A total of $830,391 in Housing Trust Fund grants will help the homeless, low-income renters and neighborhoods affected by foreclosures
The Milwaukee Common Council recently signed off on the recommendations of the Milwaukee Housing Trust Fund (HTF) Advisory Board, approving $830,391 in funding for six projects that will construct new homes for those in need, rehabilitate existing housing stock and make foreclosed homes more attractive to new buyers.
The projects will leverage an investment of more than $19.3 million in local construction and rehabilitation work over the next year, said Alderman Michael J. Murphy, chair of the advisory board.
“In 2006, when we identified homeless housing and services, development and rehab of affordable housing, and creation and maintenance of home ownership activities as the top priorities for HTF funding, we had no way of knowing how critical those goals would become in the years ahead,” Alderman Murphy said. “With the six projects we have selected to fund for 2012, the advisory board strikes the best balance with the resources available, while making a healthy investment in the economic activity that will result from these construction and rehab projects.”
This year, a total of 16 requestors proposed projects seeking $2.62 million in HTF funding. Alderman Murphy said that, if they had been fully funded, all 16 projects would have leveraged approximately $52.3 million.
The 2012 HTF awards include:
· $207,598 to Heartland Housing, Inc. for the construction of 37 supportive housing units for homeless persons with mental illness.
· $250,000 to CommonBond Communities for the rehabilitation of 80 former Section 8 rental units.
· $86,793 to Gibraltar Development of Milwaukee Corp. for the rehabilitation of owner occupied homes.
· $60,000 to Layton Boulevard West Neighbors, Inc. for the rehabilitation and sale of three foreclosed homes.
· $126,000 to Milwaukee Christian Center-NIP for the rehabilitation of owner occupied homes.
· $100,000 to Milwaukee Habitat for Humanity for the new construction and sale of 10 very low income single family homes.
All of the projects were reviewed and approved by the Common Council’s Zoning, Neighborhoods & Development Committee.