HomeMy WebLinkAboutItem #36 - First Reading OrdinanceJ-95-972
11/27/95
ORDINANCE NO.
AN ORDINANCE ESTABLISHING TWO (2) SPECIAL
REVENUE FUNDS, AS FOLLOWS, AND APPROPRIATING
FUNDS FOR THE OPERATION OF SAME: "EDISON
PLAZA HUD, SECTION 10811, IN THE AMOUNT OF
$2,700,000, AND "EDISON PLAZA ECONOMIC
DEVELOPMENT INITIATIVE GRANT" IN THE AMOUNT
OF $670,000, AS APPROVED BY THE UNITED STATES
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
("HUD"), FOR A TOTAL COMMUNITY DEVELOPMENT
BLOCK GRANT ("CDBG") APPROPRIATION OF
$3,370,000; CONTAINING A REPEALER PROVISION
AND A SEVERABILITY CLAUSE.
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WHEREAS, the Department of Housin and ban Development
("HUD") has approved a Section 108 Loan uar tee in the amount
of $2,700,000 for the development of th ison Plaza Project by
the Tacolcy Economic Developmen Co o ion (TEDC); and
WHEREAS, HUD has also d an Economic Development
Initiative Grant in th am f $670,000 for the same project;
and
WHEREAS, the he n Ordinance is a proper vehicle to
appropriate the aforesai funds;
NOW, THE ORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY
OF MIAMI, F eJDA:
Sec ion 1. The recitals and findings contained in the
Prea e o this Ordinance are hereby adopted by reference