HomeMy WebLinkAboutAgenda Item Summary Forme,,.„A„ * AGENDA ITEM SUMMARY FORM
� File ID: #12502
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Date: 08/31/2022 Requesting Department: Department of
Housing and Community Development
Commission Meeting Date: 10/13/2022 Sponsored By:
District Impacted: All
Type: Resolution
Subject: Auth. City Manager - Allocate - HOME Program Income Fund
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM INCOME FROM HOME
INVESTMENT PARTNERSHIP ("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, ALL IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE.
Background of Item:
The Department of Housing and Community Development ("Department") receives
various types of repayments from loans provided to developers and homeowners thar
are required to be used for eligible program activities.
From April 1, 2022 to July 31, 2022 the Department collected $2,256,618.55 in Home
Investment Partnership ("HOME") program income and an amount of $155,289.52 in
recaptured funds.
Pursuant to HOME regulations 24 CFR Part 92.503, program income and recaptured
funds must be used for eligible HOME activities.
The Department recommends the allocation of Funds to the eligible HOME activities, as
specified in Exhibit "A" attached and incorporated.
Budget Impact Analysis
Item is NOT Related to Revenue
Item is NOT funded by Bonds
Item is an Expenditure
Total Fiscal Impact:
$2,411,908.07
Special Revenue Account No: 14002.910101.883000 (HOME
Reviewed By
Department of Community and Economic Development
Review Completed
09/15/2022 12:07 PM
Office of Management and Budget
Luis Hernandez -Torres
Office of Management and Budget
Marie Gouin
City Manager's Office
Larry M. Spring
City Manager's Office
Arthur Noriega V
Legislative Division
Valentin J Alvarez
Office of the City Attorney
Richard Appleton
Office of the City Attorney
Victoria Mendez
City Commission
Maricarmen Lopez
Office of the City Clerk
City Clerk's Office
George Mensah Department Head
Budget Analyst Review
Completed
09/16/2022 8:15 AM
Budget Review
Completed
09/16/2022 12:17 PM
Assistant City Manager Review
Completed
09/20/2022 9:20 AM
City Manager Review
Completed
09/20/2022 11:15 AM
Legislative Division Review
Completed
09/20/2022 3:59 PM
ACA Review
Completed
09/29/2022 5:48 PM
Approved Form and Correctness
Completed
09/30/2022 10:14 AM
Meeting
Completed
10/13/2022 9:00 AM
Rendered
Completed
10/19/2022 1:03 PM
of
.�f City of Miami CityHall
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11 °° Legislation 3500 Pan American Drive
g Miami, FL 33133
Resolution www.miamigov.com
Enactment Number: R-22-0390
File Number: 12502 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.
APPROVED AS TO FORM AND CORRECTNESS:
Vf ria i dez, ity ttor ey 9/30/2022
Pursuant to the resolution, this item became effective immediately upon adoption by the Commission.