HomeMy WebLinkAboutR-80-086402I
RESOLUTION NO. 8 0- 8 G 4
RESOLUTION ALLOCATING $200,000 OF SIXTH
YEAR COMMUNITY DEVELOPMENT BLOCK GRANT
FUNDS TO =ROPOLITAN DADE COUNTY FOR
THE PURPOSE OF PROVIDING A MATCH FOR AN
ECONOMIC DEVELOPMENT ADMINISTRATION (EDA)
ECONOMIC ADJUSTMENT ASSISTANCE GRANT TO
PROVIDE BONDING AND WORKING CAPITAL LOANS
TO MINORITY CONTRACTORS; FURTHER AUTHOR-
IZING THE CITY MANAGER TO ENTER INTO AN
AGREEMENT WITH METROPOLITA14 DADE COUNTY
TO CARRY OUT THIS PURPOSE.
O�TIVE
DOS; ti J T S
FOLLOVi"
WHEREAS, on September 5, 1980, the Economic Development
Administration (EDA) approved an Economic Adjustment Assistance
'rant for $400,000.00 to Metropolitan Dade County under Title IX
of the Public Works and Economic Development Act of 1965, as
amended; rjnd
1%7HEREAS, the purpose of this grant is to provide bonding
and working capital loans to minority contractors; and
WHEREAS, the grant requires a match of $400,000.00 plus
administrative cost in the amount of $36,000.00; and
WHEREAS, at least 50°0 of the persons served will be City
of Miami residents;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. That Sixth Year Community Development Block
Grant funds in the amount of $200 , 000.00 be allocated to provide
50 percent of the match for an Economic Development Administration
(EDA) Economic Adjustment Assistance grant to provide bonding and
working capital loans to minority contractors. "DOCUMENT NDEX
ITEM NO.-_ /.
I
CITY COMMISSION
MEETING OF
NOV_>; 15k'.0
8O-86
RESOLUTION NO........,.-........
REWRKS:.............. ...........
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Section 2. The City Manager is hereby authorized to enter
into an agreement with Metropolitan Dade County to carry out this
grant.
PASSED AND ADOPTED THIS 26 day of November 1980.
ATTEST:
RALPH G. ONGIE
City Clerk
ZVED BY;
JAL.
' A. IALENTI E
Assistant City Attorney
APPROVED AS TO FORM STD CORRECTNESS:
I �
ORGE F. KNOX, r.
ty Attorney
W
2
-
_ MAA_URICE A. FERRF
MAURICE A. FERRE
Mayor
BUDGETARY REVIEW:
x x
I- NOHAR jS-U—RANA
Acting ctor
Dept—of"Management & Budget
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Richard L. Fosmoen November 6, 1980 <.
City Manager
Economic Adjustment
Assistance Grant
Dena Spi lman, Director F,:.: November 26, 1980
Community Development City Commission Agenda
J
It is recommended that the City c; �-
Commission approve a resolution
allocating $200,000.00 of sixth
year Community Development Block
Grant Funds to Metropolitan Dade
County for the purpose of provid-
ing a 50 percent match for an .r.
Economic Development Assistance •�
Grant to provide bonding and work- c
ing capital loans to minority
contractors; further authorizing
the City Manager to enter into an
agreement with Metropolitan Dade
County to carry out this purpose.
On September 5, 1980, the Economic Development Administration (EDA)
approved an Economic Adjustment Assistance Crant for $400,000.00 to
Metropolitan Dade County to provide bonding and working capital loans
to minorit,;,, contractors.
This grant requires a local match of $400,000.0o,plus administrative
cost in the amount of $36,000.00,
Since at least 50 percent of the persons served will be City of Miami
residents, it is recommended that the City of Miami allocate $200,000.00
for this purpose.
/cr
80-864