This program is intended to address the lack of quality and affordable housing stock available in La Crosse, especially for its lowest income citizens through incentivizing the creation of new affordable multi-family units. The fund also intends to revitalize distressed areas of the City through criteria that provides additional points to projects that redevelop in priority areas of the City, eliminate blight, or redevelop historic buildings.  

Funding Amounts

Currently capitalized at $1,225,000. 

• Maximum $45,000 per unit created (new) or maximum of $25,000 per renovated unit for individuals exiting homelessness
• Maximum $25,000 per affordable unit created or maximum of $25,000 per renovated unit for individuals earning 120% La Crosse County Median Income or less
• Maximum $10,000 per market rate unit created where at least 75% of the units are set aside as affordable units
• An additional $5,000 per unit may be considered when necessary for projects to provide for fully accessible units, high air quality, energy conservation or lead paint hazard reduction efforts.
• Maximum amount per project: $800,000

Loan Terms

• Projects creating or renovating units for individuals exiting homelessness, the loan shall be 1% simple interest due annually, with the principal deferred for 20 years or until sale.
• Projects that have 20% of total units set aside as affordable units, the loan shall be 1% simple interest due annually, with principal deferred for 20 years or until sale
• For all other projects, the loan shall be 2% simple interest due annually, with principal deferred for 20 years or until sale.

Policies and Application

Policy Guidelines and Instructions for Application 

Application 

Application Forms 

An application meeting, prior to completion of application, is recommended to determined eligibility. All applications are subject to a non-refundable application fee equal to 1% of the funding request. 

Affordable Housing  

Defined as housing units that do not exceed 30% of the tenant's gross income AND rents do not exceed the current Section 8 Fair Market Rent as determined by the Federal Department of Housing and Urban Development (HUD). 

To receive additional funds for serving households experiencing homelessness, household must earn less than 30% area median income (AMI) upon initial occupancy and rents may not exceed fair market rents (if they have a rental subsidy such as Section 8, executed agreement with non-profit agency with Rapid Rehousing dollars, etc.) or if no committed rental subsidy, rents may not exceed 30% CMI rents. The maximum rents are also set by HUD. 

HUD Section 8 Rent Limits: https://www.huduser.gov/portal/datasets/HOME-Rent-limits.html

Homeless Set-Aside Units

Individuals experiencing homelessness shall be defined as a person who lacks a fixed, regular and adequate nighttime residence, such as those living in emergency shelter, a place not meant for human habitation (on the streets), in transitional housing, doubled up in housing not on their own. Households must also have an income that is at or below 30% County Median Income. Applicants will be required to have a Memorandum of Understanding (MOU) with an agency to provide supportive services for the Homeless set aside units. The MOU should have a defined tenant selection process, preferably by utilizing the Coulee Continuum of Care Coordinated Entry System, AND include the process to demonstrate the household's homeless status.  

Contact 

Mara Keyes, Community Development Manager                                                            

keyesm@cityoflacrosse.org or (608) 789-7362

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