Number
080216
Version
ORIGINAL
Reference
Sponsor
ALD. MURPHY
Title
Resolution authorizing the acceptance and expenditure of up to $250,000 in private contributions by the Department of Administration, Community Development Grants Administration Division for the Housing Trust Fund.
Analysis
This resolution authorizes the Department of Administration, Community Development Grants Administration Division to accept and expend contributions for the City of Milwaukee's Housing Trust Fund in an amount up to $250,000 for housing purposes in accordance with Chapter 316, Milwaukee Code of Ordinances, which governs the operation and funding of the Housing Trust Fund.
Body
Whereas, Section 304-24 of the City of Milwaukee Code of Ordinances regulates the receipt, appropriation and expenditure of contributions received by the City; and
Whereas, There are organizations interested in making contributions to the City of Milwaukee's Housing Trust Fund; and
Whereas, It is in the City's best interest to augment sources of trust fund revenue to achieve the goal of acquisition, construction, rehabilitation and modification of affordable and accessible housing for low-income households; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, the Department of Administration, Community Development Grants Administration Division is authorized to accept up to $250,000 in private contributions associated with the City of Milwaukee's Housing Trust Fund; and, be it
Further Resolved, That upon receipt and deposit of these funds, the City Comptroller is directed to establish a special account with the Department of Administration for the expenditure of the funds; and, be it
Further Resolved, That the City Comptroller is authorized and directed to transfer appropriations from the special Purpose Account-Contributions, 0001-2110-0001-D000-006300, and the estimated revenue from the Estimated Revenue Account-Contributions, 0001-9990-0001-009850 to the Department of Administration special account, 0001-1510-0001-006300-Dxxx and the Department of Administration Estimated Revenue Account, 0001-1510-0001-009850, up to the amount actually received, but no more than $250,000; and, be it
Further Resolved, That the Department of Administration, Community Development Grants Administration is authorized to expend funds actually received for housing purposes associated with the City of Milwaukee's Housing Trust Fund in accordance with Chapter 316, Milwaukee Code of Ordinances, which governs the operation and funding of the Housing Trust Fund, but not to exceed $250,000.
Requestor
Drafter
LRB08243-1
MET
5/29/08