234.49 Housing rehabilitation.

541 words·~2 min read·/wi/chapter-234/234-49-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Definitions. In ss. 234.49 to 234.55 :

(b)“Authorized lender” means any lender authorized under sub.

(a)4. to make or service housing rehabilitation loans but does not include a person licensed under s. 138.09 .

(c)“Eligible beneficiary” means any of the following:

1. A person whose name does not appear on the statewide support lien docket under s. 49.854

(b), except that a person whose name appears on the statewide support lien docket is an “eligible beneficiary” if the person provides to the authority a payment agreement that has been approved by the county child support agency under s. 59.53

(5)and that is consistent with rules promulgated under s. 49.858

(a).

2. A family who or which falls within the income limits specified in par.

(fm).

(d)“Eligible rehabilitation” means additions, alterations, or repairs to housing to maintain it in a decent, safe, and sanitary condition or to restore it to that condition, to reduce the cost of owning or occupying dwelling units, to conserve energy, and to extend the economic or physical life of structures. “Eligible rehabilitation” includes the purchase of home appliances that satisfy the energy efficiency criteria established by the federal environmental protection agency for the energy star designation, as determined by the authority, but does not include construction of fireplaces, except for necessary repairs or the addition of permanently attached energy-efficient equipment to an existing fireplace.

(e)“Housing” means a residential structure having not more than 4 dwelling units in which at least one unit is occupied by the owner as a principal residence and, if a housing rehabilitation loan is granted for the property to implement energy conservation improvements, the structure is not subject to rules adopted under s. 101.02 , 101.63 , or 101.73 .

(f)“Housing rehabilitation loan” means a loan to finance eligible rehabilitation or a property tax deferral loan. Housing rehabilitation loans, except property tax deferral loans, include low interest loans.

(fm)“Low interest loans” means loans that meet or exceed the rate of interest required to pay the costs incurred by the authority for making and servicing such loans, but do not exceed the rate of interest specified in sub.

(a)6. No low interest or other loan may be made to a person or family whose income exceeds 120 percent of the median income for a family of 4, except that in a designated reinvestment neighborhood or area as defined in s. 66.1107 no low interest loan at the highest rate of interest authorized by this paragraph may be made to a person or family whose income exceeds 140 percent of the median income for a family of 4, and except that the authority may increase or decrease the income limit for low interest loans by no more than 10 percent of the limit for each person more or less than 4.

(g)“Median income” means the median family income for the area in which the residence is located or the median family income for the state, whichever is greater.

(h)“Owner” means the holder of the title or the vendee of a land contract of housing which is otherwise eligible for a housing rehabilitation loan.