HomeMy WebLinkAboutR-84-0866J-84-519
7/20/84
rr/D7
RESOLUTION NO. 84-866
A RESOLUTION A11TH0R17ING THE CITY MANAGER TO
TRANSFER FUNDS TO
I"IT1111T CAPITAL DI_VELOPMENT,
INC. (MCDI) IN IIH
Ai MINT OF TO BE
RECEIVED F(,Ot4 DAM
COUNTY Ct)N1 IhI(ENT HPON THE
RELFASF ITY I I I 1 121E
TRIII'OL T IA 71 1)A1)1 COUNTY
COMMT S`.i ION OF-
511fIII AP1013N T ; FUR THER,
AUTHOR 171NI; THf_ I'T I i;ARIAGCR TO [_�I:CI)TF AN
AGRIFMENT, I:N A F(1Rt1
AC CEPFi",I31.E 11) THE CITY
ATTORNEY, AM(=LADING
MCDT'S RI_VOLVING LOAN FUND
AND ADM INI51RAIIVE
C1)NTRACT TO PROVIDE FOR AN
INCREASI-_ IN MCDT
AMIINISII?AIIVE EIUDGEI BY
THE: AMOUNT OF $56,
ZO/t FOR THE MANAGEMENT OF
MCDI 'S LOAN PORT FOLI0.
WHEREAS, Metropolitan Dade County has entered into an
agreement with the United Stater of America for a grant for the
execution and impl0mentatitin of a Community Development Program
in certain areas of Dude COUnt.y, pursUanL to 1itic I of the
Housing and Community Development Act of 1974, as amended; and
WHEREAS, the aforementioned grant provides for the implemen-
tation of economic development activities during the ninth year
of the program; and
WHEREAS, in administering and managing a Federal Economic
Development Administration $4.6 million Revolving Loan Fund (RLF)
Program, Miami Capital Development, Inc. (MCDI) was required to
provide commercial loans to Dade County (out of the City of Miami
limits) bUSinesseB; and
WHEREAS, Metropolitan Dade County recognizes that as a
result of tl('01 having provided loans to Dade County businesses,
MCDI has exller1SL�,3 in servicing these Loans; and
WHEREAS, He,t repo 1 it o i i Dade C()uiity, in a letter dated
December 19, 196 3 indicated it:s intention to provide MCDI with
funds in 1-11 ttiount. of $56,204 for MCDI's administrative
expenses; and
WHEREAS$ the Dade County agreement requires that the City of
Miami contract. with MCDI for it (MCDI) to use funds in the amount
of $56,204 to carry out the work program that is reflected in
Exhibit A of the contract; and
CITY Colin
JUL 11A 11`5�
hEiJ,tit:
WHEREAS, the City of Miami desires to implement the afore-
mentioned act ivi-ties during the ninth year of the Community
Development pi-ngrem, ayinq MC€?I. as the implementing agency;
NOk^`, Tti( REFORF�, 13E IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAHT, € I ORTI)A:
SeCI-in1)
l.,
The City Manager
is hereby
Rut hori;.ed
to
transfer
funds
received from Dade
County in
thF� 'rnoIInt
of
$56,2014, cnnt:ingent upon such funds tieing grantr,d i)v (hr Metro--
poIitan Dade County Commission, to t1i-anli.i)evoprnent,
Inc.
Section 2. The City Manager i:--, herchy '!'lhnFizcd to
execute an agreement, in a form accept, laTc to ttie City AI- torney,
amending 11CDI's $120,000 admi.nistrati.nil and 1,30O,(100 Revolving
Loan Fund contract to increase t, D I ' ^ ndm i n i_st i at. ive budget by
the amount of $56,204 for the of HCDI's Inan port-
folio.
PASSED AND ADOPTED this 31st day of July , I984.
