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Home My WebLink AboutR-86-0216r= J-86-251 3/18/86 -'. RESOLUTION NO. 86-216 A RESOLUTION ALLOCATING AN AMOUNT NOT TO EXCEED $1,000,000 AS THE CITY'S '7 CONTRIBUTION TO THE BAYSIDE MINORITY y}�` FINANCING PROGRAM TO PROVIDE FINANCIAL ASSISTANCE TO MINORITY ENTREPRENEURS IN -- >t z? LOCATING WITHIN THE BAYSIDE SPECIALTY CENTER; SAID ALLOCATION BEING MADE FROM THE FOLLOWING SOURCES: $300,000 FROM THE CITYWIDE SMALL BUSINESS INVESTMENT A CORPORATION (SBIC) LOTH YEAR FUNDS; a $100,000 FROM THE CITYWIDE TECHNICAL ASSISTANCE PROGRAM (LOTH YEAR); $586,261 F FROM 11TH YEAR COMMUNITY DEVELOPMENT N ' BLOCK GRANT FUNDS; AND $13,739 FROM THE s ay' 12TH YEAR CDBG CONTINGENCY ACCOUNT; PROVIDING THAT ALL OF SAID MONIES BE PAID - - TO MIAMI CAPITAL DEVELOPMENT, INC. WHO ' WILL BE RESPONSIBLE FOR DISBURSEMENT OF t. THE SAME ONLY TO QUALIFIED CITY RESIDENTS. ` a: ----------------- � w n: WHEREAS, the City of Miami and the Bayside Center Limited Partnership entered into an agreement dated January 14, 1985; and PS WHEREAS, the City of Miami and the Bayside Center Limited Partnership are committed to ensuring that 5096 of the leasing -� spaces in the Bayside Specialty Project are set aside for 3 { minorities; and i WHEREAS, the majority of these minority entrepreneurs will need financial and technical assistance in order to locate in the $_ Bayside Specialty Center; and WHEREAS, the City Commission adopted Motion No. 86-119 at the February 13, 1986 meeting instruoting Assistant City Manager 4 Herbert J. Bailey, as follows: to gather all the necessary information in connection with the proposed allocation of funds to assist minority entrepreneurs in locating in the Bayside Specialty Center; CM COMMION x0mc OF MAR 1g 1988 wN2 6 to meet with and bring all the entities together to analyze said information; and to come back to the City Commission with a formal recommendation; and WHEREAS, as a result of these efforts, Bayside Center Limited Partnership has committed $4 Million in cash for the program; the Business Assistance Center has committed $750,000 and Metropolitan Dade County will commit $1,000,000 dependent upon the City's allocation of $1,000,000 for financial and technical assistance to the minority entrepreneurs; and WHEREAS, the Bayside Minority Tenants Committee is committed to provide individual business consultants to assist the minority entrepreneurs on a pro bono basis and Miami Capital Development Inc. will provide two (2) loan analysts/packagers to work in the loan packaging office; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. An amount not to exceed One Million Dollars ($1,000,000) is hereby allocated as the City's matching fund for the Bayside Minority Financing Program to provide financial and technical assistance to minority entrepreneurs in locating in the Bayside Specialty Center. Section 2. Said funding allocation is to be made from the following sources: $300,000 Citywide Small Business Investment Corporation (SBIC) - loth Year. $100,000 Citywide Technical Assistance Program (loth Year) funds previously allocated to Miami Capital Development Inc. to provide technical assistance A= to loan recipients. $688,281 Program income received during the llth year Ea - Community Development Block Grant (CDBG) Program as a result of the reimbursement from the Dade County Water & Sewer Authority for sewer improvements completed in the City of Miami with CDBG funds. $13,739 12th Year CDBG Contingency Account. Section 3. All of the above monies are to be paid to Miami Capital Development, Inc. who will be responsible for disbursement of the same only to residents of the City of Miami who otherwise qualify to receive assistance under said Program. PASSED AND ADOPTED this 18th day of MARCH 1988. XAVIER L. 4UAREZ MAYOR A TT7 HIRAI CITY CLERK PREPARED AND APPROVED BY: ROBE T F. CLA CHIEF DEPUTY TY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: It c LUcTA A. DOUGHERTY CITY ATTORNEY LAD/RFC/rr/132 CI?'Y OF MIAMI. FLORit)A INTER -OFFICE MEMORANDUM 43 The Honorable Mayor and March 6, 1986 TO. Members of the City DATE: FILE: Allocation of $1 Million Commission ,,.;,� SUBJECT: as the City s Contribution 41 to the Bayside Minority Financing Program to Assist Cesar Odio Minority Entrepreneurs REFERENCES �� n : FROM:City Manager March 18th Agenda y ENCLOSURES: ' "It is recommended that the City Commission adopt the attached resolution allocating an amount not to exceed $1,000,000 as the City contribution to the Bayside Minority Financing Program to i nori t provide entrepre eial urs ci i n x+ to Y assistance locating in the Bayside Specialty Center; said allocation has been identified from the following sources: $300,000 from the Citywide Small Business Investment Corporation (SBIC) loth Year Funds; $100,000 