HomeMy WebLinkAboutItem #39 - First Reading Ordinance' �31
J-94-410
j -7/94
ORDINANCE NO.
AN ORDINANCE ESTABLISHING A NEW SPECIAL
REVENUE FUND ENTITLED: "FEDERAL HOME
INVESTMENT PARTNERSHIP GRANT PROGRAM (THIRD
YEAR)", AND APPROPRIATING $3,757,000 FOR
EXECUTION OF SAME AS APPROVED BY THE
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
(HUD) FOR IMPLEMENTATION OF THE HOME
INVESTMENT PARTNERSHIP PROGRAM; CONTAINING A
REPEALER PROVISION AND A SEVERABILITY CLAUSE.
WHEREAS, in November, 01 the Cranston -Gonzalez National
Affordable Housing (NAHA A t was signed into la ; a
WHEREAS, the c nterpiec of the Cranston-G za z Act is the
Home Inves t Partne ship Program (HO E Program), which
represents he st significant and far- h g piece of federal
housing legi io to come out ash'ngton in over ten (10)
years; an
HERE , for fiscal yea 1 1 5, Congress approved $1.275
bil io for the HOME P ogra whi ill be distributed by formula
to icipating sta s n un'ts of local government to enable
such a ities to desig ffor able housing strategies tailored to
the needs of their local%iarOets; and
WHEREAS, the Department of Housing and Urban Development has
awarded to the City of Miami a grant of $3,757,000 entitled
"Federal Home Investment Partnership Grant Program (Third Year)",
to provide housing activities for the period commencing July 1,
1994, and ending June 30, 1995; and
WHEREAS, the herein Ordinance is a proper vehicle to
appropriate the aforesaid grant;
-1-