Number
392
Version
Original
Reference
Sponsor
The President
Title
Resolution approving the Amended and Restated Bylaws and Articles of Incorporation for Travaux, Inc.
Analysis
Body
WHEREAS, based on its 2022 Public Housing Assessment System (“PHAS”) Assessment (the “2022 PHAS Assessment”), the United States Department of Housing and Urban Development (“HUD”) required the Housing Authority of the City of Milwaukee (HACM) to execute a Recovery Agreement with HUD; and
WHEREAS, HACM and HUD entered into that Recovery Agreement dated January 31, 2025 (the “Recovery Agreement”); and
WHEREAS, the Recovery Agreement established certain performance standards and timelines and was developed based upon the 2024 Public Housing Agency Recovery and Sustainability (“PHARS”) Assessment results and determinations dated October 18, 2024 (the 2024 “PHARS Assessment”); and
WHEREAS, HACM and HUD also agreed to a Sustainability Plan with required tasks that were designed to assist in meeting the Recovery Agreement goals, and the Sustainability Plan included specific changes in instrumentality bylaws as described in Item GOV-04 of the Sustainability Plan; and
WHEREAS, proposed changes to the Bylaws and Articles of Incorporation (Articles) for Travaux, Inc. have been made to address HUD’s concerns and these changes were presented to the Travaux Board of Directors at their May 29, 2025 meeting; and
WHEREAS, HACM’s Board approved Amended and Restated Bylaws and Articles for Travaux, Inc. on June 24, 2025 by adoption of Resolution File No. R13605; and
WHEREAS, the Amended and Restated Bylaws and Articles, in the form approved by the HACM Board are on file with the Secretary; and
WHEREAS, the Amended and Restated Articles and Bylaws are recommended to the Travaux Board of Directors for approval; and
NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of Travaux, Inc. that the Amended and Restated Articles are hereby approved.
Requestor
Drafter
Housing Ma...
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