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State Land Use Enacted Legislation
| Bill # | State | Year | Party | Topic |
|---|---|---|---|---|
AB 268 |
WI | 2023 | R | Affordable housing incentives and financing, Commercial land, Development Fees, Funding, Impact fees, Minimum parking requirements, Planning Requirements, Vacant or blighted lands, Workforce Housing |
Provided by Furman
Summary
Wisconsin A.B. 268
- Establishes the Commercial-to-Housing Conversion Revolving Loan Fund under the Wisconsin Housing and Economic Development Authority (WHEDA) to finance the conversion of vacant commercial buildings into workforce or senior housing with at least 16 units.
- Requires housing constructed with these loans to remain workforce or senior housing for at least 10 years following initial occupancy.
- Conditions loan eligibility on developers securing all necessary permits and financial resources while requiring local governments to voluntarily reduce housing costs by increasing development density or reducing development fees.
- Mandates that participating municipalities update the housing element of their comprehensive plans within five years preceding a loan application.
- Directs WHEDA to prioritize projects based on credit risk, estimated housing cost reductions, and local workforce housing needs.
Provided by lawmakers
Bill Title
An Act to create 234.662 of the statutes; Relating to: commercial-to-housing conversion revolving loan fund and loan program.
Related resources
Enacted Legislation Related Posts
Research and analysis from the Furman Center on this and related housing policy topics.
