HomeMy WebLinkAboutR-83-04231
J-83-270
rr
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO EXECUTE AN AGREEMENT, IN SUBSTANTIALLY
THE FORM ATTACHED, WITH MIAMI CAPITAL
DEVELOPMENT, INC. (MCDI) FOR THE USE OF
$350,226.55 IN U.S. DEPARTMENT OF HOUSING
AND URBAN DEVELOPMENT (HUD) FUNDS FOR THE
HUD DISCRETIONARY LOAN PROGRAM.
WHEREAS, during the City's audit of Miami Capital
Development, Inc. (MCDI), it was noted that the Corporation's
drawdowns were in violation of the U.S. Treasury Department's
three-day rule; and
WHEREAS, on January 7, 1983, the City returned to the
U.S. Department of Housing and Urban Development (HUD) a
check in the amount of $423,496.47 to cover the $350,226.55
in improperly drawdown funds, plus $73,269.92 in interest
income, generated by the deposit of these funds; and
WHEREAS, on February 3, 1983, the City received
notification from HUD that the $350,226.55 that the City had
returned to HUD had now been credited to the City's Letter of
Credit; and
WHEREAS, this notification by HUD permits the City of
Miami to draw down the funds for the HUD Discretionary Loan
Program; and
WHEREAS, the City's Department of Economic Development
has recently developed new procedures to allow for improved
financial and programmatic monitoring of MCDI which will
prevent a recurrence of the grant drawdown problems; and
WHEREAS, in order for MCDI to begin drawing down these
funds for business loan purposes, it will be necessary for
the City and MCDI to enter into an agreement;
NOW, THEREFORE., BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
9) a
Section 1. The City Manager is hereby authorized to
execute an agreement, in substantially the form attached,
with Miami Capital Development, Inc. (MCDI) for the use of
$350,226.55 in U.S. Department of Housing and Urban
Development (HUD) funds for the HUD Discretionary Loan
Program.
PASSED AND ADOPTED this 12th day of May , 1983.
ATTEST:
RA PH G. ONGIE, CITY C RK
PREPARED AND APPROVED BY:
ROBERT F. CLARK
DEPUTY CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
/JOSE R. GARCIA-PEDROSA
/;CITY ATTORNEY
V.
-2-
Maurice A. Ferre
MAURICE A. FERRE
M A Y O R
1
CITY OF MIA*.!,. FLORIDA
INTEROFFICE MEMORANDUM
Howard V. Gary "IF April 27, 1983 V1LE
City Manager
- Contract Agreement with Miami
Capital Development, Inc. For
<<_C The Use Of $350,226.55 In HUD
_ Charlotte Gallogly }�� .� �� Funds
Director
Department of Economic May 12th Commission Meeting
Development _
"It is recommended that the City Com-
mission approved the attached resolution
authorizing the City Manager to enter
into a contract agreement with Miami
Capital Development, Inc. (MCDI) for
the use of $350,226.55 in HUD funds to
implement the HUD Discretionary Loan
Program."
During the City's audit of Miami Capital Development, Inc. (MCDI),
it was noted that the Corporation's drawdowns were in violation
of the Treasury Department's three-day rule. On January 7, 1983,
the City returned to the U.S. Housing and Urban Development (HUD)
a check in the amount of $423,496.47 to cover the $350,226.55 in
improperly drawn down funds, plus $73,269.92 in interest income
generated by the deposit of these funds.
On February 3, 1983, the City received notification from the U.S.
Department of Housing and Urban Development (HUD) that the
$350,226.55 that the City had returned to HUD had now been credited
to the City's Letter of Credit. This notification by HUD permits
the City of Miami to drawdown the funds for the HUD Discretionary
Loan Program.
In order for the City and Miami Capital Development, Inc. to begin
drawing down these funds for business 'loan purposes, it will be
necessary for the City and MCDI to enter into a contractual agree-
ment.
It is therefore recommended that the City Commission adopt the
attached resolution which would allow the City to enter into a
contract agreement with Miami Capital Development, Inc. to imple-
ment the HUD Discretionary Loan Program.
