The council signed off on agreements and financial support for nonprofit Cinnaire Solutions to take over two Far West Side properties for homeless people that have fallen into financial trouble.
After two troubled affordable housing complexes are sold, far fewer of their units will be devoted to supportive housing. City officials say that change, along with new management, will help avoid some of the problems that plagued the buildings.
Cinnaire Solutions is moving to buy and improve the 60-unit Rethke Terrace project for homeless singles and veterans and 45-unit Tree Lane Apartments for homeless families for roughly $7.5 million.
With operating funds for Madison’s supportive housing complexes set to expire by the end of May, officials are working quickly to negotiate a sale and resolve debt.
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