from the Citywide Technical thnce YearPro gram Communityl0th Year); Development ' E586,261 fromom 1111 Block Grant (CDBG) Funds received as a result of a reimbursement from the Dade County Water & Sewer Authority for sewer improvements completed in the City of Miami with CDBG funds; and $13,739 from the 12th Year CDBG Contingency Account." Background At the February 13, 1986 City Commission meeting, the Commission rr, passed Motion #86-119 instructing Assistant City Manager Herbert { Bailey as follows: to gather all the necessary information in connection with the i` proposed allocation of funds to assist minority entrepreneurs in locating in the Bayside Specialty Center; 2) to meet with and bring all the entities together to analyze said ^ information; and 3) to come back before the City Commission with a formal F -up recommendation. �i As a result of Mr. Bailey's efforts, the following information represents the commitments made by The Rouse Company, the Bayside ..,: _` Minority Tenants Committee, the Business Assistance Center, Miami n 86-216 Honorable Mayor and Members of the City Commission Page 2 key Capital Development Inc. and Metropolitan Dade County (See attached commitments for further information) . f The Rouse Company/Bayside Center Limited Partnership The minority participation agreement between Bayside Center Limited Partnership, the developer, and the City of Miami requires the fy, lease and bring into operation as many developer to seek to identi oal. It minority merchants as possible, wi thout ofe thettin s a es ci n iBaysi de for commits the developer to set aside 50% P leasing to minorities and to take other steps, including working with 1 ocal government and private entities to establish a financing program to aid minority entrepreneurs in setting up businesses at Bayside. 0 1^ As such, the Bayside Center Limited Partnership has committed $4 million in cash for the Bayside minority financing program. These funds are committed as part of the lease negotiation based on store size and use, merchant resources, expected sales and profitability, etc. The grants are not repayable and can be used for any legitimate purpose normally recognized as a financeable cost by the approved lender, including legal, accounting, design fees, construction, furniture, fixtures and equipment, inventory, and working capital. In addition to the $4 million, Rouse -Miami, Inc. will provide office space, telephone and furniture for a loan packaging office to be located adjacent to the Rouse -Miami, Inc. office located on the 7th floor of nBoulevard. i loan packaging ipoffice i ll provide a oe-stop, centralized agencyto expedite the processing of the financial/loan packages. Further; personnel from Rouse -Miami with the loan packaging office packages through private and public Bayside Minority Tenants Committee , Inc. will be designated to work in processing the minority loan lending institutions. The Bayside Minority Tenants Committee, comprised of private sector businesspersons and the banking community, was formed in September, 1985 to aid the City and The Rouse Company in the development and execution of the Bayside Minority Tenants Program. The Bayside Minority Tenants Committee has committed itself to supply, on a pro- bono basis, individual business consultants, as required, to ensure that minority tenants are fully prepared to meet the formidable challenge and opportunities of operating a business at Bayside. $6-216 Honorable Mayor Members of the Page 3 and City Commission Business Assistance Center In September, 1984, the Business Assistance Center (BAC) committed itself to set -aside $7509000 for loans to Black City of Miami/Dade County citizens who are successful in obtaining a lease in the Bayside Specialty Project. In addition to its $750,000 commitment, the BAC has hired a consultant, specifically for the purpose of identifying local Black entrepreneurs interested in participating in the leasing and funding process for the Bayside Specialty Center. Mimi Capital Development Inc. Miami Capital Development Inc. two (2) Loan Analysts/Packager and assist in the processing addition, MCDI will provide temporary basis, if needed a commitment. Metropolitan Dade County (MCDI) has committed itself to provide s to work in the loan packaging office of the minority loan packages. In a third Loan Analyst/Packager on a nd will manage the City's financial Metropolitan Dade County's Office of Community and Economic Development is committing $1 million ($500,000. from Metro Dade county's Eleventh Year Community Development Block Grant Funds and $500,000 from Twelfth Year Community Development Block Grant Funds) for financial and technical assistance to minority entrepreneurs locating in the Bayside Specialty Center. This commitment by Dade County is dependent