CG/ju
Attachments
if
CITY OF MIAMI
ECONOMIC DEVELOPMENT CONTRACT TO
IMPLEDIENT THE U.S. HUD DISCRETIONARY BUSINESS LOAN PROC-W-1
3-.4,1
'r A03
to
TABLE OF CONTENTS
ARTICLE I
1.1 Contract Provisions . . . . . . . . . . . . . . . . . . . 1
ARTICLE II
General Obligations
2.1 City Authorization . . . . . . . . . . . . . . . . . . . 2
2.2 Obligation of Contractor . . . . . . . . . . . . . . . . 2
2.3 Contract Modification . . . . . . . . . . . . . . . . . . 2
2.4 Non-Delegability . . . . . . . . . . . . . . . . . . . . 2
2.5 Construction of Agreement . . . . . . . . . . . . . . . . 2
2.6 Successors and Assigns . . . . . . . . . . . . . . . . . 3
ARTICLE III
3.1 Loan Production Schedule . . . . . . . . . . . . . . . . 3
ARTICLE IV
Conditions of Payment
4.1 Method of Payment . . . . . . . . . . . . . . . . . . 3
4.2 Financial Accountability . . . . . . . . . . . . . . . . 3
4.3 Retention of Records . . . . . . . . . . . . . . . . . . 3
4.4 Bonding and Insurance . . . . . . . . . . . . . . . . . . 3
4.5 Conditions on Which Payment is Contingent. . . . . . . . 4
4.6 Reports and Evaluations . . . . . . . . . . . . . . . . . 4
TDTT/'T D IT
General Conditions
5.1
Project Publicity . . . . . . . . . . . . . . . . . . . . 4
5.2
Equal Opportunity . . . . . . . . . . . . . . . . . . . . 4
5.3
Conflict of Interest . . . . . . . . . . . . . . . . . . 5
5.4
Indemnification . . . . . . . . . . . . . . . . . . . . . 5
5.5
Level of Service . . . . . . . . . . . . . . . . . . . . 5
5.6
Disclosure of Funds . . . . . . . . . . . . . . . . . . . 5
5.7
Use of Income Derived from Contract. . . . . . . . . . . 5
5.8
Final Expenditure Report . . . . . . . . . . . . . . . . 6
5.9
Admendments . . . . . . . . . . . . . . . . . . . . . . . 6
5.10
Audit Rights . . . . . . . . . . . . . . . . . . . . . . 6
ARTICLE VI
6.1 General Assurances and Certifications. . . . . . . . . . 6
ARTICLE VII
Compensation Method
7.1 Maximum Compensation . . . . . . . . . . . . . . . . . . 7
7.2 Time of Performance . . . . . . . . . . . . . . . . . . 7
7.3 Title to Assets and Final- Disposition. . . . . . . . . . 7
ARTICLE VIII
Assurances and Certifications
8.1 Opportunities for Small and Minority Business. . . . . . 8
8.2 Citizen Participation . . . . . . . . . . . . . 8
8.3 Anti -Kickback Provision . . . . . . . . . . . . . . . . . 8
ARTICLE IX
9.1 Termination Clause . . . . . . . . . . . . . . . . . . . 8
hnM1rr,,r" V
10.1 Signatories . . . . . . . . . . . . . . . . . . . . . . . 9
")
i� tAw
E
to
CITY OF MIAMI, FLORIDA
ECONOMIC DEVELOPMENT CONTRACT
1
THIS AGREEMENT, entered into by and between the City of Miami, a polit-
ical subdivision of the State of Florida, hereinafter referred to as
the "City", and Miami Capital Development Inc., hereinafter referred
to as "Contractor", a corporate body fully organized and
existing and by virtue of the laws of the State of Florida as a non-
profit corporation, having its principal office at 100 N. Biscayne
Boulevard, 9th Floor, Miami, Florida 33132, this day of
1983, for the period beginning April 18,1983, and ending October 14,
1984.
Vendor No. Funding Source: U.S. Department of
Housing and Urban
Development
(HUD Discretionary
Grant)
In consideration of the covenants and agreements hereinafter set
forth, the parties hereto agree:
ARTICLE I
As a necessary part of this Agreement, the Contractor agrees to provide
the City with the following standard requirements.
