NUMB:
921439
VERS:
ORIGINAL
XXBY:
THE CHAIR
TITL:
Resolution designating certain residential properties owned by ESHAC, Inc. as a blighted property for the purpose of eliminating its status as blighted property pursuant to Section 66.431, Wisconsin Statutes. (Department of City Development)
ANLS:
- Analysis -
Adoption of this resolution will enable ESHAC, Inc. to apply for financial assistance from the Redevelopment Authority and provide rental or member housing for low and moderate income tenants under the Housing Partnership Corporation Revolving Loan Fund (the "Program") pursuant to the provisions of Section 66.431, Wisconsin Statutes.
BODY:
Whereas, Section 66.431(5)(c)1., Wisconsin Statutes, provides that "The Authority may assist private acquisition, improvement and development of blighted property for the purpose of eliminating its status as blighted property, and for that purpose, the Authority shall have all the duties, rights, powers and privileges given to the Authority under this section, as if it had acquired the blighted property."; and
Whereas, The Redevelopment Authority has issued its Redevelopment Revenue Refunding Bonds and authorized use of the proceeds of said bond issue to participate in the Housing Partnership Corporation Revolving Loan Fund (the "Program"), a loan program to finance rental or member housing for low and moderate income tenants; and
Whereas, ESHAC, Inc. has requested approval of rehabilitation loans for said property pursuant to said "Program"; and
Whereas, On December 17, 1992, the Redevelopment Authority determined that the properties set forth below are blighted pursuant to Section 66.431, Wisconsin Statutes; and
Whereas, The Redevelopment Authority has requested the approval of the Common Council with respect to said determination; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the following properties are determined to be blighted in accorda...
Click here for full text