City of Madison introduces new program to help rental housing owners make repairs, upgrades

MADISON, Wis. -- The City of Madison on Monday announced a new program aimed at helping rental housing owners pay for repairs and improvements at their properties.

The Rental Rehab Program allows property owners who charge no more than fair market rents get funding to prevent property deterioration, reduce safety risks and extend their buildings' lives.

"Our housing crisis requires an all-of-the-above approach," Mayor Satya Rhodes-Conway said. "While we work to bring more housing to Madison, we must also take care of what we have."

Funding through the program depends on the number of units on each property. Owners with 1-6 unit buildings can get up to $75,000; while those with 13-20 units could get up to $200,000.

During the first year of the program, the city will waive application fees. There will also be more attractive loan terms given to properties in the north, south and southwest neighborhoods.

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