1.1 CONTRACT PROVISIONS
1. Contractor's Corporate Seal (to be affixed to Signatory
Page) .
2. Copy of Contractor's Charter, Articles of Incorporation and
By-laws.
3. List of Present Principal Governing Board Officers and Members
of the Board (names, addresses and telephone numbers).
4. List of Key Staff Persons, with their titles, who will carry
out this program.
5. Job Descriptions & Resumes for all positions involved with
this Contract.
6. Copy of Personnel Policies.
7. Copy of Contractor's Current Fidelity Bond (applicable for
all persons who are authorized to receive and disburse funds
under this contract).
8. Proof of Worker's Compensation Insurance.
9. Completion of Authorized Representative Statement (on form
supplied by the City).
10. Completion of Statement of Accounting System (on form
supplied by the City).
11. CPA letter verifying the Contractor's Accounting System
as containing internal controls which are adequate to
safeguard the organization's assets.
P
12. Completion of Contractor's Total Actual and Projected
Funds Disclosure (on form supplied by the City).
13. Completion of Staff Salaries Schedule (on form supplied
by the City).
14. Loan Production Schedule (approved by the City).
15 , Final Expenditures Report (to be submitt-,d to the City on
an approved form no later than 30 clays after the expira-
tion of this Agreement).
16. Certified Independent Audit (to be submitted to the City
no later than 120 days after the expiration of this
Agreement).
ARTICLE II
GENERAL OBLIGATIONS
2.1 CITY AUTHORIZATION
For the purpose of this contract
Economic Development will act an
cal, programmatic monitoring and
2.2 OBLIGATION OF CONTRACTOR
the City of Miami Department of
behalf of the City in the fis-
control of this contract.
The Contractor agrees and understands that this Agreement should be
completely executp(i within sixty (60) days of aQvropriatinn.
Failure to comply gives the City the right to withdraw and re -
appropriate funds. The Contractor agrees to carry out the project
as prescribed in its attached Doan Production Schedule in a law-
ful, satisfactory, and proper manner, in accordance with the
written policies and procedures, and requirements as prescribed
in this Agreement, as set forth by the United States Secretary
of Treasury, and the City of Miami Departments of Community
Development and Economic Development, and all other state and
local laws. The Contractor shall not perform in a way in-
consistent with the terms of the Loan Production Schedule except
as authorized in writing by the City's Department of Economic Develol
ment and approved by the Commission. Such authorization by the Cite
shall be subiect to and in accordance with prescribed guidelines.
2.3 CONTRACT MODIFICATION
The City or Contractor may, from time to time, request changes
in the scope of the services to be performed hereunder. Such
changes, including an increase or decrease in the amount of
Contractor compensation, which are mutually agreed upon by and
between the City and the Contractor, must be incorporated in
written amendments to this Agreement, followi-g approval there-
of by the City Commission.
2.4 NON-DELEGABILITY
It is understood and agreed that the obligations undertaken by
the Contractor pursuant to this Agreement shall not be delegated
to any other person or firm unless the City shall first consent
in writing to the performance of such services or any part there-
of by another person or firm.
2.5 CONSTRUCTION OF AGREEMENT
The parties hereto aq r.ee that this Agreement shall be construed
and enforced according to the laws, statutes and case laws of
the State of Florida.
- 2 -
2.6 SUCCESSORS AND mJSTGNS
This Agreement shall be binding upon the parties herein, their
heirs, executors, legal representatives, successors, and assigns.
ARTICLE III
3.1 LOAN PRODUCTION SCHEDULE
A description of the Contractor's Loan Production Schedule is
attached (Attachment A) and hereby incorporated and made part
of this Agreement.
ARTICLE IV
CONDITIONS OF PAYMENT
4.1 METHOD OF PAYMENT
Contractor agrees to drawdown loan funds when there is a scheduled
loan closing. Requests for drawdowns should be submitted three
(3) days before the scheduled date of loan closings in order to
assure that the funds are available. If for any reason the loan
closing does not occur, the Contractor must provide the City with
a check for the exact amount of the advanced drawdown within 24
hours less all out-of-pocket costs for verifiable expenses incur-
red in processing the loan application i.e. legal fees and credit
investigations. it is mandatory that the City attend all loan
closings and should receive proper prior notification of all loan
closings.
