ReStore 715-318-9122 Affiliate 715-350-8575
ReStore 715-318-9122 Affiliate 715-350-8575
Best practices and affordable housing solutions will increase affordable/workforce housing stock. Currently the cost-burden created by some of the state’s most expensive home pricing impacts a family’s access to healthy food, healthcare, and education.
A lack of workforce housing impacts employers’ ability to sufficiently staff its operations. By offering stable, healthy and affordable housing, individuals and families are on the path to generational wealth and are able to plan and prepare for successful futures.
The Coop model would bring access to land, materials, lending and every step of the build process together, creating opportunities for lower costs and enabling a profit margin that incentivizes entry into this critical needs market.
The Coop will initially serve the following counties: Dunn, Pierce, Pepin, Polk, St. Croix. Further expansion may include Barron and other counties in the state’s Western region.
Who should be involved in the Coop?
Goals include procurement of land for in Western Wisconsin. WWHC partners will develop and construct the housing unit(s) at a lower cost, which will allow the WWHC to sell the home to an individual or family meeting determined income restrictions. The benefits include guaranteed work that comes with each project, as well as serving as an active participant in the creation of new affordable housing options.
Jordan Vernoy and his team from SWIM (See What I Mean) are helping guide development, research, feasibility and need for this work in the marketplace. Some of the deliverables include development of an organizational structure, a business plan, bylaws, market research, potential membership structure to include vendors, contractors, municipalities, governmental partnerships, financial institutions, economic development partners, service organizations and others as found through research. Further exploration of financial projections, needed capital and staff (executive director) are also part of this work. We are grateful for their expertise and guidance. You can reach Jordan at jordan@seewhatimean.com
Tax Increment Financing (TIF) is a public financing method that is used as a subsidy for redevelopment, infrastructure, and other community-improvement projects in many countries, including the United States.
Tax Incremental District 9ID) is a specific geographic area within a city or village that is targeted for development or economic revitalization (there are special statutes governing town TIDs).
TIF does not change zoning nor does not make it easier to use eminent domain. When a TID is closed the value is returned to all taxing jurisdictions.
If you'd like to learn more about TIF in Wisconsin, visit the Dept of Revenue
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Funding for development and research of this coop was generously granted from Wisconsin Economic Development Corporation, Compeer Financial, and Momentum West.
Momentum West is partnering with economic development partners to create a centralized spot for housing development. The housing toolkit provides valuable information and links for potential homeowners, communities, and developers looking to build a single-family home, multi-family home, or development within the ten county Momentum West region, as well as access to current housing studies conducted in west central Wisconsin.
If you know of others who would like to be part of this work, please email Kristie Smith at executivedirector@scvhabitat.org or call 715-350-8575 ext. 1.
St. Croix Valley Habitat for Humanity
749 Ryan Drive, Hudson, WI 54016
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