Loading...
HomeMy WebLinkAboutAgenda Item Summary Form1IV OF F '93 AGENDA ITEM SUMMARY FORM File ID: #7376 oR ti9 Date: 04/08/2020 Requesting Department: Department of Housing and Community Development Commission Meeting Date: 04/23/2020 Sponsored By: Ken Russell District Impacted: All Type: Resolution Subject: Approve - Small Business Emergency Loan Assistance Program Purpose of Item: APPROVING A SMALL BUSINESSES EMERGENCY LOAN ASSISTANCE PROGRAM, AS INDICATED IN EXHIBIT "A", ATTACHED AND INCORPORATED, TO ELIGIBLE BUSINESSES IN THE CITY OF MIAMI, IN RESPONSE TO THE ECONOMIC CHALLENGES FACED BY THE BUSINESSES AS A RESULT OF THE CORANAVIRUS ("COVID-19"); "); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL DOCUMENTS, INCLUDING AMENDMENTS, EXTENSIONS, AND MODIFICATIONS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, AS MAY BE NECESSARY, FOR APPROVAL. Background of Item: As per the Code of Federal Regulation 24 CFR 570.201(o), the Department of Housing and Urban Development ("HUD") authorizes the use of Community Development Block Grant ("CDBG") to provide assistance to public and private organizations, agencies, and other subrecipients (including nonprofit and for-profit subrecipients) to facilitate economic development. Pursuant to the declaration of a national emergency beginning March 1, 2020, the State of Florida Executive Order 20-52, and the City of Miami State of Emergency as a result of the Covid-19 outbreak, small businesses are facing an unprecedented economic disruption. On Friday, March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which contains about $350 billion in relief for American workers and small businesses. There is a sense that these funds might not be enough to assist all small businesses injured by the pandemic and that there are certain expenditures that are not covered by the Payroll Protection Program that are necessary for business continuity. The Department of Housing and Community Development ("HCD") has established a Small Business Emergency Loan Assistance program to eligible businesses in the City, to mitigate the disruptive effects of the Covid-19, and complement the Payroll Protection Program. The City Administration recommends the approval of the Small Business Emergency Loan program to eligible businesses in the City, forjob retention as indicated in Exhibit "A", attached and incorporated. Budget Impact Analysis Item has NO budget impact Item is NOT Related to Revenue Item is NOT funded by Bonds Total Fiscal Impact: N/A al Revenue Account No: 14001.910199.883000 (CDBG Reviewed By Department of Community and Economic Development Review Completed 04/08/2020 2:55 PM Office of Management and Budget Rene Lazaro Hernandez Office of Management and Budget Christopher M Rose City Manager's Office Sandra Bridgeman Legislative Division Valentin J Alvarez City Manager's Office Arthur Noriega V Office of the City Attorney Richard Appleton Office of the City Attorney Barnaby L. Min City Commission Nicole Ewan Office of the Mayor Mayor's Office Office of the City Clerk City Clerk's Office Office of the City Attorney Richard Appleton Office of the City Attorney Barnaby L. Min Office of the City Attorney Victoria Mendez Office of the City Clerk City Clerk's Office George Mensah Department Head Budget Analyst Review Completed Budget Review Completed Assistant City Manager Review Completed Legislative Division Review Completed City Manager Review Completed ACA Review Completed Deputy City Attorney Review Completed Meeting Completed Unsigned by the Mayor Completed Signed and Attested by the City Clerk Completed ACA Review Completed Deputy Attorney Review Completed Approved Form and Correctness with Modification(s) Rendered Completed 04/08/2020 10:37 PM 04/14/2020 9:10 AM 04/14/2020 1:24 PM 04/14/2020 6:16 PM 04/14/2020 8:41 PM 04/14/2020 9:23 PM 04/14/2020 9:42 PM 04/23/2020 9:00 AM 04/30/2020 4:34 PM 04/30/2020 4:47 PM 05/13/2020 7:31 PM 05/13/2020 7:45 PM Completed 05/21/2020 12:20 PM A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING THE SMALL BUSINESS EMERGENCY LOAN ASSISTANCE PROGRAM AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED, FOR ELIGIBLE BUSINESSES IN THE CITY OF MIAMI IN RESPONSE TO THE ECONOMIC CHALLENGES FACED BY SAID BUSINESSES AS A RESULT OF THE CORONAVIRUS; AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS, EXTENSIONS, AND MODIFICATIONS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, according to the Code of Federal Regulations under 24 CFR 570.201 (o), the United States Department of Housing