Our development program puts families in homes they can own and afford to live in.
The City of Madison provides funds to the Partnership to purchase vacant homes, rehabilitate and sell the homes to low-income households living in Madison. Housing costs in Madison are extremely high; we know that over 23% of Madison households pay more than 35% of their income for housing. When households pay too much for housing, there is not enough left over to cover costs of transportation, food and health care. Our development program seeks to put families in homes they can own and afford. A great example of this work is found in a home located on the far east side of Madison. The bank foreclosed on this home; the owner left water running and the entire basement was full of mold. This home was not a safe place for anyone to live. We purchased the home and managed the clean-up of the mold. We then hired crews from Operation Fresh Start to complete the rehab of the home and it will be sold to a low income household at an affordable price. The home has four bedrooms so will be great for a larger family that might have few affordable options.
We used HOME funds and funds from Forward Community Investments to purchase and complete this home. While we were completing just one home, we were achieving multiple benefits for the community. In completing this project we were able to: