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Home My WebLink AboutR-97-0759J-97-745 10/20/97 RESOLUTION NO. 9 7 - 7 % 9 A RESOLUTION AUTHORIZING THE CITY MANAGER TO REALLOCATE $2,880,000.00 OF AVAILABLE COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROGRAM INCOME AND CONTINGENCY FUNDS TO BE ALLOCATED FOR ELIGIBLE CITY SPONSORED CDBG ACTIVITIES IN LOW AND MODERATE INCOME DEVELOPMENT TARGET AREAS AS HEREIN SPECIFIED; FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE INDIVIDUAL AGREEMENTS, IF APPLICABLE, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, WITH AGENCIES AND/OR LOAN APPLICANTS FOR SAID PROJECTS. WHEREAS, the City Commission is desirous of providing assistance to low and moderate target areas; and income community development WHEREAS, the Department of Community Development has identified an available balance of $2,880,000.00 of available Community Development Block Grant (CDBG) Program Income and Contingency funds which can be reallocated for eligible City - sponsored CDBG activities; and WHEREAS, the City Administration recommends the reallocation of the aforementioned CDBG Program funds to carry out projects that are -,necessary for the betterment of the community; and WHEREAS, the proposed CDBG activities are important components of the City's development strategy plan to address the needs of the community; CITY COMMISSION MEETING OF. A CT 2 8 1997 Resolution No. 97- 759 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 incorporated herein as if fully set forth in this Section. Section 2. Unexpended Community Development Block grant (CDBG) Program Income and Contingency Funds in the amount of $2,880,000.00 are hereby allocated for the purpose of assisting low and moderate income Community Development target areas in the City of Miami, Florida as follows: Project Name Lyric Village Housing Project $ 500,000.00 Bayfront Park Capital Improvements $ 480,000.00 Commercial Code Compliance $ 650,000.00 Commercial Paint Program $ 250,000.00 Housing Loan Recovery Fund $ 500,000.00 West Brickell Apartments Housing Loan $ 500,000.00 TQT L 52,880,000.00 Section 2. The City Manager is hereby authorized to execute individual agreements, in a form acceptable to the City Attorney, with the aforementioned agencies and/or loan applicants, if applicable, to implement their respective projects, subject to the approval of the City Attorney and to the conditions and limitations contained herein and in the City Code. Section 6. This Resolution shall become, effective immediately upon its adoption. - 2 - 7- 759 LJ • PASSED AND ADOPTED this 28th day of ATT T: ((' I", ALTER-Y61RMAR CITY CLERK REVIEW AND PROVAL: ELBER L. ATE , INTERIM DIRECTOR DEPARTMENT OF COMMUNITY DEVELOPMENT BUDGET AND MANA MENT ANALYSIS REVIEW: DIPAK PAREKH, D E OR PREPARED AND APPROVED BY: LTNbA K. KEAR90N ASSISTANT CITY ATTORN APPROVED AS TO FORM AND CORRECTNESS: a1z,4wil, A. QIJINN O ES, II CITY ATTO EY LKK/pb/W1957 October . 1997. - 3 - 97 759 CITY OF MIAMI, FLORIDA 3 `9 INTER -OFFICE MEMORANDUM Honorable Mayor and Members OCT 1 7 ;9)�7 TO of the City Commission DATE : FILE Public Meeting for the Reallocation SUBJECTof Available CDBG Program Income and Contingency Funds FROM : 4wM;arquz REFERENCES: City Manager ENCLOSURES: RECOMMENDATION It is recommended that the City Commission adopt the attached Resolution which'reprograms $2.88 million dollars of available Community Development Block Grant (CDBG) funds from Program Income and Contingency to certain City sponsored CDBG activities. (See Attachment I for the breakdown of the recommended allocations). The recommended allocations will in no way impact any CDB ctivity currently underway. A public hearing has been advertised in the local media in accordance-Avith HUD regulations. 