Program Updates

OWN IT: Building Black Wealth is a private sector initiative designed and led by a diverse team of Madison-area professionals in the real estate, banking, and finance industries who acknowledge the systemic racism embedded within financial systems, practices, and policies. OWN IT is designed to address and work towards eliminating substantial barriers to wealth and homeownership for Black families in the Greater Madison area.

The program does so by providing two key elements: an educational program and access to $15,000 for down payment funds with fewer restrictions. This pilot program is offered to families, alumni, and staff, for free, at One City Schools. We plan to continue this model with additional partner groups in the future.

Progress

  • Brokers, agents, and real estate professionals are signing on to be Ambassadors of the OWN IT: Building Black Wealth program.
  • $360,000+ has been raised for the downpayment fund, which will help over 20 families with a down payment on their first home.
  • 59 families have completed the Wealth Building Course.
  • 22 participants completed the Homeownership course.
  • 10 families who completed courses have been awarded a $15,000 down payment grant to use toward the purchase a home
  • 5 families have closed on their new homes!

Press

Ambitious “Own it: Building Black Wealth” program launches to spur Black home ownership in Madison
David Dahmer, Madison365 (April 8, 2021)

‘OWN IT Building Black Wealth’ Aims to Remedy Racial Wealth Disparities Within Madison Homeownership
Cameron Cieszki, CapTimes (June 21, 2021)

Own It: Building Black Wealth invests $105,000 to help seven local families buy homes
David Dahmer, Madison 365 (March 1, 2022)

OWN IT Program Awards 15k Down Payment to First Time Homeowner
Angelica Euseary, CapTimes (Apr 20, 2022)

Madison school-based grant program seeks to increase homeownership among people of color
Emilie Heidemann, Wisconsin State Journal (Jun 23, 2022)

More

Updated July 2022