Parisi announces more than $4 million in Dane Co. affordable housing funding
MADISON, Wis. — A big financial boost for a group of affordable housing projects in Dane County is up for approval Thursday night.
Dane County Executive Joe Parisi announced an initiative Thursday to send a total of $4.3 million to affordable housing construction projects in Fitchburg, Madison, McFarland and Mount Horeb, bringing a total of 314 new affordable housing units to the area. The money would come from the Dane County Affordable Housing Fund and is subject to approval from the board at their meeting tonight.
“Affordable housing is a critical component to increasing opportunity for all of Dane County’s residents,” Parisi said in a statement. “Challenges to housing affordability have been compounded by the ongoing Covid-19 pandemic. By partnering together and supporting these types of projects, we can create solutions and advance efforts that make housing more accessible in our community.”
Of the $4.3 million total, $1.35 million will go to the project in Mount Horeb, $1.25 million to the project in Fitchburg, $1,187,550 to the project in Madison and $608,341 to the project in McFarland.
To date, the Affordable Housing Development Fund has given more than $17.8 million to projects in the county. Parisi’s office says 56% of that money has gone to developments in the City of Madison, and 44% to projects outside of the city. A total of 1,680 units have been created through those projects, with 82% of those being classified as affordable housing.
COPYRIGHT 2022 BY CHANNEL 3000. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.