upon the City's allocation of one million dollars for the Bayside Project. City of Miami In addition to the above commitments, we are requesting at this time that the City allocate $1,000,000 as the City's contribution to the Bayside Minority Financing Program to provide financial assistance to minority entrepreneurs looking to locate in the Bayside Specialty Center. The City's $1,000,000 funding match has been identified from the following sources: $300,000 Citwide Corporations(SBIll �)- 10 thnInvestment Year A\ 1^ 41 Honorable Mayor and Members of the City Commission Page 4 0 $1000000 Progrs ( 10t Year Technical ) Assistance Program funds previously allocated to Miami Capital Development Inc. to provide technical assistance to loan recipients $586,261 ProgilthraYearcome Communityedduring the Development Block Grant (CDBG) program as a result of the reimbursement from the Dade County Water b Sewer Authority for sewer improvements completed in the City of Miami with CDBG funds $ 13,739 12th Year CDBG Contingency Account Summary of Resources de A summary of the resources that o bave assi assist been minority a for the entrepreneurs i n minority financing program t locating in the Bayside Specialty Center is as follows: Funding In -Kind Services Rouse $4,000,000 Office Space Telephone Furniture Staff Bayside Minority -0- Pro-bono Individual Tenants Committee Business Consultant Assistance BAC $ 750,000 Consultant services MCDI -0 2 Full-time Loan Analysts/Packagers 1 Part-time Loan Analyst/Packager (if needed) Management of the City's financial commitment 86qP 21 U Honorable Mayor and Members of the City Commission Page 5 Dade County $1,000,000 City of Miami $1,000,000 TOTAL FUNDS $6,750,000 Recommendation As a result of the combined efforts of The Rouse Company, the Bayside Minority Tenants Committee, the Business Assistance Center, Miami Capital Development Inc., Metropolitan Dade County and the City of Miami over $6,.750,000 in funds and in -kind services will be available for the Bayside minority tenant financing program. In considering the Bayside minority financing program it is important to note that while some of the minority entrepreneurs will not need financing assistance, the majority of these entrepreneurs will have had little or no previous commercial banking relationships, be inexperienced in financial matters, and easily discouraged by the complexity, delay and bureaucracy associated with such a project. If the goal of attaining 50% minority merchants in the Bayside Specialty Center is to be realized it is important that the City allocate $1,000,000 to assist the Bayside Minority Financing Program. The funds for this program have been identified from the following sources: $300,000 Citwide Corporations(SBIC)ll i- 10thness nInvestment Year $100,000 Progrs Technical)ssis Program (10 hYearfunds previously allocated to Miami Capital Development Inc. to provide technical assistance to loan recipients $586,261 Program income received during the 11th Year Community Development Block Grant (CDBG) program as a result of the reimbursement from the Dade County Water b Sewer` Authority for sewer improvements completed in the City of Miami with CDBG funds 11 86-21 1 Honorable Mayor and Members of the City Commission Page 6 $ 13,739 $190009000 10 12th Year CDBG Contingency Account It is therefore recommended that the City Commission adopt the attached resolution authorizing the City Manager to allocate $1,000,000 from the above identified sources as the City's Firam contribution i ce t to the Bayside ide assistance mi noriity rentr preneursg in olocati nog i novthe Bayside Specialty Center. CHO:HJB:ju Attachments • BAYSIDE CENTER LIMITS BAYSL't MINORITY FINANCING PROGUM PA N:IPATtON The minority participation agreement between Bayside Center Limited Partnership, the developer, and the City of Miami requires the developer to seek to identify, lease and bring into operation as many minority merchants as possible, without setting a specific goal. It commits the developer to set aside SOX of the spaces in Bayside for leasing to minorities and to take other steps, including working with local government and private entities to establish a financing program to aid minority entrepreneurs in setting up businesses at Bayside. In considering the Bayside minority financing program, Bayside Center Limited Partnership is prepared to set forward the following resources beyond those cited in Article III of the Minority Participation Agreement: DEVELOPER ALLOWANCE - The developer has committed $4 million in cash to the program. These funds are committed as part of the lease negotiation based on store size and use, merchant resources, expected sales and profitability, etc. The grants are not repayable and can be used for any ligitimate purpose normally recognized