Unique Funding Focused on Preserving Existing Affordable Housing Makes First-Ever Round of Awards

DANE COUNTY – Dane County will award $3,926,399 in funding through a new program focused on preserving existing units of affordable housing across Dane County, County Executive Melissa Agard announced today. It is the fund’s first round of awards, anticipated to preserve and rehabilitate 65 units of housing in the communities of Fitchburg, Stoughton, and Madison, and create four new units of affordable housing in the Village of Waunakee.

“Preserving the affordable housing we already have is one of the smartest and most cost-effective ways to address our housing crisis,” said Dane County Executive Melissa Agard. “These investments will keep dozens of families and individuals stably housed, protect long-term affordability in communities across Dane County, and ensure that existing homes remain safe, livable, and within reach for people at a range of incomes. This first round of awards reflects our commitment to using every tool available to meet urgent housing needs while building a stronger, more equitable county.”

As projects finalize their funding and move toward closing — expected as early as 2026 — they will return individually to the County Board for final approval.

Projects proposed for funding

The projects proposed for funding this year by Dane County include:

A. ReJenerate Housing Cooperative – ReJenerate Housing

$544,157 to ReJenerate Housing Cooperative for ReJenerate Housing, a nine-unit project located at 911 Jennifer St., Madison. The proposed project includes seven single-room occupancy (SRO) units, one two-bedroom unit, and one four-bedroom unit. All nine units will be affordable: three for households at 30% and six at 50% of the county median income (CMI). ReJenerate Housing will target three units to individuals experiencing homelessness. The project will be permanently affordable. Awarded dollars will allow for the completion of rehabilitation of the project.

B. Sunny Side Development – Greenway Cross

$1,200,000 to Sunny Side Development for Greenway Cross, a 16-unit project located at 1810-1814 Greenway Cross, Fitchburg. The project will include eight one-bedroom and eight two-bedroom units. Ten units will be affordable to households at 50% CMI and two units at 80% CMI. The remaining units will be offered at market rate. Two units will be targeted to households experiencing homelessness. The project will be permanently affordable. Awarded dollars will allow for the acquisition and rehabilitation of the project.

C. Movin’ Out – Elven Sted

$1,254,000 to Movin’ Out for Elven Sted, a 33-unit project located at 631 8th St., Stoughton. The proposed project includes four one-bedroom, 17 two-bedroom, and 12 three-bedroom units. Five units will be affordable to households at 30% CMI, four units will be affordable to households at 40% CMI, 12 units at 50% CMI, and 11 units will be affordable to households at 60% CMI. The remaining unit will be offered at market rate. The project has committed to a period of affordability of 40 years. The awarded dollars will allow for the preservation and rehabilitation of existing income- and rent-restricted rental housing.

D. Casa4U, LLC – 606 Reeve Dr.

$850,000 to Casa4U, LLC for 606 Reeve Dr., a 12-unit project located at 606 Reeve Dr., Waunakee. The project will include five one-bedroom and seven two-bedroom units. Four units will be affordable at 60% CMI. The remaining units will be offered at market rate. The project has committed to a period of affordability of 40 years. The awarded dollars will subsidize the construction of four new units of income- and rent-restricted housing.

E. Zapata Housing Cooperative – Zapata Housing

$78,242 to Zapata Housing Cooperative for Zapata Housing, a 12-unit project located at 722 Moorland Rd., Madison. The project will include 11 SROs and one one-bedroom apartment. All units will be affordable at 60% CMI. The project will be permanently affordable. The awarded dollars will allow for the completion of the rehabilitation of the project.

Funding sources and companion programs

Funding for the housing comes from an $8 million capital budget initiative in the 2025 Dane County Budget targeted to support projects that either have not received low-income housing tax credits (LIHTC), or projects where previously awarded LIHTC credits are expiring, putting the projects’ existing affordable housing units at risk.

The fund is a companion to Dane County’s existing Affordable Housing Development Fund (AHDF), which funds new construction of affordable housing units, often with LIHTC support from the Wisconsin Housing and Economic Development Authority (WHEDA). Since its creation in 2015, the AHDF has committed more than $60 million to affordable housing projects, resulting in thousands of new units being built across the county. An additional $20 million will be available for new construction through the AHDF in 2026.