The Bad River Housing Authority and Lac Courte Oreilles Housing Authority were notified of awards of Low Income Housing Tax Credits (LIHTC) in June by the Wisconsin Housing and Economic Development Authority (WHEDA). Travois was a consultant on both successful applications.
Bad River will receive $477,920 in tax credits. The investor equity that will be generated will be used to rehabilitate 24 homes in Odanah, Wis., all of which will be set aside for tenants with incomes not exceeding 60 percent of the Area Median Income (AMI). As part of the project, a 1,200-square-foot community building that houses after-school and adult learning groups will be rehabilitated, furnished and equipped. An existing playground will also be refurbished.
LCO Housing Authority will receive $699,720 in tax credits for it second tax credit project. The funds will be used to build 24 new units in Hayward, Wis. There will be two two-bedroom units, 12 three-bedroom units and 10 four-bedroom units, all of which are intended for eventual tenant ownership. Seven of the units will be set aside for tenants with incomes not exceeding 60 percent AMI; Seventeen units will be set aside for tenants with incomes not exceeding 50 percent AMI. A playground will also be built on the project site.
To view a list of all WHEDA awards from the second round, click here.