HomeMy WebLinkAboutR-23-0296City of Miami
Resolution R-23-0296
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Legislation
File Number: 14107
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 7/13/2023
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT
PARTNERSHIPS PROGRAM ("HOME") FUNDS GENERATED FROM
OCTOBER 1, 2022 TO APRIL 30, 2023, IN THE AMOUNT OF $99,172.75 AND
AN ADDITIONAL AMOUNT OF $296,378.33 OF RECAPTURED FUNDS FOR A
TOTAL AMOUNT OF $395,551.08, AS SPECIFIED IN EXHIBIT "A," ATTACHED
AND INCORPORATED; AUTHORIZING THE CITY MANAGER TO NEGOTIATE
AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE.
WHEREAS, the Department of Housing and Community Development ("Department")
receives diverse types of repayments from loans provided to developers and homeowners such
funds, which are referred to as program income, are required to be used for eligible program
activities; and
WHEREAS, from October 1, 2022, to April 30, 2023, the Department collected an
amount of $99,172.75 in Home Investment Partnerships Program ("HOME") program income
and an amount of $296,378.33 in recaptured funds for a total of $395,551.08 ("Funds"); and
WHEREAS, pursuant to HOME regulations 24 CFR Part 92.503, program income and
the recapture amount must be used for eligible HOME activities; and
WHEREAS, the Department recommends allocating the Funds to the eligible HOME
activities specified in Exhibit "A," attached and incorporated;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated as if fully set forth in this Section.
Section 2. The allocation of the Funds to the eligible HOME activities specified in Exhibit
"A," attached and incorporated, is authorized.'
Section 3. The City Manager is authorized' to negotiate and execute any and all
necessary documents, all in a form acceptable to the City Attorney.
Section 4. This Resolution shall become effective immediately upon its adoption.
' The herein authorization is further subject to compliance with all legal requirements that may be
imposed, including but not limited to those prescribed by applicable City Charter and City Code
provisions.
City of Miami Page 1 of 2 File ID: 14107 (Revision: A) Printed On: 712012023
File ID: 14107
Enactment Number: R-23-0296
APPROVED AS TO FORM AND CORRECTNESS:
1
Vft6ria-Vrdel, City Attor iey 6/27/2023
City of Miami Page 2 of 2 File ID: 14107 (Revision: A) Printed on: 712012023