Dane County CDBG Commission Approves Loan Commitment for Mixed Income Housing in Sun Prairie
FOR IMMEDIATE RELEASE 6/22/2001Issued By: County ExecutiveView only releases from County Executive
Dane County Executive Kathleen Falk announced today that the Dane County Community Development Block Grant (CDBG) Commission has approved a loan commitment of $665,000 in County Housing Development Fund (HDF) funds for a 130 unit mixed income development in the City of Sun Prairie.
A resolution to commit the funding for the project was introduced to the County Board last night.
The proposed development is a partnership between three Madison-based nonprofits, the Wisconsin Partnership for Housing Development, the Community Action Coalition for South Central Wisconsin and Movin’ Out, and will provide 40 units of rental housing and 90 units of owner-occupied housing.
The proposed site is near the downtown area, off of Hwy. 19, on the southeast side of Sun Prairie.
“This project will appeal to working families and individuals with a broad range of incomes,” said Falk. “It will bring home ownership and quality rental housing to more families.”
This is Dane County’s first affordable housing loan commitment under the HDF Program. Falk sought federal approval of Dane County as an entitlement community eligible to receive CDBG funds in 1999 as part of her Design Dane!, a comprehensive program to improve the way Dane County is growing. The County’s Housing Development Fund (HDF), funded entirely with CDBG monies, was created in 2000.
Its purpose is to provide financing to housing developers who develop housing in Urban Service Areas, expand the supply of housing that is affordable to low and moderate income families and support the development of mixed income housing.
The project sponsors are in the process of lining up permanent financing and plan to start construction in spring 2002. In addition, the partnership of nonprofits is working closely with the City of Sun Prairie on zoning and annexation issues as well as the design and layout of the development.
For further information, contact Katherine Wallace Bates at the Dane County CDBG Office at 261.9782 or email@example.com