234.61 Bonds for residential facilities for the elderly or chronically disabled.
(1) Upon the authorization of the department of health services, the authority may issue bonds or notes and make loans for the financing of housing projects which are residential facilities as defined in s. 46.28 (1) (d) and the development costs of those housing projects, if the department of health services has approved the residential facilities for financing under s. 46.28 (2). The limitations in ss. 234.18, 234.40, 234.50, 234.60, and 234.65 do not apply to bonds or notes issued under this section. The definition of “nonprofit corporation" in s. 234.01 (9) does not apply to this section.
(2)
(a) The aggregate amount of outstanding bonds or notes issued under this subsection may not exceed $99,400,000.
(b) Of the amount specified in par. (a), $30,000,000 may only be used to finance residential facilities serving 15 or fewer persons who are chronically disabled, as defined in s. 46.28 (1) (b).
(c)
1. Of the amount specified in par. (a), $48,580,000 may only be used to finance residential facilities with 100 or fewer units for elderly persons, as defined in s. 46.28 (1) (c) or to finance additional residential facilities serving 15 or fewer persons who are chronically disabled.
2. The remainder of the amount specified in par. (a) may only be used to finance residential facilities with 50 or fewer units for elderly persons, as defined in s. 46.28 (1) (c), or to finance additional residential facilities serving 15 or fewer persons who are chronically disabled.
3. At least 20 percent of the units in any residential facility serving elderly persons for which bonds or notes are issued under this paragraph shall be reserved for low-income elderly persons.
(3) The authority is not required to issue bonds or notes under this section to finance residential facilities for persons and families of low and moderate income.
History: 1983 a. 27; 1983 a. 81 s. 13; 1983 a. 83 s. 22; 1983 a. 192; 1985 a. 29, 334; 1993 a. 437; 1995 a. 27 s. 9126 (19); 1997 a. 27 s. 3355c; Stats. 1997 s. 234.61; 2005 a. 75, 487; 2007 a. 20 s. 9121 (6) (a); 2007 a. 125; 2009 a. 2.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 234 - Wisconsin housing and economic development authority.
234.032 - Goals and accountability measures for economic development programs.
234.034 - Consistency with state housing strategy plan.
234.045 - Workforce housing rehabilitation loan program.
234.05 - Housing development fund; establishment; payments into fund.
234.06 - Use of moneys held in housing development fund; temporary loans; grants.
234.07 - Limited-profit entity; distributions.
234.08 - Notes and bonds; issuance; status.
234.09 - Same; authorization; terms.
234.10 - Same; resolution authorizing issuance, contents.
234.11 - Same; validity and effect of pledge.
234.12 - Same; personal liability of members of authority.
234.135 - Same; purchase; cancellation.
234.14 - Same; liability of state.
234.15 - Capital reserve funds.
234.16 - General reserve fund.
234.165 - Authority surplus fund.
234.17 - Repayment to general fund.
234.18 - Limit on amount of outstanding bonds and notes.
234.19 - Notes and bonds; pledge and agreement of state.
234.21 - Trustee; additional powers.
234.23 - Notice before declaration that notes or bonds are due and payable.
234.24 - System of funds and accounts.
234.255 - Economic development assistance coordination and reporting.
234.26 - Notes and bonds as legal investments.
234.265 - Records of the authority.
234.28 - Notes and bonds; exemption from taxation.
234.29 - Equality of occupancy and employment.
234.31 - Construction of chapter.
234.32 - Laws not applicable to authority.
234.35 - Minority financial interests.
234.36 - Disabled veteran-owned business financial interests.
234.40 - Bonds for veterans housing loans and other veterans assistance programs.
234.41 - Veterans housing loan fund; establishment and use.
234.42 - Veterans capital reserve fund.
234.43 - Veterans housing bond redemption fund.
234.44 - Validation of certain obligations and proceedings.
234.45 - Low-income housing tax credits.
234.49 - Housing rehabilitation.
234.50 - Bonds for housing rehabilitation loans; issuance; status.
234.51 - Housing rehabilitation loan program administration fund; establishment and use.
234.52 - Housing rehabilitation loan program loan-loss reserve fund; establishment and use.
234.53 - Housing rehabilitation loan fund.
234.54 - Housing rehabilitation loan program capital reserve fund.
234.55 - Housing rehabilitation loan program bond redemption fund.
234.59 - Homeownership mortgage loan program.
234.592 - Qualified subprime loan refinancing.
234.60 - Bonds for homeownership mortgage loans and qualified subprime loan refinancing.
234.605 - Homeowner eviction and lien protection program.
234.61 - Bonds for residential facilities for the elderly or chronically disabled.
234.621 - Property tax deferral loans; purpose.
234.624 - Transfer of interest.
234.65 - Economic development.
234.67 - Recycling loan guarantees.
234.75 - Public affairs network loan guarantee program.
234.83 - Small business development loan guarantee program.
234.84 - Job training loan guarantee program.
234.86 - Drinking water loan guarantee program.
234.88 - Emergency heating assistance loan guarantees.
234.90 - Agricultural production loan guarantees.
234.905 - Agricultural production disaster assistance loan guarantees.
234.907 - Agricultural development loan guarantee program.
234.91 - Farm assets reinvestment management loan guarantee program.
234.92 - Financial assistance; fees.
234.93 - Wisconsin development reserve fund.
234.932 - Wisconsin job training reserve fund.
234.933 - Wisconsin drinking water reserve fund.
234.95 - Community development finance company.
234.96 - Community development project participation.