as a financeable cost by approved lender, including legal, accounting, design fees; construction; furniture, fixture and equipment; inventory; working capital. For any merchant who would receive assistance from public sources, some developer cash would be committed as well, and in advance of the decision to commit public assistance. To the extent that all of the $4 million in developer resources is not fully committed to the financing program by the time all of the minority merchants at Bayside are open for business, either directly as allowance or indirectly, then a similar proportion of City and County resources would be unused or would be returned to those jurisdictions. However, the latter test would be in the aggregate; the program must be flexible enough to permit different proportions of various public and private resources to be committed on a case -by -case basis to individual merchants whose needs will vary. OFFICE SPACE - The developer has arranged office space, telephone, and furniture to a loan packaging office to be located adjacent to the Rouse -Miami, Inc. offices on the seventh floor of 330 Biscayne Boulevard. STAFFING - The developer has designated personnel from the Rouse - Miami, Inc. office, to work with the loan packaging office described above -- as staffed with City, County, and local business development groups -- to process the minority loan packages through private and public lending institutions. Additionally, developer's staff will work closely with the local SBA to obtain expeditious guarantee review and approval process of such loan packages. 86-216 . M dAYSIDB MINORITY T$NANTS CbMMI The Bayside Minority Tenants Committee was formed in September, 1985 to aid the City and The Rouse Company in the development and execution of Bayside's Minority Tenants Program. During January and February, 1986, meetings were sponsored by the Committee to increase awareness of minority tenant opportunities in Bayside; to help organize a coordinated plan of action among the developer, the City, the County, the Business Assistance Center, acn ind tathenminor�ityitY; and to obtain financing program asewellcas commitments for bank participtio encouraging individual businesspersons to be available as consultants to minority tenants. Currently, The Rouse Company is engaged in an intensive minority tenant screening and selection program and the City , the County, and the BAC are working together in the preparation of financial documentation and business plans for selected tenants. The Bayside Minority Tenants Committee stands ready to supply, on v pro-bono basis, individual business consultants, as required in the opinion of The Rouse Company, to ensure that minority tenants are fully prepared to meet the formidable challenges and opportunities business at Bayside. /ON METROPOLITAN DADS COUNTY, FLORIDA t.w r— METRO•DADE CENTER OFFICE OF COUNTYSITE �MANAGER 111 N.W. tat STREET MIAMI, FLORIDA 33128.1994 (305) 31M311 Mr. Cesar Odio, City Manager RE: Bayside Project City of Miami 3500 Pan American Drive Miami., FL 33133 N Dear Mr. : G�S� This letter is being provided to your office to summarize Metropol itan Dade county's caacd meat to the Bayside project in the areas of financial and technical assistance. On April 20 1985, the Board of County Commissioners approved the projected use of Community Development Block Grant (CDBG) funds for FY85 which included a commitment of $500,000 of funds for financing Bayside minority entrepreneurs. This initial commitment was made with the understanding that an additional $500,000 could be made available through the use of FY86 Community Development Block Grant funds beginning June 1, 1986. it is anticipated that the Board of County Commissioners will approve the staff recommendation on the additional $500,000 ding the mouth of April. Please see attached resolution R-408-85 which approved the first allocation as well as a subsequent memorandum summarizing the County's position with respect to the participation in the Bayside project. In addition to the financial commitments mentioned, Dade County has committed to provide technical assistance and loan packaging at the central one -stop office presently being designed by the Rouse Corporation to provider coordinated and neurs. Dade County centralized technical assistance approach to minority entrap has committed to provide eighty (80) hours weekly of technical assistance ser- vices at the one -stop office during the time necessary to assist the identified minority entrepreneurs get ready for the Bayside opening. Dade County has also committed a significant amount of staff time to date to assist the various committees of the volunteer Bayside Minority Tenants Selection Committee design and operationalize the relevant processes needed to comprehen- sively assist