MILWAUKEE COUNTY INVESTS $2.5 MILLION IN AFFORDABLE HOMEOWNERSHIP
ARPA funding will support the Acts Housing Homeownership Acquisition Fund
MILWAUKEE – On Monday, Jan. 9, joined by leaders from Acts Housing, Milwaukee County and the Milwaukee community, Milwaukee County Executive David Crowley signed legislation formally allotting more than $2.5 million to the Acts Homeownership Acquisition Fund. This represents the most recent evidence of Milwaukee County prioritizing access to affordable housing.
“At Milwaukee County, we understand that housing is health and housing security is a critical social determinant of health,” said Milwaukee County Executive David Crowley. “I am proud to help support Acts Housing as they seek to ensure more Milwaukee County families have equitable access to homeownership opportunities that will improve their lives.”
The funds were awarded to the Acts Homeownership Acquisition Fund by the Milwaukee County Board of Supervisors in a December 15, 2022 vote, following a recommendation by the Milwaukee County American Resource Plan Act (ARPA) Task Force.
“We are grateful to Milwaukee County for its continued partnership, and to the County Executive and County Board of Supervisors who recognize affordable housing as a foundation of our community,” said Dorothy York, MBA, Vice President of Real Estate for Acts Housing. “The Acts Homeownership Acquisition Fund exists to ensure that families with low- to moderate-income in Milwaukee have access to affordable housing. Over the past several years, as housing prices soared and demand for housing stock increased, regular families have been shut out of the market. This funding will allow Acts Housing to compete with well-capitalized investors and corporate buyers to purchase local homes that we can sell back to local families.”
In total, Milwaukee County has invested $24.7 million of its ARPA funding toward housing-related efforts.
“Expanding access to housing is essential to our vision of achieving racial equity,” said Chairwoman Marcelia Nicholson. “We cannot become the healthiest county in Wisconsin until we can ensure access to safe, sufficient housing for all. This fund will allow more children of color to grow up in stable homes, invest in our most historically disinvested communities, and target the root causes of health disparities. Thank you to Acts Housing and the Community Development Alliance for being strong partners on this vital project.”
About the Acts Homeownership Acquisition Fund
A social enterprise launched by Acts Housing, the Acts Homeownership Acquisition Fund seeks to outcompete predatory investors and increase housing inventory for owner occupancy.
Dorothy York, MBA, VP of Real Estate at Acts Housing, a graduate of Marquette University’s Associates in Commercial Real Estate program (ACRE), is leading a team of real estate and home rehab professionals that will identify local ownership opportunities and acquire properties to sell to local families who have been shut out of the housing market. Acts’ goal is to create an expanded inventory of homes in the $90,000 to $140,000 range with monthly housing costs of ownership of $900 to $1,200.
The Acts Homeowner Acquisition Fund was formed with the support of the Community Development Alliance (CDA) and is a key strategy of Milwaukee’s Collective Affordable Housing Plan. The Fund’s launch is made possible through gifts from the Zilber Family Foundation, the City of Milwaukee, Milwaukee County and other generous donors. More information about Acts Housing is available at actshousing.org