Fiscal Note
The Resolution proposes the use of $200,000 of City Affordable Housing Trust Fund proceeds. The 2008 Adopted Operating budget authorizes $353,695 for distribution from this fund in 2008 (please see page 21 of the Adopted City budget). Additionally, the PCED Adopted Capital budget (Project No. 40, "Hauk St. and Marquette St.") "directs the Department generally, and the CDBG Office specifically, to work with Habitat for Humanity of Dane County and the Madison Area Land Trust to create homeownership opportunities in the area of Hauk Street and North Marquette Street." No funding is included in the capital budget for this project.
Title
Authorizing the provision of Housing Trust Funds to assist Habitat for Humanity of Dane County to develop housing in ways that address City, Community and Neighborhood Development Objectives.
Body
AGENCY:
Habitat for Humanity of Dane County is a local chapter of a national organization established to promote
affordable housing using self-help participation and volunteer labor. Locally, the Habitat chapter has
developed Twin Oaks, Harmony Park and several dozen other single family houses.
PROJECT:
Habitat intends to acquire 3 properties in the Hauk/Marquette area, relocate one of the 3 buildings, demolish the others 2, conduct sitework to decrease the likelihood of flooding on the properties, and construct 8 owner-occupied townhouses for families who could not otherwise afford them. This project will address neighborhood revitalization goals of the area.
ACTIONS:
Whereas, MGO 4.21 created a Housing Trust Fund to help develop affordable housing;
Whereas, CD staff and the CDBG Commission have reviewed this proposal and find that it furthers the goals
expressed in the Five-Year Community and Neighborhood Development Plan*;
Now, therefore, be it resolved that the Common Council approve the provision of funds for the following
project, and authorize the Mayor and the City Clerk to enter into an agreement with:
Habitat...
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