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File #: 201200    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 target down-payment assistance programs to renters and properties in neighborhoods where increases in property values will likely occur.
Sponsors: ALD. COGGS, ALD. HAMILTON, ALD. STAMPER
Indexes: ASSESSMENTS, DEPARTMENT OF CITY DEVELOPMENT, HOME OWNERSHIP
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: Ald. Coggs Sponsors added: Hamilton & Stamper 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
201200
Version
ORIGINAL
Reference
200001
Sponsor
ALD. COGGS, HAMILTON AND STAMPER
Title
Resolution directing the Department of City Development to target down-payment assistance programs to renters and properties in neighborhoods where increases in property values will likely occur.
Analysis
This resolution directs the Department of City Development to target down payment assistance programs to renters and properties in neighborhoods where increases in property values will likely occur.

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, “Down payment assistance programs shall target renters and properties in neighborhoods where increases in property values are expected consistent with Section 4.4 of the Anti-Displacement Plan”; and

Whereas, The 2021 Proposed Budget includes $2.9 million in new Homeownership Initiatives capital account to be funded by a one-year extension of TID #22 and administered by the Department of City Development (DCD); 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, In February 2018, DCD published “A Place in the Neighborhood: An Anti-Displacement Plan for Neighborhoods Surrounding Downtown Milwaukee”, which highlights some of Milwaukee’s housing challenges and offers recommendations to reduce displacement and expand affordable housing; and

Whereas, The City also adopted a pilot Anti-Displacement Neighborhood Preference Policy in 2019 to require that a portion of the units within a new development are affordable, while a number of community stakeholders contribute to the Citizen Anti-Displacement Advisory Committee; and

Whereas, Section 4.4 of the Anti-Displacement Plan notes that DCD’s efforts to help moderate...

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