Number
140397
Version
ORIGINAL
Reference
Sponsor
ALD. BAUMAN
Title
An ordinance relating to the purposes and objectives of the housing infrastructure preservation fund.
Sections
304-31 .5-2 am
Analysis
This ordinance provides that the city seeks to support the preservation of mixed-use properties, as well as residential properties, with the housing infrastructure preservation fund.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 304-31.5-2 of the code is amended to read:
304-31.5. Housing Infrastructure Preservation Fund.
2. PURPOSES AND OBJECTIVES. The city seeks to preserve surplus, city-owned improved residential >>and mixed-use<< properties that are not habitable in their current condition and are unlikely to be restored by private purchasers, but are worthy of restoration or rehabilitation because of such factors as neighborhood context, architectural characteristics or quality, or historic status of the structures or their neighborhoods. To that end, s. 304-49-2-b-3 calls for each property of this type to be either restored or rehabilitated by the city, the housing authority, the redevelopment authority or another public entity or mothballed or landbanked by the city. The purpose of the housing infrastructure preservation fund is to provide a permanent, dedicated funding source to finance city property restoration and mothballing activities described in s. 304-49-2-b-3.
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
LRB152896-1
Jeff Osterman
06/09/2014
Clerical Corrections 7/16/14 Chris Lee