Number
050391
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. DAVIS
Title
Substitute resolution relative to the return of CDBG and HOME funding for CCTR Group, Inc.
Analysis
Body
Whereas, The CCTR Group, Inc. was previously awarded CDBG funds in the amount of $25,000 for each year 2002 and 2003 and HOME funds in the amount of $400,000 in 2001 and $400,000 in 2002; and
Whereas, The CCTR Group, Inc. was initially funded to rehab existing or construct new housing units. The estimated goal was 16 units. To date only 5 units have been completed. CCTR has demonstrated that they are incapable of completing the remaining units; and
Whereas, The Community and Economic Development Committee recommends approval of the rescission of the remaining balance in CDBG funding in the amount of $8,102.00 and HOME funding in the amount of $471,928.00; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, That the rescission of the CDBG and HOME funding remaining balances as stated above is approved; and, be it
Further Resolved, That the remaining balances are returned to the CDBG Contingency account and HOME Contingency account.
Requestor
Drafter
CBGA-CCTR
07/06/05