Number
191833
Version
ORIGINAL
Reference
090459, 100438, 130736, 130995, 140397, 161611, 190206
Sponsor
ALD. BAUMAN
Title
An ordinance relating to the housing infrastructure preservation fund.
Section
304-31.5 rc
Analysis
This ordinance revises and updates the code provisions relating to the housing infrastructure preservation fund to allow the city to make grants to buyers of surplus, city-owned improved properties to subsidize restoration while continuing to allow the city to restore properties using this fund.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 304-31.5 of the code is repealed and recreated to read:
304-31.5. Housing Infrastructure Preservation Fund. 1. FUND CREATED; PURPOSE. There is created a capital improvements fund to be known as the housing infrastructure preservation fund. Monies in this fund shall be used only to fund restoration conducted in accordance with this section, in furtherance of the objective of this section.
2. OBJECTIVE; PROPERTY QUALIFICATION. The city seeks to preserve properties that are classified as neighborhood property under s. 304-49-1-d-1 and that are improved residential lots containing 4 or fewer housing units each, as well as properties that are classified as development property under s. 304-49-1-b and that are improved with mixed-use, commercial and residential structures, and that, regardless of residential use or mixed use, are worthy of restoration or rehabilitation because of such factors as neighborhood context, architectural characteristics or quality, or historic status of the structures or their neighborhoods.
3. FUNDING SOURCES. The housing infrastructure preservation fund may be funded by:
a. Tax levy.
b. General obligation borrowing.
c. Amounts appropriated by law and transferred to the fund by the comptroller.
d. Other appropriations of the common council made from time to time.
4. EXPENDITURES. The annual allocation to the housing infrastructure preservation fund shall be authorized by the adopted city budget. The department of city development shall be authorized to expend these monies for:
a. City restoration of properties under city ownership, determined by the department to meet the property qualifications of sub. 2, without further common council approval, except that total expenditure for restoration of a single property shall not exceed $100,000 unless approved by the common council.
b. Restoration grants to the buyers of surplus, city-owned improved properties determined by the department to meet the property qualifications of sub. 2, where each buyer agrees in an agreement with the city to use the grant, after the buyer becomes the owner of the property, to restore specified exterior features of the structure, as identified by the department. Each grant may be made by the department, without further common council approval, except that total grant funding for a single property sold to a buyer shall not exceed $50,000 unless approved by the common council.
5. NET SALE PROCEEDS. Upon sale of a property restored by the city using the housing infrastructure preservation fund, or upon sale of a property by the city to a buyer who will restore using the housing infrastructure preservation fund, the net sale proceeds shall be deposited in accordance with the provisions of s. 304-49-12.
LRB
APPROVED AS TO FORM
____________________________
Legislative Reference Bureau
Date: ______________________
Attorney
IT IS OUR OPINION THAT THE ORDINANCE
IS LEGAL AND ENFORCEABLE
____________________________
Office of the City Attorney
Date: ______________________
Requestor
Department of City Development
Drafter
LRB175924-1
Yves La Pierre/Jeff Osterman
03/02/2020