OSHKOSH (NBC 26) — Winnebago County and the city of Oshkosh are tackling a housing shortage head on with a new $4.5 million initiative aimed at getting shovels in the ground.
The Winnebago County Housing Development Revolving Loan Fund loans cash directly to home builders. Once a house is built and sold, the builder repays the money, and the county reuses it for the next developer.
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Tricia Rathermel, GOEDC CEO, said the fund is designed to push past the barriers slowing new construction.
"Winnebago County Housing Development Revolving Loan Fund is an initiative that we're working on with Winnebago County. GOEDC was selected to administer that program, and they really dedicated those funds from some leftover ARPA funding."
Rathermel said the program opens the door for a range of development opportunities, including the conversion of a former school building into housing.
"We're excited to see different types of opportunities, things like the Washington School Project, to be able to help push development forward because there are some major barriers right now to getting these done."
The old school will be parceled up and turned into housing.
Oshkosh renter John Scheelk said the push for more housing benefits people across income levels.
"But all these steps the city and local investors are making aren't just helping my economic level, they are helping some of the lower income people and that's good to see."
Fellow renter James Dahl said expanding availability is a straightforward priority.
"I think there should be more availability toward other people."
The revolving loan fund is expected to be available later this year. You can visit this link for more Oshkosh specific housing resources.
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