potential minority tenants. ,ihe commitments mentioned above constitute the significant activities to date of Dade County's participation din the Bayside project. c Page -2- I trust the City of Miami is favorably disposed at a minimum to participate in a ccmparsble, if not in a substantially higher marn*r, in the minority tenant process. If you have any Questions, please contact my office. Sincerely, 5 Sergio Pe�2�1 County Manager Attachments w 86 2 i f" MEMORANDUM OAbt COUNTY FORM 107A7.17A TO Honorable Sherman Wimi County Ccxmnissioner Stierheim DATE April 12, 1985 SUBJECT Bayside Project Participation In the spring of 1984, the City of Miami. started to coordinate a seriesbusiness meetings with various and appropriate agencies involved in minority development efforts in order to have the representatives from the agencies become familiar with the Bayside Project, especially as it relates to the magnitude of effort and challenge of the Minority Participation Program which the Rouse Corporation has committed to undertake. As the process stands today, there will be approximately 180 businesses ' - locating in the Bayside Project of which 50% or 90 businesses will be minority tenants from throughout Dade County. in order to initiate the process of developing a pool of funds from which the minority tenants wishing to locate or relocate will have an opportunity to _ obtain financing, the Rose Company has approached the City of Miami, the BusinessBusiness Assistance Center (BAC) and Metropolitan Dade County to to inject into the financing Pool - The Rouse Company will contribute a�thetely s4iness�Assistance CentBAC) toward the pool of funds, and it is my understanding has committed to provide $750,000 towards the pool. The City of Miami and Dade County have been each asked to contribute $1,000,000 to make available loans, interest subsidies and grants .to participating mino- rity businesses. As soon as the Rouse Company has obtained the co®itments from the iCi der to the County, the Rouse Cca�any and will embark on a marketingcampaign ions either on obtain the necessary participation from private lending a set aside basis or regular lending basis to Provide the rest of the financing anticipated to be needed by the minority tenants of Bayside. Based on the Rouse Company's experience in other cities with similar projects, the anticipated financial need of apprmcimately 90 minority tenants is $20,000,000 million since the businesses locating there will have first class features and amenities. The s is that preliminary recommendation to the ion board e haled over a two�year period the rCotmty's cram fitment for the $1 mill P but more importantly that it be subject to the conditions listed below: 86-216 April 12, 1985 Pap -2- 1) Review and approval of the process for outreaching, screening,. selecting and funding minority entrepreneurs wishing to parti- cipate in the Bayside Project. 2). Participation by the City of Miami with no less, but preferably more, than the funds committed to this project by Dade County. 3) Participation by the Business Assistance Center (BAC). -I 4) Participation by the Rouse Company in the $4 capitalization iooitiated of the financing pool in our recent meeting. 5) The development of a participation process which is sensitive to the minority disparity issue which the Commission and my admi- nistration is trying to ameliorate. The proposed funds which will be utilized in making the County's contribution are Community Development Block Grant funds and the funds would be provided over a period of two fiscal years. Funds will be earmarked at this point but no utilization of funds will occur until all the conditions of our participation are met and the financing aspect of the development is initiated. cc: Hon. Members Board.of County Commissioners ,;(;#91A MEMORANDUM Agenda Item No. 2(j) t ct�uAr rorw per er•r. Halorable Mayor and Members DATE April 2 , 1985 commissioners Board of Cots'ttY SUBJECT Proposed 1<inal State<nmt o Canmmity Deve er Objectives and Projected FROM M.R. Stiierrh�eelmUse of Funds County M0• �+Qld'i'lCavae�++� commissioners approve the filing of It is recommended that the Board of County oners t Objectives and Metro-Dade's Proposed Final Statement of Comm nity Projected Use of Funds. The mmen&dStatement is that based ��aed execute Ythe 5 Arnwal Plan. it is also rAcoom� f Dad and all agreements necessary to application for and on behalf of Dade County cam, out programs for Fiscal Year 1985, which begins June 1, 1985. BAQtGROIJrID Proposed Statement of Objectives and Projected Use This is the Cour►ty s FY 1985 Propo ihsral Recovery of Fads which was developed pursuant to the 1983 mousing t. It is regulations of the U.S. Department of Housing and Urban Developmen Act Statement which was previously accepted by the