HomeMy WebLinkAboutR-22-0201°xCity of Miami
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Resolution R-22-0201
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Legislation
File Number: 11899
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 6/9/2022
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE ALLOCATION OF PROGRAM INCOME FROM HOME
INVESTMENT PARTNERSHIPS PROGRAM ("HOME") FUNDS GENERATED
FROM NOVEMBER 1, 2021 TO MARCH 31, 2022 IN THE AMOUNT OF
$351,230.47 AND AN ADDITIONAL AMOUNT OF $68,422.99 OF
RECAPTURED FUNDS, FOR A TOTAL AMOUNT OF $419,653.46, AS
SPECIFIED IN EXHIBIT "A," ATTACHED AND INCORPORATED;
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY
AND ALL NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE
CITY ATTORNEY, FOR SAID PURPOSE.
WHEREAS, the Department of Housing and Community Development ("Department")
receives various types of repayments from loans provided to developers and homeowners that
are required to be used for eligible program activities; and
WHEREAS, from November 1, 2021 to March 31, 2022, the Department collected
$351,230.47 in Home Investment Partnerships Program ("HOME") program income and an
amount of $68,422.99 in recaptured funds; and
WHEREAS, pursuant to HOME regulation 24 CFR Part 92.503, program income and
recaptured funds must be used for eligible HOME activities; and
WHEREAS, the Department recommends the allocation of the program income
generated November 1, 2021 to March 31, 2022, in the amount of $351,230.47, and an
additional amount of $68,422.99 of recaptured funds, for a total amount of $419,653.46, to the
eligible HOME activities, as specified in Exhibit "A," attached and incorporated;
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 allocation of HOME program income generated from November 1, 2021
to March 31, 2022, in the amount of $351,230.47, and an additional amount of $68,422.99 of
recaptured funds, for a total amount of $419,653.46, to the eligible HOME activities, as specified
in Exhibit "A," attached and incorporated, is authorized.'
' 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.
City of Miami Page 1 of 2 File ID: 11899 (Revision:) Printed On: 612212022
File ID: 11899
Enactment Number: R-22-0201
Section 3. The City Manager is authorized' to negotiate and execute any and all
necessary documents, in a form 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:
1
i ria i "ndez, Cify Kttor iey 5/30/2022
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.
City of Miami Page 2 of 2 File ID: 11899 (Revision:) Printed on: 6/22/2022