Independent Student Newspaper Since 1969

The Badger Herald

Independent Student Newspaper Since 1969

The Badger Herald

Independent Student Newspaper Since 1969

The Badger Herald

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$154 million of stimulus to fund rural Wisconsin housing

Vice President Joe Biden and Agriculture Secretary Tom Vilsack announced Wednesday Wisconsin residents are starting to receive the first wave of the $154.5 million in housing loans courtesy of the federal stimulus package.

The $154.5 million has been provided as part of the American Recovery and Reinvestment Act, signed into law by President Barack Obama on Feb. 17.

The intent of the loans is to boost home ownership opportunities in rural America while also spurring the economy and job creation.

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State-by-state figures released by White House officials show the amounts provided by the program range from $5.7 million to $358.2 million.

White House officials estimate 42,500 jobs will be created as the result of increased home ownership, according to a statement from the vice president.

“$155 million, almost — that’s a lot of money,” said Madu Enwemnwa, spokesperson for state Sen. Lena Taylor, D-Milwaukee.

Taylor serves on the Wisconsin Housing and Economic Development Authority.

“It will make people want to provide rental housing opportunities for residents who are homeless or being threatened out of their homes because of lost jobs or lost income in one way or another,” Enwemnwa said.

The money will fund the U.S. Department of Agriculture’s housing programs, which are designed to ensure that rural Americans have access to safe, well-built, affordable homes.

The programs finance new or improved housing for very low- to moderate-income families and individuals in rural areas.

Along with Wisconsin’s rural areas, Enwemnwa thinks the loans will especially benefit the Milwaukee community.

“Milwaukee has a lot of low-income people, so they will benefit a lot from this. Low-income people or people who are working hard every day to get food put on their table now stand a chance,” Enwemnwa said.

In contrast to Enwemnwa, Sen. Glenn Grothman, R-West Bend, said he thinks the federal government may be doling out an excessive amount of money to the states for housing.

“I think most of our problems now are due to too much government involvement in the credit markets,” Grothman said. “But, if the federal government is giving out money, I suppose Wisconsin should take its fair share.”

The housing loans will not only benefit those looking for homes, but also reward some current homeowners with improvements on their properties.

According to Enwemnwa, the loans will give eligible homeowners incentive to improve their properties to be more “green” and energy efficient.

Grothman, however, argued the federal government is giving credit to people who should not be getting credit.

“On the other hand, if Washington is going to print money, Wisconsin might as well take advantage of it,” Grothman said.

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