Board based on the CDBG Policy ten to conform with new Federal in February, 19849 and� �� d the C mission for their information regulations and programsAffairs Committee met on March 18, 1985 and in December, 1984. The Cam amity approved the Proposed Statement of Objective and Projected Use of Raids. provided the The Policy Statement framework for developing the FY 1985 Plan and ected Use of Funds. The Amoral the Final Statement of CD Objectives add Projected No. 82-16 (Guidelines Plan and Final Statement conformto Dade County lock meant Funds) . for Administration of Ccammity opt MAJOR ARFAS OF Op iDERATION AMID POLICY ISSUES consideration and some policy issues are: discussed role of the ccmm pity based organizations, CD of the citizen participation process are discussed Some of the major areas of below. Others such as the program are8S# and details is the attached appendix - Beneficiaries • The te -CDBG Program was designed to provide primary assistance to lowc�t and (7�Sxjaof at least seventy-five Perms income Perms • am must berLeO iraure fitsleate income persons. ' and the total income son is defined as a meaober of a family whose income does moderate ink dent of the medial family income for �e county. Based on not 1980 C peY family income for Dade County is $18,718. In the the 1980 Census, the median new r bons, the definition of ,low, moderate income" consistent with to be $Ox of the ��Yto ) Section 8 income lima. which have the Consideration has been given to funding awse projects beccmbin with addIti cnal sources of public or private handing. have been encouraged to leverage funds from other sources in order to dollars. potential Agencies obtain CD Projects in 1htitlwMt Cities , .. receives are based solely on needs outside the ettitleaient cities of Hialeah, The lwDBG funds that Dade County receives and Miemi, Beach. Therefore* very limited funds, have been provided in these cities for projects that have metropolitan significance aid intensive job creation potential. . DEEM This 1985 Statem mt of Objectives is for $18,521 000. This atcnunt includes the $17 , 544 , 000 CDBG Al oaation for FY 1985 and the 077,000 of estimated program e. This is a decrease of approximately $424,000 below the 1984 income. ocati+an, poly doff an increase nationwide is eli- 04e =M&Mities, Requests for FY 1985 CD fiords totaled approo ately 43 miilian. r, . Following is the dellm of recommended atW tnB and paVatitaP Of tyre total grant by activity: Recommended Percent of TotalFNind Ling ands) Al ation 4.50 24.3* Homing4.80 25.9 Ecawmi c Development 2.13 11.5 rrP , x t8 0.4 Coital 0.07 Historic Preservation 13.5 2.37 4 public Services 3.50 20.0 Administration 1.15 6.2 - Contingencies ---- Totals. .......18.52 101.8** . * Amount does not include Public Service,housing capitalis and Economic t the� housing --� Dev�elopmestt activities relatedthese activities . allocation is Y Pe pit including Total percentage does not add up to 100 because percentage for Public based on entitl calculated Service and Administration activities were for other activities was based aunt amount of $17.54 million and percentage am income. $18:52 million, which included estimated prior Monitoring and Audits nave been monitored and or audited some toned Some activities and or audited prior to developing the FY 1985 con the resolution of any recommended for these agencunding ies is contingent upon in the monitoring or audit report• The following existirig issues tee be monitored prior to the development of agencies have b monitored or will the FY 1985 contract: Florida Housing Cooperative Inc. . . Miami Beach CammunitY Development Corporation Miami Dade chamber oDevelopmA met Corporation Opa Assosciation . United B1sck-Merchants The following agencies have been audited or will be audited prior to the development of the FY 1985 contract: ;..,. . iiigber Horizons Project JjEScA Ex -offenders ESCA �lEconomic'Resource Center Development . JESCA, 14orth County Youth Streetworkers Program Miami Dade Trade and Tourim CWIMi . New Century Development Corporationsian . Opa-locks community Development Corporation opa-locks Crime Prevention Program Major Issues We are primarily funding wing Projects. There are a few new Projects proposed for funding. The major new projects include Bayside, the Latin Quarter Redevelopment Plan and the Homestead Downtown Revitalization Project. The Bayside Project has requested from the City of Mimi and Dade Caatty One million dollars afed in the Bayside 11�t.