HomeMy WebLinkAboutR-23-0423City of Miami
Resolution R-23-0423
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 14488 Final Action Date: 9/28/2023
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT
PARTNERSHIPS PROGRAM ("HOME") FUNDS GENERATED FROM MAY 1,
2023 TO JULY 31, 2023, IN THE AMOUNT OF $44,564.93 AND AN
ADDITIONAL AMOUNT OF $5,944.33 OF RECAPTURED FUNDS FOR A
TOTAL AMOUNT OF $50,509.26, AS SPECIFIED IN EXHIBIT "A," ATTACHED
AND INCORPORATED; FURTHER 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 various types of repayments from loans provided to developers and homeowners in the
past, such funds referred to as Program Income ("Program Income"), are required to be used for
eligible program activities; and
WHEREAS, from May 1, 2023, to July 31, 2023, the Department collected an amount of
$44,564.93 in Home Investment Partnerships Program ("HOME") Program Income and an
amount of $5,944.33 in recaptured funds for a total of $50,509.26; and
WHEREAS, pursuant to HOME regulations 24 CFR Part 92.503, Program Income and
recaptured funds must be used for eligible HOME activities; and
WHEREAS, the Department recommends the allocation of the Program Income
generated May 1, 2023, to July 31, 2023, in the amount of $44,564.93, and an additional
amount of $5,944.33 of recaptured funds, for a total amount of $50,509.26, 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 HOME Program Income generated from May 1, 2023, to
July 31, 2023, in the amount of $44,564.93, and an additional amount of $5,944.33 of
recaptured funds, for a total amount of $50,509.26, to the eligible HOME activities, as specified
in Exhibit "A," attached and incorporated, is authorized.
1 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: 14488 (Revision:) Printed On: 10/5/2023
File ID: 14488 Enactment Number: R-23-0423
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.
APPROVED AS TO FORM AND CORRECTNESS:
City of Miami Page 2 of 2 File ID: 14488 (Revision:) Printed on: 10/5/2023