HomeMy WebLinkAboutR-90-0418J--90-425
5/24/90
RESOLUTION NO. 90 - 418
A RESOLUTION AUTHORIZING THE CITY
ATTORNEY TO INITIATE APPROPRIATE LEGAL
PROCEEDINGS AND CIVIL: ACTION AGAINST
JEAN P. CASSEUS AND MARIE THOMAS, D/B/A
FURNITURE PALACE DISCOUNT, INC., TO
RECOVER LOAN FUNDS IN THE AMOUNT OF
$17,125.04 PAID TO SAID INDIVIDUALS
THROUGH THE MODEL CITY SMALL BUSINESS
DEVELOPMENT PILOT LOAN PROGRAM.
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
authorizing the establishment of the Small Business Development
Pilot Program in Model City; and
WHEREAS, the aforementioned loan recipients have received
$20,000 from the Small Business Development Pilot Program; and
WHEREAS, the loan recipient has made payments totalling
$2,874.96; and
WHEREAS, Jean P. Casseus and Marie Thomas, owners of
Furniture Palace Discount, 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
initiate appropriate legal proceedings and civil action against
Jean P. Casseus and Marie Thomas, d/b/a Furniture Palace
Discount, Inc., to recover loan funds in the amount of $17,125.04
CITY C1C3MbUSSION
MEETING OF -
J U N 7 19W
90. 418
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paid to said individuals through the Phodpl City Small susi.ness
Development Pilot Loan Program.
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 7th day of June _ , 1990.
rmmc rm.
CITY CLERK
COMMUNITY DEVELOPMENT REVIEW AND APPROVAL:
FRANK CA$ ANEDA, DIRECTOR
DEPARTMENT OF COMMUNITY DEVELOPMENT
PREPARED AND APPROVED BY:
ALBER INE B. SMITH
CHIEF ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
f',f 1 c
JYO GE FEjNANDEZ
CI Y ATTORNEY
M1520
XAVIER L. S AREZ
ELK XOR
90- 418
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CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
To Honorable Mayor and Members
of the City Commission
Lt
FROM Cesar H. Odi
City Manager
RECOMMENDATION
CAm2'1
DATE i M AY 2 91990 FILE
SUBJECT: Authorization to Initiate
Default Proceedings
REFERENCES:Jean P. Casseus & Marie Thomas
d/b/a Furniture Palace
ENCLOSURES Di s c o u n t, Inc .
It is recommended that the City Commission authorize the City
Manager to advise the City Attorney to proceed in initiating
default proceedings as it relates to the Model City Small
Business Development Pilot Program against Jean P. Casseus and
Marie Thomas d/b/a Furniture Palace Discount, recover the
City's loan funds.
BACKGROUND
On April 12, 1988, Jean P. Casseus and Marie Thomas owners of
Furniture Palace Discount,. Inc. and loan recipients of $20,000
via the Model City Small Business Development Pilot Program
entered into a Promissory Agreement with the City of Miami. As
of October 1, 1989 the aforementioned loan recipients has
defaulted on their agreement per the following terms:
ITEM NO. DEFAULT PROVISION
1 Should there be a default in the punctual and
full payment of interest or an installment of
principal due hereunder: or
12 Should the borrower fail to accept Technical
Assistance provided by the City or fail to
make financial records available to City
staff for review upon notification; or
15 Should the borrower fail to faithfully and
fully comply with the program requirements
and/or obligations of. the borrower/loan
recipient set forth in the Promissory Note
and Disbursement Agreement pertaining to the
program, which the borrower hereby represents
lie has read, understood and agreed to; or
A total of. $20,000 has been disbursed to the loan recipient from
an approved amount of $20,000.
90- 418
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Honorable Mayor and Members
of the City Commission
Page 2
The recipient's first loan payment was due on October 1, 1988.
To-dat , we have received a total of $2,874.96 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 _Jean P.
Casseus and Marie Thomas
d/h/a
Furniture
Palace Discount, Inc.
to recover the City-s
funds
allocated
to the aforementioned
business.
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