Fort Atkinson, Wis., July 18, 2024 – Fort HealthCare has approved a $3 million investment in the Live Local Development Fund (LLDF), a strategic initiative aimed at addressing the critical need for additional housing in Jefferson County. This investment brings the fund’s total to $8.5 million, significantly enhancing its capacity to support housing initiatives.
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.
“As Jefferson County continues to attract businesses and jobs, it is essential that we prioritize housing development to meet the needs of current and future residents,” notes Jefferson County Administrator Ben Wehmeier. “Fort HealthCare’s investment will play a pivotal role in promoting the development of much-needed housing in the county.”
Housing has become a key issue for employers.
“A lack of available housing in an area can make it difficult for businesses to attract and retain talented employees,” says Deb Reinbold, president of ThriveED. “Fort HealthCare’s investment is a major boost for our efforts to meet the housing needs of our local workforce.”
Research consistently demonstrates that stable, affordable housing is a cornerstone of good health. Housing instability, which includes overcrowding and high housing costs, is linked to poor health outcomes such as increased rates of chronic diseases, mental health issues and higher healthcare utilization.
“Fort HealthCare understands that health extends beyond the walls of our hospital and clinics,” notes Michael Anderson, MD, President & CEO of Fort HealthCare. “By investing in housing, we are addressing one of the root causes of health disparities and promoting a healthier future for our community.”
“Jim Nelson, our Senior VP and CFO, did a remarkable job establishing the foundation for this investment,” Anderson added. “We at Fort HealthCare believe that there will be synergistic gains in both population health and health equity in our community when we invest in housing and economic development. This aligns well with our Mission and Vision, and our Board of Directors is fully supportive.”
This investment by Fort HealthCare underscores the vital role that hospitals and healthcare systems can play in addressing housing instability, a key factor in overall health and wellness. By leveraging their resources to support local housing initiatives, Fort HealthCare is also setting a powerful example for other major employers to follow.
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 HealthCare
Fort HealthCare is committed to improving the health and well-being of our communities, with a vision to be the healthiest community in Wisconsin. As the leading healthcare provider in the region, it is our goal to reach as many members of the community as possible with health and wellness messages, providing tools and resources to help individuals improve their health and quality of life while collaborating with several partners to positively improve the population’s health overall on a long-term basis. Please visit FortHealthCare.com for more information.