�T Office ofCommtality and Ec Omic Development treprenuers is Proposing to allocate $500,000 each a two Year period to meet the County' s com i tment begi:aning in FY 1985. conditioned ed irmlvement should be subject to City of Miami participation and satisfactory negotiation of a agreement including: minority goals, admdnistrative shn,cture, residency r ts, development schedule, lending criteria, and other significant areas of concern. THE LAM q[ATM pjZEyEL0PNW PLAN: The Latin Quarter g�eveloparent Plan implemented by the Little Havana The Latin Q artirvrity has bbeee�rr► reed for an allocation of $75..000 from DevDade County to match City of Miami. and EDk funds . 2 W7 86w216 Conservation Areas have taken place on an as -needed basis to identify issues Public meetings OCID an in-house analysis of each area of concern to the community. prepared and will coordinate with other agencies to solve neiOwrhood problems. t Existing Target Areas In those comiamities where Target Area classifications and boundaries Participation Process has continued as before. unchanged, the Citizen remain Committees were elected during the Summer of 1984 and heir t�ermwiwill expAdvisire in 1986. Elections were based on CAA's Citizen Participation Plan and Guidelines of 1981. Expanded Target Areas ^ In the six expanded Target Areas , i.e., Opa-locka, West Little River, Homestead and Florida City, an attempt was made to continue to Penitte, Goulds, foster proportional representation from all sectors of the area. Expanded have been and residents of the coamn�ity are - 1 mailing lists produced advisory participating in public meetings. When a vacancy occurs on the citizen 60X representation from board, it will be filled based on a formula requiring 40% from the expanded areas. A formal. planning Process the original area and for these target areas is functioning as it has in the past. New Target Area 4� In the new Target Area of Leisure City, OCID bas been working with the Dade a study and a needs analysis County Pl=-dng Department in developing Planning for the community. The CAA circulated notices to residents is the en an i.ty were taken and new inviting then to attend a public meeting where nominations is formal Target Area citizen Participation members elected to take part a bas been made to adjust the CAA boundaries to be coo- process. Leery attempt with the designated CD boundaries. This makes the overall planning sistent process mar efficient and effective. 11 I o 86-216 'Agr Itgt► No. 2 (3 ) r It 409-85 R�SOWTION N0. _ M • r ••IM TMF111NGOF ► FM SL4TDM OF Caffft= DEVELDPMW • BJTECMES OF M RR FY 1985; Atmmuniq mi axim MANAM TO W CM AIL AMM4WM NEMSSARY TO CM OUr THE.. this Board desires to accomplish the purposes outlined in the accompanying mewrandum+ a copy of which is incorporated herein by reference, NOW, THMEFORE, BE IT RESOLVED BY THE BOARD OF COUNN OCJ.t=T0tM OF DADE COUNPY, FLARIDA, that this Board approve the filing of the Final. Statement of Community. Development Objectives and Projected use of Fiords for FY 1985 with the United States Department �-; of housing and Urban Development for FY 1985 Community Development Block.Grant Funds; and authorizes the County Manager to execute all out the Comumity Development Program in _ agreements necessary carry _ the sw mt of $18,521,000 for fiscal year 1985 (June 1, 1985 - May 31, 1986) following. County Attorney's approval. This aamomt includes the $17,544,000 allocation for FY 1985, and the $977,000 of estimated program income. The foregoing resolution was offered by Commissioner Clam pastArle who moved its adoption. The motion was seconded by Comsd sioner and upon, being put to a vote, the vote was as follows: Aye Barbara M. Carey Aye Clara Oesterle Aye Beverly B. Phillips Aye James F. Redford, Jr. Aye Harvey Ruvin Aye D Schreiber Jorge E. Valdes Aye Aye _ Sherman S. Wim Stephen P. Clark Aye 7he Mayor thereupon declared the resolution duly passed and adopted this 2nd day of April, 1985. DADS OMM. FIRE M 1 BY ITS BOARD OF ax y OQiaSSm1i.S RICHWD P. s mm, amm • `E- qv�.� .� n/ BUSINESS ASSIMME CE)"rRe mom 6600 N.W. 271h Av*nue Mkft PWWO 33147 693.350 .0 ow Wd" WWo Rout4Mdt ,. Cndin�sn londd ! *00, via ChWMn Rena@ t Now & AwoewM d Cenrn«" 11My Raw. TRaMrw as Am-, Nedra a !NI Ma� CeuneR d so. ea. W- , ° �M uonad s-ren ooe� COUM1� FWft senoar Mo -- Cm uam D" NOW 9 ne. KOM Dow" Ke n+Mn A ft(dr M.drr+ �WWat d o "CAU" R am Goods Wo 80mock ComoanY 10— gip, wu,socom Inc. r brehWA pow Co"w"Otcahaft nC. cNapeso via" Gall RMra *+. no" WM j0M L VvA"an - y.00eaan Dow cowry FEB 2 7 1988 February 26, 1986 Mr. Herbert Bailey Assistant City Manager City of Miami overtown-Parkwest Redevelopment Project 100 North Biscayne Blvd. Suite 901 Miami. FL 33132 Dear Mr. Baileys The BAC has gone on record in September of 1984, to set aside $750,000 to be used for loans to Black Dade County Citizens who are successful in obtaining a lease in the Miami Rouse Bayside Project. The BAC has in addition to the use of normal resources, hired a consultant, Mr. Albert L. Chandler, specifically for the purpose of identifying local Blacks who would like to be assisted