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CITY OF MIA MI, FLORIDA 94-,
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INTER -OFFICE MEMORANDUM -
TO. Honorable Mayor and DATE: February 6, 1986 FILE,
Members of the City Commission
SUBJECT Allocation of Funds for
Bayside Specialty Center
Retail Project
FROM REFERENCES:
Cesark.00006� For Discussion Purposes
M City Manager ENCLOSURES. Only - Feb. 13th Commis-
sion Agenda
On April 2, 1985, Metropolitan Dade County passed Resolution No.
R-408-85, allocating five hundred thousand dollars ($500,000) to
assist minority entrepreneurs in locating in the Bayside Specialty
Center. These funds were appropriated in Metro Dade County's
Eleventh (llth) Year Community Development Block Grant Fund Program.
In addition, Metro Dade County is also proposing to appropriate an
additional. $500,000 in its Twelfth Year Community Development Block
Grant Program Fund for this project. This commitment by Dade County
is dependent upon the City of Miami also allocating one million
dollars ($1,000,000) for Bayside Project.
If Bayside Project is to be one of the City's priority projects, and
the Commission approves the aforementioned matching allocation, staff
recommends that these funds be appropriated from Twelfth (12th) Year
Community Development Block Grant Fund.
As you are aware, these funds will become available on June 16, 1986,
and it is anticipated that these funds will be reduced by thirty-two
(32) percent. Also, the citizen participation process for project
selection is just commencing, but if the Commission decides that this
is the top priority of the City, staff would inform the Community
Development Advisory Board of your action.
If the Commission approves such allocation, we would come back at a
later date with guidelines for the use of these funds, outlining the
financial and technical assistance that will be provided to those
minority entrepreneurs locating in the Bayside Specialty Center.
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