Number
161726
Version
ORIGINAL
Reference
160956
Sponsor
ALD. STAMPER, RAINEY AND MURPHY
Title
Resolution authorizing $1 property sales and housing rehabilitation grants through the Milwaukee Employment/Renovation Initiative.
Analysis
This resolution authorizes the Department of City Development to implement the Milwaukee Employment/Renovation Initiative by (1) selling up to 100 City-owned foreclosed properties in the Greater Sherman Park area for $1 per property to six buyers selected through a Request for Qualification process, and (2) entering into grant agreements with those buyers, using funds provided by the Wisconsin Department of Financial Institutions to make grants of up to $10,000 per property toward rehabilitation expenses.
Body
Whereas, On November 22, 2016, the Common Council of the City of Milwaukee adopted File No. 160956, which accepted a grant from the Wisconsin Department of Financial Institutions (“WDFI”) to provide $2 million to assist the City to address blight in Milwaukee neighborhoods through housing demolition, deconstruction and rehabilitation; and
Whereas, File No. 160956 specifies that at least $1 million of the grant shall be provided to the Department of City Development (“DCD”) to subsidize the costs of renovating City-owned foreclosed properties sold to developers in the Greater Sherman Park area, bounded by North 60th Street, North 20th Street, West Capitol Drive and West Lloyd Street; and
Whereas, File No. 160956 directed DCD to conduct a competitive process to select developers to participate; and
Whereas, DCD issued a Request for Qualifications for the Milwaukee Employment/Renovation Initiative (“ME/RI”) on January 6, 2017, with applications due on February 8, 2017; and
Whereas, DCD received twelve responsive applications, which were evaluated by a five-person panel; and
Whereas, Based on the evaluation of these applications, DCD is recommending that the six top-scoring applicants listed in a document, a copy of...
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