Number
241075
Version
SUBSTITUTE 1
Reference
Sponsor
ALD STAMPER
Title
Substitute resolution relative to allocating funds from the HOME CHDO Pool.
Analysis
This resolution authorizes the Community Development Grants Administration to reallocate HOME funds set-aside in the CHDO Housing Pool, whose primary use is for the creation of affordable housing units.
Body
Whereas, CDGA has CHDO/HOME funding in a CHDO Housing Pool, in the amount of $500,000; and
Whereas, CDGA received request in the 2025 Request for Proposal that could not be fully awarded with the anticipated 2025 HOME allocation; and
Whereas, CDGA is requesting authorization to fund the two Certified CHDO applicants the remaining amount of their request, as identified in Attachment A, from the CHDO Housing Pool, now therefore, be it
Resolved, That the Common Council of the City of Milwaukee hereby approves the reallocation of CHDO/HOME funds from the CHDO Housing Pool to the agencies listed in Attachment A; and, be it
Further Resolved, That funded agencies shall submit budget and activity reports in amounts and according to any conditions approved by the Common Council and in accordance with File Number 74-92-5v, to the Community Development Grants Administration and the City Comptroller for review and approval; and, be it
Further Resolved, that payments for HOME costs incurred shall be paid in accordance with approved HOME reimbursement policy based on the approval by the Community Development Grants Administration and the City Comptroller; and, be it
Further Resolved, That except as modified by this resolution, the guidelines for handling the Community Development Block Grant Program set forth in Common Council File Number 74-92-5v are fully applicable to the Community Development Entitlement Funding Program.
Requestor
Drafter
CDGA-CHDO Pool
Mario Higgins
11/08/24