed use TIDS may be an option to offset some of the development costs.  

• The TID  must  have not less than 50 percent, by area, of the real property within the district at least one of the following: a blighted area; in need of rehabilitation or conservation work, as defined in s. 66.1337 (2m) (a); suitable for industrial sites within the meaning of s. 66.1101 and has been zoned for industrial use; or suitable for mixed-use development. The improvement of the area is likely to enhance significantly the value of substantially all of the other real property in the district. It is not necessary to identify the specific parcels meeting the criteria; and the project costs relate directly to eliminating blight, directly serve to rehabilitate or conserve the area or directly serve to promote industrial or mixed-use development, consistent with the purpose for which the tax incremental district is created.
• For Blight designated TIDs Blighted area" means any of the following: 
  • An area, including a slum area, in which the structures, buildings or improvements, which by reason of dilapidation, deterioration, age or obsolescence, inadequate provision for ventilation, light, air, sanitation, or open spaces, high density of population and overcrowding, or the existence of conditions which endanger life or property by fire and other causes, or any combination of these factors is conducive to ill health, transmission of disease, infant mortality, juvenile delinquency, or crime, and is detrimental to the public health, safety, morals or welfare. 
  • An area which is predominantly open and which consists primarily of an abandoned highway corridor, as defined in s. 66.1333 (2m) (a), or that consists of land upon which buildings or structures have been demolished and which because of obsolete platting, diversity of ownership, deterioration of structures or of site improvements, or otherwise, substantially impairs or arrests the sound growth of the community. 
• TIDs declared as mixed-use type can incur project costs for lands proposed for newly platted residential property; the property may not exceed 35 percent by area of the TID. Under state law (sec. 66.1105(2)(f)3., Wis. Stats.), a municipality may only spend increment revenue on newly platted residential development in mixed-use TIDs if one of the following applies:
  • Density of the residential housing is at least three units per acre;
  • Residential housing is located in a conservation subdivision, as defined in sec. 66.1027(1)(a), Wis. Stats.
  • Residential housing is located in a traditional neighborhood development, as defined in sec. 66.1027(1)(c), Wis. Stats.

Access WHEDA Infrastructure Loan (Act14)

Purpose: Subordinate financing for the installation, replacement, upgrade, or improvement of the infrastructure (streets, sidewalks, water lines, street lights, etc.) portion of a workforce housing development, per competitive process. Eligible Borrowers are  multifamily and single-family developers that construct or create residential housing. Cities, villages, towns, counties and federally recognized American Indian tribes are not eligible (see Government term sheet) For details see https://www.wheda.com/about-wheda/legislative-priorities/bipartisan-housing-legislation-package/infrastructure-access-loan .