3 7- 759 1 Attachment I Recommended Allocation Project blame Lyric Village Housing Project $ 500,000.00 Pursuan to Resolution 97-505, this Project will provide construction financing to St. John Community DevelopmentCorporation in connec- tion with the development of the proposed 96units Lyric Village Housing Project located at Northwest 8d' and 10'h Streets between N.W. 1 S` and 2nd Avenue, by the aforementioned notfor profit corporation. Bayfront Park Capital Improvements $ 480,000.00 Providing construction financing for capital improvements to Bayfront Park, specifically, walkways, resurfacing of the Laser Tower, Challenge Memorial, fountain, lighting, rehabilitation of Rock Garden, etc. Commercial Code Compliance $ 650,000.00 To provide economic development assistance to small blighted com- mercial businesses located only in the commercial corridors of the C.D. target areas (interior code violations only, i.e., electrical, plumbing, mechanical and fire related). Total maximum CDBG assistance per building is 70% up to $7,000.00. Property owner contributes 30% up to $3,000.00 for a maximum of $10,000.00 per business. Commercial Paint Program $ 250,000.00 A funding pool for commercial facade rehabilitation of for profit business within established target areas. This fund is administered by the CBO's which select businesses that can meet a HUD National Objective. Business owner contributes 30% up to $600.00 for a maximum of $2,000.00 per business. The maximum CDBG program contribution is 70% up to $1,400.00. 2 97- 759 0 Housing Loan Recovery Fund $ 500,000.00 CDBG Program funding for the purpose of protecting the City's Housing Loan Portfolio. Said funding would be used to purchase and/or maintain loans that are superior to the City's junior loans that have been made available to private owners on private developers under the City's Single Family and Multifamily Rehabilitation Loan Programs while foreclosure processing are being instituted by the City for recovery of its loans. West Brickell Apartments Housing Loan This activity involves making available CDBG Program funding to the Downtown Miami Community Development Coalition in the form of a loan in connection with the financing of the West Brickell Apartments Project, located at 955 S.W. 2nd Avenue. (130 Units) $ 500,000.00 TOTAL $2,880,000.00 CDBG Program Income and Contingency funds were identified from previously approved CDBG Projects to fund new eligible projects in low and moderate income areas in the City. <Shazed/Resolutions-ResoCommisOct28>mb 57- 759 3 u G (I)DEVELOPMENT REQUEST FOR PUBLIC COMMENTS ON THE PROPOSED AMENDMENTS TO THE COMMUNITY BLOCK GRANT FUNDING ALLOCATION Federal regulations governing the Community Development Block Grant (CDBG) Program require that a participating jurisdiction provides citizens with reasonable notice of and opportunity to comment on any substantial amendments to the CDBG Program and the City of Miami's Consolidated Plan. The City of Miami is proposing to re -program available CDBG Program Income and Contingency to fund new eligible projects in low and moderate income areas: Lyric Village Housing Project $500,000.00 Bayfront Park Capital Improvements S480,000.00 Commercial Code Compliance $650,000.00 Commercial Paint Program $250,000.00 Housing Loan Recovery Fund $5001,000.00 West Brickell Apartments Housing Loan $500,000.00 Total $2,880,000.00 Accordingly, the City of Miami invites the public to comment on the re -allocation of CDBG Program Income and Contingency by writing to: The City of Miami Department of Community Development 444 S.W. 2nd Avenue, Suite 200 Miami, Florida 33130 Comments may be submitted during the regular office hours from 8:00 A.M. to 5:00 P.M., Monday through Friday. These amendments wilt be considered at a Public Hearing to be held any time after 9:OOA.M., on October 28,1997, during the regularly scheduled City of Miami Commission meeting to be held at 3500 Pan American Drive,Miami, Florida. The City of Miami provides equal access and equal opportunity in employment and services and does not discriminate on the basis of handicap. A person who decides to appeal any decision made by any board,agency, or commission, with respect to any matter considered at the meeting or hearing will need a record of the proceedings. Such person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based. Ad. No. 30" 5