MADISON, WI – This week the Assembly passed the highly anticipated Workforce Housing package, including important legislation authored by Rep. Plumer. A statement on passage:
“If you’ve tried to become a homeowner, upgrade to a bigger home, or are looking to rent you know how difficult and expensive it has become. Wisconsin faces a shortage of workforce housing that’s driving up prices and costs.
This bipartisan package of bills removes red-tape, provides no-interest loans to developers, and creates incentives to bring more housing options into the market.
The legislation I was proud to author addresses housing shortages through the expansion of developer-financed workforce housing construction. The bill reforms the laws governing Tax Incremental Financing programs and gives communities another tool at their disposal. This bill passed the Assembly on a voice-vote.”
Additional Details on AB 96:
- Exempts developer-financed TIF from the 12% cap on equalized value to further encourage economic growth. This minimizes risk to communities because the expansion is funded by developers, not taxpayers
- Allows developer financed TIF to include areas that are non-contiguous.
- An amendment allows developer financed TIF funds to be used for workforce housing
and residential infrastructure.
