Mayor Barrett Announces Three New Neighborhoods Will Be Part of the Target Investment Neighborhood Program
Pulaski Park, St Joseph’s, and Martin Drive to Participate in Efforts to Improve Housing, Home Ownership, and Neighborhood Strength
January 2, 2014
Mayor Tom Barrett announced Thursday that three new areas, Pulaski Park, St. Joseph’s, and Martin Drive, will join Milwaukee’s Target Investment Neighborhood (TIN) program in 2014. That designation brings focused resources from the city aimed at sustaining and increasing owner-occupancy, strengthening property values, providing high quality affordable rental housing, and improving the physical appearance and quality of life in TIN neighborhoods.
“The TIN program has worked all across the city – promoting investment by homeowners and boosting the collective power of residents and their neighborhoods,” Mayor Barrett said. “This is an effort in which the city becomes a partner, adding to the inherent strength of the targeted neighborhoods.”
The TIN program is part of the comprehensive city effort to mitigate the impacts of foreclosures in Milwaukee. The Mayor’s Strong Neighborhoods Investment Plan is set to invest more than $11-million on these activities in 2014.
The TIN program is overseen by Milwaukee’s Neighborhood Improvement Development Corporation, and it works with community-based partner organizations in each of the eight-to-twelve block areas. The 16th Street Community Health Center is the partner in Pulaski Park; Sherman Park Community Association partners with the St. Joseph’s neighborhood; and the Martin Drive Neighborhood Association will work in that TIN neighborhood.
Among the resources available are partially forgivable loans homeowners can use to make repairs, with a focus on exterior improvements and energy efficiency upgrades. Homeowners are eligible to have up to half of the total cost of repairs forgiven if they stay in their homes for five years after the work has been completed. Responsible investor owners are also eligible to apply to the TIN Rental Rehabilitation Program which provides forgivable loans on a matching funds basis for the rehabilitation rental properties in TIN areas.
In the last decade, more than 600 homeowners have used the TIN program to make needed repairs to their properties. That has produced more than $10-million of investment to preserve homes and neighborhoods across the city.
In 2014, there will be more than $800-thousand available to fund home rehabilitation projects in TIN neighborhoods. Money for the program comes from the City of Milwaukee’s annual allocation of Federal HOME funds and from funds received from the repayment of previous TIN loans.
Matching grants are available in the TIN neighborhoods to support resident-driven community improvement projects that engage residents and improve appearances. Past projects have included community gardens, neighborhood signage, temporary art projects, and alley lighting.
Six other neighborhoods remain part of the TIN program. Merrill Park, Burnham/Layton, Mitchell/Kosciuszko, Borchert Field, Century City, and Woodlands were previously designated TIN neighborhoods. Generally, neighborhoods are part of the program for up to three years.