2017 Letter From Board Chair and President

Dear Madison Development Corporation Partners and Friends:

We are pleased to be celebrating our 40th Anniversary in 2017. Madison Development Corporation (MDC) was formed on November 11, 1977, for “charitable, scientific, literary and educational purposes” with the activities of the corporation being directed to “the benefit of the Madison Community.”

We have indeed benefited the Madison community through our business lending, affordable housing and venture financing programs.

In 1979, we launched our Business Lending Program under the leadership of Roger Ganser, our first MDC President. Initial financing was received via a $500,000 Community Development Block Grant from the City of Madison under the leadership of Mayor Paul Soglin. Since its inception, our Business Lending Program has provided more than $23 million in loans to over 400 Madison businesses, which created 3,500 jobs in the city.

Under the leadership of Frank Staniszewski, our second MDC President, we built our housing portfolio to 253 units. We pride ourselves on providing quality, affordable housing for the working people of Madison. Under the strong leadership provided by our volunteer board, we continue to own and manage our properties, which are located throughout the City of Madison and the City of Middleton.

In 2005, our Vice President of Lending, Dave Scholtens, co-founded our Venture Debt Fund with Frank so that MDC could provide high-tech companies with the critical financing needed to grow and expand their companies here in Dane County. Since inception, this fund has provided over $13 million to 46 companies and these organizations created over 1,400 high quality jobs in Dane County. Our fund investors include WHEDA, Madison Gas and Electric (MGE), community banks and local economic development organizations.

We could not fulfill our mission without our key partners: our Board of Directors, the City of Madison, our investors and our committed MDC staff members who empower people by providing quality housing and financing for business ventures on a daily basis. We thank you all for your support of MDC over our first 40 years and look forward to continuing our partnership with you for many more years to come!

MDC Board Chair Ron Trachtenberg

MDC President Lorrie Heinemann

2016 Annual Message

Madison Development Corporation (MDC’s) goal is to provide quality self-sustaining jobs through loans and venture capital to small businesses and innovative businesses as well as providing quality affordable housing for Madison and Dane County residents.

MDC’s lending programs provide loan and venture capital to both traditional small businesses and cutting edge technology companies.  With access to capital still difficult for small businesses and technology start-ups, MDC plays an important and necessary role in providing funding to these individuals and companies.  As Dane County’s economy continues to grow, job creation is critical.  The impact that MDC borrowers have is substantial with over 588 employees and 171 new hires in 2015.  MDC borrowers include individuals pursuing the dream of owning a business as well as companies with the vision and technology that could become the next big breakthrough.  MDC has also been successful in targeting women, minority and disadvantaged businesses.  Most of these firms have a very difficult time accessing capital.  We are proud to say that MDC funded businesses have had great success and become major Dane County employers.

With even tightening apartment vacancies, apartment rents in Dane County have increased such that housing for many residents is no longer affordable. The property management team and entire staff at MDC have worked hard to provide quality, affordable housing options. The success of the housing program is reflected in the high number of residents served who have income levels of less than 50% of the median income level. Housing is critical for the economic self-sufficiency of our residents.

In addition to our existing housing portfolio and last year’s development of new housing on South Park Street, MDC is now developing our largest new development project to date in downtown Madison which will provide 46 units.  At least 75% of the units should be affordable to low income residents.  This is especially important as downtown rents continue their rapid rise.

Frank and the entire staff have shown passion and energy to continue the mission of MDC for the betterment of our community.  Their vision for MDC has led to new avenues for growth and options to provide valuable services to our customers and residents.  Frank and the staff have strategically positioned MDC for the future by taking advantage of long term, low interest rate financing. 

I would personally like to thank our numerous committee members and the Board for their time and commitment to MDC.  On behalf of the Board, I would like to thank our departing President, Frank Staniszewski. Through his leadership, MDC has grown its lending and housing programs to become a major player in Madison’s growth and economic development.  We are grateful for his service.

Mary Strickland

Chair, Madison Development Corporation Board of Directors

2015 Annual Meeting Message

The goal of Madison Development Corporation (MDC) is to provide quality, self-sustaining jobs through loans to small and innovative businesses. MDC also provides affordable housing for Madison and Dane County residents.

