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File #: 201199    Version: 0
Type: Resolution Status: Passed
File created: 12/15/2020 In control: COMMON COUNCIL
On agenda: Final action: 1/19/2021
Effective date:    
Title: Resolution directing the Department of City Development to develop marketing and outreach plans for down-payment assistance, co-op, land trust, and other housing initiatives.
Sponsors: ALD. COGGS, ALD. STAMPER
Indexes: DEPARTMENT OF CITY DEVELOPMENT, HOUSING
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
1/28/20210 MAYOR SIGNED   Action details Meeting details Not available
1/19/20210 COMMON COUNCIL ADOPTEDPass15:0 Action details Meeting details Not available
1/12/20210 ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Appearing: Vanessa Koster - DCD Ald. Stamper asked to be added as co sponsor. There were no objections.
Pass4:0 Action details Meeting details Video Video
12/15/20200 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
201199
Version
ORIGINAL
Reference
200001
Sponsor
ALD. COGGS, STAMPER
Title
Resolution directing the Department of City Development to develop marketing and outreach plans for down-payment assistance, co-op, land trust, and other housing initiatives.
Analysis
This resolution directs the Department of City Development to develop marketing and outreach plans for down-payment assistance, co-op, land trust, and other housing initiatives.

Body
Whereas, The 2021 City Budget was adopted by Common Council File Number 200001 on November 24, 2020; and

Whereas, Amendment 40A to the 2021 Budget placed a footnote in the Budget stating, “The Department of City Development shall develop marketing and outreach plans for down payment assistance, co-op, land trust, and other housing initiatives; and

Whereas, The 2021 Proposed Budget includes $2.9 million in a new Homeownership Initiatives capital account to be funded by a one-year extension of TID #22 and administered by the Department of City Development; and

Whereas, Of the amount appropriated, $1.4 million is earmarked for a down-payment assistance program and $1.5 million is designated to support development of limited-equity homeownership models; and

Whereas, A housing cooperative, or “co-op,” is a type of residential housing whereby owners do not own their unit outright but instead are shareholders in the cooperative based in part on the relative size of the unit they live in; and

Whereas, A land trust is an organization that takes legal ownership, stewardship, or partial control over property at the behest of the landowner; and

Whereas, Some Milwaukee residents may be unaware of the existence of, or how to benefit from, the City’s housing programs, which include the STRONG Homes Loan Program, the Homebuyer Assistance Program, or the Rental Rehabilitation Program; and

Whereas, The Housing Authority of the City of Milwaukee (HACM) offers a homeownership program which includes a Homes for Sale invent...

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