Number
13612
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving amended and restated Bylaws and Articles of Incorporation for Crucible, Inc
Analysis
Body
WHEREAS, based on its 2022 Public Housing Assessment System (“PHAS”) Assessment (the “2022 PHAS Assessment”), the United States Department of Housing and Urban Development (“HUD”) required the Housing Authority of the City of Milwaukee (HACM) to execute a Recovery Agreement with HUD; and
WHEREAS, HACM and HUD entered into that Recovery Agreement dated January 31, 2025 (the “Recovery Agreement”); and
WHEREAS, the Recovery Agreement established certain performance standards and timelines and was developed based upon the 2024 Public Housing Agency Recovery and Sustainability (“PHARS”) Assessment results and determinations dated October 18, 2024 (the 2024 “PHARS Assessment”); and
WHEREAS, HACM and HUD also agreed to a Sustainability Plan with required tasks that were designed to assist in meeting the Recovery Agreement goals, and the Sustainability Plan included specific changes in instrumentality bylaws as described in Item GOV-04 of the Sustainability Plan; and
WHEREAS, proposed changes to the Bylaws and Articles of Incorporation (Articles) for Crucible, Inc. have been made to address HUD’s concerns; and
WHEREAS, the Amended and Restated Bylaws and the Amended and Restated Articles of Incorporation are recommended to the HACM Board of Commissioners for their review and approval; and
WHEREAS, immediately following the adoption of this Resolution, the Amended and Restated Bylaws and Amended and Restated Articles will be submitted to HUD for review and approval; and
NOW, THEREFORE, BE IT RESOLVED, by the Commissioners of the Housing Authority of the City of Milwaukee that the Amended and Restated Bylaws and the Amended and Restated Articles are hereby approved; and be it
FURTHER RESOLVED, that the Secretary-Executive Director is authorized and directed to submit the Amend...
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