NUMB:
970864
VERS:
ORIGINAL
REF:
XXBY:
ALD. HINES AND GORDON
TITL:
Resolution authorizing the City of Milwaukee, Department of City Development to apply to the U.S. Department of Housing and Urban Development for a Homeownership Zone Program Grant.
ANLS:
- Analysis -
This resolution authorizes the Department of City Development to apply to HUD for a grant of up to $5 million, which would be used to implement a Homeownership Zone Program in the Midtown neighborhood. Grant funds will be used to create new homeownership opportunities for families with a wide range of incomes.
BODY:
Whereas, The U.S. Department of Housing and Urban Development ("HUD") will award up to $10 million in grants to cities across the nation under its Homeownership Zone Program; and
Whereas, The Homeownership Zone Program is a HUD program that facilitates public-private cooperation in focusing home rehabilitation and construction efforts in designated urban areas in order to increase homeownership opportunities for low and middle-income families; and
Whereas, The City of Milwaukee is eligible to make application for grant funds from HUD for the Homeownership Zone Program; and
Whereas, The operation of this grant program over the estimated 5-year life of the program would cost up to $5 million in grant funds; and
Whereas, The grant application is due in Washington, D.C. on September 30, 1997; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the Department of City Development ("DCD") is authorized to submit to the U.S. Department of Housing and Urban Development an application for a $5 million grant to be used for a Homeownership Zone Program in Milwaukee; and, be it
Further Resolved, That upon the receipt of a grant, not to exceed $5 million, DCD shall obtain Common Council authorization to receive the grant funds and to implement the program in accordance with the terms of the contract with the granting agency; ...
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