TIN Offers Resources For Property Owners
A new forgivable home improvement loan and matching grant program for homeowners and investors looking to update and improve their properties is making resources available in the 1st District.
Through the Eaton/DRS Power & Control Technologies Targeted Investment Neighborhood (TIN), homeowners can take advantage of forgivable loans (grants) for home repairs and to abate code violations. Homeowners must live within the TIN target area (from W. Capitol Dr. to W. Congress, N. 24th St. to the Soo Line RR.) and earn income within certain levels to be eligible. The partnering neighborhood agency for the Eaton/DRS TIN is SDC Community Partners, and the primary contact is Paula Butler (414-221-6753).
Ald. Hamilton said the TIN program is a neighborhood revitalization strategy in which the City of Milwaukee, working with a neighborhood community partner, focuses resources in a relatively small area (6 to 12 city blocks) in an effort to stabilize and increase owner-occupancy, strengthen property values and improve the physical appearance of a neighborhood.
The goal of the program is to reverse trends of disinvestment by improving the physical and social infrastructure of a neighborhood, improving its desirability as a place to live, work and invest. City departments such as Public Works and the Police Department also work with the neighborhood partner to implement the revitalization plan.
A TIN usually requires three years of intensive activity, including enhanced property rehabilitation loans (for owner-occupants and for investor-owners), promotion of home ownership, blight removal, intensive code enforcement, and public improvements where appropriate. A pool of funds is designated for these activities, but there is also a concerted effort to maximize private investment and coordinate the city's spending with other forms of public investment.