HomeMy WebLinkAboutR-90-06694
E 7
RNSOLUTION N0.
90- 669
A "SOLUTION, AMORIS ilia THE CITY ATTOMEr TO
INtTlAft APORt PAIATN LWAL PROCMONO AND .
CIVIL ACTION AGAINST MR. LUIS 99MITESI D/b/A
B. 8. & SONS CORPORATION, TO RECOVER LOAN
FUNDS IN THE AMOUNT OP $43001.52 TO SAID
INDIVIDUAL THROUGH THE CIT"1019 SMALL
w
BUSINESS DEVELOPMENT PILOT LOAN PAOdRAM0
t"
T
-- WHEREAS, the Miami City Commission is committed to the
economic development and the expansion of trade and commerce in
-i the City of Miami; and y ,_-
WHEREAS, the City Commission adopted Resolution No. 88-743
authorizing the establishment of the, Citywide Small Business
Development Pilot Program; and
WHEREAS, the aforementioned loan recipient has received
$45,00,0 from the Citywide Small Business Development Pilot
Program; and
WHEREAS, the aforementioned loan recipient has made payments
of $1,698948 to -date; and
WHEREAS, Luis Benitez, owner of B. B. & Sons Corporation,
-
has defaulted on his 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:
EEL
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 le al
q proceedings and civil action against
i—
Luis Benitez, d/b/a B. B. b Sons Corporation, recover loan
,A
Ito
funds in the amount of $43,301.52 paid to said individual through
the Citywide Small Business Development Pilot Loan Program.
N,
r
G�
:11111�W or
SEP 7 1"Q Ow
x
7777
3SjX
1i
}
H
This **Ablution shall bee6so OffOtt t ►t a
imshdiateiy` upun its Adoption.
pAsgjD ANo AbopTsD this 7th day of tAit►ber. � 11�i1� pig
10
5]
RAVIER L. AREr::
s
MA'
ATTEST
i
JO 11L. FFIRNANDEZ
CI Y ATTOR EY*
T M�
{
$n¢�4
/ B,3 d/159
_.
t i �
ty
F
CITY OF MiAW, FLORIDA E:
IN MR -OFFICE MEMORANDUM
Honorable Mayor and Members
TO: ��-
y Commission �,
of the City : ' AUG 2 81990 Authorisation to 'Initiate
suscr : Default Proceedings_
FROM: Cesar H. Odio RWERENM:Luis Benitez d/b/a B. B.
= City Manager & Sons Corporation -
ENCLMRO : a�
120MRe>DATioe
1t:.-is recommended. that the City Commission authorize the City
Attorney to proceed in initiating default proceedings: as it
relates to the Citywide Small Business.Development' Pilot Program
Against Luis Benitez d/b/a B. B. Sons Corporation to recover,
the City's loan funds.
EACICOROUND
The Department of Community Development (DCD) has analysed 'the
need to initiate appropriate legal proceedings and civil,.actipn
x
t against Luis. Benitez d/b/a of B. )3. B-' Sons Corporation'.
r
October 21, 1988, Luis Benitez, owner of B. B.'b Sons Corporation
and the loan recipient of $45,000 via the, Citywide Small Business,
Development Pilot Program entered into a PromiseAgreement
f .
with the City of Miami. As of June b, 1989, the aforementioned-
loan recipient has defaulted on his agreement per the followlag �
torus: ,` f
TT— XK . 50.. DZIAULT PROVISION
1 Should there be a default in the _ punctual,*
full payment of interest or an ine-tall.esaat
principal due hereunder; or
12 Should the borrower fail to acceptTechni+iil
Assistance provided by the Ciky or fail rCo`
make financial. records available to Ci.>y
staff for review upon notification** or FA,
15 Should the borrower fail to' fetitbfts1T!Id
t full comPl with the Y y program re uir#oaPt.
and/or obligations of the borrove /-ID O � -
recipient s¢t forth im the Promioeor+ r
and Disbcreemen Agreement pert&I, Aug.. o 's' `
proo roA, which the be ro�rar her+sb ► rBFt
4
he ham raad, ,undsratood and sr+ee ,foi;r�4
9^ r x N y' y 1 Lh
The tofol loan Amount of $45 #000 - be@ been disba ed k
�a
yecipiaat� � --_
2r '
r 'r
Oid
F•
rf
4y ;
t ,
A '
.r kyE
—
Monorable. Mayor,, and Members
of the City Cowmission
Page 2
The recipient`s firstloan payment was
due on October
To -date, .we have received a total of $1,698.48 as payment on said
loan.
Based on' the above information, we are therefore requesting that
_
the; City -,,Commission authorize the City
Manager, to proceed with
legal action against'Y.uis Benitez d/b/a
B. B. 6 Sons Corporation
-
to recover the City's funds allocated
to the.. aforementioned
businei"a.. .,
d
z.
_ f?
F:
tm
a
: F
z
,
.. 4N
l
S 4
1
b
2yY
..
SI tF'
1. At
_
f