HomeMy WebLinkAboutItem #10E - First Reading Ordinance#_ 3
J-98-267
2/27/98
ORDINANCE NO.
AN ORDINANCE ESTABLISHING FOUR (4) NEW SPECIAL
REVENUE FUNDS UNDER THE FOUR TITLES LISTED BELOW
AND APPROPRIATING FUNDS FOR THE OPERATION OF
EACH OF THE FOUR (4) NEW SPECIAL REVENUE FUNDS IN
THE AMOUNTS SPECIFIED AS FOLLOWS: COMMUNITY
DEVELOPMENT BLOCK GRANT (TWENTY FOURTH YEAR) -
$12,655,000, HOME INVESTMENT PARTNERSHIP (HOME)
GRANT - $4,520,000, EMERGENCY SHELTER GRANT (ESG)
$501,000, AND HOUSING OPPORTUNITIES FOR PERSONS
WITH AIDS (HOPWA) GRANT - $7,732,000; AS APPROVED BY
THE U.S. DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT (HUD); FURTHER APPROPRIATING THE SUM
OF $3,000,000 FROM COMMUNITY DEVELOPMENT BLOCK
GRANT (CDBG) PROGRAM INCOME TO BE ALLOCATED AS
FOLLOWS: $1.5 MILLION FOR THE HOUSING
REHABILITATION LOAN PROGRAM; $1.4 MILLION FOR
MIAMI CAPITAL DEVELOPMENT INC. REVOLVING LOAN
FUND PROGRAM AND $100,000 FOR BUILDING DEMOLITION
ACTIVITIES; FURTHER APPROPRIATING THE SUM OF
$200,000 FROM ESTIMATED HOME PROGRAM INCOME FOR A
TOTAL APPROPRIATION OF $28,608,000; CONTAINING A
REPEALER PROVISION AND A SEVERABILITY CLAUSE.
WHEREAS, it is anticipate
tlXt the U.S. Department of Housing and Urban
Development (HUD") will aw f*&*Ve City of Miami a grant of $12,655,000 entitled
"Community Develop^ eni�rVA Grant (Twenty -Fourth Year)" to provide community
development activitiesTqj tl�pWriod commencing June 1, 1998, and ending May 31, 1999; and