[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6485667,"mediaKeyId","5596172-fbf51732e7cf78021d01915e64c55a83","parentId",5596172,"title","Redevelopment Authority approves $720,000 loan for 36‑unit Meadow Lane mixed‑income development","audioSeconds",2431,"startMs",512045,"endMs",2943100,"viewUrl","/Search/View?dp=1&key=5596172-fbf51732e7cf78021d01915e64c55a83&start=512&end=2943","thumbnailUrl","https://assets.pipeline.soar.com/5596172-fbf51732e7cf78021d01915e64c55a83/thumbnail_512045.jpg","articleUrl","/articles/6485667/Waukesha-City/Waukesha-County/Wisconsin/Redevelopment-Authority-approves-720000-loan-for-36unit-Meadow-Lane-mixedincome-development","mediaUrl","https://secure.pipeline.soar.com/6485667-32eda4d78cf097aff189d68b64869c15/orig.mp4?Expires=1770440170&Signature=H8~4MwDCcYHowNFwaOk~CEDfcKYadwX6v-eUvYJEbkHpjY2el2RboVGXQ~u10gcUsJI4LsDDfShHxXPSuEQ~hpL99Zky5u5rDgyKeHTdVh9wEVlqVmf3R4Mvbj~3~YRERsgAAfc5K1KhACFxyAGbwRapKKemAOU1iqC3bX8jSfWZIOvB9ZUuCxTvAubzNZ74keCl3G7PrdbK1AjzBHb4ZSpUHOyZfNhrykXygeU0LM0xiLAYciC20JplNGl7NWk4ObtGJBC8Fm10KTVZF~xXP8uvkewI1eEPRUdxNwkFBLB9EilWBRmTFxvlKXRefB8Zae8Gq~IjuNaUOptDFvqoVw__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Waukesha, WI","date","2025-08-18T00:00:00Z","article","The Waukesha City Redevelopment Authority approved a $720,000 loan from its Affordable Housing Development Fund to support DuFec Construction’s proposed 36‑unit development on Meadow Lane in the Silverneal area.

The loan, approved by a 5–0 vote with two abstentions, carries a 1 percent interest rate, a 30‑year repayment term and allows interest‑only payments during the construction period. The authority directed staff to record a deed restriction to preserve the project’s affordable units for the term of the loan.

The vote followed a presentation by developer Mike Dufek of DuFec Construction. Dufek said the project would include a mix of incomes and unit types and that the financing package remains tight: “Even with $720,000 at 1 percent and $1,100,000 from HUD at 1 percent, it’s still barely cash flows,” he said. Dufek said the site is under contract for roughly $440,000, or about $13,000 of land cost per unit, and that the full project budget is roughly $8.4 million.

City staff and the developer described the capital stack for the project as layered. Staff said the developer expects to use a construction loan from the Waukesha County Center for Growth (the Grow Fund) plus HOME funds, with the city loan making up a portion of the financing gap. On lien priority, staff said the Grow Fund would likely be a construction lender, the bank would be first in line, the Grow Fund second, the city third and HUD HOME funds last, although exact lien positions will depend on final lender agreements.

Staff noted how the loan supports the authority’s goal of producing housing affordable to households at or below county median income. Dufek said 11 of the 36 units would be targeted at 60–80 percent of Washington County median household income, with the remaining units at up to 100 percent of median household income. “There is a huge demand for it,” Dufek said of the affordable units. He told the authority he is planning for initial vacancy and pro forma assumptions that include a 25 percent vacancy rate in the first year and a 5 percent ongoing vacancy assumption thereafter.

Members discussed project risks and protections. Staff said the authority will require the affordable‑unit conditions as a loan condition and advised a deed restriction that runs with the loan term; staff said it could call the loan if affordability requirements are violated. On refinancing, staff said the authority has in past cases subordinated in good faith where projects were current borrowers and goals were being met, but that subordination is considered case‑by‑case.

Authority members also discussed the project’s public finance implications. Staff estimated an assessed value of roughly $7 million at completion and said that would generate about $70,000 a year in city property tax revenue under current assessments. Members noted the Affordable Housing Development Fund was originally seeded with TIF proceeds but that no TIF is being used for this particular loan.

The authority recorded the motion as approved with five affirmative votes and two abstentions; individual vote names were not specified in the meeting record. The loan terms adopted include the 1 percent rate, 30‑year repayment, interest‑only during construction and a deed restriction to preserve the affordable units for the life of the loan.

