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Home My WebLink AboutR-99-07523 LT- 99-834 10/4/99 RESOLUTION NO. r A RESOLUTION OF THE MIAMI CITY COMMISSION AMENDING SECTION 2 OF RESOLUTION NO. 98-297, ADOPTED MARCH 24, 1998, BY ELIMINATING THE SPECIFIC COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) FUNDED PROJECTS AND INCOME ACCOUNTS { IDENTIFIED IN THE AFORESAID RESOLUTION TO PROVIDE PROJECT FINANCING TO THE EAST LITTLE HAVANA COMMUNITY DEVELOPMENT CORPORATION FOR THE PROPOSED LATIN QUARTER SPECIALTY CENTER PROJECT WITH SAID FINANCING IN THE AMOUNT OF $1,600,000 TO BE PROVIDED FROM COMMUNITY DEVELOPMENT BLOCK GRANT PROJECT NO. 707216. i WHEREAS, THE City Commission adopted Resolution No. 98-297 at its meeting of March 24, 1998 that allocated $1,600,000 of reprogrammed Community Development Block Grant funds from specifically identified accounts to provide project financing to the East Little Havana Community Development Corporation in connection with the proposed Latin Quarter Specialty Center project; and WHEREAS, said financing is not available through the accounts identified in Resolution No. 98-297; and WHEREAS, project financing for the East Little Havana Community Development Corporation, Latin Quarter Specialty Center project has been identified in unexpended CDBG project funds and CITY CoMMMSSION MEETING OF nrT 1 2 1S�19 Rorolution No. L- ! CDBG program income; 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 hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. i Section 2. Section 2 of Resolution 98-297 is hereby amended in the following particularsll: Section 2. Unexpended Community Development Block Grant (CDBG) program funding it-ems--t fel e'"+— � _peeified is hereby reallocated to Project No. 707216 111ie amount of $1,600,000 for the purpose of providing project financing to the East Little Havana Community Development Corporation in connection with the proposed Latin Quarter Specialty Project. i i -,r inn nnn nn ----- _i i n 4..,:,- } rat ` _• �--I '�' cG6 �-�f ron nnn nn words and/or figures stricken through shall be deleted. Underscored words and/or figures shall be added. The remaining provisions are now in effect and remain unchanged. Asterisks indicate omitted and unchanged material. Section 3. This Resolution shall become effective immediately upon adoption and signature of the Mayors/. PASSED AND ADOPTED this 12th day of October , 1999. JOE CAROLLO, MAYOR In accordance with Miami Code Sera. 2-36, since trip msyci c: v.. nc, this legislation by signing it in the designated p!::_,e " 7. becomes effective with the elapse of ten (10) ria ii:,i:: regarding same, without the Mayor exerc CIO* f ATTEST: WALTER J. FOFMAN ('TTV rT.Puu itv Clerk 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. 3 - J 75 CITY OF MIAMI. FLORIDA 4 INTER -OFFICE MEMORANDUM TO' The Honorable Chairman and DATE: ��I FILE Members of the City Commission SUBJECT : Resolution Re -allocating $1.6 Million of CDBG Funds to East Little Havana Community FROM: REFERENCES. Development Corporation o /Idl��'arshaw City Commission Meeting of City Manager ENCLOSURE& October 12, 1999 RECOMMENDATION: It is respectfully recommended that the City Commission adopt the attached resolution amending Section 2 of Resolution No. 98 -297 by eliminating the specific Community Development Block Grant (CDBG) funded project and income accounts identified in the aforementioned Resolution to provide project financing to the East Little Havana Development Corporation in the development of the Latin Quarter Specialty Center project. The Department of Community Development has identified $1.6 million from other unexpended CDBG project funds and program income to finance this project. BACKGROUND: At its meeting of March 24, 1998, the City Commission adopted Resolution No. 98-297 that reallocated $1.6 million in specific Community Development Block Grant (CDBG) funded project and income accounts identified in the aforementioned Resolution to provide project financing to the East Little Havana Development Corporation f'or the development of the proposed 45-unit mixed - use Latin Quarter Specialty Center Project, planned in the Little Havana neighborhood. The East Little Havana Development Corporation recently packaged sufficient financingo together to move fonvard with this important affordable housing commercial revitalization project. In processing the agreement with the City of Miami for the aforementioned $1.6 million allocation of CDBG funds, it was determined that adequate funding was not available in the specific accounts identified in Resolution No. 98-297 to meet this funding commitment. The Department of Community Development identified funding from the account balances of other unexpended CDBG projects and program income to satisfy the City's funding obligation to the East Little Havana Development Corporation. However, since the source of these funds differs from the specific accounts identified in Resolution No. 98 - 297, the Law Department advised the Department of Community Development that this item would have to be brought back to the City Commission for approval, The proposed resolution effectuates the original intent of the City Commission to provide $1.6 million to the East Little Havana Development Corporation to fund the Latin Quarter Specialty Center Project by identifying other unexpended CDBG project fund balances and program incorne to meet the City's funding commitment. JJ �1-5,4 i } It is recommended that the City Commission adopt the proposed Resolution that reallocates $1,6 million in CDBG Program funds to enable the East Little Havana Development Corporation to move forward with the construction of the proposed Latin Quarter Specialty Center Project. DHW/ BlGCW/DF I NOTICE OF PUBLIC HEARING ;.:••T_ Pursuant to the Department of Housing and urban Development 74 CFR Part 91, et al: the Miami City Commission will conduct a Public Hearing to reallocate $1.6 million of Community Development Block Grant (CDBG) funds