Number
181060
Version
ORIGINAL
Reference
130940, 171613
Sponsor
ALD. HAMILTON
Title
Resolution relating to the eligibility requirements for the Compliance Loan Program, administered by the Department of Neighborhood Services.
Analysis
This resolution amends the eligibility requirements for the Compliance Loan Program to allow observable code violations, rather than issued orders to correct, to change the property owner income ceiling from 50% of the area median income to 60%, and to allow an additional $10,000 of flexibility for potential change orders in City-authorized work, raising the maximum possible per-property loan from $15,000 to $25,000.
Body
Whereas, By the Common Council’s adoption of Resolution File Number 130940 on February 11, 2014, the City recognized that many property owners are financially unable to correct code violations; and
Whereas, To reduce blight and to promote health, safety and welfare, the City created a Compliance Loan Program to provide no-interest loans, up to $15,000 per property, to owners meeting certain eligibility requirements, with the loan proceeds to be used to correct the code violations, and with the loans being due and payable upon transfer or property conveyance; and
Whereas, In June 2017, the Public Policy Forum bestowed upon the City the “Innovative Approach to Problem Solving Award” in recognition of the Compliance Loan Program; and
Whereas, Since inception of the Program, there have been 147 loans made and only one default, which was settled by compromise in Resolution File Number 171613, with the average loan amount being $12,558; and
Whereas, Based on the Department of Neighborhood Service’s (DNS) experience administering the Program, the Council recognizes the need to amend eligibility requirements for the Compliance Loan Program; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the eligibility requirements for Compliance Loans are amended and restated as fo...
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