New city funding focuses on helping neighborhoods

A new funding program aimed at helping nonprofits strengthen and vitalize city neighborhoods is underway, according to a release from the city of Madison. The Community Facilities Loan (CFL) program, administered by the city’s Community Development Division, provides low-cost financing for nonresidential developments undertaken by nonprofit organizations to acquire or improve properties that will serve the public. Organizations utilizing the CFL program must operate or plan to operate neighborhood facilities that support programming and services primarily for low- to moderate-income households including neighborhood centers, nonprofit child care centers, or other community facilities. Applications for the program will be accepted on a first-come, first-served basis until funds are expended.