HomeMy WebLinkAboutR-91-0194..WIN
91-210
3/4/91
RESOLUTION NO. H _ 194 -
A RESOLUTION AUTHORIZING THE CITY
ATTORNEY TO INITIATE APPROPRIATE LEGAL
PROCEEDINGS AND CIVIL ACTION AGAINST
JASPER & MARY SWEET, D/B/A JASPER
PAINTING SERVICE, INC., TO RECOVER LOAN
FUNDS FROM THE MODEL CITY SMALL BUSINESS
DEVELOPMENT PILOT LOAN PROGRAM IN THE
AMOUNT OF $39,793.21 PROVIDED TO SAID
INDIVIDUALS.
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
t,
authorizing the establishment of the Small Business Development
Pilot Program in the Model City; and
WHEREAS, the aforementioned business owners, Jasper and Mary
_
Sweet, received a $75,000.00 loan from the City of Miami; and
WHEREAS, $39,793.21 of the original loan amount is due to
the City of Miami; and
WHEREAS, Jasper and Mary Sweet, owners of Jasper Painting
Service, Inc., have defaulted on their Promissory Agreement with
the City of Miami and payment is more than 120 days past due;
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
l
initiate appropriate legal proceedings and civil action against,_
section 3. Thig Reablution
immediately upon its adoption.
PASSED AND ADOPTED this 14th day
ATTES011
I MA AYHIRASIIOAO
CITY CLERK
COMMUNITY
shall become
REVIEW AND APPROVAL:
effective
0
5K,, DIAE CTOR
FRANK CAST
DEPARTMEN T7
COMMUNITY DEVELOPMENT
PREPARED AND
APPROVED BY:
SMITH
ALBkR--TIME B.
CHIEF ASSISTANT CITY ATTORNEY
APPROVED AS
0 -qGE L. FE
CITY ATTORN
TO FORM AND CORRECTNESS:
ANDEZ
r.
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M2074
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0,
CITY OF MIAMI, PLORIbA
s INTEA-OF ICE MEMORANDUM CA=161
to Honorable Mayor and Members ontE : MAR 4 191 FILE
of the City Commission
susJEct Authorization to Initiate
Default Proceedings
FROM: Cesar H. Odio REFERENCES J a a p e r Mary Sweet d/b/a c
City Manager Jasper Painting'Service,
�t : P Inc,.
ENCLOSURES -
RECOMMENDATION
It is recommended that the City Commission authorize the City
Attorney to proceed in initiating default proceedings as it
relates to the Model City Small Business Development Pilot
Program against Jasper & Mary Sweet owners of Jasper Painting
Service, Inc. to recover the City's loan funds.
BACKGROUND
On March 11, 1988, Jasper & Mary Sweet, owners of Jasper Painting
Service, Inc., and loan recipient of $50,000 via the Model City
Small Business Development Pilot Program entered into a
Promissory Agreement with the City of Miami. As of September 1,
1990 the aforementioned loan recipients has defaulted on their
agreement per the following terms:
ITEM NO.
1
;1
[�
12
;I
ii
I
13
0
l
DEFAULT PROVISION
Should there be a default in the punctual and ut
full payment of interest or an installment of
principal due hereunder; or
Should the borrower fail to accept Technical
Assistance provided b the City or fail to P Y Y ��-
make financial records available to City `f
staff for review upon notification; or
Should a
�k other lien
and/or the
Y�
mortgage, mechanics, laborers or x
be foreclosed against the borrower
business premises; �.
k�
,
2
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SF'
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a
2-
J � 2--��ii �. •7L � e�
'
Honorable Mayor and Members
.r
of the City Commission
Page 2
A total of $50,000.00`has been disbursed to
the loan
recipients.
To -date, the loan recipients have , made
payments
totalling k_
leaving an outstanding balance of
$10,206.79, g
$59,793.21
($50,000-10,206.79-$39,793.21). No further
payments
have been
made on this loan since December, 1989.
Based on the above information, the Department of Community is
requesting that the City Commission authorize the City Manager to
proceed with legal action against Jasper & Mary Sweet d/b/a
Jasper Painting Service to recover the City's funds allocated to
the aforementioned business.
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