Milwaukee officials, as part of efforts to redevelop 100 homes in an impoverished area of the city, are seeking developers who are interested in buying and renovating tax-foreclosed single-family and duplex homes.
The Milwaukee Employment/Renovation Initiative plans to grant up to $1 million to help subsidize the renovation of 100 tax-foreclosed properties in the Sherman Park area, a neighborhood generally bounded by North 60th Street, North 20th Street, Capitol Drive and Lloyd Street.
As part of that plan, the city intends to release a request for qualifications on Jan. 6 seeking developers who wish to apply for the grant money and redevelop homes in the targeted area. The selected developers will be required to:
- Buy five or more city-owned tax-foreclosed properties;
- renovate them so they are meet all building-code standards; and
- for each house purchased, hire at least one unemployed or underemployed person to help perform the renovation work.
The maximum grant to be given for each house is $10,000, according to a news release from the city. The grants will be provided after renovations are finished and a code-compliance certificate is issued.
The city is holding an informational meeting regarding its request for qualifications. The meeting will take place at 1:30 p.m. on Jan. 9, in room 301-A of City Hall. City officials are urging interested developers to send a representative to the meeting.