4.2 FINANCIAL ACCOUNTABILITY
At any time or times prior to final payment under this Agreer.ent,
the City may have the Contractor's financial records audited.
Each payment theretofore made shall be subject to reduction
for amounts included in the related drawdown which are found by
the City, on the basis of such audit, not to contitute allowable
cost. Any payment may be reduced for payments, or increased
for underpayments, on preceding drawdowns.
4.3 RETENTION OF RECORDS
The Contractor agrees to retain all financial records, supporting
documents, statistical records, and all other records, pertinent
to this Agreement, for a period of throe (3) years. The retention
period starts from the date of the submission of the final ex-
penditure report. Records for non -expendable property acquired
with funds underthe7,dreement, shall be retained for a period of
three (3)years after its final disposition. Said records shall
be retained beyond the three (3) years period if the audit
findings have not been resolved.
4.4 BONDING AND INSURANCE
The Contractor shall maintain during the term of this ligree-ent,
the insurance and bonds specified below:
a) Insurance coverages should reflect sound business practices
as determined by the Risk Management Division of the City
of Miami.
b) Prior to the disbursement of funds to the Contractor, the
City shall receive assurance that all persons handling
funds received or disbursed under this Agreement are covered
by Fidelity Insurance in an amount consistent with sound
fiscal practice.
c) The Contractor shall furnish certificates of insurance and
bonding to the City prior to commencing any activity under
the Agreement. Said certificates shall clearly indicate the
Contractor is in strict compliance with provision of this
Article.
- 3 -
t,3--4'2,3
1
4.5 CONDITIONS ON WHICH PAYYXNT IS CONTINGENT
The Contractor warrants that no person or selling contractor,
or other organization has been employed or retained to solicit
or secure this Agreement upon an agreement or understanding
for a commission, percentage, brokerage or contingent fee.
For breach or violation of this warrant, the City shall have
the right to annul this Contract without liability or, in its
discretion, to deduct from the contract, or otherwise recover
the full amount of such commission, percentage, brokerage or
contingent fee, or to seek such other remedies as legally may
be available.
4.6 REPORTS AND EVALUATIONS
The City shall cooperate with the Contractor in the conduct
of activities delegated under this Agreement as reasonably
requested. The Contractor agrees to submit to the City
such reports as may be required by the Secretary of the
Treasury and/or the Secretary of Labor and/or Departments
of Community Development and Economic Development, along
with monthly reports to the City comparing loans approved,
closed and disbursed to the planned Loan Production Schedule.
The Contractor also agrees to prepare, retain and permit the
City to inspect as it deems necessary for grant purposes,
records that may be relevant to Federal, State or local
directives.
Contractor will transmit to the City, in writing, a program
evaluation report to be completed prior to the end of the
contract term covering all project activities. The format
of this report will be determined by the City.
At the request of the City, Contractor will transmit to the
City written statements of Contractor's official policy on
specified issues relating to Contractor's activities.
The Contractor further agrees that the City may carry out
monitoring and evaluation activities to include at a minimum,
visits and observations b,. the City staff and will e fectirely
ensure the cooperation of the Contractor's employees a.id board
members in such efforts. All reports and evaluations either
submitted to the City on a monthly basis, or acquired through
on -going monitoring and evaluation will be thoroughly reviewed
by the City. Any discrepancies, incomplete, or inadequate
information either received on a monthly basis or through
monitoring and evaluation, will give the City just and legal
cause to terminate this Agreement at any time thereafter.
ARTICLE V
GENERAL CONDITIONS
5.1 PROJECT PUBLICITY
The Contractor must inform the residents of the geographical
area to be served hereunder, of the services to be offered.
All literature, advertising,
the Contractor's activities
review and approval prior to
No press conference will be
notice to the City.