MDC’s lending programs have provided capital to both traditional small businesses and cutting edge technology companies. With access to capital still difficult for small businesses, MDC plays an important and necessary role in providing funding to these individuals and companies. As Dane County’s economy continues to grow, job creation is critical. The impact that MDC borrowers have is substantial with over 775 employees and 185 new hires in 2014. MDC borrowers include individuals pursuing the dream of owning a business as well as companies with the vision and technology that could become the next big breakthrough. MDC has also been successful in targeting women, minority and disadvantaged businesses. Most of these firms have a very difficult time accessing capital. Many MDC funded businesses have had great success and become major Dane County employers.

Apartment rents in Dane County have increased such that housing for many residents is no longer affordable. The property management team and entire staff at MDC have worked hard to provide quality, affordable housing options. The success of the housing program is reflected in the high number of residents served who have income levels of less than 50% of the median income level. Housing is critical for the economic self-sufficiency of our residents.

MDC has also expanded its housing in the South Park Street neighborhood. We have recently completed a new housing development of 11 townhouse apartments which will provide much needed new housing in this neighborhood. With the addition of the most recent units, MDC has the opportunity to further its positive impact in the neighborhood by transitioning poorly managed and maintained housing into much needed quality apartments. We are also working on a major new housing development to provide affordable apartments downtown. 

Frank and the entire staff have shown passion and energy to continue the mission of MDC for the betterment of our community. Their vision for MDC has led to new avenues for growth and options to provide valuable services to our customers and residents. Frank and the staff have strategically positioned MDC for the future by taking advantage of long term, low interest rate financing.

I would personally like to thank the Board for their time and commitment to MDC. Special thanks are also extended to Director Mark Taber for his service on the Board. His lending expertise will be especially missed after his Board term expires this June.

Mary Strickland - Chair, Madison Development Corporation Board of Directors

2014 MDC Chair of Board of Directors Message

Madison Development Corporation (MDC’s) goal is to provide quality, self-sustaining jobs through loans to small businesses and innovative businesses. MDC also provides affordable housing for Madison and Dane County residents. 

MDC’s lending programs have provided capital to both traditional small businesses and cutting edge technology companies. With access to capital still difficult for small businesses, MDC plays an important and necessary role in providing funding to these individuals and companies. As Dane County’s economy continues to grow, job creation is critical. The impact that MDC borrowers have is substantial with over 708 employees and 119 new hires in 2013. MDC borrowers include individuals pursuing the dream of owning a business as well as companies with the vision and technology that could become the next big breakthrough. MDC also targets women, minority and disadvantaged businesses. Most of these firms have a very difficult time accessing capital. Many MDC funded businesses have had great success and become major Dane County employers.

Apartment rents in Dane County have increased such that housing for many residents is no longer affordable. The property management team and entire staff at MDC have worked hard to provide quality, affordable housing options. The success of the housing program is reflected in the high number of residents served who have income levels of less than 50% of the median income level. Housing is critical for the economic self-sufficiency of our residents.

MDC has also expanded its housing in the South Park Street neighborhood. We have recently broken ground on a new housing development which will provide much needed new housing in this neighborhood. With the addition of the most recent units, MDC has the opportunity to further its positive impact in the neighborhood by transitioning poorly managed and maintained housing into much needed quality apartments.

Frank and the entire staff have shown passion and energy to continue the mission of MDC for the betterment of our community. Their vision for MDC has led to new avenues for growth and options to provide valuable services to our customers and residents. Frank and the staff have strategically positioned MDC for the future by taking advantage of long term, low interest rate financing.

I would personally like to thank the Board for their time and commitment to MDC. Special thanks are also extended to former Directors: Ruth Ann Schoer, Joan Phillip and County Supervisor Jeff Pertl for their service on the Board. Ruth Ann was a long term MDC Board member and a tireless advocate for the disadvantaged residents of our community.

Mary Strickland - Chair, Madison Development Corporation Board of Directors