Fiscal Note
The proposed resolution will amend the 2019 Adopted Operating Budget to transfer $165,000 $145,000 from Contingent Reserve to CDD for a purchased services contract with Tree Lane Apartments LLC for security services in and around Tree Lane Apartments located at 7933 Tree Lane. Following the transfer of these funds the remaining balance in 2019 Contingent Reserve will be $1,509,750.
Title
ALTERNATE - Amending the City’s 2019 Operating Budget to transfer $165,000 $145,000 from the Contingent Reserve to the Community Development Division authorizing a sole source contract with Tree Lane Apartments LLC, for the purpose of helping to fund services designed to enhance the safety, security and well-being of residents living in and around the Tree Lane Apartments property.
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WHEREAS, in 2015 the City of Madison embarked on a new affordable housing initiative with the stated goal of helping to develop at least 1,000 new units of affordable rental housing, 250 of which were to be designated as permanent supportive housing for homeless persons; and,
WHEREAS, as of 2018, two City-inspired permanent supportive housing developments have been completed and are currently occupied, one (Rethke Terrace Apartments) providing 60 units of housing for homeless single adults and the other (Tree Lane Apartments) 45 units of housing for homeless families; and,
WHEREAS, Heartland Housing, in collaboration with YWCA of Madison, was selected by the City, through a Request for Qualifications process conducted in 2014, to develop, manage and provide support services to the residents of the family permanent supportive housing property; and,
WHEREAS, aided by loans from the City of Madison and Dane County, as well as federal low-income-housing tax credits secured from the Wisconsin Housing and Economic Development Authority, Heartland Housing constructed Tree Lane Apartments at 7933 Tree Lane on Madison’s west side and opened the property for occupancy in June of 2018; and,...
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