Number
081375
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. MURPHY
Title
Substitute resolution relating to the allocation of funds from the Housing Trust Fund.
Analysis
As authorized by the City of Milwaukee’s Housing Trust Fund Advisory Board, the Community Development Grants Administration released Requests for Proposals for affordable housing projects in September 2008. Based upon funding applications submitted by the November 3, 2008 deadline, the Advisory Board is recommending the Common Council approve funding 9 projects totaling $920,750 from the Housing Trust Fund - Capital Improvement Account.
Body
Whereas, On November 14, 2006, the City of Milwaukee Common Council adopted File Number 041537, an ordinance relating to the establishment, operation and funding of a City of Milwaukee Housing Trust Fund; and
Whereas, On September 26, 2006, the Common Council adopted File Number 060071, a resolution relating to the recommendations of the Milwaukee Housing Trust Fund Task Force for the operation and funding of a Housing Trust Fund, which included provisions that Housing Trust Fund dollars should be allocated in 3 categories: housing and services for persons who are homeless, development or rehabilitation of affordable rental housing, and creation or maintenance of home ownership activities; and
Whereas, As authorized by the Housing Trust Fund Advisory Board, the Community Development Grants Administration (CDGA) released Request-for-Proposals in September, 2008 for the categories of Homelessness ($373,250), Rental ($522,550) and Homeownership ($373,250) and Other Needs as Identified ($213,950) for a total amount available of $1,483,000. CDGA received 26 funding requests by the November 3, 2008 deadline; and
Whereas, CDGA staff and the Housing Trust Fund Advisory Board’s Technical Review Subcommittee both reviewed the funding applications, and recommended funding 9 projects totaling $920,750 to the Advisory Board; and
Whereas, On January 30, 2009, the Advisory Board approved the recommendation to fund the 9 projects totaling $920,750 as listed in Attachment A; and
Whereas, In accordance with Section 316-5-2-a and b of the Milwaukee Code of Ordinances relating to the duties of the Housing Trust Fund Advisory Board, the Advisory Board is recommending to the Common Council approval of the allocation of $920,750 for the 9 projects listed in Attachment A; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the award of $920,750 from the Housing Trust Fund Account (Capital Improvement Fund Account Number 0339 9990 R999 UR04407000A) to the 9 organizations and projects listed in Attachment A is approved, with a remaining balance remain in the Housing Trust Fund account; and, be it
Further Resolved, That each organization so awarded shall comply with the Housing Trust Fund Advisory Board’s policies and procedures; and, be it
Further Resolved, That each of these Housing Trust Fund awards are subject to the successful negotiations of the term sheet with the City of Milwaukee; and, be it
Further Resolved, That upon the agreement of the term sheet, CDGA is hereby authorized to execute contracts for the awards as listed on Attachment A.
Requestor
Drafter
CDGA-HsgTrust-09
01/30/09