1. CDFI Support for Affordable Housing Development in Wisconsin
A Home for Everyone Conference
July 17, 2018
Presented by:
Sarah Greenberg, Regional Director

2. Forward Community Investments
We are…
a statewide community development financial institution (CDFI)
providing mission-based financing,
advisory services,
and grants to Wisconsin mission-based organizations addressing racial, social, and economic inequity.

3. Since 1994…
$65.5M
loans to 150+ mission-based organizations in 38 counties
5,000+
organizations benefitted from advisory services and training
$3M
Small grants made to social justice organizations

4. Lending for Affordable Housing
FCI’s investment to date in affordable housing:
$26.8 million in loans
41% of historical portfolio
2,367 units built
FCI’s current lending for affordable housing:
Pre-development, construction, bridge, working capital loans/LOCs available
Primarily nonprofit borrowers
Loans up to $600K ($200K for predevelopment; $100K for working capital)

5. Growing need/strained capacity
FCI has seen significant uptick in affordable housing finance inquiries in 2018
Especially for single-family housing projects
Big developers are focused on high-end rental housing construction
LIHTC pricing making affordable development slower/more difficult
Many communities have a shortage of affordable housing providers
Nonprofit providers increasingly strained

6. Creative Solutions Needed!
Creative affordable housing solutions
Mixed-use housing
Tiny houses
Shared equity/coop housing models
Creative reuse of vacant properties
Creative capacity building solutions
Supporting emerging real estate developers of color
Facilitating partnerships between affordable housing developers for peer learning/risk sharing
Underwriting organizations; monitoring portfolios

7. An upcoming resource from FCI
Meeting with communities around the state
Convening HUD PJs and CHDOs
Leverage HOME financing, build capacity
$1 million of CDFI FA award set aside
Seed a new affordable housing loan fund for WI
Lower interest rate, lines of credit available
Statewide availability
Looking for investors & partners

9. Troy Gardens

10. Troy Gardens: Overview
An award-winning 31-acre project
30 single units of mixed-income cohousing
20 units reserved for affordable housing
10 units are market rate with no income restrictions
Community gardens/working CSA farm
Land trust model

12. United Methodist Children’s Services

13. UMCS: Overview 3 phases of supportive housing developments – 72 units
Parkside, Grandview, and Washington Park Apartments
UMCS Townhomes (10 duplexes)
Mixed-use, including UMCS offices, day care, community rooms, food & clothing pantry, fitness center, computer room

14. For information about Forward Community Investments, go to www
For information about Forward Community Investments, go to or contact me at