ATTEST:
C ty Clerk
PREPARCO AND APPROVED BY:
Deputy C.i ty At t c.}rncy
APPROVLI) A5 Ili l OR,!' AND CORRECTNESS:
it.y Attorney
Maurice A. Ferre
Mayor
84-866
ra
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
Howard V. Gary May 30, 1984
TO OATF: FILE:
City Manager
Amendment to the Con—
SU BJFGT:
tract with Miami
Capital Development,
Charlotte Gal1 ogly a��Fs,er�css Marrka�8 ,1t1 9£?4ed can
Di rector
Department of Economic Development T 7
.l. cNCL.p„r,�l UP 30t-h Commission Agenda
"It is recommended that the City
`=
Commission approve the attached
resolution authorizing the City
_
Manager t0 tran7,fe:r° funds to
Miami Ci (gal P opmcrat. Inc.
(MCDI) irf ]IC raa1!11 of
S 2
Dade Ccon-,-c ;: ,a crt t;pon the
-=
a p P „ 11;_ .; opol .tan
jai
Dane C i i u .1 11 o such
funds, u <<, _, i! „1t;- `I.: i r;�i 11-1he
C i t. y
a 1Y} C A) tiJli ii ". I i i Lt i �: �, i 'i,: :;} !{ t h 0
_
f o rm a l'ic o I s
`
S1,,a0p n:� t'� ;°: �)1 Vi,.qfund
1
and o 1-5 Ve
admi ni st. :_i Fu ;.;udgC—t by the
_
amount of 1$56,204 for the
management of 11C01 s loan
portfolio."
—i At the March 8, 1984 City Commission meeting, approval was granted
for the City to provi de Miami Capital Development, Inc. (MCDI)
#' with $120,000 in administrative funds and $1.3 million to implement
a Revolving loan fund.
Since MC01. utili es a portion of its administrative budget to
service l oans that Have been pr ovi dr=d to Dade County ( out of the
City of ,�iami limits) businesses, f-roin a S4.8 i.iIIion EDAjRIF
Grant, the City of ?liani Depar~tr;ierat of Economic Jevclapmr r7 I (DED)
_ requ est4red f rorli "le tropol i tea n Da ec u ou my that it too provide funds
to MCDI for i is expenses. I t s:inul d notedthat last year PiCDI was
allocated $91,934 in administrative funds from the County.
C
,v,
x
Howard V. Gary
Page #2
On December 19, 19n3,
as per the attached letter and budget, the
Development
onrovideic D
Dade County Office of
d
fundsill
Community and to MCDI
only be abl e P t11e
the DED that i t ,qou1
5r,?04
�n,es for
for its administrative expo
the amoian� of
cu rren l: f sc[� yc`a r.
funds
This ro.sc?iu;on a,, t.hori-_es
the City �ianagcr to ��ransfer� i•ilcs^
to tjCDI I s current admi nistrati ve
Lo ,.;CDT ,Y executi fig an
amendment
Conti ngi Ai as said
tamenrdme�nt ri d«CDI's
and ?L_E frog1rapj contract,
the County. In
s s ncreasc
effect, this
$176,204 for the current
from
admi ni str�ative budget
from $120,000 to
fiscal year.
CG/es
Attachments
M#--::._ -+lt ,.
W
W
METROPOLMN DARE COUNTY, FLORIDA
METP0.,=DADF_',-
Deceiriber 19, 1983
Ms. Cha.clotte Callogly, Director
Departmr_mt of Fccnarcmic Development
Olympia
174 E�tczkl_ Flaglel� S',Xcr,_t, 7t1i Floor
11i.-ri-T T-L 333131
Dear
OFFICE OF THE COUNTY VANAGER
COMMUNITY AND ECONOMIC DEVELOPMENT
90 S.W, 8TH STREET
SUITE 101*4
MIAMI, FLORIDA 331�_)
(305)579-2553
Our off-icc i m cum7-A.rted the review of your request for ac'mmiistrative support
for ni, A C,-1pi'D7!1 Pao elop me-nt, Tnc.
