HomeMy WebLinkAboutR-88-0616J-88-649
4/1/88
(M-88=160)
t or
RESOLUTION NO. 44-6tG
A RESOLUTION
AUTHORIZING THE CITY MANAGER TO EXECUTE AN
AGREEMENT, IN A FORM ACCEPTABLE. TO THE CITY
ATTORNEY, BETWEEN THE CITY OF MIAMI AND THE
BAYSIDE MINORITY FOUNDATION, FOR THE PURPOSE
OF IMPLEMENTING A TECHNICAL ASSTSTANCF.
PROGRAM FOR SMALL AND/OR DISADVANTAGED
BUSINESSES AT BAYSIDE; FURTHER DIRECTING THE.
CITY MANAGER TO ALLOCATE A TOTAL OF FIFTY
THOUSAND DOLLARS ($50,000) WITH TWENTY-ETGHT
THOUSAND FOUR HUNDRED DOLLARS ($28,400) FROM
THE UNCOMMITTED BALANCE OF APPROXIMATELY ONE
HUNDRED EIGHTEEN THOUSAND DOLLARS (S118,000)
THAT REMAINS OF THE ORIGINAL ONE MILLION
DOLLARS ($1,000,000) ESTABLISHED BY THE CITY
FOR LOANS TO MINORITY BUSINESSES AT BAYSIDE;
AND TWENTY-ONE THOUSAND SIX HUNDRED DOLLARS
($21,600) FROM THE COMMUNITY DEVELOPMENT
BLOCK GRANT FUND; FURTHER DIRECTING THE CITY
MANAGER TO AMEND THE BAYSIDE AGREEMENT
BETWEEN THE CITY OF MIAMI AND MIAMI CAPITAL
DEVELOPMENT, INC., IN A FORM ACCEPTABLE TO
THE CITY ATTORNEY, FOR THE PURPOSE OF
REDUCING ITS BAYSTDE MINORITY FINANCING
PROGRAM ALLOCATION AMOUNT; CONDITIONING ALL
OF THE ABOVE UPON RECEIPT OF FEDERAL APPROVAL
FOR THE USE OF SAID ALLOCATION FOR THE HEREIN
INTENDED PURPOSE.
WHEREAS, the City Commission is committed to economic
development within the City; and
WHEREAS, the Bayside Minority Financing Program has proven
to be a most successful and commendable City of Miami sponsored
community development program, whereby minority entrepreneurs
whose businesses are located at Bayside have received financial
assistance through this low interest loan program, which has
contributed to the successful establishment and operation of
minority owned businesses at Bayside; and
WHEREAS, the Bayside Minority Foundation has offered to
develop and implement a Technical Assistance Program for small
and/or disadvantaged businesses at Bayside; and
CITY COMMISSION
MEETING OF
JUL 141983
27R
'ION Nu. -61%
S:
or
W11ER1{,AS, the Technical Assistance grogram shall include, but
not be limited to, Financint and Accounting Services, Promotional
and Marketing Strategies and Inventory Cnntrol; and
WHEREAS, the City of Miami's financial contribution towards
this grogram will be limited to sttatl and/or disadvantaged
businesses at Bayside who have been recipients of loans from
locally based public funded agencies; and
WHEREAS, at its February 18, 1998 Meeting, the City
Commission adopted Motion No. 88-160 which authorized the City's
participation in this effort and directed the City ?tanager to
fund the City's contribution from the uncommitted balance that
remains out of the one million dollars ($1,000,000) originally
allocated by the City for loans to minority businesses at Bayside
and the above Motion further directed the City Manager to amend
the Bayside Minority Financing Program Agreement between the City
of Miami and Miami Capital Development, Inc. to reflect the
reduction in available funds for this effort;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to execute
an agreement with the Bayside Minority Foundation, in a form
acceptable to the City Attorney, for the purpose of implementing
a Technical Assistance Program for small and/or disadvantaged
businesses at Bayside, with the City's contribution limited to
minority tenants who have been recipients of loans from locally
based public funded agencies.
Section 2. Twenty-eight thousand four hundred dollars
($28,400) from the uncommitted balance of approximately one
hundred eighteen thousand dollars ($118,000) that remains of the
one million dollars ($1,000,000) originally established by the
City for loans to minority businesses at Bayside is hereby
reallocated to the Bayside Minority Foundation.
,.2-
88-616
Section 3. Twenty-one thOtt sand siz hundred dollars
($21,600) from the Community Development Mock Grant Fund Is
hereby allocated to the Bayside Minority Foundation,
Section 4. The Bayside Minority Financing program Agreement
between the City of Miami and Miami Capital Development, Inc.
shall be amended to reflect the reduction in the total allocation
amount for said organization's Minority Financing Program.
Section 5. The provisions of Sections 1, 2, and 3 hereof
shall only become operative upon receipt of Federal approval for
the utilization of funds as set forth herein,
1988.
PASSED AND ADOPTED this 14th day of. July
XAVIER L. SUAREZ, AYOR
4HATTESIRAI
CITY CLERK
PREPARED AND APPROVED BY:
RO BE RT F . CLARK
CHIEF DEPUTY CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
JORGE L'.7 FF. NANDEZ
CITY ATTO RN Y
BUDGETARY REVIEW AND APPROVAL:
/
MANOHAR,4tURANA, DIRECTOR
DEPARTkNT of MANAGEMENT AND BUDGET
.
—3—
819-616
VtVANCt DtPAltMNT REVIEW ANt A' PROVAL4
CARD RCIA, DIRECTOR
b8PARTMbAT OF FINANCE
COMMUNITY DEVELOPMENT REVIEW AND APPROVAL
FRANK CASTANEDA, DIRECTOR
DEPARTMENT OF COMMUNITY DEVELOPMENT