City Offers New Funding For Community Facilities Loan Program
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A new City of Madison funding program aimed at helping non-profits strengthen and vitalize City neighborhoods is underway. The Community Facilities Loan (CFL) program, administered by the City’s Community Development Division, provides low-cost financing for non-residential developments undertaken by non-profit organizations to acquire or improve properties that will serve the public.
Organizations utilizing the CFL program must operate or plan to operate neighborhood facilities that support programming and services primarily for low to moderate-income households. Examples of eligible projects may include neighborhood centers, non-profit child care centers, spaces used for public-facing services or programming and office or administrative space that supports such services.
Community and neighborhood facilities provide a public benefit and serve as focal points in neighborhoods, helping to bring people together, build relationships and strengthen communities. In the 2022 Capital Budget, the Common Council allocated $1,000,000 to support the CFL program to be combined with $500,000 of the City’s Community Development Block Grant (CDBG) funds to support community projects.
“We’re really excited about this opportunity to support our non-profits in strengthening our communities in a way that promotes equity, inclusion and education. Any time we can provide more resources for citizens to thrive in their neighborhoods is a huge win for the City,” said Matt Wachter, Director of Planning and Community and Economic Development.
The City’s CDBG program supports community development activities that strengthen, revitalize and improve neighborhoods and are generally reserved for activities that primarily benefit those with household incomes at or below 80% of County Median Income, or households with incomes at or below $79,900 for a family of four.
Interested organizations and community members are encouraged to visit the Community Facilities Loan Program Guidelines on the Community Development Division website. Applications will be accepted on a first-come, first-served basis until funds are expended.
