Number
150238
Version
SUBSTITUTE 1
Reference
141256
Sponsor
ALD. BOHL
Title
Substitute resolution approving development teams to receive funding under the Strong Neighborhoods Challenge Grant Fund and authorizing the Department of City Development to enter into Sale and Development Agreements for the purpose of implementing activities under the Challenge Grant Fund Program.
Analysis
This substitute resolution approves the development teams to receive funding under the Challenge Grant Fund Program and authorizes the City to enter into Sale and Development Agreements to carry out the objectives of the Challenge Grant Fund Program for the purpose of acquiring and redeveloping City tax foreclosed properties in a targeted neighborhood strategy.
Body
Whereas, The City of Milwaukee (“City”) has experienced a significant increase in the number of properties it has acquired through the tax foreclosure process and currently owns over 1,100 tax foreclosed properties; and
Whereas, On December 16, 2014, the Common Council of the City of Milwaukee adopted File No. 141256, which approved a Request for Qualifications (“RFQ”) for the Challenge Grant Fund Program (“CGFP”) relating to the Milwaukee Housing Opportunities, Management and Employment Program (“HOME” Program) to solicit the interest of community development organizations and private development firms to acquire and renovate City-owned tax foreclosed properties for affordable homeownership and rental opportunities; and
Whereas, $1,000,000 in funding was appropriated in the 2015 Strong Neighborhoods Budget for the purpose of supporting activities under the CGFP; and
Whereas, The Department of City Development (“DCD”) issued the RFQ on March 3, 2015 and received 15 responses from interested development teams; and
Whereas, The responses were evaluated and reviewed consistent with the scoring guidelines contained in the RFQ, as well as the funding available for CGFP activities; now, therefore, be it
Resolved,...
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