5.2 EQUAL OPPORTUNITY
publicity or promotion regarding
will be submitted to the City for
the release or distribution.
scheduled without prior written
The Contractor agrees that there will he no discrimination
against any employee or person served on account of race,
color, sex, religious creed, ,ancestry, physical handicap or nation-
al origin* in its per`ormance of this .(-rL,ement; and it is expressly
understood that upon the receipt of uvidcnce of such dis-
crimination, the City shall have the right to terminate this
.�creement.
41 - - A - S3--(tti3
i
5.3 CONFLICT OF INTEREST
No official or employee of the Contractor may be admitted
directly or indirectly to any share or part of this contract
or to any benefits to arise from the same nor own or acquire
any personal interest in any property, contract or proposed
contract which would conflict with or relate to the performance,
their duties or responsibilities under this contract. If any
such person presently or in the future acquires, owns or controls
any such share, benefit, or personal interest, he shall immedi-
ately disclose such interest to the City and other appropriate
agencies. Upon such disclosure, such person shall not continue
his participation unless it is determined by the Cit;that his
participation is not contrary to public interest. The Con-
tractor will comply with all Federal, State and local conflict
of interest laws and requirements.
5.4 INDEMNIFICATION
The Contractor shall indemnify and save the City harmless from
and against any and all claims, liabilities, losses, and causes
of action which may arise out of Contractor's activities under
thisAgreEnent, including all other acts or omissions to act on
the part of the Contractors or any of them, including any person
acting for or on his or their behalf.
Contractor will present proof of coverage of liability which is
acceptable to the City. In addition, the Contractor will hold
the City harmless and will indemnify the City for funds which
the City is obligated to refund the Federal government arising
out of the conduct of activities and administration of the
Agreement.
5.5 LEVEL OF SERVICE
It is expected that funds are provided to insure quality service
to City residents. Should start-up time for a program be re-
quired or any delays in service occur, the Department of Economic
Development is to be notified in writing immediately giving all
pertinent details and indicating when service will begin and/or
continue. It is understood and agreed that the level of
services, activities and expenditures by the Contractor, in
existence prior to the initiation of services hereunder, shall
be continued and not be reduced in any way as a result of this
Agreement except for reductions unrelated to the provisions or
purposes herein stated. It is further understood and agreed
that the program funded through this Pgreement will not result
in the displacement of employed workers, impair existing contracts
for services, or result in the substitution of funds allocated
under this Agree?+entfor other funds in connection with work
which would have been performed even in the absence of this
lgreement.
5.6 DISCLOSURE OF FUNDS
5.7
The Contractor shall. disclose all sources (Public and Private)
and amounts of funds reflecting the total budget whether they
be real or in kind at the commencement of the contract period,
as well as any changes in the amount of funds through program
income or other sources received during the terms of agreement,
within thirty (30) days of such change. Examples of in -kind
funds to include free rent, labor, office equipment, etc.
USE OF INCOME DERIVED FROM CONTRACT
The Contractor agrees that any income derived from this Agreement
will be utilized for activities eligible under the Community
Development Block Grant regulations and will be approved in
advance by the Department of Economic Development.
- 5 -
0
r
5.3 FINAL EXPENDITURE REPORT
5.9
A final budgetary report including audited financial statements
shall be submitted to the City within thirty (30) days after
the expiration of the contract period. This report should
reflect actual expenditures, by line -items, versus proposed
expenditures submitted at the beginning of the Contract year.
All per--ons employed and paid pursuant to this Agreement
should be listed by name, title, Social Security number,
date hired or terminated, ethnic backaround, and total salary
reflecting both City and other funding sources.
AMENDMENTS
The Citv and the Contractor may, in their discretion, amend
this Agreement,to conform with any contingencies which may
require such amendment. Amendments, if required, shall be
incorporated, in writing, to thisAgreement upon approval and
concurrence of the City and the Contractor.
5.10 AUDIT RIGHTS
The City reserves the right to audit the record3 of the Con-
tractor at any time during the performance of this Agreement
and for a period of one-year after final payment is made under
this Agreement.
