| 6/18/2026 | 0 |
FINANCE & PERSONNEL COMMITTEE
| RECOMMENDED FOR PLACING ON FILE
Minutes note: Appearing:
Benjamin Sanchez, DCD
Sreela Srinivasan, DOA
Kristen Hennessy, DER
A presentation was given relating to purpose of the E-DPA program, the residency gap, Milwaukee housing context, downpayment scenarios for different pricing ranges, downpayment assistance program provided by peer cities and counties, common down payment assistance requirements across cities and counties, examples of down payment assistance program provided by private sector entitites, options for consideration (forgivable loan, shared equity, hybrid - closing cost grant and shared equity), options comparison table, and recommendation (option 1 - forgivable loan).
There was discussion and inquiry on a pilot program development (loan forgiveness mechanism, ineligibility factors, disciplinary actions), eligibility (income, homeownership requirements, general city employees, estimated number of recipients), barriers to employee city home investment, settlement, interest survey, data or research from peer cities on benefits and homeownership beyond program requirements, and residency incentive and impacts.
Ald. Moore added as a cosponsor.
Members requested for further infomation on various employee survey and residency data from DER. | Pass | 5:0 |
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