Fiscal Note
This policy resolution does not create any expenditure authority and has no direct budgetary impact.
Title
AMENDED ALTERNATE SECOND SUBSTITUTE - Adopting an Affordable Housing Plan for the Allied Drive area.
Body
WHEREAS, on May 16, 2006, the City of Madison acquired a 129-unit apartment complex located at 2317-2333, 2345-2355 and 2409-2437 Allied Drive; and
WHEREAS, the City of Madison adopted the Allied-Dunn's Marsh-Belmar Neighborhood Physical Improvement Plan for the Allied-Dunn's Marsh area; and
WHEREAS, the City of Madison also commissioned a housing study for the Allied-Dunn's Marsh area; and
WHEREAS, the Mayor's Office created "A Vision for the Allied Community" that calls for a mix of incomes in the neighborhood, opportunities for home ownership, and increasing the quality of life of the neighborhood while avoiding displacement of residents; and
WHEREAS, the Allied Task Force was tasked with guiding the City in the redevelopment of this property; and
WHEREAS, the Allied Task Force completed its "Comments and Recommendations" document (Version 4) by unanimous approval on May 24, 2007; and
WHEREAS, the "Comments and Recommendations" document makes a series of recommendations regarding affordability and quality of housing on the City-owned properties;
NOW THEREFORE BE IT RESOLVED that the "Comments and Recommendations" on the RFP (Version 4), and the recommendations contained herein, is hereby adopted as the Allied Drive Task Force recommendations to the RFP process guiding the renovation and/or redevelopment of the City owned projects; and
BE IT FURTHER RESOLVED that the City of Madison will initiate a process to redevelop and/or renovate the City-owned properties in a manner that:
· Creates a mixture of owner occupied, rental, rent-to-own and perhaps co-operative housing,
· Ensures that the majority of developed units remain affordable for at least 20 25 years,
· Provides options for a range of incomes, foc...
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