NUMB:
981040
VERS:
SUBSTITUTE 1
REF:
971457
XXBY:
ALD. PRATT
TITL:
Substitute resolution approving an increase in the program and administrative budget for the 1998 Greenline Program and authorizing transfer of the Greenline loan portfolio and other unobligated assets to the Neighborhood Improvement Development Corporation. (DCD)
ANLS:
- Analysis -
This resolution amends the program and administrative budget for the 1998 Greenline Program and authorizes the transfer of Greenline assets and liabilities to NIDC at the close of the 1998 year.
BODY:
Whereas, Common Council File No. 950697, adopted November 28, 1995, authorized the Department of City Development ("DCD") to enter into a contract with the Class Committee from the American Family litigation concerning the City of Milwaukee's ("City") administration and management of various community-based relief programs (a.k.a. the Greenline Program) that involve making loans and grants using American Family settlement dollars to promote homeownership, maintenance and improvement in a specific area of the City which was the subject of the American Family litigation alleging discriminatory redlining practices with respect to the offering of insurance services; and
Whereas, Common Council File No. 960824, adopted September 24, 1996, authorized the Commissioner of DCD to agree to certain changes, including future changes, in the Greenline Program if the changes are also agreed to by the Class Committee and the U.S. Department of Justice and left all other provisions and directives of Common Council File No. 950697 in full force and effect; and
Whereas, Common Council File No. 950697 requires that the administrative and program budgets for the Greenline Program be subject to annual review and approval of the Common Council and that requirement remains in full force and effect; and
Whereas, Common Council File No. 971457, adopted March 13, 1998, approved administrative and program budgets...
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