HomeMy WebLinkAboutR-91-0009i
J-91-18
12/26/90
RESOLUTION N009
A RESOLUTION AUTHORIZING THE CITY
ATTORNEY TO INITIATE APPROPRIATE LEGAL
PROCEEDINGS AND CIVIL ACTION AGAINST
ALVESTER MARTIN, PAUL BANNERMAN AND
OLIVER GROSS D/B/A INTREPID THREE
COMPANY, INC. TO RECOVER LOAN FUNDS IN
THE AMOUNT OF $11,825.00 RECEIVED BY
SAID INDIVIDUALS THROUGH THE MODEL CITY
SMALL BUSINESS DEVELOPMENT PILOT LOAN
PROGRAM.
WHEREAS, the Miami City Commission is committed to the
economic development and the expansion of trade and commerce in
the City of Miami; and
WHEREAS, the City Commission adopted Resolution No. 87-923
authorizing the establishment of the Small Business Development
Pilot Program in Model City; and
WHEREAS, the aforementioned loan recipients have received
$30,000 from the Model City Small Business Development Pilot
Program; and
WHEREAS, the loan recipient has made payments totalling
$18,175.00 to -date; and
WHEREAS, Alvester Martin, Paul Bannerman and Oliver Gross,
owners of Intrepid Three Company, Inc., have defaulted on their
Promissory Agreement with the City of Miami and payment is more
than 60 days past due; and
WHEREAS, said loan funds were provided to assist loan
recipients in maintaining and completing its contract requirement
with the City's Department of Public Works; and
WHEREAS, Intrepid Three Company, Inc. has defaulted on
contract B-2974-A, with the Department of Public Works by its
failure to perform and abandoning the project;
CITY COMMMSION
NJfEEt'ING OF
J AN 10 1991
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 hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. The City Attorney is hereby authorized to
initiate appropriate legal proceedings and civil action against
Alvester Martin, Paul Bannerman and Oliver Gross d/b/a Intrepid
Three Company, Inc. to recover loan funds in the amount of
$11,825.00 received by said individuals through the Model City
Small Business Development Pilot Program.
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this loth day of
AT S
MYnTY HIRAI
CITY CLERK
COMMUNITY DEV ENT EVIEW AND APPROVAL:
FRANK CASTAN-tDAf DIRECTOR
DEPARTMENT OF COMMUNITY DEVELOPMENT
PREPARED AND APPROVED BY:
ALB I E B. SMITH
CHIEF ASSISTANT CITY ATTORNEY
APPROVED AS -TO,
JORGE L: FER
CITY ATTORNE
AQJ/gfa/gmb/M1953
Z
ANQ CORRECTNESS:
Janua
XAVIER . L . \SUARE
1991.
CITY OF MIAMI, FLORIDA
INTEROFFICE MEMORANDUM CA 12
TOHonorable Mayor and Members DATE : JAN - 21991 FILE
' of the City Commission
Authorization to Initiate
SUBJECT: Default Proceedings
FROM: Cesar H. Odi
REFERENCES: Alvester Martin, Paul Bannerman,
City Manager Oliver Gross d/b/a Intrepid
ENCLOSURES: Three Company, Inc.
RECOMMENDATION
It is recommended that the City Commission authorize the City
Manager to advise the City Attorney to proceed in initiating
default proceedings as it relates to the Model City Small
Business Development Pilot Program against loan recipients
Alvester Martin, Paul Bannerman, and Oliver Gross owners of
Intrepid Three Company, Inc. to recover the City's loan funds in
the amount of $14,095.00.
BACKGROUND
On August 1, 1990, Alvester Martin, Paul Bannerman and Oliver
Gross owners of Intrepid Three Company, Inc. received a $30,000
loan via the Model City Small Business Development Pilot Program
and executed a Promissory Agreement with the City of Miami,
outlining the terms of said loan.
The loan made to Intrepid Three Company, Inc. through the Model,
City Small Business Development Pilot Program, was. -based on the
company's need for working capital to satisfy its contractual
agreement with the City's Department Public Works. This
agreement with the Department of Public Works called for Intrepid
Three Company, Inc. to rehabilitate the City of Miami's Fire
Stations No. 4 and 5.
Based on Intrepid Three Company, Inc.'s total contract amount
with the Department of Public Works, Intrepid Three Company, Inc.
assigned its right to any earned contract proceeds to the
Department of Community Development to satisfy its loan
obligation.
On November 9, 1990, the Department of Public Works notified
Intrepid Three Company, Inc. that it had defaulted on its
contract agreement. Specifically, Intrepid Three Company, Inc.
failed to perform, abandoned the project and left the Fire
Stations in disarray.
C /�' aZ —'
91- 09
�4\
The Honorable Mayor and Members
of the City Commission
Page 2
r
Therefore, as a result of the above action, Intrepid Three
Company, Inc. has defaulted on its agreement with the Department
of Community Development. To —date, the Department of Community
Development has received payment totalling $18,175.00 However,
there is still an outstanding amount due of $11,825.00 ($30,000
18,173=$11,825).
In accordance with the aforementioned Promissory Agreement
between the Department of Community Development and Intrepid
Three Company, Inc., default exist by reason of nonpayment
inasmuch as no funds are available and/or due and payable to
Intrepid as outlined in its agreement with the Department of
Public Works.
Based on the above information, we are therefore requesting that
the City Commission authorize the City Manager to proceed with
legal action against Alvester Martin, Paul Bannerman, and Oliver
Gross d/b/a Intrepid Three Company, Inc. to recover the City's
funds.
/gj d
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91-- 09