Number
120865
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution relating to the allocation of funds from the Housing Trust Fund.
Analysis
As authorized by the City of Milwaukee’s Housing Trust Fund Advisory Board, the Community Development Grants Administration released Requests for Proposals for affordable housing projects on July 19, 2012. Based upon funding applications submitted by the August 9, 2012 deadline, the Advisory Board is recommending the Common Council approve funding 6 projects totaling $830,391 from the Housing Trust Fund - Capital Improvement Account in the amount of $440,391 and Special Purpose Account in the amount of $390,000.
Body
Whereas, On November 14, 2006, the City of Milwaukee Common Council adopted File Number 041537, an ordinance relating to the establishment, operation and funding of a City of Milwaukee Housing Trust Fund; and
Whereas, On September 26, 2006, the Common Council adopted File Number 060071, a resolution relating to the recommendations of the Milwaukee Housing Trust Fund Task Force for the operation and funding of a Housing Trust Fund, which included provisions that Housing Trust Fund dollars should be allocated in 3 categories: housing and services for persons who are homeless, development or rehabilitation of affordable rental housing, and creation or maintenance of home ownership activities; and
Whereas, As authorized by the Housing Trust Fund Advisory Board, the Community Development Grants Administration (CDGA) released Request-for-Proposals in July, 2012 for the categories of Homelessness ($207,598), Rental ($290,637) and Homeownership ($207,598) and Other Needs as Identified ($124,558) for a total amount available of $830,391. CDGA received 16 funding requests by the August 9, 2012 deadline; and
Whereas, CDGA staff, the Technical Review Subcommittee and the Housing Trust Fund Advisory Board, met on September 28, 2012 and October 8, 2012 respectively and reviewed the funding applicat...
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