Madison's Finance Committee approved purchasing a South Park Street building while a developer gets its financing in order to create a permanent supportive housing project for the homeless.
Ald. Mike Verveer, 4th District, said the committee voted unanimously to close on the 1202 S. Park St. property as Chicago-based Heartland Housing seeks to reapply for federal tax credits it missed out on earlier this year. The $640,000 to buy the building would come out of the $1.57 million the city set aside in this year's budget for Heartland's housing project.
The remaining money would carry over into 2018.
Heartland's $10.9 million project to build a 58-unit apartment for single adults and some couples did not receive tax credits disbursed by the Wisconsin Housing and Economic Development Authority this year. The nonprofit is applying to receive the credits in 2018.
You have free articles remaining.
The City Council will need to approve the building's purchase.
A contract to hire a New York nonprofit to engage in neighborhood leader training was also approved, Verveer said.
The Project for Public Spaces would facilitate placemaking training in disadvantaged neighborhoods to make vibrant public spaces from grassroots contributions of those who live in the communities. The $40,500 contract would come from the Planning Division's budget this year.
Mayor Paul Soglin fast-tracked the proposal after recent homicides in a year that has seen an increase in gun violence.