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Home / Government / WHEDA puts on $10,900 party (9:22 a.m. 12/17/09)

WHEDA puts on $10,900 party (9:22 a.m. 12/17/09)

MADISON, Wis. (AP) — The Wisconsin agency that temporarily suspended its low interest home loans because of the recession has thrown a nearly $11,000 party to show its employees they’re appreciated.

While many state agencies are forgoing the traditional holiday parties or holding a potluck gathering, the Wisconsin Housing and Economic Development Authority invited 150 employees to the Monona Terrace last week for its annual employee appreciation dinner.

WKOW-TV reports expense records show WHEDA paid $7,000 to rent a ballroom, $1,400 for flowers, $800 for a DJ and nearly $1,700 for brunch the next morning.

WHEDA points out that it operates with tax-exempt mortgage revenue bonds, not taxpayer money. Although, the agency does contribute to the state’s general fund.

Last year, for the first time in its 30-year history, WHEDA temporarily suspended its mortgage lending program because of liquidity problems.

Information from: WKOW-TV, http://www.wkowtv.com

One comment

  1. One wonders how many of the low-income renters that WHEDA counts on to validate its existence were invited.

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