A Win for Homeowners: Rocket Community Fund Commits $300,000 to MKE United’s Anti-Displacement Fund
(September 20, 2023 – Milwaukee, WI) – Today, MKE United and the Rocket Community Fund unveiled a game-changing $300,000 infusion to supercharge the Anti-Displacement Fund. This program is designed to shield homeowners living close to downtown from being pushed out due to skyrocketing property taxes.
Originating in 2019, the Anti-Displacement Fund was set in motion by MKE United, an all-encompassing urban planning initiative. It’s backed by various organizations, including the Greater Milwaukee Committee, City of Milwaukee, Greater Milwaukee Urban League, Greater Milwaukee Foundation, LISC Milwaukee, and the Medical College of Wisconsin. Born out of critical community dialogues over increasing property values—thanks to booming downtown developments—the program operates in harmony with the City of Milwaukee’s Anti-Displacement strategy.
The contribution from the Rocket Community Fund marks the largest single donation to the program so far. This capital injection aims to stabilize these communities and aid committed legacy homeowners.
“Rocket Community Fund’s generous contribution accelerates our mission and brings us a step closer to sustaining this initiative for an additional decade,” said Joel Brennan, President of the Greater Milwaukee Committee. “We are making good on our promise to residents that they can secure their homes and contribute to the long-term vitality of Milwaukee’s neighborhoods.”
Rocket Community Fund is no stranger to housing philanthropy. The Detroit-based organization has a broad reach, having invested in cities like Detroit, Cleveland, Atlanta, and now Milwaukee. Just last year, they allocated $460,000 towards a comprehensive parcel survey in Milwaukee, in association with the Reclaiming Our Neighborhoods Coalition and other grassroots organizations.
“Homeownership is the cornerstone of a strong community,” stated Laura Grannemann, Executive Director of the Rocket Community Fund. “By fortifying the Anti-Displacement Fund, we’re empowering residents to thrive, not just survive, in the midst of the city’s growth.”
Since its inception, the Anti-Displacement Fund has achieved tangible results. It disbursed $38,856 in its first year, a number that soared to $91,941 in 2021. So far, none of the 321 eligible homeowners have been compelled to sell their homes due to tax pressures.
Milwaukee’s Mayor Cavalier Johnson expressed his wholehearted endorsement of the initiative. “The Rocket Community Fund has stepped in where local government can’t, showcasing the power of philanthropy. Over the years, this program has proven to be a lifeline for homeowners,” he said.
One such homeowner is Denise Ward, a 62-year-old retired and disabled resident of the Bronzeville area. Having lived in Milwaukee for 23 years, she appreciates the program’s vital role in her life. “It has been instrumental in easing my tax burden, allowing me to remain in the home I love,” she noted.
The Anti-Displacement Fund serves residents in five Milwaukee districts: Halyard Park, Brewers Hill, Harambee, Walker’s Point, and Clock Tower Acres. To qualify, applicants must meet several criteria, including a minimum of five years of home ownership and current status on real estate tax payments.
The Greater Milwaukee Committee is looking to stretch the program beyond its initial five-year trial, with additional backing from a roster of philanthropic supporters.
For more details on the Anti-Displacement Fund, including how to apply, visit MKE United’s Anti-Displacement Fund website or reach out to the Program Administrator, Riverworks Development Corporation, at 414-882-7420.
