Care Net secures affordable housing tax credits
A pro-life, faith-based nonprofit pregnancy center will build a 36-unit, mixed-income housing facility on the city’s east side using secured tax credits. Care Net’s $6.4 million facility will have 36 units and be located at 1350 MacArthur Road. The Wisconsin Housing and Economic Development Authority approved Care Net’s application for affordable housing tax credits after the agency lost all City Council sponsor support and was turned away for a $550,000 loan.
The tax credits will help develop Eagle Harbor Apartments and day care facility, which will handle as many as 32 children. Care Net must now sell tax credits to investors and hopes to break ground in the fall.