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City of Racine

City of Racine is a municipal government that since 2006 has provided two AFI grants having the objective of creating community stability and revitalization through increased homeownership.

City of Racine is a network grantee with one subgrantee. City of Racine emphasizes homeownership with the goal of reducing crime and poverty within the city of Racine through 25 home purchases. City of Racine has been successful in recruiting participants, drawing on referrals from its partner organizations.

Partners

City of Racine partners with Racine Neighborhood Watch, Inc., Housing Resources, Inc., Habitat for Humanity, Housing Authority of Racine County, and Racine/Kenosha Community Action Agency to provide referral services, financial education, and asset-specific training.

Assets for Independence Grant History

Name	Amount	Start Date	End Date
90EI0731	$28,750	9/30/2011	9/29/2016
90EI0431	$120,000	9/30/2006	9/30/2012

Project Title

Racine Individual Development Account Program to allow income-eligible individuals and households to save toward the purchase of a home. The goal is 25 homes.

Highlights/Outcomes

88 IDAs have been opened.

112 participants have received financial education.

$94,545 saved by participants.

28 participants have purchased an asset.

Total AFI Funding

Total AFI Grant Funding: $148,750
Total Non-Federal Support: $148,750

Focus Population

City of Racine focuses on eligible low-income, employed residents of Racine. This network covers the entire city of Racine, both inside and outside a designated Weed and Seed neighborhood.

Contact

City of Racine
730 Washington Avenue
Racine, WI 53403
(262) 636-9546
www.cityofracine.org