Funding for a proposed affordable housing complex eyed for 134 S. Fair Oaks Ave. is in limbo after the Madison City Council voted against a $343,000 tax incremental finance loan.
The 80-apartment project proposed by Stone House development would include 68 affordable housing units, but the TIF request required 15 votes in favor and only received 13.
Ald. Barbara Harrington-McKinney, 1st District, voiced concerns about possible air and soil contamination related to nearby Madison–Kipp Corp. Kipp, a metal fabricator, has spent millions in recent years investigating and cleaning up spills and paid $7.2 million to settle lawsuits from nearby neighbors, according to the Wisconsin State Journal.
