The Housing and Economic Development Authority was created by Chapter 287, Laws of 1971, as the Housing Finance Authority. Principal program operations of the authority began in July 1973 following a favorable decision as to the constitutionality of its enabling legislation on June 29, 1973 by the Wisconsin Supreme Court in State Ex. Rel. Warren v. Nusbaum, 59 Wis. 2d 391, 208 N.W. 2d 780 (1973). The authority's first debt issuance occurred in March 1974. Its name was changed to the Housing and Economic Development Authority in 1983. In 1985, housing responsibilities of the Dept. of Development's Division of Housing and Community Services (see WIHV93-A845) were transferred to the Authority. In the Wisconsin State Archives' database, this form of agency name is used for records dated 1971-present.
The agency was established to help alleviate the housing shortage for low- and moderate-income persons, focusing on those not effectively served by the private sector. The agency is authorized to issue notes and bonds for mortgage purchases, and loans to lenders for low- and moderate-income housing and for rehabilitation and construction. It also provides long-term mortgage loans to sponsors of housing projects, and to persons and families of low and moderate income. In 1983 it began to provide loans for economic development and in 1985 it began to insure and subsidize farm loans.
From the description of Agency history record. (Unknown). WorldCat record id: 145779113