6.1 GENERAL ASSURANCES AND CERTIFICATIONS
THE CONTRACTOR ASSURES AND CERTIFIES THAT:
1) It possesses legal authority to enter into this Agreenent;
a resolution, motion, or similar action has been duly
adopted or passed as an official act of the Contractor's
governing body, authorizing the execution of the Agreement,
including all understandings and assurances contained
herein, and directing and authorizing the person identified
as the official retresentative of the Contractor to act in
connection with the ?ireementand to provide such additional
information as may be required.
2) It will comply with Title VI of the Civil Rights Act of
1964 (P.L.88-352 78 STAT 241), and in accordance with
Title VI of the Act, no person in the United States shall
on the ground of race, color, sett, national origin,
political affiliation or beliefs (Sections 703(1) and
712), be excluded from participation in, be denied the
benefits of, or be otherwise subjected to discrimination
under any program or activity for which the Contractor
receives Federal financial assistance, and the Contractor
will immediately take any measures necessary to effectuate
this assurance.
3) It will comply with the provisions of the Hatch Act which
limits the political activity of employees.
4) It will comply with the requirement that no program under
this Agreement shall involve political activities (Section
710).
5) It will establish safeguards to prohibit employees from
using their positions for a purpose that is or gives
the appearance of being motivated by desire for private
gain for themselves or others, particularly those with
whom they have family, business or other ties (Section 702(a)
6) Participants or employees in the program found pursuant to
this Agreement, will not be employed on the construction,
operation or maintenance of that part of any facility which
is used for religious instruction or worship (Section 703(3))
7) Appropriate standards for health and safety in work and
training situations .gill be maintained (Section 703(5))
-6-
S3-I'A.:&`
6) .►
8) Persons employed in public service joins under this Agreement
shall be paid wages which shall not be lower than whichever
is the highest of (a) the minimum wage which would be
applicable to the employer under the Fair Labor Standard
Act of 1938, if Section 6 (a) (1) of such title applies to
the participant and if he were not exempt under Section 13
thereof; (b) the State or local minimum wage for the most
nearly comparable covered employment, or (c) the prevailing
rates of pay for persons employed in similar public
occupations by the same employer (Section 208 (a) (2)).
9) It will comply with the regulations and requirements of the
Department of Management and Budget Circular A-102,
"Uniform Administration Requirements for Grants -in -Aid to
State and Local Governments" and Federal Management Circular
74-4, "Principles for Determining Costs Applicable to
Grants and Contracts with State and Local Governments."
ARTICLE VII
COMPENSATION METHOD
7.1 MAXIMUM COMPENSATION
It is expressly understood and agreed that in no event, shall
the total compensation and/or reimbursement to be paid here-
under exceed the maximum sum of $350,226.55. The Contractor
futher agrees not to charge the Agreement any further admini-
strative expenses.
7.2 TIME OF PERFORMANCE
This Agreement shall become effective April 18, 1983, and shall
be undertaken and completed in light of purpose of this P.areenent;
all services required hereunder shall be completed by September
14, 1983. A six-month extension of the Agreement �Jll :,e
permitted in the event that the Contractor is unable to provide
the necessary loans and HUD further extends the use of these
funds. Such a request for extension should be put in writing
sixty (60) days before contract termination :and submitted for
approval to the Department of Economic Development.
7.3 TITLE TO ASSETS AND FINAL DISPOSITION
Funds paid under this Agreement by the City to the Contractor
loaned as provided, shall be returned to the City within
24 hours. Funds paid under this Aqreement are paid to the Contractor
in trust for the purposes set forth in this Aqreement and
shall be used solely therefore. The following covenants and
conditions apply thereto:
1) Whenever money intended to be loaned or disbursed pursuant
to a loan/grant program approved under this Agreement is
not so loaned or disbursed, it must be returned to the
City within 24 hours.
2) When loans are repaid by the borrower, funds may be retained by
the Contractor as an interest bearing bank deposit and may be
used solely for new loin Agreements providing such facts are
first reported to and approved by the City, and are eligible
under Community Development Block Grant regulations.
3) None of the funds, neither principal or interest, in this loan
program can be used for administrative purposes.
4) Upon termination and final disposition of assets, interest
i
_,, + .
