HomeMy WebLinkAboutR-81-0077RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY
MANAGER TO INCREASE THE ALLOCATION
OF SIXTH YEAR COMMUNITY DEVELOPMENT
BLOCK GRANT FUNDS TO THE OVERTOWN
ECONOMIC DEVELOPMENT CORPORATION
FROM $50,000 TO $111,300 FOR THE
PURPOSE OF PROVIDING EXPANDED
ECONOMIC DEVELOPMENT SERVICES IN
THE OVERTOWN TARGET AREA; FURTHER
AUTHORIZING THE CITY MANAGEP TO
EXECUTE AN AMENDMENT TO THE AGREE-
MENT WITH SUCH AGENCY.
D, _
1 ,E
WHEREAS, the Overtown area is the most physically distressed
area of the city; and
WHEREAS, the Overt -.own area needs increased expanded economic
development activities in the area; and
W11FREAS, $111,300 had been allocated for Economic Development
in the target area, of which only $50,000 had been allocated to the
Overtown Economic Development Corporation; and
[WHEREAS, the Overtown Advisory Board has recommended that the
additional $61,300 be allocated to the Overtown Economic Development
Corporation.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to increase
the allocation of Sixth Year Community Development Block Grant funds
to the Overtown Economic Development Corporation from $50,000 to
$111,300 for the purpose of providing the Corporation with capital
to levera(Ie and attract different economic development projects to
the Overtown target area. "Docu vitly f ��VUtX
Tfie •rr1 /�
�►—I,I
CITY COMMISSI014
i MEETING OF
J51
j i I
P
Section Z. The City Manager is hereby authorized to
execute an amendment to the agreement With such agency.
PASSED ANTI) ADOPTED THIS 11
1981.
ATTEST:
1tA fl C, O\II , CITY :RK
C
nII
LUAL RI:VIE1,':
VALENTINE
1 ASS TSTA\T CITY ATTORNEY
BUDCET:IRY REVIEI.
MANNOIIAR \ 1)TRI7CT(
llI:PARTPIE\T t '1A\ACF.'tf•.AT I3l'1)C1:T
day of FEBRUARY f
APPROVED AS To FORT AND CORIUMNESS:
ROBERI' F. CLARK
ACTING CITY ATTORNEY
MAURICE A. FERRE_
M A Y 0 R
_2_
8 :t - 7 7
i r �►
CITY OF MIAMI. ITLOR1DA -
TO: Richard L. Fosmoen
City Manager
rno,I: Den" a p llman
Director
Community Development
DATE: January 13, 1981 FILE
'Su 2JEC T. Allocation of an Additional
$61,300 to the Overtown
Economic Development Corp.
pEcrgE��CE9: �
City Commission Meeting
Agenda - 1/22/81
EucLcSuzES:
It is recommended that the attached
resolution be approved by the City
Commission authorizing the City
Manager to increase the allocation
of Sixth Year Community Development
Block Grant funds to the Overtown
Economic Development Corporation
from $50,000 to $111,300 for the
purpose of providing the Corporation
with capital to leverage and attract
different Economic Development pro-
jects to the Overtown target area.
In the City of Miami's 6th year Community Development Block Grant
Program, $111,300 is allocated for economic development activities
in the Overtown target area. Of the $111,300 allocated, $50,000
has been contracted to the Overtown Economic Development Corpora-
tion for the implementation of a Neighborhood Economic Development
Program.
The Overtown area is the most physically distressed area of the cite
and it is in dire need of expanding their present Economic Develop-
ment program.
The Overtown Advisory Board has recommended that the remainina
$61,300 in Economic Development fundinc, be utilized to improve
services presently being provided by the Overtoc.,n Economic Devel-
opment Corporation.
City staff recommends that these funds be used to provido the Cor-
poration with capital to leverage and attract different economic
development projects to the Overtown tarclot area continent on the
prior city approval of the project.
/cr
Attachment
y