HomeMy WebLinkAboutR-90-08911�1
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J-90-884
10/29/90
RESOLUTION NO. 9 y
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
SUBMIT AN AMENDMENT TO THE APPROVED SIXTEENTH
(16TH) YEAR COMMUNITY DEVELOPMENT BLOCK GRANT
(CDBG) PROGRAM FINAL STATEMENT TO THE U.S.
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
j (HUD) TO REFLECT A PROPOSED ALLOCATION OF
FUNDS IN THE AMOUNT OF $225,000 FOR A
COMMUNITY DEVELOPMENT "FLOAT LOAN" DURING THE
1990-91 PROGRAM YEAR, SUBJECT TO THE
AVAILABILITY OF FUNDS, AND TO REFLECT A
TECHNICAL INCREASE IN REVENUES BY SAID AMOUNT
PLUS INTEREST ON SAID AMOUNT AT THREE PERCENT
(3%), FOR A PERIOD OF ONE YEAR; FURTHER
i DIRECTING THE CITY MANAGER, UPON APPROVAL OF
SAID AMENDMENT BY HUD, TO BRING BEFORE THE
COMMISSION FOR ITS REVIEW AND APPROVAL ALL
NECESSARY AGREEMENTS FOR A PROPOSED LOAN TO
THE MIAMI MENTAL HEALTH CENTER TO ASSIST IN
LAND ACQUISITION FOR ITS HUD SECTION 202
HOUSING PROJECT.
WHEREAS, the City Commission approved Resolution No. 90-300
on April 12, 1990, authorizing the submittal of the approved
Community Development Block Grant Program Final Statement to the
U.S. Department of Housing and Urban Development (HUD); and
WHEREAS, the Miami Mental Health Center has requested a
Community Development "float loan" for land acquisition as part
of. the Center's HUD Section 202 Housing Project; and
WHEREAS, this Community Development "float loan" activity
will technically result in an increase of program revenues in the
amount of $225,000 plus interest of three percent (3%) for a
period of one year; and
WHEREAS, said designation of Community Development Block
Grant Funds by the City Commission requires an amendment zo the
previously submitted Community Development Program's Final
Statement;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
CITY COMMISSION
MEETING OF
N 0 V 8 1990
-1- " RESOLUTION ft. "' V L 1
t Y
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 submit
an amendment to the approved Community Development Block Grant
Program Final Statement to the U.S. Department of Housing and
Urban Development (HUD) to reflect a proposed allocation of funds
in the amount of $225,000 for the Community Development Block
Grant Program during 1990-91, subject to the availability of
funds, which will technically reflect an increase in revenues by
said amount plus interest of three percent (3%) for a period of
one year.
' Section 3. The City Manager, upon approval of said
amendment by HUD, shall bring before the CityCommission for its
i
i
review and approval all agreements pertaining to the proposed
1990-91 Miami Mental Health Center Community Development "float
loan" for the purpose of assisting in land acquisition for the
Center's HUD Section 202 Housing Project.
Section 4. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 8th day of
ATTES
MATT HIRAI, CITY CLERK
BUDGETARY DEPARTMENT APPROVAL:
MANOHARVURANA, DIRECTOR
DEPARTMF BUDGET
Novemb
qc
VIER L. SVAR3Z, MAY
, 1990.
FINANCIAL DEPARTMENT APPROVAL:
CQ' CARLO E. ARCIA, DIRECTOR
DEPARTMENT OF FINANCE
COMMUNITY DEVEW2ENT�APPROVAL:
L
FRANK CAS E A, DIRECTOR
DEPARTMENT OF COMMUNITY DEVELOPMENT
PREPARED AND APPROVED BY:
ALBER INE B. SMITH
CHIEF ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
JOR E L.JRDEZ
CI ATT
M1839
90- 891
-3-
r
CITY OF MIAM1, FLORIDA
INTER -OFFICE MEMORANDUM
TO: Honorable Mayor and Members
of the City Commission
35
DATE i CC T 3 01990 FILE
SUBJECT : Amendment to the
Sixteenth (16th) Year
Community Development
Block Grant Final
FROM REFERENCES Statement
Cesar H. Ode ENCLOSURESeity Commission Meeting
City Manager of November R. 1990
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the
attached resolution, authorizing the City Manager to submit an
amendment to the Sixteenth (16th) Year Community Development
Block Grant Final Statement to the U.S. Department of Housing and
Urban Development, for the purpose of providing a Community
Development "Float Loan" in the amount of $225,000.
BACKGROUND:
The Department of Community Development has analyzed the need to
submit an amendment to the Sixteenth (16th) Year Community
Development Block Grant Final Statement for a Community
Development "Float Loan" in the amount of $225,000 to the Miami
Mental Health Center (MMHC) for the purpose of assisting in the
land acquisition portion of the center's HUD Section 202 Handicap
Housing Program under which MMHC proposes to build 20 new housing
units for homeless and disabled persons.
The CD Float Loan will 'be provided to MMHC 'for a period of one
year at an interest rate of three percent (3%).
This is a preliminary action creating the mechanism to undertake
this loan.
Attachment: Resolution
90- 891