HomeMy WebLinkAboutR-22-0390City of Miami
Resolution R-22-0390
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Legislation
File Number: 12502
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 10/13/2022
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE ALLOCATION OF PROGRAM INCOME FROM HOME
INVESTMENT PARTNERSHIPS ("HOME") PROGRAM FUNDS GENERATED
FROM APRIL 1, 2022 TO JULY 31, 2022 IN THE AMOUNT OF $2,256,618.55
AND AN ADDITIONAL AMOUNT OF $155,289.52 OF RECAPTURED FUNDS,
FOR A TOTAL AMOUNT OF $2,411,908.07 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 April 1, 2022 to July 31, 2022 the Department collected $2,256,618.55
in Home Investment Partnerships ("HOME") program income and an amount of $155,289.52 in
recaptured funds for a total amount of $2,411,908.07 ("Funds"); and
WHEREAS, pursuant to HOME regulations 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 Funds 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 the Funds to the eligible HOME activities, as specified in
Exhibit "A," attached and incorporated, is authorized.'
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.
' 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: 12502 (Revision:) Printed On: 1012612022
File ID: 12502
Enactment Number: R-22-0390
APPROVED AS TO FORM AND CORRECTNESS:
1
Vft6ria-Vrdel, City Attor iey 9/30/2022
City of Miami Page 2 of 2 File ID: 12502 (Revision:) Printed on: 1012612022