and Urban Development ("HUD") authorizes the use of Community Development Block Grant ("CDBG") funds for assistance to public and private organizations, agencies, and other subrecipients (including nonprofit and for-profit subrecipients) to facilitate economic development; and WHEREAS, pursuant to the Federal Government's declaration of a national emergency, State of Florida Executive Order 20-52, and City of Miami ("City") Declaration of Local Emergency as a result of the Coronavirus ("COVID-19") outbreak, small businesses are facing an unprecedented economic disruption; and WHEREAS, on Friday, March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act ("Act"), which contains approximately $350 billion in relief for American workers and small businesses; and WHEREAS, these funds may not be enough to assist all small businesses in the City injured by COVID-19 and there are certain expenditures that are not covered by the Act's Payroll Protection Program that are necessary for business continuity; and WHEREAS, the City's Department of Housing and Community Development ("HCD") has developed a Small Business Emergency Loan Assistance Program ("Program") for eligible businesses in the City to mitigate the disruptive effects of COVID-19 and complement the Payroll Protection Program; and WHEREAS, the City's Administration recommends the approval of the Program, as more particularly described in Exhibit "A," attached and incorporated, for eligible businesses in the City; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. -,IV ov . City of Miami City Hall IIS iit A4to � „1,l ,a Legislation 3500 Pan American Drive r —R �� Miami, FL 33133 Resolution www.miamigov.com Enactment Number: R-20-0122 File Number: 7376 Final Action Date:4/23/2020 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING THE SMALL BUSINESS EMERGENCY LOAN ASSISTANCE PROGRAM AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED, FOR ELIGIBLE BUSINESSES IN THE CITY OF MIAMI IN RESPONSE TO THE ECONOMIC CHALLENGES FACED BY SAID BUSINESSES AS A RESULT OF THE CORONAVIRUS; AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS, EXTENSIONS, AND MODIFICATIONS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, according to the Code of Federal Regulations under 24 CFR 570.201 (o), the United States Department of Housing and Urban Development ("HUD") authorizes the use of Community Development Block Grant ("CDBG") funds for assistance to public and private organizations, agencies, and other subrecipients (including nonprofit and for-profit subrecipients) to facilitate economic development; and WHEREAS, pursuant to the Federal Government's declaration of a national emergency, State of Florida Executive Order 20-52, and City of Miami ("City") Declaration of Local Emergency as a result of the Coronavirus ("COVID-19") outbreak, small businesses are facing an unprecedented economic disruption; and WHEREAS, on Friday, March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act ("Act"), which contains approximately $350 billion in relief for American workers and small businesses; and WHEREAS, these funds may not be enough to assist all small businesses in the City injured by COVID-19 and there are certain expenditures that are not covered by the Act's Payroll Protection Program that are necessary for business continuity; and WHEREAS, the City's Department of Housing and Community Development ("HCD") has developed a Small Business Emergency Loan Assistance Program ("Program") for eligible businesses in the City to mitigate the disruptive effects of COVID-19 and complement the Payroll Protection Program; and WHEREAS, the City's Administration recommends the approval of the Program, as more particularly described in Exhibit "A," attached and incorporated, for eligible businesses in the City; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The City's Program, as more particularly described in Exhibit "A," attached and incorporated, for eligible businesses in the City in response to the economic challenges faced by said businesses as a result of COVID-19 is approved. Section 3. The City Manager is authorized' to negotiate and execute any and all necessary documents, including amendments, extensions, and modifications, all in forms acceptable to the City Attorney, for said purpose. Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: ' The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to, those prescribed by applicable City Charter and City Code provisions. 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.