Fiscal Note
The proposed resolution authorizes the award of loans totaling $250,000 to three child care providers through the Community Development Division's (CDD) Child Care Capital Access program (Munis program 14969/2024 project 14970). The 2024 Adopted Capital Budget included $250,000 for the program. Approval of this resolution would expend the authorized amount for 2024. No additional City appropriation required.
Title
Approving the award of loans totaling up to $250,000 from the Community Development Division’s Child Care Facilities Loan Program to three child care providers (Little Genius Bilingual Learning Center, The Playing Field, and Safari Bilingual Learning Center) for use in establishing or expanding child care space and authorizing the Mayor and City Clerk to enter into agreements with those agencies to complete the specified development projects. (District 9, District 12, District 17)
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Background
The City of Madison, in line with trends across the country, is experiencing a shortage of available child care. Approximately 2,500 children in Madison are waiting for a spot in regulated child care. Access to child care is particularly scarce in areas of the city considered to be child care deserts. The City has heard from child care providers in these locations that help with funding projects to expand their spaces could help them increase the number of children they are able to serve.
The City of Madison’s 2024 Adopted Capital Budget includes up to $250,000 in funding to support a new Child Care Facilities Loan Program. The Program makes funds available to non-profit and for-profit agencies, as well as individuals, looking to establish or expand a regulated group child care program, particularly within parts of the City where child care is scarce. Funds are available through an application cycle. The first application deadline was October 15, 2024 and the Community Development Division received requests from three agencies with combined to...
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