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Middleton Area Development Corporation outlines local loan work, pandemic-era Merle program
Summary
Robert Burke of the Middleton Area Development Corporation described MADC’s lending work for local businesses, its role in affordable housing and the Merle pandemic relief loan program (city and MADC each contributed $300,000), noting most loans have been repaid and MADC closed the program.
Robert Burke, vice president of the Middleton Area Development Corporation, updated the Common Council on MADC’s lending and local investments on Dec. 2.
Burke told the council MADC was created in 1969 as an independent partner to the city to offer loans to Middleton-area businesses. He cited examples including assistance on affordable housing projects and early support for the city’s first Hispanic grocery store. Burke reviewed the Merle economic relief loan program launched during the COVID-19 pandemic, saying the city and MADC each contributed $300,000 for a $600,000 fund that supported roughly 25 local businesses; he said outstanding Merle loans have been largely repaid and the program was closed with any remaining losses absorbed by MADC.
Council members and staff thanked MADC for its partnership and discussed potential collaboration on workforce housing and integrating MADC support with forthcoming community campus planning. Burke offered to provide contact information to council members for follow-up and said MADC welcomes conversations about matching city funds or coordinating on affordable housing projects.
