HomeMy WebLinkAboutR-86-0229J-86-286 0 4
RESOLUTION NO. 86-229.,,
A RESOLUTION AMENDING SECTION 2 OF
RESOLUTION NO. 85-1234, ADOPTED
DECEMBER 19, 1985, ALLOCATING
$300,000 OF COMMUNITY DEVELOPMENT
BLOCK GRANT FUNDS TO THE LITTLE
HAVANA ACTIVITIES AND NUTRITION
CENTERS OF DADE COUNTY, INC. FOR THE
PURPOSE OF ACQUIRING A BUILDING
LOCATED AT 700 S.W. EIGHTH STREET;
AMENDING THE CONDITIONS FOR
ALLOCATING FUNDS TO SAID AGENCY.
WHEREAS, the City Commission adopted Resolution 85-1234 on
December 19, 1985, which allocated $300,000 to the Little Havana
Activities and Nutrition Centers of Dade County, Inc., for the
purpose of acquiring a building located at 700 S.W. Eighth Street
that will house the Senior Center that provides meals and other
services to elderly City of Miami residents and to assist in
securing the economic well-being of the East Little Havana area of
the City of Miami; and
WHEREAS, the allocation is conditioned on the agency securing
a grant in an equal amount from the State of Florida or other
sources; and
WHEREAS, the State of Florida has committed $300,000 and is
prepared to disburse $140,000 of the total by April 1, 1986, and
the remaining $160,000 in FY 1986 -87, which being July 1, 1986; and
WHEREAS, the Little Havana Activities and Nutrition Centers of
Dade County, Inc., has requested $140,000 of the City's allocation
of $300,000 to match State funds of $140,000, thereby enabling the
agency to purchase the property noted above by assuming an existing
mortgage of approximately $450,000 on the property; and
WHEREAS, this method of purchase would require amendment of
Section 2 of Resolution 85-1234 to modify the conditions for
allocating the City's funds and modifying the method for repayment
of the City's allocation in the event the property is sold;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. Section 1 of Resolution 85-1234, adopted December
19, 1985, which allocated $300,000 of Community Development Block
Grant Funds to the Little Havana Activities and Nutrition Centers
of Dade County, Inc., for the purpose of acquiring a building
M'BL'MC OF
8F-2M_
MAR 27 1980
located at 700 S.W. Eighth Street, is hereby amended in the
following particulars:
Section 2. The herein allocation is conditioned upon said
agency securing a grant in an equal amount from the State of
Florida or other sources and upon said agency demonstrating the
ability to operate from its new building with existing resources.
Should the matching grants) be secured in parts, the City shall
disburse a like part of the total allocation. When additional
matching grant(s) are obtained, the City will disburse like part(s)
up to a maximum of $300,000. The City shall be entitled to the
return of its herein grant or part thereof subject only to the
agency's payoff of an existing mortgage of approximately $450,000
on the property after which the City shall be entitled to the
return of its herein grant on a first priority basis from the
agency's receipt of sale proceeds if the building being acquired by
the agency is ever sold; further, in the event of such sale, the
City shall also be paid a pro rata of the building's increased
valuation as a form of interest upon the City's herein grant of
monies, said pro rata share as interest not to exceed 15%.
PASSED AND ADOPTED this _21thday of MARCH , 1986.
4�a 0/. �
VIER L. SUkREZ
MAYOR
ATTEST:
TTY HIRAI
ITY CLERK
PREPARED AND APPROVED BY;
ROBERT F. CLARK
CHIEF DEPUTY CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
LV<.LZ% S%o LVVV
CITY ATTORNEY
1Words and/or figures stricken through shall be deleted.
Underscored words and/or figures shall be added. Remaining
provisions are now in effect and remain unchanged. Asterisks
indicate omitted and unchanged material.
86-229-"