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Date: 08/18/2023
AGENDA ITEM SUMMARY FORM
File ID: #14488
Commission Meeting Date: 09/28/2023
Type: Resolution
Subject: Allocate Funds - HOME Program
Purpose of Item:
Requesting Department: Department of
Housing and Community Development
Sponsored By:
District Impacted: All
Authorizing the allocation of program income from home investment partnership
("home") program 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; authorizing
the city manager to negotiate and execute any and all necessary documents, all in a
form acceptable to the city attorney, for said purpose.
Background of Item:
The Department of Housing and Community Development ("Department") receives
diverse types of repayments from loans provided to developers and homeowners in the
past, such funds referred to as program income, are required to be used for eligible
program activities.
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 ("Program Income").
Pursuant to HOME regulations 24 CFR Part 92.503, program income and recapture
amount must be used for eligible HOME activities.
The Department recommends allocating the Funds to the eligible HOME activities
specified in Exhibit "A," attached and incorporated.
Budget Impact Analysis
Item is NOT Related to Revenue
Item is NOT funded by Bonds
Total Fiscal Impact:
Total Fiscal Impact: $50,509.26
Reviewed B
Department of Community
Review Completed
Office of Management and
Office of Management and
City Manager's Office
City Manager's Office
Legislative Division
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the City Clerk
and Economic Development
08/18/2023 3:00 PM
Budget Luis Hernandez -Torres
Budget Marie Gouin
Larry M. Spring
Arthur Noriega V
Valentin J Alvarez
Raymond Pereira
Victoria Mendez
Maricarmen Lopez
City Clerk's Office
George Mensah
Budget Analyst Review
Budget Review
Assistant City Manager Review
City Manager Review
Legislative Division Review
ACA Review
Approved Form and Correctness
Meeting
Rendered
Department Head
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
09/07/2023 3:18 PM
09/08/2023 3:03 PM
09/14/2023 9:45 AM
09/14/2023 9:47 AM
09/15/2023 7:43 AM
09/15/2023 2:45 PM
09/18/2023 2:37 PM
09/28/2023 9:00 AM
10/04/2023 6:01 PM
/
City of Miami
Legislation
Resolution
Enactment Number: R-23-0423
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.'
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.
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.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS: