Fiscal Note
$383,200 in Federal HOME, HOME match, and Federal EDI funds is available within the Housing Development Fund to cover the costs for the Arboretum homebuyers; $88,800 in Federal HOME funds is available to cover the costs for the Habitat buyers.
Title
Authorizing the provision of HOME, HOME match, and EDI Workforce Housing funds to assist eligible buyers of Arboretum Co-housing and Habitat for Humanity of Dane County units in ways that address City Community and Neighborhood Development Objectives.
Body
AGENCY:
Habitat is a local community-based agency established to build affordable housing through the use of volunteers and sweat equity from lower income participants who become owners of the constructed housing. The organization is a locally incorporated entity, and affiliated with the international Habitat organization. The organization has constructed over 100 units of housing within the county since its founding.
Arboretum Co-Housing is an organization founded by a group of people interested in mixed-income housing that would be designed and operated in a manner that would encourage inter-generational living. The group worked with the Greenbush neighborhood and successfully proposed to St. Mary's Health organization the creative re-use of some of St. Mary's rental properties for owner-occupied housing.
PROJECT:
As part of a redevelopment agreement endorsed by the City of Madison for the expansion of St. Mary's Hospital, Arboretum Co-Housing will acquire 17 existing properties in the Erin Street area, demolish several, and construct additional new units so that the total project will include 41 units of housing. As part of the 41 unit complex, Arboretum Co-housing has agreed to sell an existing duplex to Habitat so that it can demolish and construct two larger units of new housing on the site. St. Mary's, Arboretum Co-housing, and Habitat are committed to marketing some of the units to employees of St. Mary's as part of a broader effort t...
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