Number
240971
Version
ORIGINAL
Reference
240360, 240864
Sponsor
ALD. PEREZ, DIMITRIJEVIC, BURGELIS, BROSTOFF, TAYLOR, MOORE AND ZAMARRIPA
Title
Resolution relating to the reallocation and expenditure of $250,000 of American Rescue Plan Act funds for the Down Payment Assistance Program.
Analysis
This resolution reallocates $250,000 of American Rescue Plan Act funds that were identified by the City’s ARPA Director as expected to be available for reprogramming before the end of 2024 to the Department of City Development and authorizes their expenditure for the Down Payment Assistance Program.
Body
Whereas, In a memo to the Finance and Personnel Committee dated September 18, 2024 and attached to Common Council File Number 240360, the City’s American Rescue Plan Act Director identified $902,704 of ARPA funding that was expected to be available for reprogramming before the end of 2024; and
Whereas, ARPA funding must be under contract by December 31, 2024 and fully spent by December 31, 2026; and
Whereas, The Department of City Development administers the Down Payment Assistance Program; and
Whereas, The reallocation of $250,000 of the $902,704 for the Down Payment Assistance Program was originally part of Common Council File Number 240864; and
Whereas, At the October 15, 2024 Common Council meeting, this reallocation was divided from Common Council File Number 240864; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that $250,000 of American Rescue Plan Act allocations identified in the ARPA Director’s September 18, 2024 memo, which identified funds available for reprogramming, are rescinded and reallocated to the Department of City Development for the Down Payment Assistance Program; and, be it
Further Resolved, That the City Comptroller is authorized to establish and adjust the necessary accounts and accounting procedures to carry out the intent of this resolution; and, be it
Further Resolved, That the Department of...
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