HomeMy WebLinkAboutR-90-0933J-90-1068
1/2/91
RESOLUTION NO. 9 Q- 9 3 3
A RESOLUTION APPROVING, IN PRINCIPLE, THE
CONTEMPLATED LOAN IN THE AMOUNT OF $50,000.00
TO LA REINA UNIVERSAL SHOE STORE BY MIAMI
CAPITAL DEVELOPMENT, INC. FOR A MINIMUM TERM
OF FIVE (5) YEARS WITH ALL OTHER TERMS AND
CONDITIONS TO BE AGREED UPON BY MIAMI CAPITAL
DEVELOPMENT, INC. AND LA REINA UNIVERSAL SHOE
STORE; ALSO APPROVING, IN PRINCIPLE, A
CONTEMPLATED LOAN TO DRAPERY, INC. WITH
AMOUNT AND TERMS TO BE AGREED UPON BY MIAMI
CAPITAL DEVELOPMENT, INC. AND DRAPERY, INC.
WHEREAS, the Miami City Commission recognizes the necessity
of providing assistance to business which have been mainstays of
a depressed area of the City for a number of years; and
WHEREAS, said businesses were directly impacted by the
recent disturbances in this area, with crippling financial losses
as a result; and
WHEREAS, Miami Capital Development, Inc. has indicated that
it is willing to provide such financial assistance;
WHEREAS, the Particular methods of loan assistance were
discussed at the C:i ty Cortvnission meeting of December 6, 1990;
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 loan contemplated to be made by Miami
Capital Development, Inc. to La Reina Universal Shoe Store in the
amount of $50,000.00 for a term of five (5) years with
established terms and conditions to be agreed upon by the two
parties is hereby approved, in principle.
CITY COMMISSION
MEETING OF
DEC $ W
l� 0- 9331
11
Section 3. The City Commission also hereby approves, in
principle, the granting of a loan by Miami Capital Development,
Inc. to Drapery, Inc. with the amount, terms and conditions to be
agreed upon by the two parties.
Section 4. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 6th day of December �-�Tr 1990.
ATTEST, / XAVIER L. VEZ, MA
`' A.
MA TY HIRAI
City Clerk
PREPARED AND APPROVED BY:
RAPAE1 P. DIAZ
Chief Assistant City. torney
APPROVED AS TO FORM AND
CORRECTNESS:
JOIRGE L . �ney
ERNANDEZ
City Atto
ROD/pb/M1959
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