HomeMy WebLinkAboutItem #31 - First Reading Ordinance-12
J-87-214
3/13/87
ORDINANCE NO.
AN ORDINANCE AMENDING SECTION 1 OF ORDINANCE
NO. 10187, ADOPTED DECEMBER 11, 1986, THE
CAPITAL IMPROVEMENT APPROPRIATIONS ORDINANCE,
BY ESTABLISHING A NEW CAPITAL IMPROVEMENT
PROJECT ENTITLED: "SCATTERED SITE AFFORDABLE
HOUSING DEVELOPMENT PROGRAM" PROJECT NO,
321034, AND BY APPROPRIATING FUNDS IN THE
AMOUNT OF THREE MILLION NINE HUNDRED NINETY
SEVEN THOUSAND EIGHT HUNDRED DOLLARS
($3,997,800) FROM SPECIAL OBLIGATION BONDS,
SERIES 1986A, FOR THE PURPOSE OF PROVIDING
FINANCING FOR THE CONSTRUCTION OF OWNER -
OCCUPIED RESIDENTIAL HOUSING UNITS AFFORDABLE
TO FAMILIES AND INDIVIDUALS OF LOW AND
MODERATE INCOME; CONTAINING A REPEALER
PROVISION AND A SEVERABILITY CLAUSE.
WHEREAS, there exists, in the City of Miami, a severe shortage
of homes within the affordability range of families individuals
of low and moderate income; and
WHEREAS, the City Commission r og t e ecessity to
stimulate the development of sales hou n within th affordability
limits and purchasing power of familie and individuals of low and
moderate income; and
WHEREAS, on Octobe 8 , the City Commission passed and
adopted Resolution No. 86 8 which approved implementation of the
Scattered Site Affor ble sing Development Program in the City's
Community Developm t Target Areas for the purpose of providing
owner -occupied res ntial units within the affordability range of
qualified to a and o rate income purchasers; and
W EREAS, on ober 23, 1986, the City Commission passed and
o rdi a No. 10165, which authorized the issuance of
Oblig on Bonds, Series 1986A for the purpose of providing
ng for the construction of owner -occupied residential units
adopt
Speci
f ina
includi
,yl% designated
such incidental
Community Development Target Areas,
costs in connection with the
implementation of the aforementioned Program;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
AFft IP3J0006