&ti3 .
on loans rrA& by the Contractor and a� uing to the Contrac-
tor shall deemed to be part of the' nds allocated to the
Contractor by the City. t
5) Upon dissolution of the Contractor or its inability to rake the
loan or Brant provided for hereunder, all of its rights, title
and interest in said monies and their produce and all assets
of the Contractor shall immediately accrue to the City of
Miami and shall be transferred within fire (5) days by the Con-
tractor to the City of iiiami.
6) Funds may be withheld by the City for any of the following
reasons:
a) If the Contractor makes any substantial misrepresentation
of any material fact in any of its periodic reports.
b) If there is litigation pending with respect to the
performance of the Contractor which adve.rselN, affects the
operation of the Contractor.
c) If the Contractor is in substantial breach of any of the
provisions of its Agreement with the City.
d) If reports as required by the City have not been
submitted within the time required or reasonable
cause shown for such delay.
7) The Contractor is only to request funds to pay a loan closing
after they have a scheduled firm date for a loan closing and
only three days prior to the date of the loan closing.
ARTICLE VIII
ASSURANCES AND CERTIFICATIONS
8.1 OPPORTUNITIES FOR SMALL AND MINORITY BUSINESS
The Contractor shall make a positive effort to utilize small
business and minority owned business sources of supplies and
services, and provide these sources the maximum feasible
opportunity to compete for opportunities to be performed pursuant
to this Agreement. To the maximum extent feasible, these small
business and minority owned business sources shall be located
in or owned by residents of the Community Development Target
Area(s) designated by the City of. Miami in the Community
Development Grant Application approved by the U.S. Department
of Housing and Urban Development.
8.2 CITIZEN PARTICIPATION
The Contractor shall cooperate with the Office of Community
Development in informing the appropriate Community Development
Citizen Participation Structure(s) including the appropriate
Target Area Committee(s) of the activities of the Contractor
in carrying out the provisions of this Agreement. Representa-
tives of the Contractor shall attend meetings of the appropriate
Committee(s) and Citizen Participation Structure(s) upon the
request of the Citizen Participation Officers, the Department
of Community Development, and/or Dade County.
8.3 ANTI -KICKBACK PROVISION
The Contractor will comply with the anti -Kickback Act, Title
18, USC Section 874, and provisions of the Federal Labor
Standards, Title 29.
ARTICLE IX
9.1 TERMINATION CLAUSE
1) The City, by giving written notice specifying the effective
date, may terminate thisAc�r`ement in whole or in part for
cause which shall include: (1) Failure, for any reason, of
the Contractor to fulfill in a timely and proper manner its
obligations under this A(jrec;:(_-nt, inr_ludinq compliance with
the approved work Program and attach-d conditions and such
directives as may become generall;, applicable at any time,
(2) Submission by the Contractor to the City, of reports
that are incorrect or incomplete in any material respect;
and (3) ineffective or improper use of funds provided under
this Contract.
2) Further, it is mutually agreed that the Contractor shall imme-
diately, upon demand by the City, cease and terminate any and
all activities including but not limited to divesting itself
and any subsidiary(s) of specific assets and/or projects and
that upon demand of the City any and all accumulations thereon,
shall be delivered to the City and become the sole property of
the City.
ARTICLE X
10.1 SIGNATORIES
The legal representative(s) of this Agreement, for the Con-
tractor, should be the President and Secretary of the Board
of Directors or any other person the Board designates by
resolution or affidavit. This affidavit will be attached
and made a part of this Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be executed in their names by their duly authorized officers
and the corporate seals to be affixed hereto, all as of the day
and year first above written.
WITNESS our hands and seals on this day of , 1983.
CITY OF MIAMI, a municipal corporation
of the State of Florida
ATTEST:
By
RALPH G. ONGIE, CITY CLERK HOWARD V. GARY, CITY t•LINAGER
ATTEST:
CONTRACTOR:
MIAMI CAPITAL DEVELOPMENT INC.
SECRETARY PRESIDENT
APPROVED AS TO FORM AND CORRECTNESS:
JOSE R. GARCIA-PEDROSA
CITY ATTORNEY
J
g3--11'23