A pair of affordable apartment developments planned for Milwaukee`s emerging Harbor District are among 23 such projects throughout Wisconsin that are receiving a key form of public financing to help them proceed.The Harbor District developments ? a 140-unit building at 200 E. Greenfield Ave. and another development with 96 apartments at 100 E. National Ave. ? are receiving state and federal affordable housing tax credits.
Developers that receive tax credits must generally provide at least 85% of a building`s apartments at below-market rents to people earning no higher than 60% of the local median income for 30 years. The tax credits are sold to raise cash, with the developers then obtaining bank loans and other cash sources to complete their financing packages...
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- - Volume: 11 - WEEK: 18 Date: 5/4/2023 1:23:27 PM -