Dane County officials are expected to award over $400,000 for a new affordable housing development on Madison’s east side.
“Housing is the ultimate solution to addressing homelessness, and that’s why county government will continue to be a willing partner on helping bring projects like this to reality,” said Dane County Executive Joe Parisi.
The funds would come from the county’s Affordable Housing Fund, which has $3 million in available funding for 2018 projects. It was first established in 2015 to support efforts to increase access to cheap housing in the county.
Joshua Wescott, Parisi’s chief of staff, says a resolution approving this funding was introduced to the county board last night. He said the resolution will likely go before a committee in the next week or so, and then back to the board for a final vote a week or two after that. He expects the resolution will pass on a unanimous vote.
He notes this project is only the latest being undertaken with county funding and dollars from the Wisconsin Housing and Economic Development Authority.
“The board has been very, very supportive of projects like this in the past,” Wescott told WisBusiness.com. “I anticipate they will be for this project as well.”
Parisi says the county has made “great strides” to improve services for homeless people. He says dozens of families and individuals will benefit from the presence of the Stone House Development, slated for construction at 134 South Fair Oaks Ave.
The project would have 80 housing units. About 70 percent will be set aside for people earning between 30 percent and 60 percent of the area’s median income. Sixteen units will house homeless families and military veterans.
In a release, Parisi also notes the county budget he signed for 2019 doubles next year’s Affordable Housing Fund to $6 million.
For this year’s fund, all of the proposals could create 451 units of low-cost housing, as well as 61 units of market-rate housing.
Since the fund began, the county has pitched in to help create over 1,000 units throughout the county, 36 percent of which are outside of Madison.