The Fort Atkinson Community Foundation (FACF) has approved an investment of $1 million in the Live Local Development Fund (LLDF). This new contribution elevates the fund’s total assets to $9.5 million, reinforcing its mission to address the critical need for additional housing in Jefferson County. The fund’s other investors include Jefferson County, Greater Watertown Community Health Foundation, Ixonia Bank and Fort HealthCare.
The LLDF, administered by Thrive Economic Development (ThriveED), provides gap financing to incentivize the creation of multi-family housing developments in Jefferson County. This funding bridges the revenue gap often encountered in housing projects in the county, making them financially viable for developers. Numerous studies have highlighted the urgent need for additional housing, projecting a shortage of at least 3,500 housing units in the county by 2029.
“This investment not only helps bridge the housing gap but also strengthens our community by ensuring that Jefferson County remains an attractive place for businesses and families alike,” notes Jefferson County Administrator Ben Wehmeier.
The past year has been a remarkable one for Jefferson County, which has attracted more than $1.3 billion in new investment from companies like Kikkoman and Nestle Purina.
Housing has become a key issue for businesses in the county. A lack of available housing can make it difficult for businesses to attract and retain talented employees.
“Housing is a key factor for employers looking to attract and retain talent, and the Fort Atkinson Community Foundation’s investment will play a crucial role in our efforts to develop housing solutions that meet the needs of our workforce,” says Deb Reinbold, president of ThriveED.
“We are painfully aware of the need for more housing options in our community,” noted FACF Chairman Sally Koehler. “ThriveED has taken a creative approach to try and find solutions to the housing shortage and we are eager to join Fort HealthCare and other community-minded organizations to pitch in and help.”
Describing the decision as a great opportunity to make an “impact investment,” FACF Executive Director Sue Hartwick explained, “unlike a grant, impact investing generates both a financial return and a measurable social return, allowing us to deploy a greater portion of our resources in support of our mission to improve the quality of life in our community. To put it more colloquially,” she smiled, “it’s a bit like putting your money where your mouth is. And we look forward to putting the money to work on behalf of our community.”
Employers and financial institutions looking to get involved as investors are encouraged to contact Deb Reinbold at deb@thriveED.org or 920-674-8710 for more information.
For more information about the Live Local Development Fund and how to apply for funding, please visit thriveed.org/lldf.
About Fort Atkinson Community Foundation
For over 50 years, the Fort Atkinson Community Foundation has worked with generous donors to pool charitable resources to make a difference in the Fort Atkinson community. Since 1973, the Foundation has distributed over $24.3 million in grants and scholarships, enhancing the community’s quality of life, fostering success for local nonprofit organizations, and investing in their young people.