The Federal Home Loan Bank of Chicago has awarded $2.2 million in grants to BMO Harris Bank to fund six affordable housing projects in Wisconsin through the Affordable Housing Project program.
Four of the grants are targeted to Milwaukee housing projects: $396,644 in Affordable Housing Project subsidy funds will go to the Wisconsin Preservation Fund Inc. for the Sherman Park Homeowners Initiative Scattered Site in Milwaukee County for acquisition, rehabilitation and new construction on 40 affordable rental housing units; $360,301 of AHP subsidy funds are allocated to Brinshore Development LLC for the Milwaukee Prosperity Scattered Site in Milwaukee County, to be used for the acquisition and rehabilitation of 24 affordable rental housing units; $82,500 in AHP subsidy funds will go to Select Milwaukee Inc. for the Select Milwaukee DPA 2014 project, which will help 11 homebuyers purchase a home; And $120,000 has been allocated to the ACTS Community Development Corp. for the ACTS CDC Neighborhood Reclamation Project V, which will help with the acquisition and rehabilitation of 15 single family homes.
The grant will also go to projects in Madison and Ladysmith.
“BMO Harris Bank has a strong and longstanding commitment to helping our customers and our communities,” said Pamela Daniels-Halisi, Managing Director, Community Development, BMO Harris Bank. “We understand that giving back helps strengthen and enhance the quality of life of those who live and work in the communities we serve, which is why we continue to support the affordable housing program that helps families realize their dream of homeownership and access to decent and affordable apartments.”