Vote Smart's Synopsis:

Vote to pass a bill that establishes a condominium conversion reimbursement grant program in Wisconsin.

Highlights:

• Requires the Wisconsin Housing and Economic Development Authority to establish a condominium conversion reimbursement grant program available to property owners for the following costs of converting multifamily housing to condominiums (Sec. 4):

• Reasonable attorney fees;

• State and local permitting fees; and

• Any other costs incurred for the grant project.

• Authorizes the Authority to direct up to $10 million from the main street housing rehabilitation revolving loan fund for grants under this subsection (Sec. 4).

• Specifies that the total amount awarded in grants under this subsection for a single parcel of land may not exceed $50,000 (Sec. 4).

Full Bill Text