Number
220656
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution selecting developers and authorizing discounted property sales and housing rehabilitation and workforce subsidies through the Homes MKE Program.
Analysis
This substitute resolution authorizes the Department of City Development to implement the Homes MKE Program by (1) selling City-owned foreclosed properties for a discounted purchase price (with a targeted sales goal of 150 properties) to 15 buyers selected through a Request for Proposals process, and (2) entering into sales and development agreements with those buyers, using funds within the Department of City Development’s In Rem Initiative Account funded through the American Rescue Plan Act.
Body
Whereas, In 2021, the Department of City Development (“DCD”) received an allocation of Federal American Rescue Plan Act funds to implement a program to renovate City owned tax foreclosed properties for homeownership and affordable rental opportunities, as well create job opportunities for City of Milwaukee (“City”) residents; and
Whereas, On April 29, 2022, DCD issued a Request for Proposals for Homes MKE to solicit developers to participate in the program; and
Whereas, DCD received 66 responses, which were evaluated by a four-person panel; and
Whereas, Based on the evaluation of these applications, DCD recommends that the 15 applicants listed in Exhibit A, a copy of which is attached to this Common Council File, be selected to participate in Homes MKE; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the developers/teams (“Buyers”) listed in Exhibit A are authorized to participate in Homes MKE; and, be it
Further Resolved, That the selected Buyers may purchase tax-foreclosed properties assigned to them for discounted purchase prices, including $1.00 sales; and, be it
Further Resolved, That the selected Buyers may receive development rehabilitation and workforce subsidies to offset renovation costs and encourage the employment of unemployed and underemployed City residents; and, be it
Further Resolved, That DCD is authorized to enter into the necessary agreements with the selected Buyers and implement any other requirements, including American Rescue Plan Act requirements necessary to carry out the objectives of Homes MKE; and, be it
Further Resolved, DCD is authorized to award agreements to the next highest scoring applicants after the award of the first 15 agreements referenced herein, if later deemed necessary by DCD to carry out the full objectives of Homes MKE; and, be it
Further Resolved, That funding for City costs under Homes MKE shall be allocated from the DCD In Rem Initiative Account No. 0150-1910-RG1511913100.
Drafter
DCD:Maria.Prioletta:mp
09/02/22