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Redevelopment Authority approves $400,000 in construction loans to Habitat for Humanity for Dominican Park lots
Summary
The authority approved two $200,000 construction loans to Habitat for Humanity to build on Lots 1 and 13 at Dominican Park; the loans carry 3% interest and repayment is due at transfer or sale to selected Habitat homeowners. Staff said incoming repayments from other Habitat loans will largely offset the new disbursements in May.
The Redevelopment Authority voted unanimously to approve $400,000 in new construction loans to Habitat for Humanity of Waukesha and Jefferson Counties to finance homes on Lots 1 and 13 in Dominican Park.
The request — two $200,000 loans tied to construction and release on building-permit milestones — was presented as part of the authority’s ongoing construction-loan portfolio. Staff said the loans would carry a 3% annual interest rate and…
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