8-23-21 fdl low income housing project receives financial assistance

A Fond du Lac apartment project is one of three projects in Wisconsin that have been awarded a total of $1.3 million in National Housing Trust Fund financing by the Wisconsin Housing and Economic Development Authority.   The projects provide housing to extremely low-income elderly and disabled residents.  The projects previously received state and federal 4% housing tax credits administered by WHEDA.   The housing trust fund awards expand the number of units available to vulnerable residents with incomes at or below 30% of the area median income by addressing the financing gap between what it costs to build the units and rents that are affordable for the residents.  In Fond du Lac the Brook Street Lofts is receiving nearly $345,000 for the adaptive reuse of an industrial and commercial building for 62 units of family housing.  A total of 13 Housing Trust Fund units are set aside for residents at or below 30% county  median income.