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Redevelopment Authority approves loan for Habitat for Humanity’s Dominican Park homes
Summary
The Waukesha City Redevelopment Authority unanimously approved staff’s recommendation to issue a construction loan to Habitat for Humanity for the Dominican Park subdivision; staff described $200,000 in construction financing and an additional $50,000 to cover a bank-required payoff, to be disbursed at permit pull and repaid at sale.
The Waukesha City Redevelopment Authority voted unanimously to approve a construction loan for Habitat for Humanity’s Dominican Park subdivision, following a staff recommendation. The board approved the motion by voice, with a 5–0 tally.
Jeff, a redevelopment authority staff member, told the board Habitat is requesting a construction loan of $200,000 plus $50,000 to pay part of a requirement tied to a First Federal Bank loan. He said the authority would disburse funds when the builder pulls a building permit, charge a 3% annual interest rate and require repayment at the time of sale. Jeff also summarized Habitat’s existing outstanding loans and said four earlier Dominican Park lots are complete or nearing completion.
A board member who attends Habitat open houses praised the program’s results, saying the completed homes and moving families into finished houses demonstrated the project’s impact. "What an awesome program," the member said, and expressed support for issuing additional funds to continue progress in Dominican Park.
Board members asked program and design questions before the vote. One member asked whether the new Dominican Park homes would have basements; the Habitat representative said the first four buildings did, but for the current phase the organization moved to slab-on-grade designs to reduce costs and improve affordability. The representative said the approach will be reassessed after the phase completes. The representative also invited board members to a Main Street House dedication and a phase-2 celebration when homes close.
Staff noted that, under HUD rules tied to the funding, the project must complete and homes be sold by Dec. 12, 2026. Jeff said the RDA expects repayments from sold Habitat homes will return capital and interest to the loan programs for future projects.
The authority’s approval was recorded as unanimous. The Habitat representative thanked the board and said the organization will continue informing the authority about construction milestones and invite members to dedication events.
