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Home My WebLink AboutR-90-042011 J-90--426 5 /30 /90 RESOLUTION NO. P A RESOLUTION AUTHORIZING THE CITY ATTORNEY TO INITIATE APPROPRIATE LEGAL PROCEEDINGS AND CIVIL ACTION AGAINST WILLIE & MYRTLE C.'ALHOUN AND ANNIE LEE, AWW, INC., D/B/A KING THE TAILOR, TO RECOVER 'LOAN FUNDS IN THE AMOUNT OF $36,774.36 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 $36,774.36 from the Small Business Development Pilot Program; and WHEREAS, a $300 payment was made by the loan recipient, however, said check was returned for non -sufficient funds; and WHEREAS, Willie & Myrtle Calhoun and Annie Lee, AAW, Inc. owners of King the Tailor, have defaulted on their Promissory —_ - Agreement with the City of Miami and p<ayment 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 Willie & Myrtle Calhoun and Annie Lee d/b/a King the Tailor to .. recover loan funds in the amount of $36,774.36 paid to said rM C01%11,14:415SION MING CIF N 7 1990 - _ 90- 420 pi5DLD7itk5 t#a. 0 U individuals through the Model City Smal_1 Bi_)s i.ness Development Pilot Doan Program. Section 3. This Resolution shall. become effective immediately upon its adoption. PASSED AND ADOPTED this 7th day of. _ _June , 1990. XAVIER L. U REZ MAYOR CITY CLERK COMMUNITY DEVELOPMENT REVIEW AND APPROVAL: CASE DA, DIRECTOR DEPARTMENT OF COMMUNITY DEVELOPMENT PREPARED AND APPROVED BY: &*U:tk ALBERTINE B. SMITH CHIEF ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: t r 1 JORGE Z, ERNANDEZ CITY ATTO NEY M1521 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO Honorable Mayor and Members of th City Commission FROM Cesar H. Odio City Manager RECOMMENDATION DATE Im AY 2 91990 FILE SUBJECT Authorization to Initiate Default Proceedings REFERENCESWillie & Myrtle Calhoun and Annie Lee, AAW, Inc. d/b/a ENCLOSURES King the Tailor 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 Willie & Myrtle Calhoun and Annie Lee, AAW, Inc. d/b/a King the Tailor recover the City"s loan funds. BACKGROUND On December 16, 1988, Willie & Myrtle Calhoun and Annie Lee, owners of King the Tailor, and loan recipients of $50,000 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 ? 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 he has read, understood and agreed to; or A total of $36,774.36 has been disbursed to the loan recipient from an approved amount of $50,000. 99- 420 Honorable Mayor and Members of the City Commission Page 2 The recipient's first loan payment was due on June 1, 1988. Io- date, we have received a total of $300 as payment on said loan. Rased on the above information, we are therefore requesting that the City Commission authorize the City Manager to proceed with legal action against Willie & Myrtle Calhoun and Annie Lee, AAW, Inc. d/b/a Furniture Palace Discount, Inc. to recover the City's funds allocated to the aforementioned business. /gjd 90- 420 2.-- I-HI-'i/I irr/1/111 A 7,oI.wr I Oit Atl'I 110It i 7.1 N(; Tit C1 TY ItAifAGER TO AHFND THE 19RA-111 COtITRACT ACREF IE'11'1' RFTtJFFN MIAiiI CAPi'1AI. DI:VI.I.OPIiElJT, INC.. Arlie I'M: CITY OF 111 Art , IN A I Olttt ACCF1''i-A111.1: To TISF. C11'Y ATTORNEY,' FOR IIE PURPOSE OF RFALLOCATiNG iTS TWF.I.FTiI YF.AIt C I TYW I Or REVO},V I NG I,OAN FIfNI) AH011HT nF V 1 VE. 111)11D}tF1) T11Oil SA141) 001,1,ARS ( $5O1),O(1(1) TO TIIF. NFw1.Y CIt1:A'i'1•:1) CHA1.1. I11151 NF.SS 1)1•:Vr:1.0P?II•.NT Pi LOT PRnGRAII; FURI'll 1It AUTHOR IZIUG 1111: CITY iiANAGER TO APPROVE; "I Atli CAPITAL 1)F:VFI,r)I'll 1:11T INC. (NCI)i) i.ARt•IARKING l TS PRFsF,.wr RF:VOLV i NC LOAN FilN1) RAi.ANCE OF THIRTY-N I NF. 1II011 SAND S i X IIUNDI(F.D F I FTY-Fi Vt? 1)01.1,AItS (S31),65'►) FOR T11F Fill A1,1, RIISiNESS 1)FVF1.0I1HEN1' 1' 11.0T PROGRAM; FURTIIER A11'f)InitIzING Tit I` CITY tiANAGER TO FSTARLIS11, iN 1'R1NCII'I.F., (FXr:1,111)1NG Hn1)Fl, CITIES), A C I TYw 1 01: Si1A1.1. Nils i NF•.SS nFvF.I.oI`1iI:N'T P i LOT PIt0GI(A?I S1111.II-.C'1• TO THE APPROVA1. r)F THE. CiTY COHit 15S1ON; F111(Till'It AUT1101tIR1NG TIIF CiTY HANAGF.R TO 1)1It)',(:T MI Ali CAPiTA1. TO 1)iV11)I. SA111 Al4OUHT OF FIV1: 1111N1)RF1) T}IIHTY NiNE 1*II011sAND S i K IIIINDRED FI FTY-FIVE DOLLARS (S539,655) , wl1'li ONE-IIALF Olt TWn 1111NDItF.1) S 1 XTY-N I NF. TIIoI11;ANI► F I GIIT IIIIN1)RED TWENTY- SFVFN i1OLLARS AND FIFTY CENTS (5269,927.50) Ai.LOCATF.D TO TI11: HODE.I. CITIES TARGET AREA AND TitF. 11A1,AHCE OF TWO II11N1)RED SIXTY-NiN17 TIIOUSAND E1G)IT HUNDRED TWF,N'I'Y-SI•:VF:N DOLLARS AND F I FTY CV'NT S (S 269 , 97 7 . 