Number
260872
Version
ORIGINAL
Reference
200001, 250838, 260871
Sponsor
THE CHAIR
Title
Resolution relating to the transfer of funds to the Homes MKE capital account administered by the Department of City Development from the Partnerships in Affordable Ownership Housing.
Analysis
This resolution provides funding to a new Homes MKE capital account, administered by the Department of City Development. The Homes MKE program will support the rehabilitation of city-owned tax foreclosed properties for home ownership. This resolution also transfers $600,000 from the Partnerships in Affordable Ownership Housing account in the Department of City Development to the Homes MKE account and authorizes the Department of City Development to enter into any contracts and agreements necessary to expend the funds for the purposes of the Homes MKE program.
Body
Whereas, The Common Council adopted the City of Milwaukee’s 2021 Budget via File No. 200001 on November 24, 2020; and
Whereas, The 2021 City of Milwaukee Adopted Budget included a budget amendment creating a Partnerships in Affordable Ownership Housing and Alternatives to Home Ownership Initiative capital account to develop affordable housing units in Milwaukee, and allocated funding from an expiring tax incremental district for these purposes; and
Whereas, File No. 250838, adopted by the Common Council on September 23, 2025 allocated up to $500,000 from the Partnerships in Affordable Ownership Housing Initiative fund to reimburse the Department of Neighborhood Services for providing eligible homeowners with deferred payment loans to assist with needed emergency repairs caused by the flood emergency of August 2025, and those funds were ultimately not needed after FEMA funding was provided to impacted homeowners; and
Whereas, The Department of City Development has an established track record of administering programs to provide development incentives to developers carrying out the rehabilitation of tax foreclosed i...
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