City of Milwaukee - File #: 080644

• File #: 080644
• Version: 2
• Type: Resolution
• Status: Passed
• File created: 9/2/2008
• In control: ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE
• Final action: 9/12/2008
• Title: Substitute resolution establishing a Special Joint Committee on Redevelopment of Abandoned and Foreclosed Homes to plan for administration of emergency assistance available under Title III of the federal Housing and Economic Recovery Act of 2008.
• Sponsors: ALD. BAUMAN, ALD. DAVIS
• Indexes: FEDERAL GRANTS, HOUSING

Date	Ver.	Action By	Action	Result	Tally
9/23/2008	2	MAYOR	SIGNED
9/12/2008	2	CITY CLERK	Sponsor added; Minutes note: Ald. Davis added as a sponsor on the Council Floor - LME
9/12/2008	2	CITY CLERK	DRAFT SUBMITTED
9/12/2008	2	COMMON COUNCIL	ADOPTED	Pass	14:1
9/12/2008	1	COMMON COUNCIL	SUBSTITUTED	Pass	15:0
9/12/2008	1	COMMON COUNCIL	TAKEN FROM COMMITTEE; Minutes note: Alderman Davis asked to be added as a sponsor.	Pass	12:3
9/2/2008	0	COMMON COUNCIL	ASSIGNED TO

Number
080644
Version
SUBSTITUTE 2
Reference

Sponsor
ALD. BAUMAN and DAVIS
Title
Substitute resolution establishing a Special Joint Committee on Redevelopment of Abandoned and Foreclosed Homes to plan for administration of emergency assistance available under Title III of the federal Housing and Economic Recovery Act of 2008.
Analysis
This resolution establishes a Special Joint Committee on Redevelopment of Abandoned and Foreclosed Homes composed of 3 members to be appointed by the Mayor and 3 members to be appointed by the President of the Common Council. The Mayor and the President of the Common Council shall each designate one appointee as Co-Chair of the committee. Staff support will be provided by the City Clerk. The purpose of the committee is to coordinate efforts between administrative offices and the Common Council related to the receipt of emergency assistance from the federal government under the recently enacted Housing and Economic Recovery Act of 2008 (the Act) which passed Congress and was signed by the President on July 30, 2008 (HR 3221).

Title III of the Act provides nearly $4 billion in funding for redevelopment of abandoned and foreclosed homes to be distributed to states and localities by a formula established by the Secretary of the United States Department of Housing and Development through the Department’s Community Development Block Grant (CDBG) program.

The Act provides that the formula for distribution be announced within 60 days of enactment and that funds be distributed within 30 days of the announcement. Funds may therefore become available to the City of Milwaukee as early as November 1, 2008, for expenditure in 2008 and for budgeting and expenditure in 2009.

The Act also provides that the eligible uses for this federal emergency funding include: a) financing mechanisms for the purchase of foreclosed and residential properties by low- and moderate-income homebuyers; b) purchase and rehabilitation of homes and residenti...