Soglin introduces $20 million city investment

By: Max Hess - Email
By: Max Hess - Email

Posted Wednesday, August 27, 2014 -- 10:00 p.m.

Brea Montgomery is only 22 years old, but she already has a lot on her plate.

"I was homeless...after I got taken off of my moms stuff I was pretty much on my own," she said.

Not only was she homeless, but she says she was also a mom.

"Back when I first had my son I wasn't working as much so I needed as much help as I could get from the state."

When the option for low-income housing came along, Brea was quick to jump.

"When I signed up for low-income housing it was pretty much a good thing for me and my son... it gave me a boost in my living arrangements," Brea said.

Soon later Brea had a full-time job and could provide for her son.

She lives in the Parkside Apartments downtown Madison, and today I'm told the city plans to build many more apartments like the one Brea lives in.

In a 5-year, $20 million plan, the city will build up too 200 new housing units per year, according to Madison Mayor Paul Soglin.

"The majority of this housing will actually be for working people, working families who are making 60% or less of the median income," he explained.

Much of the funding will come from tax incremental funding, also known as TIF, and the remaining amount will come as a result of traditional borrowing, according to Soglin.

Location options are currently being explored, and Soglin says they will be all across the city.

It's a project Soglin says addresses a national need, and it's a project people like Brea and her son know to appreciate.

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