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Home My WebLink AboutR-03-0995J-03-770 08/28/03 X03- 995 RESOLUTION NO. A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE DEOBLIGATION OF 28TH YEAR COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS, IN THE AMOUNT OF $484,580.43, FROM THE SECTION 108 LOAN GUARANTEE PROGRAM, AND THE REALLOCATION OF SAID FUNDS TO THE HOUSING LOAN RECOVERY FUND TO PROTECT THE CITY'S HOUSING LOAN PORTFOLIO. WHEREAS, Resolution No. 02-773 adopted July 9, 2002, adopted the allocation of 28th Year Community Development Block Grant ("CDBG") funds and program income to support City Municipal services and related activities, including $1,400,000 to the Section 108 Loan Guarantee Program; and WHEREAS, on June 9, 1998, the City Commission established a Housing Loan Recovery Fund, in the amount of $500,000, to protect the City's Housing Loan portfolio for loans provided through single-family and multi -family rehabilitation loan programs; CITY COMMISSION MEETING OF S E P 1 1 2003 Resolution No. iJ3- 995 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 deobligation of 28th Year CDBG funds, in the amount of $484,580.43, from the Section 108 Loan Guarantee Program and the reallocation of said funds to the Housing Loan Recovery Fund to protect the City's housing loan portfolio is authorized. Section 3. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.v 1� 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. Page 2 of 3 �J 3- 995 PASSED AND ADOPTED this ATTEST: l PRISCILLA A. THOMP ON CITY CLERK 11th day of September , 2003. APPROVED Ay✓- �OORM AND CORRECTNESS :e-/ NDRO VILARELLO ATTORNEY W7490:tr:AS:BSS L A. DIA , MAYOR Page 3 of 3 03— 995 95 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO: The Honorable Mayor and embers of Th >< Commis 'o FROM: Coed,,Arriola Manager RECOMMENDATION: DATE: 14 FILE: Deobligating $484,580.43 in SUBJECT: CDBG funds from Section 108 Loan Guarantee to Housing Loan Recovery Fund REFERENCES: City Commission Agenda ENCLOSURES: September 11, 2003 It is respectfully recommended that the City Commission adopt the attached Resolution authorizing the deobligation of 28th Year Community Development Block Grant (CDBG) funds in the amount of $484,580.34 from the Section 108 Loan Guarantee program; and further reallocating said funds to the Housing Loan Recovery Fund for the purpose of protecting the City's housing loan portfolio. BACKGROUND: On July 9, 2002, the City Commission adopted Resolution No. 02-773 allocating 28th Year CDBG program funds and program income to support City Municipal services and related activities, including $1,400,000 to the Section 108 Loan Guarantee program. Interest rates for the program year were lower than expected and the projection was incorrectly calculated, resulting in $484,580.34 in funds which were not needed for the Section 108 Loan Guarantee program in the 28th Program Year. On June 9, 1998, the City Commission established a Housing Loan Recovery Fund in the amount of $500,000 for the purpose of protecting the City's Housing Loan portfolio for loans provided through the single-family and multi -family rehabilitation loan programs. Since the initial establishment of this fund, the City has recovered in excess of $6 million in defaulted loans. A decision not to replenish this fund will severely hamper the City's ability to continue clearing defaulted loans from the housing loan portfolio. Program/Activity Amount Deobligate Funds from: Section 108 Loan Guarantee (IDIS #1330) $484,580.43 Allocate Funds to: Housing Loan Recovery Fund $484,580.43 It is recommended that the City Commission adopt the attached Resolution authorizing the deobligation of 28th Year Community Development Block Grant (CDBG) funds in the amount of $484,580.34 from the Section 108 Loan Guarantee program; and further reallocating said funds to the Housing Loan Recovery Fund for the purpose of protecting the City's. housing loan portfolio. The ed Resolution does not have a budgetary impact on the General Fund. L /BGR �3-- 995 JUN -10-,6016-5 15 � �! CI1Y CLERKS UFFICE 305 858 1610 P.02 J-02-637 7/8/02 RESOLUTION NO. 02— 7(3 A RESOLUTION OF THE MIAMI CITY COMMISSION DIRECTING TTIE ALLOCATION OF $7,256,700 OF 28 TI YEAR COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG") PROGRAM FUNDS AND $1,300,000 OF PROGRAM INCOME TO SUPPORT CITY MUNICIPAL SERVICES AND RELATED ACTIVITIES AS SPECIFIED HEREIN FOR THE 28T' YEAR PROGRAM YEAR BEGINNING OCTOBER 1, 2002, SUBJECT TO APPLICABLE CITY CODE PROVISIONS. WHEREAS, federal regulations require the City to provide an opportunity for citizen participation in the planning process for the Office of the U.S. Department of Housing and Urban Development ("HUD") related grant activities; and WHEREAS, a series of public hearings were held in each City Commission District to solicit public participation in the planning process for its HUD related grant activities; and YAMTM 4GZs: iTDI�[ JU t. 0 2002 s"Ohrman N& -. OJ9- 995 TUN -16-2003 15:28 CITY CLERKS OFFICE 305 858 1610 P.03 WHEREAS, a Public Hearing was duly advertised to provide public notice regarding the proposed use for said grant funds; 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 $7,256,700 OF 28th Year Community Development Block Grant (%CDBG") Program funds and $1,300,000 of Program income to support City municipal services and related activities for the 28th Year Program Year beginning October 1, 2002, subject to applicable City Code provisions, is directed as specified: Actixi Grant Administration Lot Clearing Code Enforcement - NET Code Enforcement - unsafe Structures Parka Department - Disabilities Program Section 108 Loan Guarantee CRA - Baseline Funding CPA - CLUC 90 Little Haiti Job Creation Project Downtown Development Authority Total Page 2 of 3 Allocations $3,732,800 $ 350,000 $1,000,000 $ 500,000 $ 119,000 $1,400,000 $ 379,900 S 100,000 $ 225,000 S 750,000 $8,556,700 93— 995 JUN -16-200J 15:28 CITY CLERKS OFFICE 305 858 1610 P.04 Section 3. