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Waunakee CDA approves routine policy update schedule for Housing Betterment Fund; agrees to study condo eligibility
Summary
The Waunakee Community Development Authority approved guidelines to schedule regular updates to its Housing Betterment Fund scoring matrix and opened a further review into whether condominium units should qualify after a request from a condominium association.
The Waunakee Community Development Authority on an administrative motion approved a set of guidelines to govern regular updates of the Housing Betterment Fund scoring matrix and asked staff to return with proposed language on how the program should treat condominium projects.
Staff told the authority that at the February meeting members asked for a formal process for periodic updates and that staff had drafted a policy to schedule those updates. The board voted to adopt the updating guidelines "as presented." After the vote, staff flagged a separate, more complex question about condominium eligibility that members agreed required additional work.
Erin Moran, a trustee who reported requests from condominium owners, said condos "are some of the most affordable homeownership options in Waunakee," but noted exterior work can be complicated for shared-ownership properties and the program’s existing rules are not designed for large exterior condo projects. Staff described a request from the Kearny Crossing Condominium Association for a full vinyl residing of two buildings estimated at $120,000, with homeowners special-assessed about $8,000 each.
Staff proposed one possible approach in which individual unit owners could apply for a cost-share—"if homeowners are assessed $8,000, they could come to us to get a 50% cost share on that amount," staff said—while acknowledging the committee would need verification mechanisms to ensure program funds are applied to the intended work.
Board members discussed eligibility criteria and noted that not all condo owners meet income-qualification metrics; one member cautioned that many local condo owners are older residents who chose to downsize rather than lower-income households. Members asked staff to research options, draft policy language and return with recommendations at a future meeting.
The authority did not adopt changes to condo eligibility at this meeting; it approved only the proposed schedule for policy updates and directed staff to bring back refined options for handling condominium projects and contractor-financed reimbursements.
