Dane County will continue efforts to provide more affordable housing by granting more than $400,000 to help develop a housing project in east Madison, County Executive Joe Parisi announced Thursday.
The project, which has been partially paid for using the city of Madison’s affordable housing funds and low-income housing tax credits from the state, aims to create 68 units of affordable housing, with 16 of those being reserved for homeless families and veterans.
“Housing is the ultimate solution to addressing homelessness, and that’s why county government will continue to be a willing partner in helping bring projects like this to reality,” Parisi said. “We’ve made great strides in recent years in improving both front line services and access to permanent housing, and this project will help dozens of more families and individuals.”
The county prioritized affordable housing in recent years. In 2018, the county designated $3 million in its budget to help finance affordable housing projects. Its 2019 budget doubled that amount.
The county estimates their 2018 funds will help create more than 450 units of affordable housing as well as 61 units of market-rate housing. Since its inception in 2015, the county’s affordable housing fund has helped create more than 1,000 units, with 74 percent located outside Madison.
The city of Madison has its own affordable housing fund, a $20 million effort since 2014. City officials estimate it will produce more than 1,000 units by 2019.
