Number
150271
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. BAUMAN, WADE AND STAMPER
Title
Substitute resolution appropriating $250,000 in unused prior-year Department of City Development appropriations to the STRONG Homes Loan Program.
Analysis
This resolution transfers unused amounts of prior-year appropriations from Department of City Development accounts to provide an additional $250,000 to the STRONG Homes Loan Program.
Body
Whereas, The STRONG Homes Loan Program was funded at the level of $500,000 in the 2015 Budget as part of the In Rem Property Program of the Department of City Development’s Capital Budget; and
Whereas, The demand for loan funds from homeowners has exceeded the $500,000 appropriation; and
Whereas, Analysis of the Department of City Development’s various capital project and program accounts revealed unused appropriation balances from prior years; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City Comptroller is directed to transfer appropriations within the Department of City Development’s capital project and program accounts as follows to provide additional funds to the STRONG Homes Loan Program:
Department of City Development Account
FROM:
Business Improvement Districts-2013 Unallocated (UR04113000A) Fund 0339 $175,000 and
Commercial In Rem Property-Taxable-2015 (UR056150002) Fund 0339 $ 75,000
TO:
In Rem Property Program-2015 Appropriation (UR049150000) Fund 0339 $250,000
; and, be it
Further Resolved, That the Commissioner of City Development is directed to disburse funds to qualified applicants of the STRONG Homes Loan Program as expeditiously as possible.
Drafter
LRB 158667-4
John Ledvina
9/9/2015