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Redevelopment Authority reports loan repayments that replenish housing and storefront funds
Summary
City staff told the Waukesha City Redevelopment Authority that three Habitat for Humanity loans were repaid (bringing nearly $9,000 in interest) and summarized program balances: roughly $170,000 available in rental/rehab loans and about $36,000 remaining in storefront activation after commitments.
At the Waukesha City Redevelopment Authority meeting, a staff member reported recent repayments to multiple loan programs, saying the authority received "almost $9,000 in interest" after three Habitat for Humanity construction loans were repaid, which replenished the affordable housing development fund.
The staff member described current program balances: about "170,000" in the rental rehab program and storefront activation repayments of about "84,000" since inception, leaving roughly "36,000" available after a new loan commitment. He also said some Habitat loans remain outstanding and that staff can provide updated assessed values for completed projects at the next meeting.
Board members asked for a short briefing they could take to the full council showing the programs' impact on property values and the tax base. Chair requested staff pull current assessment information after January to quantify what improvements have done for assessed value and to help justify any future fund extensions or policy changes.
The meeting approved the minutes by unanimous consent earlier in the session. Staff said it will provide a follow-up on loan balances and a net new construction update for council communications at the next meeting.