from unexpended CDBG project funds and program income to the East Little Havana Community Development Corporation for the development of the Latin Quarter Specialty Center. The proposed reallocation replaces a previous award of $1.6 million for this project and maintains the City's commitment to finance the Latin Quarter Specialty Center Project. The Public Hearing will be held: Tuesday October 12, 1999 10:00 A.M. City of Miami Commission Chambers 3500 Pan American Drive Miami, Florida Interested individuals are encouraged to attend the above Public Hearing. The meeting site is accessible to the handicapped. (Ad. No. 05583) J-98-301 3/13/98 RESOLUTION NO 9 8 -" 297 A RESOLUTION AUTHORIZING THE CITY MANAGER TO RE -ALLOCATE $1,877,000.00 IN AVAILABLE COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROGRAM FUNDING FROM CERTAIN CDBG-FUNDED PROJECTS AND PROGRAM INCONIE, AS SPECIFIED IN SECTION 2 AND SECTION 3 OF THIS RESOLUTION, FOR THE PURPOSE OF (1) PROVIDING FINANCIAL ASSISTANCE TO THE EAST LITTLE HAVANA COMMUNITY DEVELOPMENT CORPORATION IN' CONNECTION WITH THE DEVELOPMENT OF THE PROPOSED LATIN QUARTER SPECIALTY CENTER PROJECT PLANNED IN THE LITTLE HAVANA NEIGHBORHOOD AND (2) PROVIDING ADMINIST'R.ATIVE FINANCIAL SUPPORT FOR THE SOUTHEAST OVERTWN/ PARK WEST COMMUNITY REDEVELOPMENT AGENCY; AUTHORIZING AND DIRECTING THE CITY MANAGER TO EXECUTE THE APPROPRIATE LEGAL AGREEMENTS AND DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, IN CONNECTION WITH THE DISBURSEMENT OF SAID FUNDING. WHEREAS, at the February 10, 1998 City Commission meeting, through Motion No. 98-168, the City Commission approved in principle, the allocation of $1,600,000.00 in Community Development Block Grant Program funding to the East Little Havana Community Development Corporation, for the development of the proposed Latin Quarter Specialty Center Project, a 45-unit mixed -use project planned at 1475 S.W. 8h Street in the Little Havana neighborhood; and co =Dv Q r /� /�f�e /lam r\ ii i �:VI�i�T34�7sio DOM TNG OF. MAC 2 41998 : Howladon No. 9 WHEREAS, the Department of Community Development has identified approximately $1,600,000.00 in available Community Development Block Grant Program funds from various CDBG projects and program income accounts which can be re -allocated to provide funding for this project, and WHEREAS, the City Administration recommends the re -allocation of the aforementioned CDBG Program funds for the purpose of providing the aforementioned funding to the East Little Havana Community Development Corporation, which consists of $700,000.00 to fund the housing component and $900,000.00 to fund the commercial/retail component of the proposed mixed -use project; and WHEREAS, the City Administration recommends the re -allocation of $277,000.00 to provide financial assistance for the administrative operations of the Southeast Overtown/Park West Community Redevelopment Agency to implement the Southeast Overtown/Park West Redevelopment Project in the Overtown CD target area. NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF NifAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. Section 2. Unexpended Community Development Block Grant (CDBG) program funding from the following CDBG-funded projects and program income accounts as specified below, is hereby re -allocated for the purpose of providing project financing to the East Little Havana Community Development Corporation in connection with the proposed Latin Quarter Specialty Center Project. Project Name Project Account Codes Amount 1. Housing Loan Recovery Fund 799250 $300,000.00 2. Commercial Code Compliance Program 799613 $323,000.00 3, Housing Rehabilitation Loan Programs 799201 $387,000.00 (Program Income) 4. Municipal Shops Relocation Project 799618 $590,000.00 Total $1,600,000.00 Section 3. Unexpended CDBG program funding from the following CDBG-funded projects and program income accounts as specified below, is hereby re -allocated for the purpose of providing administrative financial support to the Southeast Overtown/Park West Community Redevelopment Agency for the implementation of the Southeast Overtown/Park West Redevelopment Project. Project Name Project Account Codes Amount 1. Housing Loan Recovery Fund 799250 $200,000.00 2. Commercial Code Compliance Program 799613 $77.000.00 Total $277,000.00 Section 4. The City Manager is hereby authorized' and directed to execute the appropriate legal agreements and documents, in a form acceptable to the City Attorney, between the City of Miami and the East Little Havana Community Development Corporation in connection with the disbursement of said funds associated with the development of the Latin Quarter Specialty Center Project. The hearing authorization is further subject to compliance with all requirements that may be imposed by the City Attorney, including, but not limited to, those prescribed by applicable City Charter and Code provisions. -3- •'M Section 5, The City Manager is hereby authorized and directed to transfer the funding herein allocated to the Southeast Overtown/Park West Community Redevelopment Agency ("CRA") into the account established for the CRA. Section 6. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 24 th day of March 1998. JOE C AROLLO, MAYOR I to accordance with Miami Code Sec. 2.36, since the Mayor did not indicate approval of this legislation by signing it in the designated place provided, said legislation ;;v-i ATTEST: becomes effective with the elapse of ten (10) days from the date of Comm,ssicn action regarding same, wittwut the Mayor exercising a v Walter J. Foeman Walt . Foe ,City Cleric i City Cleric CO Ty VEOPMENT DEPARTMENT RE P VAL: Gwen olym . W en, Director Dep me Of Community Development i REVIEWED AS TO ACCOUNTING AND TREASURY OFFICE OF BUDGET AND MANAGEMENT REQUIREMENTS: ANALYSIS REVIEW Lo des Reyes, C ptroller Dipak Parekh, Director epartment OfF'nance Office Of Budget And Management Analysis V r I j I -4 t fl.0 -IN PREPARED AND APPROVED BY: APPROVED AS TO FORM AND