5O) A1.1,nF.ATED TO THE RL4AlUJN(; CITYWIDE. TARGET AREAS WITH SA11) AlIOHNT OF 11'w0 1111NIIRF1) S i XTY-N i NI: TISOl1SAND I,IGIIT 111INDRI'D 5'WI.N'I'Y-tiI:VF:N DOI.I.AllAtli) FIFTY CF.NTS ( $ 7 I'M .11 7 1 .'10) TO i11*, II51:11 1`0It T111: CITYW111F: Sit A1.1. ItIISMESS 1)F.VF.11011111:NT PILOT PROGRA4. W11}.ItEAS, t he CI t y Commi as 1 on I R co►nml t Led to Lite erottnteir development nnt! the expansion of Trade sttd Commerce In Lite City of Hlamt; and Wit GRF.AS, Hot Ion M.. 97-062 adopted aeptemher 28, 1987 nttthorIzed HIaml Cnpitai I)f.velopment, Inr. (HCD[) to eaLkrk its I present 10a11 hind •hnlnnre of -thirty-nine tltnttsand six, itnndred I fltty - five dollars (S1'1,6',`t) for ltle Sinall Bits iness Development PI I nt Ptogi atn; anti 90- 420 CITY COMMISSION MEETING OF OCT 22 190? ICDIUIICill fin. t3"t11 F UAPVt WIIP,REAS, tltc c.11y"r. 1welfth (12th) Yrnr nllornl lot) ntnonnl. of IIVv hundred 11101iSand dal larS ($500,000) Rh,l1 he rnrmarkeit f o v 0 thr Small IlusinVS- 1)rvr111l+m"11t P11ot ProRt•am; null WIIhRLAS, tltr Iota1 r;%tm of five hundred t.hIrty-nilie thousand Six• Ititn(Iret) f Ifty -f I v r dollars ($5�19,fi55) (539,655r$500,000-$539,000) presently nvailahle to f1Cp1" Revolving Lonn Fttntl 1'rny,rnin shall he enrm..lrked for the Small Iltlnlnesr. l►evelopment 1'i lot Program; nnd. WIIERF.AS, Rnld nvailable funds slinl I he divided equally w1111 oue-l►alf (two hundred slxty-nine thousand eIght hundred twenty- Reven dollars nnd fifty rent I; $269,FI27.50) to he nllocnted for thr ticldrl City s ma I nit. ;Iit ess Pilot Proy,ratn nod tl►e remnInlnp, one - half (two hundred Sixty - nine t11ousanct elrhl hundred twenty- sevctt dollars nnd fifty rent -, $269,027.50) to he earmarked fir _i thr Citywide Small Auslness development Pilot Program, -1 NOW TIIERI:FORF,, RI: 11' ItI:SO1.VF,i) BY TIIE COHIIISSION OF THE CITY OP fit All i FLORIDA: SerI Ion I The City llannger it; hereby authorized to amend the 1996-07 rontrart agrermrtit with III atit l Capital Development Cnfpntat Ion, Inr. for the ptirpone of al Inratlnl; Its Twelfth (12t1) Yen or Citywide Revolving Loan fund amount of five hundred th.otisand dollars ('$500,000) to' the newly created Smal I business development pilot progi-tin . — Section 2. The Clty Manager is hereby authorized to direct IICDI to set Aside its remnining loan fund balance of thirty nine thottr,and six hundred fifty-f ive dollarFi ($39,655) for the Sma:l IltiSlners Pilot Proprnm. Section 3, The Clty Manager its hereby nttthorized to direct HUlll I divide Itl; Uwe IItI1 (121.h) Year CItywlde RevoIvljig Loaf; Vmill nmount nnd I t s prrr.ent l oan f toil (I IlaI ance 1 to itaI f ($')(10,0001$390655-$53.9,655/2-$269,027.50)' .Bilk equal amounts to he nl lornted hetweeit the Model C(ly Small fltlsiness Development ProD;ram n/tit ihr Citywlrle Small fltlSIness Develo11meItt _-- I't (,gi am. 90 420 Sao PAsSr, I) AND AD0rriAj t 1, I n 22nd A1'1'i :T HA-111RA1 C i TY' CLERK day of OcLt�I��t i n _XAVTI;R 1.. ;II ItI:Z FIAYOR COMHUN I TY bEV I. PHENT REVIEW AND APPROVAL: y FItANK CAST ANV.DA, DIRECTOR DEPARVIENT OF COHHIINITY DEVELOPMENT F I NANCF. DEPARTMENT REV I EW Atli) APPROVAL: CAi LOS CARC I A , DIRECTOR h1:PARTFIENT OF FINANCE NANAGE4ENT & RVOGET REVIEW AND APPROVAL: 11`1 MANt)IIAIt S11 IL AMh, 1)IRFC'I'OR DLPARTHEINT 0'. HANAGF,HF.NT b RIJUGFT PRVPAREO AND APPROVEI) BY- F. CLERK CII t F,F IIEPIITY CITY ATTORNFY APPPDVE1) O FORM Al) Ct)RItE(:1'NESS: -A I)ctUGI J'Y t;l ATTORNEY 9�- 420