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County Awards Nearly $2-Million in Grants to Develop Affordable Housing

For more information contact:

Josh Wescott: 608-266-9069

FOR IMMEDIATE RELEASE 6/22/2017

Issued By: County Executive
View only releases from County Executive

        Dane County Announces Affordable Housing Development Fund Recipients

 

County Awards Nearly $2 Million in Grants to Projects to Develop Affordable Housing Countywide

 

Today, County Executive Joe Parisi announced that almost $2 million from the Affordable Housing Development Fund will be awarded to six projects to assist in the creation of affordable housing in Dane County. Recipients of this year’s fund include Gorman & Company, the Dane County Housing Authority, MSP Real Estate, the Retirement Housing Foundation, and Movin’ Out, Inc.

 

The Affordable Housing Development fund was originally established in the County Executive’s 2015 budget and allocates $2 million annually through 2018 to various affordable housing projects in Dane County. The fund also encourages housing development by using its grant dollars to generate additional funds.

 

“These dollars help bring together successful partnerships to create affordable housing projects, a key component in our ongoing work to ensure opportunity for all in our community,” Parisi said.

 

Gorman & Company was awarded $525,000 to develop the Union Corners GrandFamily project. The development will feature 59 units consisting of both affordable and market-rate units for families.

 

Dane County Housing Authority received $450,000 to acquire a 20-unit building in Belleville and $282,915 for a 20-unit building in Mazomanie. The purchase of these buildings will ensure they remain affordable, instead of being converted to market-rate housing.

 

MSP Real Estate was granted $342,000 for an independent senior rental housing project. The 57-unit affordable rental development will be located at 6509 Normandy Lane in Madison.

 

Retirement Housing Foundation was allotted $250,000 for the development of a 60-unit building in Fitchburg. The six-acre site will serve the elderly with incomes between 30% and 60% of the Annual Median Income.

 

Movin’ Out Inc. was awarded $149,865 for the construction of a 59-unit affordable multifamily housing community in the City of Stoughton. The development is located in the Riverfront Redevelopment Area and will feature a combination of 1, 2 and 3 bedroom units.

 

The Affordable Housing Development fund’s Request For Proposal (RFP) process saw over $5.2 million in requested funding in 2017.  The County Board is reviewing a resolution verifying each recipient’s award.

 

This year’s announcement of Affordable Housing Development fund recipients is the latest the County Executive has done to improve Dane County’s affordable housing efforts. Earlier this spring, Dane County allocated $1 million and partnered with the City of Madison to develop the Tree Lane housing project, located at 7933 Tree Lane in the City of Madison. When completed, the building will include 19 two-bedroom units, 23 three-bedroom units, and 3 four-bedroom units.

 

Dane County and the City of Madison previously collaborated on the Rethke Avenue housing project. The 60-unit building provides housing for individuals who are chronically homeless, with a unique focus on veterans,

for whom 25 of the units are designated.

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