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  • Channel3000.com | News 3 Now

    City of Madison community block grant maintained more than 300 affordable housing units

    By Corey Moen,

    2024-04-16

    MADISON, Wis. -- The City of Madison announced in a press release, a community development block grant helped maintain hundreds of affordable housing units.

    Through federal Community Developmental Block Grant funding, the City of Madison awarded approximately $2 million in 2023 to restore more than 300 affordable housing units as part of the capital improvements for non-profit Housing (CINH) program.

    Those funds went to multiple non-profit housing providers in Madison, including Common Wealth Development, Madison Area Community Land Trust, Madison Development Cooperation, Movin Out, and Porchlight.

    In order to qualify, providers had to be organized as a non-profit under Chapter 181 of the Wisconsin State Statue and more than half of the units in the proposed project had to house people with incomes at or below 80 percent of Dane County's median income.

    Under the terms of the program, those receiving funding also had to own the housing and agree to maintain its affordability for at least five years after the project was completed.

    Grants and loans to fix properties are not only limited to non-profits. Eligible owners of single-family homes that needs fixing can inquire with Project Home , while owners of rental property can get help through City of Madison's new rental rehab program .

    More information about funding opportunities can be found on the City of Madison's website.

    ​COPYRIGHT 2024 BY CHANNEL 3000. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.

    https://img.particlenews.com/image.php?url=2ZPPOW_0sStprNA00

    Courtesy of City of Madison

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