Number
260063
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing a loan up to $500,000 from RACM’s EPA Brownfield Revolving Loan Fund to Austin Commons, LLC or an agreed upon affiliate to be used on the properties at 2318 - 2332 South Austin Street, Milwaukee, Wisconsin.
Analysis
Body
Whereas, the Environmental Protection Agency (EPA) has awarded $17.35 million dollars in total Brownfield Revolving Loan Fund (BRLF) funding to the Authority for the purpose of making loans and subgrants in support of environmental cleanup on brownfield properties in Milwaukee; and
Whereas, the properties at 2318 - 2332 South Austin Street, Milwaukee, Wisconsin are located on approximately 1.1 acres and have been determined to be blighted through the adoption of TID No. 134 (Austin Commons) (RACM Resolution No 11074); and
Whereas, the property is blighted by the contamination of petroleum volatile organic compounds (PVOCs), metals, and polycyclic aromatic hydrocarbons (PAHs) in the soil and groundwater, and requires remediation; and
Whereas, Austin Commons, LLC, or an agreed upon affiliate, is proposing to construct an affordable housing development project with a total estimated investment of approximately $33.4 million; and
Whereas, the Authority has EPA BRLF funds available that could help ensure project feasibility; and
Whereas, the term sheet attached hereto contemplates the Authority and Austin Commons, LLC, or an agreed upon affiliate, entering into a loan agreement of up to $500,000 for environmental remediation; and
Whereas, to comply with federal National Environmental Policy Act (NEPA) requirements, loan recipients must consider the advantages and disadvantages of various remedial options, consider public comments, and choose a preferred remedial option; and
Whereas, the Analysis of Brownfield Cleanup Alternatives (ABCA) for the 2318 - 2332 South Austin Street site proposes a preferred remedial option of limited soil excavation and off-site disposal with engineering and institutional controls; and
Whereas, this option has been chosen as the preferred remedial option in the ABCA because it protects human health and the environment and will also efficiently prepare the site for a future redevelopment; now therefore, be it
Resolved, By the Redevelopment Authority of the City of Milwaukee that the Authority is authorized to provide a loan up to $500,000 from its EPA Revolving Loan Fund to Austin Commons, LLC, or an agreed upon affiliate, for site remediation; and be it
Further Resolved, that the preferred remedial option for the property identified in the attached ABCA is authorized; and be it
Further Resolved, That the proper officers of the Redevelopment Authority are authorized and directed to take all necessary actions and provide necessary assistance needed to carry out the intent and purpose of this resolution and Term Sheet.
Requestor
Drafter
David Misky May 6, 2026