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Middleton committee reviews affordable housing action plan, weighs TID increment, land acquisition and partnerships
Summary
Committee members reviewed a drafted Affordable Housing Action Plan focused on creating a dedicated affordable housing fund (sourced in part from TID 3 increment), supplementing that fund through partnerships and grants, mapping potential sites, and prioritizing near-term actions. No formal policy was adopted; work continues at the next meeting.
Middleton's affordable housing working group met at about 5:00 p.m. to review strategy and finance goals for the city's Affordable Housing Action Plan, focusing on establishing a dedicated affordable housing fund, how much of the TID 3 increment to allocate, potential partnerships with employers and nonprofits, and options for acquiring land or underutilized buildings.
The committee's top priority, as presented by the plan author (Speaker 2), was to "create and maintain an affordable housing fund" so the city would have resources to implement prioritized actions rather than relying solely on annual budgeting. Speaker 2 said the draft assumes using the TID 3 increment as a primary source and noted a council decision will be needed on what share to recommend. "We have to take at least 75%, and we could go all the way up to 100%," Speaker 2 said, describing the range the group is considering.
Why it matters: the TID increment under discussion can provide a sustained revenue stream to underwrite affordable projects, but deciding how much to dedicate will drive what types of programs the fund can support — grants or loans, land…
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