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Waukesha Redevelopment Authority ties housing-development funding to building permits, approves policy changes 5-0
Summary
The Redevelopment Authority approved changes to the Affordable Housing Development Fund to generally link disbursements to issuance of building permits, with limited exceptions for RDA property acquisitions; the authority also received loan-program updates including Habitat construction loans and redevelopment-site contamination concerns.
The Redevelopment Authority of Waukesha City voted 5-0 to adopt changes to its Affordable Housing Development Fund that will, in most cases, tie the release of city funds to the issuance of building permits.
Jeff, Redevelopment Authority staff, said the change is intended to protect a limited fund balance (staff reported approximately $561,000) and give clarity to developers by ensuring city funds are disbursed only when a project is ready to proceed. He described permitted uses under the program as including land acquisition, site preparation, housing construction, conversion to housing units and rapid rehousing.
Staff said exceptions to the permit trigger will be available on a case-by-case basis: when the RDA itself owns property and can secure the citys interest with a mortgage, funds may be released before permits for acquisitions or assemblage needed to advance a project. Staff also said the RDA would retain the flexibility to reimburse prior eligible expenses once projects reach permit stage.
In an update on the loan portfolio, staff reported four active construction loans to Habitat with repayment expected in about 18 months, steady repayments on storefront-activation loans, and that several house-rehab loans have had construction completed but are awaiting formal loan closeouts. The authority discussed a contaminated site adjacent to the Strand and said Department of Natural Resources staff have been engaged; the full extent of contamination and remediation needs remain unresolved.
The authority moved and approved the fund-policy changes by a 5-0 vote. Staff said projects already nearing plan commission review may still receive targeted consideration for extensions or exceptions.
The meeting also approved routine minutes earlier in the session and reserved a $30,000 commitment to Revitalize Milwaukee for a block-build event (a separate motion passed earlier in the meeting). The authority adjourned after a brief session.
