Financing the Housing Trust Fund.
Milwaukee Code of Ordinances § 316-7
in effect316-7. Financing the Housing Trust Fund.
1. SOURCES. a. It is anticipated that the housing trust fund is to be funded by sources identified in common council resolution file number 060071, such as start-up funding using general obligation bonds, surplus Potawatomi Bingo Casino revenues, post-closure tax incremental district revenues, excess payments in lieu of taxes and other funding sources that may be identified by the common council and the housing trust advisory board.
b. The housing trust fund shall be initially capitalized for a maximum of $5 million in general obligation proceeds, with the resulting annual debt service being amortized by surplus Potawatomi Bingo Casino revenues, post-closure tax incremental district revenues, excess payments in lieu of taxes, and secondarily by the property tax levy. Bonds shall be issued as bond-funded projects are approved by the common council. These bonds shall be issued such that bond-sale proceeds will be used for a purpose for which the city will be exempt from the requirement to hold a referendum on the bond sale, as provided in state law. This bond sale shall be considered a one-time commitment intended to provide start-up funding for the housing trust fund.
2. DEPOSITS AND EXPENDITURES. The city comptroller shall establish the necessary accounts for the deposit and expenditure of housing trust funds.
Source: City of Milwaukee Legislative Reference Bureau, Milwaukee City Charter and Code of Ordinances (city.milwaukee.gov master PDFs)URL: https://city.milwaukee.gov/ImageLibrary/Groups/ccClerk/Ordinances/Volume-3/CH316.pdf#page=2Fetched: 10/26/2026