ACTS Housing Expands To Beloit

BELOIT, Wis., April 11, 2019 /PRNewswire/ -- ACTS Housing, a Milwaukee nonprofit established in 1995 to transition renters to homeowners, has announced the expansion of its services to nearby Beloit in a five-year, fully-funded initiative.

The past few years have marked historic progress for ACTS Housing. As of 2018, ACTS has supported 2,500 families in ownership and reclaimed more than 860 foreclosures. In recent years, ACTS' work has been recognized through a BizTimes Nonprofit Excellence Award for Social Enterprise, a Force for Positive Change Award from the Wisconsin Alumni Research Foundation, and a 40 under 40 award from the Milwaukee Business Journal for ACTS Executive Director, Michael Gosman. ACTS even won a $100,000 award from the women of Impact100 in support of mortgage loans for families.

ACTS' impact and success has drawn the attention of municipalities, churches, philanthropists, and others who inquire how the program might be leveraged in their city. After years of study and consideration, ACTS is ready to open its first office outside of Milwaukee.

A lack of affordable, safe housing, is not a unique problem to Milwaukee – in fact, it is one of our country's biggest challenges. According to the 2018 State of the Nation's Housing report, a third of US households are cost burdened by rent. ACTS programs address this disparity through increasing access to homeownership, and the expansion to Beloit will continue to tackle this problem with the end goal of creating a sustainable low income housing market.

"By the conclusion of this five year initiative, ACTS plans to have supported 150 families in homeownership, increased ownership in two key Beloit neighborhoods, and built a sustainable, viable affordable homeownership market for families with limited incomes," said ACTS Housing Executive Director Michael Gosman. The initiative, as well as ACTS' historic focus, is all about helping families improve their lives.  

The total budget for the initiative is $2.9 million, which has already been committed. Lead supporters are the Hendricks Family Foundation, Beloit 200, the Lynde and Harry Bradley Foundation, and Stand Together. The initiative will launch this summer.

"Strong families and individuals want stable homes, and to create a better life for their children. We hope this is the first of many opportunities to share our model and to help build more cities with strong homeowners and even stronger neighborhoods," said ACTS Housing Board President Allison Steinhafel.

About ACTS Housing
ACTS empowers families with barriers in becoming homeowners through homebuyer and financial counseling, real estate brokerage, rehab counseling, and mortgage loans. Since its founding in 1995, ACTS has reclaimed more than 860 foreclosed properties and supported more than 2,500 families. To learn more visit www.actshousing.org.

SOURCE ACTS Housing

Related Links

http://www.actshousing.org