Number
221321
Version
substitute 1
Reference
130940
Sponsor
ALD. COGGS
Title
Substitute resolution relating to the maximum estimated costs to correct code violations for any one property to be eligible under the Compliance Loan Program administered by the Department Neighborhood of Services.
Analysis
This resolution amends Resolution File Number 130940, adopted by the Common Council on February 11, 2014, creating the Compliance Loan Program administered by the Department of Neighborhood Services, by increasing the loan limit to correct code violations per property from $15,000 to $25,000.
Body
Whereas, The Common Council adopted Resolution File Number 130940 on February 11, 2014, creating a pilot Compliance Loan Program to be administered by the Department of Neighborhood Services; and
Whereas, The resolution limits loans to correct code violations under the program to $15,000 for any one property; and
Whereas, House repair costs have increased since 2014 to the point costs to comply with code violation orders issued by the Department of Neighborhood Services often exceed the $15,000 Compliance Loan Program limit; and
Whereas, It is expected increasing the Loan Compliance Loan limit from $15,000 to $25,000 will enable more residents to complete the house repairs needed to comply with city code; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that Common Council File Number 130940 is amended by replacing the fifth “Further Resolved” clause with the following:
“Further Resolved, That if DNS determines that the estimated cost to the City to correct the code violations does not exceed $25,000 for any one property and that the owner is willing to enter into a written loan agreement to provide the City with a mortgage against the property to secure payment to the City, then DNS may, at its discretion, and subject to fund availability, cause the City to enter into a loan agreement with the owner and to accept and recor...
Click here for full text