If the project proceeds, staff said the loan will be disbursed in phases tied to permits and construction milestones and that other financing conditions (construction loan closing, final lien positions, and standard due diligence) must be satisfied before first disbursement.

Community context: the authority and developer described the site as adjacent to commercial properties including Good Harvest Market, CVS and nearby hotel uses; the site has wetland constraints in part of the parcel and will require an expensive public water main extension. The developer and staff said those site costs, along with tight rental rates targeted to affordable households, are the primary reasons city assistance is needed.

The authority’s action allows the developer to proceed with final underwriting and to return with any contract documents required to complete the loan closing.

","mediaType","Video","parentTitle","City of Waukesha, WI - Redevelopment Authority on 2025-08-18 6:00 PM","oneSentenceSummary","The Waukesha City Redevelopment Authority approved a $720,000 loan from its Affordable Housing Development Fund to support DuFec Construction’s proposed 36‑unit development on Meadow Lane in the Silverneal area.","taxTitle","Waukesha City, Waukesha County, Wisconsin","taxId",9326,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6485662,"Redevelopment Authority clears streamlined loans for Habitat for Humanity Waukesha, allows up to $800,000 outstanding",218,292430,510545,"/Search/View?dp=1&key=5596172-fbf51732e7cf78021d01915e64c55a83&start=292&end=510","https://assets.pipeline.soar.com/5596172-fbf51732e7cf78021d01915e64c55a83/thumbnail_292430.jpg","/articles/6485662/Waukesha-City/Waukesha-County/Wisconsin/Redevelopment-Authority-clears-streamlined-loans-for-Habitat-for-Humanity-Waukesha-allows-up-to-800000-outstanding","https://secure.pipeline.soar.com/6485662-bf9ec00c1877d44fe7c069caafcfd356/orig.mp4?Expires=1770440170&Signature=AiID0HXs15xj7--uMIkt7iaoYWtRPfDtWh5SR6SmrlZ~-rqMBTNtdxvBchhtjCFlaXq736nqOSKBrbLEMqAui3UBSYIcHFG-8I1R~Y-GusZaZAJvXIQseDrWbTdBn5qmQe5cE1yUcdMya0g7A1SGFx9ujkK4rL4IWZGZ9xbBt~Rki52Om5sbUS2msxKg6C4CcS0LK-0CfdHz3TLt7PcHWi1BMNihvIqxNtJUAsfl~k5DxBKwhdjqVBu5io5JuUac4Gua2O8~R5Ex~Jg~BuyaMB3D5XM5dahxMsJxXPkzEpsz4wKB377xAmL6SVBzDUen89UkZ3soH8EUIW0grlraAw__&Key-Pair-Id=KUT5TJCACFTXG","The Waukesha City Redevelopment Authority voted unanimously to authorize a streamlined loan arrangement for Habitat for Humanity Waukesha that lets staff approve short‑term construction loans so long as total outstanding loans to the organization do not exceed $800,000.

Staff said Habitat currently has three $200,000 construction loans outstanding and requested authority to allow up to four concurrent loans (a maximum of $800,000 outstanding) at the authority’s standard 3 percent interest rate for construction loans. The streamlined approval would permit staff to issue additional loans to Habitat for Humanity Waukesha for homes at Dominica Park without the developer returning to the authority each time a new short‑term loan is needed.

Staff noted the request is limited to projects at Dominica Park and that loans historically have been repaid within about a year as families occupy the homes. Authority members recorded unanimous approval; the motion passed without an extended roll call and a single motion was recorded as approved.

Staff said the development fund can accommodate the requested increased outstanding balance and that the change would free regular authority meeting time while allowing staff to enforce consistent loan terms and underwriting. The loans will continue to carry the standard construction loan terms used by the authority and staff will report back on loan activity as repayments occur.

","The Waukesha City Redevelopment Authority authorized a change allowing staff to approve short‑term construction loans to Habitat for Humanity Waukesha up to a maximum of $800,000 outstanding (four concurrent $200,000 loans) for work at Dominica Park; approved unanimously.","actionData","errors"]

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Redevelopment Authority approves $720,000 loan for 36‑unit Meadow Lane mixed‑income development

Redevelopment Authority clears streamlined loans for Habitat for Humanity Waukesha, allows up to $800,000 outstanding