HomeMy WebLinkAboutItem #11 - First Reading OrdinanceJ-93-454
6/28/93
ORDINANCE NO.
AN ORDINANCE ESTABLISHING A NEW SPECIAL
REVENUE FUND ENTITLED: "FEDERAL HOME
INVESTMENT PARTNERSHIPS GRANT PROGRAM (SECOND
YEAR)," AND APPROPRIATING $3,493,000 FOR
EXECUTION OF SAME AS APPROVED BY THE
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
(HUD) FOR IMPLEMENTATION OF THE HOME
INVESTMENT PARTNERSHIPS PROGRAM; CONTAINING A
REPEALER PROVISION AND A SEVERABILITY CLAUSE.
WHEREAS, in November, 1990, the Crans o onzalez National
Affordable Housing (NA Act was signed i to law; and
WHEREAS, the enter iece of the C�a ton -Gonzalez Act is the
Home Investm n P rtnerships Pr ram (HOME Program), which
repress t e o t signifi nd far-reaching piece of federal
housi g gi ation to co 0 of Washington in over ten (10)
i
years, d
WH AS, for fisoa year 1993-1994, Congress approved $1.0
billion for the HOME Program which will be distributed by formula
to participating states and units of local government to enable
such entities to design affordable housing strategies tailored to
the needs of their local markets; and
WHEREAS, the Department of Housing and Urban Development has
awarded to the City of Miami a grant of $3,493,000 entitled
"Federal Home Investment Partnerships Grant Program (Second