Number
R_12824
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving the submission of a tax credit application to the Wisconsin Housing and Economic Development Authority for College Court
Analysis
Body
WHEREAS, the Wisconsin Housing and Economic Development Authority (WHEDA) is accepting applications for 9% low income housing tax credits; and
WHEREAS, Housing Authority staff are recommending a Mixed Finance Development application using Low Income Housing Tax Credits, and HUD Capital Funds for the rehabilitation of College Court, 251 unit of public housing in 2 midrises with an elderly and disabled designation; and
WHEREAS, staff consulted with the College Court Residents, Resident Advisory Board and the Mayor of the City of Milwaukee regarding applications for low income housing tax credits for Westlawn; and
WHEREAS, the College Court Resident Organization, Resident Advisory Board and Mayor of the City of Milwaukee are supportive of applications for tax credits to support the rehabilitation; and
WHEREAS, the Housing Authority has successfully employed financing models using the Low Income Housing Tax Credits in its revitalization of Lapham Park, Highland Park, Cherry Court, Convent Hill, Olga Village, and Scattered Sites; and
WHEREAS, the Housing Authority will be the developer and have designated Friends of Housing Corporation as property manager, and Continuum Architects and Planners will be the architect through their existing contract; and
WHEREAS, if this application is awarded low-income housing tax credits, the Housing Authority will need to submit a designated housing plan, a demolition/disposition, a mixed finance and development proposal, and Rental Assistance Demonstration applications to the U.S. Department of Housing and Urban Development; now, therefore, be it
RESOLVED, by the Commissioners of the Housing Authority of the City of Milwaukee that they hereby authorize and approve forming a limited ...
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