HomeMy WebLinkAboutR-89-0546t
Afth
J-89-547
5/30/89
RESOLUTION NO.
A RESOLUTION AMENDING RESOLUTION NO. 88-1179;
AUTHORIZING THE CITY MANAGER TO ALLOCATE
$200,000 FROM THE CITY'S SINGLE FAMILY
REHABILITATION PROGRAM FOR THE PURPOSE OF
PROVIDING LOAN FUNDS TO SMALL AND/OR
DISADVANTAGED CONTRACTORS/DEVELOPERS INVOLVED
IN THE DEVELOPMENT OF THE HOUSING IN
OVERTOWN/PARK WEST, AT AN INTEREST RATE NOT
TO EXCEED SIX PERCENT (6%); FURTHER
AUTHORIZING THE CITY MANAGER TO EXECUTE AN
AGREEMENT BETWEEN THE CITY AND SMALL AND/OR
DISADVANTAGED CONTRACTORS/DEVELOPERS FOR SAID
PURPOSE, IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY; THE PRINCIPAL AND INTEREST BEING
RETURNED TO THE CITY'S SINGLE FAMILY
REHABILITATION PROGRAM FUND; FURTHER
CONDITIONING ALL OF THE ABOVE UPON RECEIPT OF
FEDERAL APPROVAL FOR THE USE OF SAID
ALLOCATION FOR THE HEREIN STATED PURPOSE.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1.
December 14, 1988,
particulars}`/ :
Resolution No.
is hereby amended
88-1179, adopted
in the following
"Section 1. The City Manager is authorized to
execute a contract between the City and
small and/or disadvantaged housing
contractors/developers, in a form acceptable to the
City Attorney, for the purpose of implementing a loan
fund for- -, , _ l_r disadvantaqed housinq---- ractors
in the Overtown/Park West Development Area.
Section 3. Interest rc—sari lcra=
—for its
-ratrative cost and t3te- principal will be returned
to the City's Single Family Rehabilitation Program
Fund.
Words and/or figures stricken through shall be deleted.
Underscored words and/or figures shall be added. The
remaining provisions are now in effect and remain unchanged.
Asterisks indicate omitted and unchanged material.
CITY COMMISSION
MEETING OF
JUN 7 1989
)N No. 89-546'
Ic
Section 2. The herein amendments shall only be
implemented upon receipt of federal approval for the use of said
allocation for the herein stated purpose.
Section 3. This Resolution shall become effective
immediately upon its adoption pursuant to law.
PASSED AND ADOPTED this 7th day of ,June 4"_ , 1989.
/
XAVIER L. tJARE, 44AYOR
ATTEST.e7v/
ry
MATTT HIRAI
CITY CLERK
BUDGETARY REVIEW AND APPROVAL:
MANOHAR S. SURAN , RECTOR
-_
DEPARTMENT OF BUDG
FINANCIAL REVIEW AND APPROVAL:
CARL69 E. GARCIA, DIRECTOR
DEPARTMENT OF FINANCE
PREPARED AND APPROVED BY:
ROBERT F. CLERK
CHIEF DEPUTY CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
JO GE F RNANDEZ
CI Y ATTOR EY
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CITY OF MlAMl, FLORIDA 20
INTER -OFFICE MEMORANDUM
TO: Honorable Mayor and Members
of the City Commission
/�7
FROM : eSa�. OdiO
City Manager
RECOMMENDATION:
DATE : MAY 3 1 1999 FILE :
SUBJECT : SEOPW Minority Loan Fund
REFERENCESFor City Commission Meeting
of June 7, 1989
ENCLOSURES:
It is respectfully recommended that the City Commission adopt the
attached proposed resolution amending resolution R-88-1179
authorizing the City of Miami's Department of Development as the
administrator for the small and/or disadvantaged contractor loan
fund (SEOPW Minority Loan Fund).
BACKGROUND:
The Department of Development has prepared the attached
legislation. The SEOPW Minority Loan Fund was authorized for
funding in December of 1988, to assist minority contractors who
were successful bidders on the SEOPW project. The proposed
amendment will expedite the process and further assist minority
contractors with obtaining working capital monies on a timely
basis.
Attachments:
Resolution
K
El
F
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
m
TO : Honorable Mayor and Members DATE : MAY 3 �989 FILE
of the City Commission
' SUBJECT: SEOPW Minority Loan Fund
FROM : eSar H. Odio REFERENCES For City Commission Meeting
City Manager of June 7, 1989
ENCLOSURES: '^
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the
attached proposed resolution amending resolution R-88-1179
authorizing the City of Miami's Department of Development as the
administrator for the small and/or disadvantaged contractor loan
fund (SEOPW Minority Loan Fund).
BACKGROUND:
The Department of Development has prepared the attached
legislation. The SEOPW Minority Loan Fund was authorized for
funding in December of 1988, to assist minority contractors who
were successful bidders on the SEOPW project. The proposed
amendment will expedite the process and further assist minority
contractors with obtaining working capital monies on a timely
basis.
Attachments:
Resolution