Milwaukee promotes Pam Watson to interim finance director amid funding negotiations

During a recent meeting of the Milwaukee Housing Authority, a significant discussion emerged regarding financial management and development fees, highlighting the challenges posed by the pandemic's impact on construction costs. A key speaker emphasized the importance of adhering to financial obligations while navigating the complexities of development projects, particularly in light of supply chain disruptions that have inflated expenses.

The speaker clarified that while development fees are necessary, they must not overshadow the commitment to complete projects effectively. He pointed out that any cost overruns must be managed internally, as external funding sources like WIDA (Wisconsin Housing and Economic Development Authority) do not cover unexpected expenses. This financial model requires careful planning and accountability, ensuring that funds are appropriately allocated between hard and soft costs.

In a notable development, Pam Watson was promoted to interim director of finance, marking a commitment to internal growth within the agency. The speaker expressed pride in promoting local talent, underscoring the agency's dedication to Milwaukee. Watson's recent negotiations with HUD resulted in securing an additional $350,000 to cover operational costs, a testament to her determination and capability. This funding will help stabilize payroll and support ongoing projects, reinforcing the agency's mission to serve the community effectively.

The meeting underscored the ongoing commitment of the Milwaukee Housing Authority to address financial challenges while fostering local leadership, setting a positive tone for future developments in the city.