HomeMy WebLinkAboutItem #05 - First Reading Ordinance�1
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J84-617
8/2/84
ORDINANCE NO.
AN ORDINANCE AUTHORIZING THE ISSUANCE,
SUBJECT TO T1JF ELECTION HEREIN PROVIDED, OF
$40,000,000 AND REDEVELOPMENT BONDS
FOR COMMONT 11 tIENT iF.PAtJD/OR
REVITA1J7AJ0T1 'RO TE(I:T S I1' THE CITY 01' V3 TAMI,
FOR T11F P U13'110:SF OF PA �77.I'G T I I E' COST, IN
CERTATN ARE.AS OF THE CITY, OF LAND
ACQUISITION, R T.T}F.II.tTt1[, AIID L,U-TNESS
RELOCATION, 1)EH01_,1 T 1014, ST.TE. AND
INFRASTRUCTURE IMP ROVI MENTS, CONSTRUCTTON AND
MODERNTZATION OF PUBLIC FACILITIES, FINANCIAL
ASSISTANCE FOR THE CONSTRUCTION OF LOW AND
MODERATE INICOME HOUSING. ECONOMIC
DEVELOPMENT, HISTORIC PRESERVATION, AND THE
CONSTRUCTION OF R1 PLACEM1'.NT HOUSING FOR THE
RESIDENTIALLY D.T.SPI..ACED, AND PROVIDING FOR
THE LEVY AND COLI.,ECTI:ON OF AD VALOREM TAXES
TO PAY SUCH BONDS.
BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1: For the purpose of paying with any other
available funds, the cost of development of housing for low and
moderate income families and overall community Adevelopment
for
N
areas which may be designated by the City Commis n as areas for
community redevelopment and/or rAe,
.li tion `ased on the
`i
existence of conditions of physib i ht, a 0/or economic
decline within the City/o Mia einafter referred to as
"CITY", which include Ochfar ae Southeast Overtown/Park
West Community Redevel
Little Havana (Community
Development Target Area)�y4,nd-7Liberty City (Model City Community
d
Development erget A ea); including activities properly
appurtenant t� etch, the acquisition of land for the construction
* d ---
of low ap derate income housing, commercial and public
'liti s to demolition of blighted structures, the relocation
o r s
id nts and businesses displaced by public acquisition, the
construction of site and infrastructure improvements, the
nization of public facilities, the provision of financial
assistance for the construction of low and moderate income
housing, the preservation of structures of historic and
architectural significance, economic development and the
construction of replacement housing for residential displacees,
there shall be issued, under the authority of the Constitution