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.!/ PASSED AND ADOPTED this 8th day of July , 2002. L A. DIAZ, MAY 6[ ATTEST: PRISCILLA A. THOMPSON CITY CLERK APPROVE --7M) TO FORM AND CORRECTNESS r/ AL, VIL eTTY ATTORNEY W6326:tr:LB '-� If the Mayor does not sign this Revolution, it shall become effective at the end of ten 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. Page 3 of 3 TOTAL P.04 03 �i')v 88 The Herald www.herald.com SATURDAY, AUGUST 30, 2003 F ttt .M \iQ City of Miami Department of Coamamity Development The Miami City Commission will hold a Public Hearing to discuss issues relating to the Community Development Block Grant and other HUD Programs, Tuesday, September 11, 2003, 3AD P.M. City of Miami Commission Chamber 3500 Pan American Drive Miami, Florida Federal regulations governing the City of Miami CDBG program requires that a participating jurisdiction provide citizens with reasonable notice of and an opportunity to comment on any amendments to the CDBG program. Additionally, the public is being advised of amendments to the CDBG funds program all of which amendments are indicated below: 1. Discussion and proposed resolution granting an extension from December 28, 2002 to January 9, 2003, to Palmetto Homes of Miami, inc., to complete the construction of three (3) single family hones affordable to families and individuals of very low, low and moderate income on formerly city -owned parcels in the Model City neighborhood; stating the intention of the City Commission related to the date of conveyance of title to said parcels. 2. Discussion and proposed resolution deobligabng 28" Year Community Development Block Grant (CDBG) Funds in the amount of $31,000 from Saint John Bosco Church in District 3 and reallocating the funds to the City of Miami Department of Capital Improvement Projects to upgrade the air conditioning in the Manuel Artime Building, for improvement of energy efficiency, to be completed by September 30, 2004. 3. Discussion and proposed resolution transferring 28" Year Community. Development Block Grant (CDBG) Program Funds in the Public Services Category in District 5 of $9,138.81 from James E. Scott Community Association, IncJCommunity Awareness Program to Word of Life Community Development Corporation for Public Services activities in District 5. 4. Discussion and proposed resolution authorizing the change in the composition of the eleven (11) member Housing and Commm. W Loan Committee to: one (1) chairperson appointed by the Mayor, three (3) members with backgrounds related to affordable housing development, two (2) members with private real estate experience, one (1) member with private real estate lending experience, two (2) members with private commercial experience, one (1) member with private commercial lending experience, and one (1) member from the City Administration appointed by the City Manager; and authorizing the extension of the Loan Committee's function to include the approval/disapproval of affordable housing construction grants and loans to be provided by the City through the Housing OpporWrntres for Persons with AIDS (HOPWA) Program; and further releasing the City Manager from the obligation to present each ban approved by the loan Committee for review and final approval to the State of Flotda Financial . Emergency Oversight Board. which was dissolved on December 18, 2001, 5. Discussion and proposed resolution authorizing a change in the properties to be purchased by MOVERS, Inc. with Housing Opportunities for Persons with AIDS (HOPWA) funds from properties adjacent to the Sugar Hill facility to properties in the area around the Sugar HAI facility; and further authorizing the expansion of the project to be developed on the properties from seventeen (17) housing units to no more than filly -two (52) long term housing units plus no more than ten (10) units of emergency transitional housing. 6. Discussion and proposed resolution authorizing the deobligation of 28" Year Community Development Block Grant (CDBG) funds in the amount of $484,580.43 from the Section 108 Loan Guarantee Program and further reallocating said funds to the Housing Loan Recovery Fund for the purpose of protecting the City's Horsing Loan Portfolio. 7. Discussion and proposed resolution allocating Community Development Block Grant (CDBG) funds from the Previously approved District 5 Little Haiti Job Creation Pilot Project Set -Aside in the amount of $90,000 tD Neptune and Son Restaurant and Beauty Shop, Corp. for the restaurant and $60,000 to Neptune and Son Restaurant and Beauty Stop, Corp. for the Beauty Parlor in the form of foe (5) year deferred, forgivable loans with the provision that the funds be used to create and maintain new employment opportunities for residents of the Little Haiti neighborhood for a period of five (5) years, strbject lo submission of evidence of available financing to complete each project Interested individuals are encouraged to attend this public Hearing. The meeting site is accessible to the handicapped. (Ad No.11564)