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File #: 140550    Version:
Type: Resolution Status: Passed
File created: 7/22/2014 In control: COMMON COUNCIL
On agenda: Final action: 10/14/2014
Effective date:    
Title: Substitute resolution creating and funding a pilot program to facilitate the sale of City-owned residential properties.
Sponsors: ALD. STAMPER, ALD. WADE, ALD. BAUMAN, ALD. COGGS, ALD. HAMILTON, ALD. MURPHY, ALD. DAVIS, ALD. BOHL, ALD. KOVAC, ALD. PEREZ
Attachments: 1. Executed Agreement, 2. Amendment No. 1, 3. RICH Program Sheet, 4. Hearing Notice List 9-16-14, 5. Hearing Notice List 10-7-14
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
10/23/20142 MAYOR SIGNED   Action details Meeting details Not available
10/14/20142 COMMON COUNCIL ADOPTEDPass14:0 Action details Meeting details Video Video
10/7/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE SUBSTITUTED

Minutes note: Individuals appearing: Maria Prioletta, Department of City Development Samuel Leichtling, Department of City Development Aaron Szopinski, Mayor's Office Ald. Russell Stamper, II, 15th Aldermanic District Ald. Wade moved substitution of the file with Proposed Substitute A. (Prevailed 5-0)
Pass5:0 Action details Meeting details Video Video
10/7/20142 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Individual appearing from the public to testify in support: Atty. Heiner Giese, Apartment Association of Southeastern Wisconsin lobbyist
Pass5:0 Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/30/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/16/20141 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HELD IN COMMITTEE

Minutes note: Indivduals appearing: Ald. Russell Stamper, II, 15th Aldermanic District Aaron Szopinski, Mayor's Office Mario Higgins, Mayor's Office Martha Brown, Department of City Development Ald. Stamper and Ms. Brown said that the file should be held to allow concerns to be addressed and for further collaboration regarding the proposed legislation. Ald. Kovac and Bohl added as cosponsors. Ald. Wade moved to hold in committee for one cycle. (Prevailed 5-0)
Pass5:0 Action details Meeting details Video Video
9/15/20141 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
9/12/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/12/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/12/20140 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
7/22/20140 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
140550

Version
substitute 2

Reference
131479, 130222

Sponsor
ALD. stamper, ALD. WADE, ALD. BAUMAN, ALD. COGGS, ALD. HAMILTON, ALD. MURPHY, ALD Davis, ALD. Bohl, ALD. KOVAC AND ALD PEREZ

Title
Substitute resolution creating and funding a pilot program to facilitate the sale of City-owned residential properties.

Analysis
This resolution creates and provides $600,000 in funding for the Re-Invest City Homes (“RICH”) program as a pilot program to facilitate the sale of City-owned single-family houses and duplexes in distressed neighborhoods to qualified buyers for $1 after rehabilitations are completed. Buyers will repay the City for the cost of property improvements in monthly installments at 1% interest for a term not to exceed 120 months as stipulated in the program sheet attached to this file.

The Neighborhood Improvement Development Corporation will qualify buyers and administer loans made through the RICH program as stipulated in the program sheet attached to this file.

Body
Whereas, The City owned 1,106 single-family houses and duplexes as of July 14, 2014, many in the most distressed census tracts of the city with high concentration of foreclosed, vacant and distressed properties; and

Whereas, High concentrations of owner-occupied housing tend to stabilize and improve distressed neighborhoods, reduce crime and promote family stability; and

Whereas, A pilot Re-Invest City Homes (“RICH”) program designed to finance and oversee rehabilitation of distressed, City-owned single-family houses and duplexes, and sell these rehabilitated properties for $1 to pioneering buyers eager to live in and improve the neighborhood will stabilize distressed communities; and

Whereas, Funding of $600,000 is available for this pilot program which will not affect other City services; and

Whereas, The 2014 Budget provided $1,900,000 for the Department City Development’s 2014 In Rem Property Program capital improvement project account; and

Whereas, ...

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