Number
130736
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. WADE
Title
A substitute ordinance relating to expenditures from the housing infrastructure preservation fund.
Sections
304-31.5-4 am
Analysis
This ordinance provides that total expenditures from the housing infrastructure preservation fund for a single property shall not exceed $100,000 unless approved by the special joint committee on the redevelopment of abandoned and foreclosed homes and by the common council.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 304-31.5-4 of the code is amended to read:
304-31.5. Housing Infrastructure Preservation Fund.
4. EXPENDITURES. The total expenditures from the housing infrastructure preservation fund for a fiscal year shall be authorized by the adopted city budget. The department of city development shall be authorized to expend these monies without further common council approval >>, except that total expenditures for a single property shall not exceed $100,000 unless approved by the special joint committee on the redevelopment of abandoned and foreclosed homes established by common council file number 080644, and by the common council<< .
Part 2. This ordinance takes effect January 1, 2014.
LRB
APPROVED AS TO FORM
__________________________
Legislative Reference Bureau
Date:______________________
Attorney
IT IS OUR OPINION THAT THE ORDINANCE
IS LEGAL AND ENFORCEABLE
__________________________
Office of the City Attorney
Date:______________________
Requestor
Drafter
LRB149441-4
Jeff Osterman
10/29/2013