Number
220969
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. PEREZ AND DIMITRIJEVIC
Title
Substitute resolution relating to the allocation of funds from the Housing Trust Fund.
Analysis
This resolution authorizes the award of $10.7 million from the Housing Trust Fund for 14 housing projects.
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 on July 25, 2022, for the categories of Homelessness ($2,675,000), Rental Housing ($3,745,000) and Homeownership ($2,675,000) and Other Needs as Identified ($1,605,000); for a total amount available of $10,700,000. CDGA received 27 funding requests by the August 12, 2022 deadline; and
Whereas, CDGA staff, and the Technical Review Subcommittee met on October 26, 2022, November 3, 2022, November 11, 2022, November 17, 2022, and the Housing Trust Fund Advisory Board, met on November 30, 2022, and reviewed the funding applications, and recommended funding for 12 projects totaling $8,833,765 as listed in Attachment A; and
Whereas, By amendment at a special meeting of the Zoning, Neighborhoods, and Development Committee on December 13, 2022, two additional projects valued at $1.866 million were added to this recommendation, now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the award of $10.7 million from the American Rescue Plan Act or Housing Trust Fund Capital Improvement Account to the 14 projects listed in Attachment A is approved; and, be it
Further Resolved, That each organization awarded shall comply with the Housing Trust Fund Advisory Board’s policies and procedures and the American Rescue Plan Act regulation; and, be it
Further Resolved, That each of these Housing Trust Fund awards are subject to the successful negotiations of the term sheet with the City of Milwaukee; and, be it
Further Resolved, That upon the agreement of the term sheet, CDGA is hereby authorized to execute contracts for the awards as listed on Attachment A.
Requestor
Drafter
CDGA-HsgTrust-2022
12/01/22
James R. Owczarski
December 12, 2022