Ra-sp-61. 07.1 0j11c 3-1U1,-*-,)0-r of loons of 1,aami Capital's loan portfol-io
that .).rc To'c.;-'t-rAo lucid! Co mtyt it is 0 t1lin �ma tha
_1 2 1- ux _I t one
(1) fJ-r3l'0213_-��!, �uU Gil- , -) -ccretaxy •w,3_11 adcTiately eddzess tf-z;2 teclkmi-
C,
As you are ilic 1_,1,-,.-G oll" Ccumlissifmner apprc-"i,ed in allocatim of
1-11, , I
$41,000 ft-i- TT-,pCn1-11_1 to capl-t-a ealv this year. The level
50, 000 (Sce, aLtacl-1,1d) faC cm—re-ar- fiscal yew and
of fund .U-1 3, Q. ,,, ("k
In on, I
velc-Ti- it o:F cur contract, you shmad have
J 3 ol r o-Iffice i.,TLth a x-7ork progrm md a fi
nal
(,ct�
r.* -11
Lat m-a rini ut C,- �,_ c."icc Placiad C-aa MLmd, Capital Davclo=-
Inc. ':ica i0 6 zin Cl: kr(An M-2,de c'mt- 71-.e ccra-
ditims that- M'Uami Capftz_! 1-till nn!,,-c in Co-unty areals f-rcm the payback
Of C 'z-;. 1IS Z,e devolcl_') la vrith IUzmi Capital Develo�=_-nt,
Inc. , t1ris irpli-cit agreeTn-nt Could Perlm-ps La Lico=porated in the haurguage of
the lmrk progrzm.
If you have my op.1—estioras, please let m knc,.x.
S, CerCly,
Ernest M'artin
Director
Attachment
cc: Claud Anderson
9
NIP,
PROPOSED USE OF DADS COUNTY GRANT FUNDS M 14CDI
BMCU FOR FYE 84
r IAC T 001 SAT-1mr-i/W -ES
t/Fin(2) aedi racial Analyst to
be hired ar- $2-3,000 and $19,000
(1) Secretary to hired at $14,000
100 FICA TAXES
130 GROU, 'ICE
150 MTENSATION
160 C,,-�,,TENSATION
OMATT-IN'G EXTENSES
270 IMAL --
2 8 0 AC C 0 TM= G
533 POSTNrE,
620 M71 - SPACE
Office Space to acco=ciate new employees,
conference root and storage area at $16.00
per square fcor—
Xerox su,:DplieS,
General Officc: Supplies - Staples
p=15, Plaper, Txncil-s, c-alculators, etc.
510 ICNS SERVICES
=--AL OH—ItMING IDMISES:
TOM BUDGET
ff�LUE=
$56,000
4vOOO
$ 4,500
$ 540
$ 460
$ 27000
$ 2,500
$ 500
$16,000
$ 11500
$ 3,000
W5,5OU
$91,000
REMMMED
$37,000
�7' 000
$ 2,727
$ 3,000
$ 360
$ 307
$ 2,000
$ 2,500
$ '500
$4,800
$ 1,000
$ 2,010
-5 1 =1
$56,204
a
f
AMENDMENT .
An Amendment to a contract agreement dated April 25, 1984, between
the City of Miami, hereinafter referred to as the "CITY" and MIA141
CAPITAL DEVELOPMENT, INC. (MiCD1), hereinafter referred to as the
"CONTRACTOR."