in going through the Miami Rouse Bayside leasing and funding process* The basic goal of the Business Assistance Center is to assist local Black Dade County citizens who are interested in being successful in private business. our Board views the Miami Rouse Bayside Project as a potentially excellent opportunity to assist us in our objectives-' We stand ready to assist the City of Miami, the County of Dade, private lenders itand relatesRouse Blac�kany in participationachieving their goals in this project. q.. ncerely, N al Dau6Va Executive Director MAR 3 1986 r-, February 21, 1986 Herbert J. Bailey Assistant City Manager City of Miami New World Tower Offices Suite 901 100 N. Biscayne Boulevard Miami, Florida 33132 Re: Special Board Meeting - Bayside Project our Reference No. L 097 /86 Dear Mr. Bailey: Miami Capital Development, Inc. is pleased to oinforassistance outthat tw (2) Loan Analysts/Packagers will be provided Bayside Project, with a third staff employee available, on a temporary basis if needed. Mr. Andrew D. Byer and Mr. Charles C. Dawkins have been advised of their assignment in conjunction with the Rouse Corporation-Bayside Project, for on -site assistance. MCDI is pleased to be able to cooperate in this vital economic development. f Yours truly MIAIgi/JAPI DEVELOPMENT, INC. ngo Perez Deputy Director DP/s CC: E'dra C. Sims Liaison Manager-Bayside FoRd.d by: Miami Capital Development In1 131b Terrace. Wafmi Florida 33132.1621 Tel. (305) 358.1025 J-86-251 t RESOLUTION N0. �x A RESOLUTION ALLOCATING AN ANOUNT NOT TO EXCEED CONTRIBUTION TO THE f' z ;1,000,000 AS THE CITY MINORITY FINANCING PROGRAM TO PROVIDE r<=,. BAYSIDE FINANCSIDE IAL ASSISTANCE TO MINORITY ENTREPRENEURSSPECIALTY _ IN LOCATING WITHIN THE SAID ALLOCATION BEING MADE FROM THE CENTER; FOLLOWING SOURCES: $300,000 FROM THE ITYVIDE CORPORATION (SBIC1 SMALL BUSINESS INVESTMENT LOTH YEAR FUNDS; $100,000 FROM THE CITYWIDE YEAR); TECHNICAL ASSISTANCE TH PROGR10DEYELOPMENT YEAR COMMUNITY }= ;586,261 FRON 11TH BLOCK GRANT FUNDS; AND $13,739 FROM THE 12TH YEAR COB6 CONTINGENCY ACCOUNT. WHEREAS, the City of Miami and the Bayside Center Limited r,.. Partnership entered into an agreement dated January 14, 1985; and i WHEREAS, the City of Miami and the Bayside Center Limited Partnership are committed to ensuring that 50% of the leasing .:; in the Bayside Specialty Project are set aside for spaces ti t minorities; and Xa WHEREAS, the majority of these minority entrepreneurs will >_ need financial and technical assistance in order to locate i n the Bayside Specialty Center; and WHEREAS, the City Commission adopted Motion No. 86-119 at the February 13, 1986 meeting instructing Assistant City Manager Herbert J. Bailey as follows: to gather all the necessary information in connection with the proposed allocation of funds to assist minority entrepreneurs in locating in -the Bayside Specialty Center; ► 86-216 to meet with and bring all the entities together to analyze said information; and to come back to the City Commission with a formal recommendation; and WHEREAS, as a result of these efforts, Bayside Center LfAited Partnership has committed $4 million in cash for the program; the Business Assistance Center has committed $750,000 and Metropolitan Dade County will commit $1,000,000 dependent upon the City's allocation of $1,000,000 for financial and technical assistance to the minority entrepreneurs; and WHEREAS, the Bayside Minority Tenants Committee is committed to provide individual business consultants to assist the minority entrepreneurs on a pro bono basis and Miami Capital Development Inc. will provide two loan analysts/packagers to work in the loan packaging office; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. An amount not to exceed One Million Dollars ($1,000,000) is hereby allocated as the City Is matching fund for the Bayside Minority Financing Program to provide financial and technical assistance to minority entrepreneurs in locating in the Bayside Specialty Center. Section 2. Said funding allocation is to be made from the following sources: $300s000 Citywide Small Business Investment Corporation (SSIC) - 10th Year $1000000 Citywide Technical Assistance Program (loth Year) funds previously allocated to Miami Capital Development Inc. to provide technical assistance to loan recipients $586,261 Program income received during the 11th year Community Development Block Grant (CDBG) program as a result of the reimbursement from the Dade County Water & Sewer Authority for sewer improvements completed in the City of Miami with CDBG funds $13,739 12th Year CDBG Contingency Account. PASSED AND ADOPTED this day of I 1986. —1-3-97 er L . uarez Mayor ATTEST: a y ra y clerk PREPARED AND APPROVED BY: e er ark,THI-e-T Deputy City Attor APPROVED pITO FORM AND CORRECTNESS: oug r y, y orney