The city of Madison is aiming to spend $11.3 million from its Affordable Housing Fund to support 377 new units — including 300 for those with lower incomes — in five housing projects, according to the Wisconsin State Journal. The announcement marks a new record for the number of projects the city has funded in a single year.
The investment from the city would help developers secure federal tax credits through WHEDA. The five housing projects for which the city will tap its fund are all located on Madison’s west side and include:
- Neighborhood House Apartments;
- Ellis Park Apartments;
- University Park Commons II;
- The Yellowstone Apartments; and
- Merchant Place Apartments.
The City Council will reach a final decision on Dec. 5.
