Lot Purchase Program:


Program Overview: The Lot Purchase Program would allow for the purchase of new lots in existing and new subdivisions to reserve lots for affordable units. To achieve that goal, the City of De Pere would purchase lots in a proposed subdivision to sell to non-profit organizations at a reduced rate for the development of affordable housing in new subdivisions.

This program could be coupled with the request for the city to finance residential infrastructure projects. Therefore, if the developer is receiving the benefit of the city borrowing at lower interest rates and deferred special assessments, the community would receive the benefit of more affordable new homes within the community.

Homes built within the subdivisions would still be required to follow all developer-created restrictive covenants to ensure the home fits within the subdivision’s character.

Recommended Funding:       TIF Affordable Housing Extension
                                                 Other TIDs appropriate

Program Funding Amount:   Combined funding with Affordable Housing in Multi-Family TIF Developments Funding.
Total Funding: $1,118,527

Affordable Housing in Multifamily TIF Developments Program: 

Program Overview: A program to offer additional incentives to include affordable units as defined by WHEDA and CDBG rent limits, in multi-family residential or mixed-use developments. This program could mirror the WHEDA Section 42 program, but at a local level with fewer reporting requirements.

Recommended Funding:     TIF Affordable Housing Extension
                                               Other TIDs appropriate

Program Funding Amount:   Combined funding with Affordable Housing in Multi-Family TIF Developments Funding.
Total Funding: $1,118,527

Requirements:  Each project would be specific to the project needs; however, some of the program requirements could include designating a certain number of units as affordable as defined as the following.

  • Rented to an individual or family at 80% of the county median income.
  • Rents capped at WHEDA Rent Limits published annually.
  • Renters may not spend more than 30% of their income on housing-related expenses.

Income Limits (2022)

FAMILY SIZE: ONE TWO THREE FOUR FIVE SIX SEVEN EIGHT NINE
COUNTY: Brown: 50,560 57,760 64,960 72,160 78,000 83,760 89,520 95,280 101,040

Rent Limits (2022)

WISCONSIN STANDARD MULTIFAMILY TAX SUBSIDY PROJECT INCOME LIMITS Estimated Maximum Rent Limits at 80% 2022 County Median Income (Effective April 18, 2022)

BEDROOM SIZE: EFF ONE TWO THREE FOUR FIVE SIX
COUNTY, Brown: 1264 1354 1624 1877 2094 2310 2526

The developer shall include income limit units for 15 to 20 years and shall/must contract with WHEDA for monitoring. These example standards resemble some of the requirements of the WHEDA Section 42 Housing Tax Credit Program.

Funds could also be used to create an RFP for an affordable housing TIF Policy that the Council can use as a guide for incorporating affordable housing units into multifamily projects.