City of Madison, Wisconsin | Legislative Information Center
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File #: 52315    Version: 1 Name: Authorizing an allocation of up to $400,000 in CDBG Housing Development Reserve Funds to replace the existing boiler mechanical systems at Parkside Apartments.
Type: Resolution Status: Passed
File created: 7/3/2018 In control: FINANCE COMMITTEE
On agenda: 7/10/2018 Final action: 7/24/2018
Enactment date: 7/30/2018 Enactment #: RES-18-00569
Title: Authorizing an allocation of up to $400,000 in CDBG Housing Development Reserve Funds to replace the existing boiler mechanical systems at Parkside Apartments.
Sponsors: Samba Baldeh, Maurice S. Cheeks, Matthew J. Phair
Attachments: 1. Staff Review 2018 - Parkside Boiler Replacement.pdf, 2. CDA Parkside boiler cdbg application(signed).pdf
Fiscal Note
The proposed resolution authorizes awarding $400,000 of Community Development Block Grant (CDBG) funds to the Community Development Authority to replace the boiler system at the Parkside Apartments property at 245 South Park Street. Funding for this project will be available through 2015, 2016, and 2017 CDBG program income and will be provided as a long-term deferred loan. No additional City appropriation is required.
Title
Authorizing an allocation of up to $400,000 in CDBG Housing Development Reserve Funds to replace the existing boiler mechanical systems at Parkside Apartments.
Body
BACKGROUND
The Community Development Authority of the City of Madison (CDA) is a component unit of the City of Madison that provides affordable housing services to low- and moderate-income households in Madison. The CDA owns and manages an 83-unit rental property at 245 South Park Street, known as Parkside Apartments.
Parkside Apartments serves a vital role in the South Park Street corridor of Madison by serving a large number of low- and moderate-income persons through the provision of stable housing. The property has served exclusively households earning at or below 50% of the area median income; rent is subsidized with the aid of a Housing Assistance Payment contract with the US Department of Housing and Urban Development. The property is well-occupied, with 80 of its 83 units currently leased to income-eligible households.
The CDA has determined the property’s deteriorating boiler system needs immediate replacement in order to extend the property’s useful life and maintain tenant comfort and safety. These requested Housing Reserve Funds would replace the building’s existing system, estimated to cost up to $400,000, that is responsible for providing heati, hot water, and fresh air supply to the building’s units and common areas.
The CDA’s request of $400,000, if approved, would permit the agency to continue to provide quality, safe, and affordable housing at thi...

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