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Winnebago County board debates $3.5M housing revolving loan fund, refers measure back to ARPA commission
Summary
After more than two hours of public comment and supervisor questions about governance, risk and municipal commitments, the Winnebago County Board voted to refer a proposed $3.5 million appropriation from the ARPA "spirit fund" for a housing revolving loan fund back to the ARPA/Spirit Fund commission for clarification and revision.
Winnebago County supervisors spent the bulk of one meeting session debating a proposed $3.5 million allocation from the county's ARPA "spirit fund" to seed a Housing Revolving Loan Fund aimed at supporting workforce housing and closing financing gaps for new construction.
Housing specialist Lou Shear, who led the presentation, described the fund as a reusable financing tool that would prioritize households at or below 140% of county median income and be managed by a nonprofit selected through an RFP. "The money goes out and it comes back, you know, when it's paid off with interest so we can recycle this funding," Shear told the board, adding that the program would use deed restrictions and an advisory board to guard against flipping and short-term rentals.
Public commenters and several supervisors voiced…
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