Milwaukee-based ACTS Housing announced it has raised $2.1 million to support more families seeking homeownership and to rehabilitate the organization’s main office.
The nonprofit organization plans to invest $1.3 million into purchase and rehab loans for families to reclaim distressed Milwaukee homes, and $800,000 to revamp its own headquarters, a former convent at 2414 W. Vliet St.
ACTS works with families who have financial, credit-related, debt-related, or language barriers preventing them from homeownership. The organization provides up to $50,000 in purchase rehab loans to help each family it serves.
Since 1995, ACTS has assisted more than 2,500 families in becoming homeowners, including the reclamation of more than 860 foreclosed homes.
Today, ACTS said it has more $870,000 in loans outstanding and less than one percent of the loan fund is delinquent.
Work on the organization’s office is currently in progress and has involved roof repair, window replacement, emergency exit upgrades and plumbing and electrical improvements. The organization also plans to upgrade its entrance, landscaping, replace fencing and update its furniture.
ACTS also recently announced plans to bring its program to Beloit, the organization’s first expansion outside of Milwaukee. It will launch the $2.9 million initiative this summer, with the goal of assisting 150 low-to-moderate income families in becoming homeowners over the next five years. The program is fully funded, with lead support from the Hendricks Family Foundation, Beloit 200, the Lynde and Harry Bradley Foundation, Stand Together and earned income.
The organization is hosting a campaign celebration on May 13 from 4:30-6:30 p.m. at its office, 2414 W. Vliet St.
