The Rocket Community Fund and
MKE United, an initiative of the Greater Milwaukee Committee, have announced a $300,000 donation to its Anti-Displacement Fund to help protect homeowners in downtown-adjacent neighborhoods from displacement caused by increasing property taxes.
Established in 2019,
The Anti-Displacement Fund is a five-year pilot program through MKE United – a comprehensive planning project that includes representation from the Greater Milwaukee Committee, the City of Milwaukee, the Greater Milwaukee Urban League, the Greater Milwaukee Foundation, LISC Milwaukee and the Medical College of Wisconsin. The fund was created in response to community feedback surrounding rising property values due to new housing developments near downtown driving up housing costs on residents that live near downtown.
The Anti-Displacement Fund is available to eligible homeowners in five Milwaukee neighborhoods: Halyard Park, Brewers Hill, Harambee, Walker’s Point, and Clock Tower Acres. Residents must have owned a home in those neighborhoods since Jan. 1, 2015, or have inherited it from a family member, be current on their real estate tax payment, and meet income thresholds.
The program is aligned with the City of Milwaukee’s Anti-Displacement Plan.
Rocket Community Fund
The single largest gift to the program to date,
Rocket Community Fund’s investment will help maintain the strength of these neighborhoods and support legacy homeowners who are committed to their communities.
“We are grateful that the Rocket Community Fund is growing the Anti-Displacement Fund and supporting thoughtful community growth,” said Joel Brennan, president of the Greater Milwaukee Committee. “The generous gift moves us one step closer to our goal of offering this program for a total of 15 years. The fund keeps a promise to residents that they can remain in their homes and continue to strengthen and solidify Milwaukee neighborhoods.”
The $300,000 donation follows a 2022 donation that saw the Rocket Community Fund invest $460,000 to support a comprehensive parcel survey in collaboration with the Reclaiming Our Neighborhoods Coalition and several grassroots partners to evaluate housing conditions across 15 Milwaukee neighborhoods. A program of the Medical College of Wisconsin’s Advancing a Healthier Wisconsin Endowment, the coalition conducts housing surveys and has been a link for neighborhood residents to connect to resources to not only improve their housing conditions, but also to connect to health and social services to address other needs.
The philanthropic arm of Rocket Companies, which includes Rocket Mortgage, the Rocket Community Fund has made philanthropic investments in Detroit, Cleveland, Atlanta, and Milwaukee. And the donation to builds on the Detroit-based organization’s commitment to helping Americans access and maintain stable, healthy housing, a press release states.
“At the Rocket Community Fund, we believe that safe and stable housing is essential to building strong communities,” said Laura Grannemann, executive director of the Rocket Community Fund. “As part of our continued commitment to Milwaukee, we are honored to support the Anti-Displacement Fund, which is keeping longtime residents in their homes and enabling them to benefit, rather than be burdened, by the city’s continued growth.”
Anti-Displacement Fund
In its first year after launch in 2020, the Anti-Displacement fund disbursed $38,856 in tax assistance payments, a number that grew to $91,941 in 2021. Of the 321 eligible homeowners up to the present day, none have been forced to sell their homes due to property tax burdens.
Milwaukee Mayor Cavalier Johnson expressed his support for Rocket Community Fund’s donation to Anti-Displacement Fund.
"We applaud the Rocket Community Fund donation and the philanthropic community for stepping up and filling a gap where local government is expressly prohibited from intervening," said Johnson. "Over the past four years, many homeowners have been helped by this fund, and I encourage other cities in Wisconsin and beyond to explore a similar approach."
Denise Ward, a 62-year-old retired and disabled resident of the Bronzeville neighborhood, is one of the beneficiaries of the Anti-Displacement Fund. She's been part of the program since its inception four years ago and has called Milwaukee her home for 23 years. Denise cherishes her community and expressed gratitude for the program's support in her neighborhood.
"The program has been valuable in alleviating my tax burden and ensuring I can continue living in my beloved home,” Ward said. "Whether you're facing financial challenges or navigating homeownership solo, they provide essential assistance. It's a vital resource for our community.”
The Greater Milwaukee Committee plans to extend the program's lifespan beyond its initial five-year pilot period. Additional supporters include American Family Insurance, Bader Philanthropies, Dohmen Company Foundation, Greater Milwaukee Foundation, Greater Milwaukee Urban League, Kohl Philanthropies, Medical College of Wisconsin and Milwaukee Bucks Foundation.
