HomeMy WebLinkAboutR-91-0097J"91-147
2I14I91
RESOLUTION NO. 9 1. "
A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER
INTO A LOAN AGREEMENT, IN A FORM ACCEPTABLE TO THE
CITY ATTORNEY, WITH THE FLORIDA INTERAMERICAN FILM,
TELEVISION, VIDEO AND RECORDING ASSOCIATION, INC., IN
AN AMOUNT NOT TO EXCEED $2590009 AT SIX PERCENT (6%)
INTEREST PAYABLE WITHIN 60 DAYS, IN SUPPORT OF THE
"INTERAMERICAN CO -PRODUCTION FILM MARKET AND
CONFERENCE 191", TO BE HELD APRIL 11-140 1991;
ALLOCATING FUNDS THEREFOR FROM THE SPECIAL PROGRAMS
AND ACCOUNTSO CONTINGENT FUND, WITH REPAYMENT OF SAID
FUNDS TO BE MADE FROM NET PROCEEDS OF THE CONFERENCE;
SAID AUTHORIZIATION AND ALLOCATION BEING SUBJECT TO
APPROVAL BY THE INTERNATIONAL TRADE BOARD.
WHEREAS, the City of Miami through its Office of Film, Video and
Recording has co -sponsored two "InterAmerican Co -Production Film Market and
Conferences"; and
WHEREAS, the Conferences have been an overwhelming success and have made
a major impact on the international film industry; and
WHEREAS, due to budget restrictions, the City of Miami can no longer
provide grant monies for the Conference but because of the impact the
Conference has on the community and the truly great opportunity for economic
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development it provides; however, the City is willing to make a loan at six
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percent (6%) interest to the Florida InterAmerican Film, Television, Video and
Recording Association, Inc., in the amount of $25,000, to provide start-up
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capital for the InterAmerican Co -Production Film Market and Conference
and
WHEREAS, the Florida InterAmerican Film, Television,.Video and Recording
Association, Inc., has agreed to reimburse the City from the net proceeds of
the Conference within 60 days after the close of the Conference;
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 Manager is hereby authorized to enter into a
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loan agreement-r, in a form acceptable to the City Attorney, between the City
{ of Miami and the Florida InterAmerican Film, Television, Video and Recording
` Association, Inc., in an amount not to exceed $25,000) in support of the
"InterAmerican Co -Production Film Market and Conference 19111, to be held
April 11•-14, 1991; with funds therefor being hereby allocated from the Special
Programs and Accounts, Contingent Fund, and with repayment, of said funds to be
made from net proceeds of the Conference at six percent (6%) interest, payable
within 60 days after the completion of the Conference. The herein
authorization and allocation is subject to the approval of the International
Trade Board.
Section 3. This Resolution shall become effective immediately
upon its adoption.
PASSED AND ADOPTED this 14th day of
1991.
1
CITY OF MIAMI, FLOMDA
INfEtI-orpleE MWOnANDUM
February 14, 1991
'Honorable Mayor and Members DATE FILE
7° : of the City Commission
Loan Request for "Inter
SUMECT : American Co -Production
Film Market and Confer- f'
ence��April 11-14, 1991
I FROM
Cesar H. Odio
REFERENCES:
City Manager.
EIJCLOSURES : �
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RECOMMENDATION
It is respectfully recommended that the City Commission adopt the
attached Resolution authorizing the City Manager to make a loan of
$25,000 from the City's Special Programs and Accounts - Contingent
Fund in support of the "InterAmerican Co -Production Film Market and
r Conference 19111, to be held April 11-14, 1991.
"{. BACKGROUND
For the past two years,
the City of Miami, through its Office of
Film, Video and Recording has co-spons The conferencthe esAmerican have beenan
Production Film Market and Conference .
overwhelming success and have made a major impact on the
international film industry.
due to budget restrictions, the City is not in a
Unfortunately,
to provide the necessary grant funds needed by
! positon, at this time,
the conference and provided in past years. However, because of the
has on the community'` and the .truly great
impact this conference
opportunity for economic development - which translates into jobs for
people who live here, increased tourism and the promotion of the City
u.� - the City
as an international leader in the entertainment industry
is willing to loan $25,000 to the conference to provide start-up
capital.
1 the Office of Film, Video,
After the conclusion of the conference,
and Recording will reimburse the City for its $s5onsors�adonationsn from e
proceeds of the conference (registration fees, p
etc.)
The film, television, video and recording industries area; growth
industries in South Florida making them an important part of Miami s:
economic future. It is therefore requested that the City Commission
adopt the attached Resolution authorizing the City Manager to make a.
loan in the amount of $25,000 to the Office of Film,
Video And
' Recording in support of this year's "InterAmerican Co -Production Film
Market and Conference".
Attachments: Proposed Resolution
91- -- 9'7
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