WHEREAS, on March 8, 1984, the City Commission passed Resolution
No. 84-291, approving a contract with MCDI for $120,000 in
administrative Funds and $1,300,000 for the establishment of a
Revol ving Loan Fund; and
WHEREAS, in administering and managing a Federal Economic
Development Administration $4.3 million Revolving Loan Fund (RLF)
Program, MCDI was regLlired to provide commercial loans to Dade County
(out of the City of Miami limits) businesses; and
WHEREAS, Metropolitan Dade County recognizes that as a result of
MCDI having provided loans to Dade County businesses it incurs
expenses in servicing these loans; and
WHEREAS, Metropolitan Dade County, in -a letter dated December
19, 1983, indicated its intention to provide 11CDI with funds in the
amount of $56,204 for MCDI's administrative expenses; and
WHEREAS, the City of Miami desires to implement the
=i aforementioned activities during the ninth year of the Community
-3
" Development program; and
WHEREAS, the contract agreement states in Article 2.3 specific
obligations of the Contractor; and
WHEREAS, the contract agreement states in Article 2.3 that the
City will "...provide funds not to exceed $120,000 for the
administration of said fund as well as any and all fronds previously
or subsequently received by V1CDI from the $1,300,000 RLF and S960,000
HUD RLF; and
8
WHEREAS, the contract agreement states in Article 4.2 (2) that
the City will "reimburse Contractor for specific line -item
administrative costs, i ncr.►rred in its 1983/1.984 budget from July 1,
1983 to June 30, 1984 which will not exceed i120,000.00"; and
WHEREAS, the contract agreement states in Article 4.8 that "The
Contractor agrees to submit to the City such reports as may be
z required by "--hp Secretary of tine Treasury and/car the Secretary of
Labor and/or 0epartment:s of Community and Economic Development, along
with reports to the City on the . . . " ; and
'.WHEREAS, the contract agreement states in Article 7.1(2) that
"The total compensation for this contract shall not exceed
$120,000.00 for Contractor's 1983-84 budget."
THEREFORE, in mutual consideration of the convenants made herein,
and in the agreement of which this is an Amendment, the parties
hereto understand and agree as follows:
1) Article 2.2 shall be amended by adding the statement "The
Contractor further agrees to abide by all the provisions of
the $56,204 contract between Metropolitan Dade County and
the City of Miami which is attached hereto and made part of
this contract as Attachment I."
2) Article 2.3 shall read that the City will "...provide funds
not to exceed $176,204 for the administration of said funds
as wel l as any and al l funds previously or subsequCn -ly
received by MCD1 from the Ic1,:.300 000 i�U- and w960,000 H11D
RLF and cErrta i n other ::l.F- s . I itr' Curr=;, - et.t;.ir• ft.artc-r
unders-1.ards t}rat ::56,204 tits _ /C 3lv It IJn cutai ni'sILrat vrr
funds is contingent up,,,,r the City abtaining said funds frori
Mletropol i tan Dade County. In the Event that these funds or
any others become unavailable, Section 8.1 of this agreement
shall be the determining factor.
`w" 6
I,
3) Article 4.2(2) shall read that the City will "reimburse
Contractor for specific line -item administrative costs,
incurred in its 1983/1984 budget from July 1, 1983 to June
30, 1984 which will not exceed $176,204.00."
4) Article 4.8 shall reed that "The Contractor agrees to submit
to the City such reports as may be required by the Secretary
of the Trcasury and/or the Secretary oili..a')or n-l/or t:h
City of Mis,ni'> Department:_ of Cornmtini y and Fr,onomic
Development anti titre Nci,tropoIi tan D a d c County Office of
Communi ty and Fconomi c Dcve1 opioent, al onq wai th reports to
the City on t::h(, 14ork program and. . .
5) Article 7.1((2) shall read that "The total compensation for
this contract shall not exceed $176,204.00 for Contractor's
1983-84 budget."
It is further understood that all the terms and conditions
outlined under the original agreement and all subsequent
amendments thereto will remain in full force and effect without
modification.
IN WITNESS WHEREOF, the parties hereto have caused this
instrument to be executed by the respective officials thereunto
duly authorized.
1
WITNESS our hands and seal on this day of
1984.
City of Miami, a municipal
corporation of the State of
Florida:
ATTEST:
BY
RALPH G. ONGIE9 CITY CLERK
HOWAKU
V.
•
ATTEST:
APPROVED AS TO FORM AND CORRECTNESS:
MIAMI CAPITAL DEVELOPMENT, INC.
(CORPORATE SEAL)