City of Madison - File #: 06317

• File #: 06317
• Version: 2
• Name: Lake Point Drive Rental Rehabilitation Program
• Type: Resolution
• Status: Passed
• File created: 5/2/2007
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 6/19/2007
• Final action: 6/19/2007
• Enactment date: 6/26/2007
• Enactment #: RES-07-00688
• Title: SUBSTITUTE - Authorizing amendments to the Rental Rehabilitation Program to provide financial incentives to owners to enhance the visual and exterior appeal of their residential properties located on both sides of Lake Point Drive between Hoboken Road and Weber Drive, in the West Broadway Redevelopment Area.
• Sponsors: Tim Bruer

Date	Ver.	Action By	Action	Result
6/19/2007	2	COMMON COUNCIL	Adopt	Pass
6/19/2007	2	Council Office	Fiscal Note Required / Approval
6/19/2007	2	Finance Dept/Approval Group	Approved Fiscal Note By The Comptroller's Office (SUBSTITUTES)
6/5/2007	1	COMMON COUNCIL	Refer to a future Meeting to Adopt	Pass
5/21/2007	1	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
5/15/2007	1	COMMON COUNCIL	Refer
5/9/2007	1	Community and Economic Development Unit	Referred for Introduction
5/8/2007	1	Finance Dept/Approval Group	Approved Fiscal Note By The Comptroller's Office
5/2/2007	1	Community and Economic Development Unit	Fiscal Note Required / Approval

Fiscal Note
Amending the Rental Rehabilitation (Installment Loan) Program is not anticipated to affect the City's capacity to fund the loans. Funding of $1,200,000 is authorized in the Planning and Development 2007 Adopted Capital Budget, Project No. 5, "Housing Rehab. Services Program," and is available from City Installment loan paybacks and City Cooperative Ownership Assistance Program (COAP) loan paybacks. No impact on cost controls.
Title
SUBSTITUTE - Authorizing amendments to the Rental Rehabilitation Program to provide financial incentives to owners to enhance the visual and exterior appeal of their residential properties located on both sides of Lake Point Drive between Hoboken Road and Weber Drive, in the West Broadway Redevelopment Area.
Body
WHEREAS, the CDA adopted the West Broadway Redevelopment Plan on October 10, 1996, for the purpose of eliminating blight and revitalizing the Redevelopment Area; and

WHEREAS, the CDA has successfully completed the Monona Shores revitalization and the development of the 26 new and 24 renovated condominium units on Lake Point Drive; and

WHEREAS, to further the objectives of the West Broadway Redevelopment Plan, the CDA/City desires to amend the existing Rental Rehabilitation Program to make financial assistance available to owners to enhance the overall visual and exterior appeal of their properties located on both sides of Lake Point Drive between Hoboken Road and Weber Drive (the "Project Area") in the West Broadway Redevelopment Area; and

WHEREAS, the CDA / City has retained the services of Glueck Architects to prepare design recommendations for the properties in the Project Area (Project Area map attached).

NOW, THEREFORE BE IT RESOLVED that the Common Council does hereby authorize the following amendments to the Rental Rehabilitation Program to provide financial incentives to owners to enhance the overall visual and exterior appeal of their properties in the Project Area:

1. Deferred...