Number
180808
Version
ORIGINAL
Reference
141256, 150238
Sponsor
ALD. HAMILTON
Title
Resolution approving a Strong Neighborhoods Challenge Grant Fund Program grant to Pastors United Milwaukee.
Analysis
This resolution approves a grant of up to $240,000 to Pastors United Milwaukee to provide gap financing for the purchase and renovation of six City-owned tax foreclosed properties in the Garden Homes neighborhood.
Body
Whereas, On December 16, 2014, the Common Council of the City of Milwaukee (“Common Council”) adopted File No. 141256, which approved a Request for Qualifications (“RFQ”) for the Challenge Grant Fund Program (“CGFP”) to solicit interest from community development organizations and private development firms to acquire and renovate City-owned tax foreclosed properties (“in rem properties”) for affordable homeownership and rental opportunities in concentrated geographic areas; and
Whereas, $1,000,000 in funding was appropriated in the 2015 Strong Neighborhoods budget to establish CGFP as a pilot program; and
Whereas, On June 23, 2015, the Common Council adopted File No. 150238 that awarded CGFP grants to two organizations chosen through a competitive process, with the goal that each organization would redevelop fifteen tax foreclosed properties in a 12-month period; and
Whereas, Northwest Side Community Development Corporation (“NWSCDC”) received a CGFP grant to develop properties in neighborhoods abutting the Century City business park (“Century City”), but it has been unable to complete the project; and
Whereas, Pastors United Milwaukee (“Pastors United”), a registered 501(c)(3) non-profit organization, has established a buy/rehabilitate/resell housing program that redevelops in rem properties and provides financial counseling to first-time homebuyers who wish to purchase the renovated homes; and
Whereas, Pastors United wishes to purchase and renovate six in rem properties in the Garden Homes neighborhood adjacent to Century City and se...
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