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Alder Marsha A. Rummel

Alder Marsha A. Rummel

Home Address:
1029 Spaight St # 6C
Madison , WI 53703

Phone: 608-772-4555
district6@cityofmadison.com
Common Council Office:
210 Martin Luther King, Jr. Blvd
Room 417
Madison, WI 53703
Phone: (608) 266-4071
Fax: (608) 267-8669
WI Relay Service

Union Corners Gets Tax Credits & 5/12 mtg about the Grocery Store

April 26, 2015 7:36 PM

The 90 unit affordable housing proposal for Union Corners at Winnebago St wins WHEDA tax credits!

Mark your calendars for a neighborhood meeting about the next phase of development.

On Tuesday May 12 at 6p in the Fellowship Hall of Trinity Lutheran Church 1904 Winnebago St we will discuss Gorman & Co.'s proposal to construct a five-story, mixed-use building on the corner of Milwaukee Street and E. Washington Avenue.

The first floor would consist of retail space including Fresh Thyme, a 28,000 square foot grocery store and 9,000 square feet of retail. The upper floors would consist of 102 apartments. They propose 200 underground and 48 surface parking spaces. The plans also includes bike parking, an outdoor space with a small open pavilion, the serpentine path that connects 6th St to Milwaukee St, and stormwater detention and landscaping.

The City is still negotiating the terms of the final TIF agreement with the Gorman team. I hope you can join me and Alder Larry Palm on May 12 for the latest information and to share your feedback. 


"Madison gets $23.3 million from state for low-cost housing projects"
4/23/15 • By Dean Mosiman | Wisconsin State Journal 
dmosiman@madison.com
 
 
Madison's new Affordable Housing Fund is helping secure $23.3 million in federal tax credits for three housing projects with more than 200 low-income units.


The city had committed $3 million from the fund to help developers get critical federal low-income housing tax credits for the projects -- Union Corners on the East Side, Maple Grove Commons on the Southwest Side, and Tennyson Ridge on the North Side.


On Thursday, the Wisconsin Housing and Economic Development Authority announced the $23.3 million in credits for the three projects over 10 years. They are among $125 million in credits over a decade supporting 25 developments and the creation of 1,293 low-income units statewide.


"It's a marvelous opportunity for the city and consistent with our long-term plans to create affordable housing," Mayor Paul Soglin said. "We're thankful for WHEDA's insight and its determination to partner with us."


WHEDA received 51 applications seeking nearly $280 million in credits.


In Madison, it will deliver:


$8.5 million in credits to Gorman and Co. for creating 90 units -- 76 for those for people with low incomes -- at the $13.1 million first residential phase of the Union Cornersmixed-use project at East Washington Avenue and Milwaukee Street.


$7.6 million in credits to Oakbrook Corp. for creating 80 units -- 68 for low-income renters -- at the $11.9 million Maple Grove Commons housing project on McKee Road.


$7.2 million in credits to T.W. Sather Co. for creating 72 units -- with 61 low-income units -- at the $13.9 million Tennyson Ridge project on Tennyson Lane.


The tax credits are awarded over a 10-year period.


All of the projects have some market rate plus lower-cost apartments for those making up to 60 percent of the area median income -- $44,640 for a family of three -- city community development director Jim O'Keefe said. Some units will be for those making up to 30 or 50 percent of area median income, he said.


"The decisions today are the difference between the projects moving forward or not," O'Keefe said. "It confirms the strategy we chose to pursue. The projects now are definitely on track to proceed."


The state, however, declined applications for another $14 million over a decade in credits for three other projects in the city, including the $10 million Madison Supportive Housing project for 41 homeless families at 7933 Tree Lane on the Far West Side.


The city remains committed to the project and will continue planning with the intent of making a new submission to WHEDA for tax credits in a future funding cycle, Soglin said.


"It's a temporary setback," O'Keefe said.


The Tree Lane project is the city's second phase of permanent housing for the homeless. The city and Dane County are investing about $2 million and using $5.4 million in WHEDA federal tax credits for a $7.5 million project with 60 units of housing for adult singles, including some units targeted to veterans, on the 700 block of Rethke Avenue on the East Side.


The city's new Affordable Housing Fund, created in the 2015 budget, has a goal of supporting at least 250 units of permanent housing with services for the homeless and 750 or more units for people making up to 60 percent of the area's median income by 2020.?
 





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