6 Waukesha Homes Proposed By Habitat For Humanity

Waukesha WI

19 July, 2021

12:38 PM

Description

WAUKESHA, WI —The Waukesha Common Council will consider financial assistance to Habitat for Humanity to build six homes during Tuesday's meeting. The nonprofit organization is requesting tax increment financing funding, which is public financing used as a subsidy for redevelopment and infrastructure. The proposal would include the city contributing $220,000 as a forgivable TIF loan. The city would forgive $36,667 for each residential unit at the development site that is occupied before 2025. If all six residential units have not been occupied by Dec. 31, 2024, the developer would repay the remaining unforgiven portion of the loan with 1 percent interest, according to city documents said. Habitat for Humanity owns a parcel along White Rock Avenue and the six housing units would be built on it, the documents said. Habitat for Humanity owns a parcel along White Rock Avenue and the six housing units would be built on it. (City of Waukesha documents) The plan, detailed in the city documents, includes building three duplexes on the property and creating a condo association to own and maintain the common areas such as the driveway and storm water pond. "To offset the high costs of extending sewer and water to the site as well as building a storm water facility and extending the drive to the homes, Habitat for Humanity has asked for TIF assistance from the city," the documents said.