DANE WORKFORCE HOUSING FUND DANE WORKFORCE HOUSING FUND DANE WORKFORCE HOUSING FUND The Dane Workforce Housing Fund was started to help create new Affordable Workforce Housing units in Dane County. Our goal is to create 500 new affordable workforce housing units in Dane County in the next three years and keep them affordable for 15 years. Learn More The Fund is managed by Madison Development Corporation. The first project launching this fall is Wisconsin Housing Preservation Corporation’s 39-unit building in Middleton, WI (pictured above) “ The #1 economic stability issue for employees in Dane County is the lack of affordable workforce housing that is close to their work. — Rich Lynch, Chair of the Economic Stability Council The purpose of the Dane Workforce Housing Fund is to help create new Affordable Workforce Housing units in Dane County by focusing on the missing middle - working adults whose household incomes fall between 40% to 80% of the Area Median Income and that cannot afford to live in Dane County. By offering a modest return on investment versus asking for a donation, we’re creating a win-win situation for our investors and for community. Dane County is a great place to live and work, yet housing costs continue to be a challenge for working families. 3,520 Dane County working families struggle to afford housing, and the number is growing. Nearly 42% of Dane County residents are considered house burdened. That is – they are paying more than 30% of their income on their housing, which leaves them unable to build assets or focus on other, needed expenses. The unbalance in the people, jobs and housing requires workers to either have long commutes or live-in housing unaffordable to them (or both). Safe, affordable housing makes a difference in the lives of children and families impacting educational and health outcomes. Estimates for return on investment for creating housing affordable to families are quantifiable. Stable housing is a key way to ensure that children and their parents do not miss critical opportunities for optimal nutrition, healthy brain development, learning, and necessary health care – leading to a more financially stable, prosperous, and healthy populace. Dane Workforce Housing Fund I Investors Thank you to the investors for making this fund possible! Together the 14 investors below have committed $11.85 million to the Fund. Dane Workforce Housing Fund Technical Advisory Committee Thank you to the individuals below for generously contributing their time and expertise to the Fund! Natalie Erdman, Chair Mary Wright - WHPC Dave Porterfield - Movin’ Out Mike Flynn - Monona Bank Chris Jillings - Cinnaire Donald Bernards - Baker Tilly Tom Landgraf - UW Madison Graaskamp Center Jessica Piatt - Old National Bank Michael Thorson - Inventure Capital Farshad Maltes - WHEDA Dave Seiler - First Business Bank Josh Marron - Park Bank Tim Radelet “ This fund provides previously missing last dollars for projects designed to house more Dane County families. When we work together to increase the supply of affordable housing for our workforce, we are one step closer to achieve our collective vision of a Dane County where everyone can succeed in school, work, and life - and that’s something to be excited about! — Renee Moe, President & CEO of United Way Dane County For more information about the fund, please contact Lorrie Heinemann Email - lorrie@mdcorp.org Phone - 608.535.4527 6082562799 COPYWRITE 2018, MADISON DEVELOPMENT CORPORATION