City of Milwaukee - File #: 201200

• File #: 201200
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 12/15/2020
• In control: COMMON COUNCIL
• Final action: 1/19/2021
• 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 By	Action	Result	Tally
1/28/2021	0	MAYOR	SIGNED
1/19/2021	0	COMMON COUNCIL	ADOPTED	Pass	15:0
1/12/2021	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Ald. Coggs Sponsors added: Hamilton & Stamper There were no objections.	Pass	4:0
12/15/2020	0	COMMON COUNCIL	ASSIGNED TO

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...