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AGENDA ITEM SUMMARY FORM PH3 Law Department
Matter Ill No.
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FILL ID:
Date: 0.1/14/2009
Commission Meeting Date: 02/1.2/2009
Requesting Department: Community Development
District Impacted: 1,2,3,4,5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion item
❑ Other
Subject: ACCEPTANCE OF THE NEIGHBORHOOD STABILIZATION PROGRAM PROPOSED
POLICIES
Purpose of Item:
ACCEPTING THE CITY OF MIAMI DEPARTMENT OF COMMUNITY DEVELOPMENT'S
PROPOSED NEIGHBORHOOD STABILIZATION PROGRAM POLICIES, AS DESCRIBED IN
EXHIBIT "A", ATTACHED AND INCORPORATE; AUTHORIZING THE CITY MANAGER TO MAKE
ANY NECESSARY CHANGES AS MAY BE PROMPTED BY CHANGES IN HUD REGULATIONS,
NOTICES OR CLARIFICATION MEMOS FOR THE PROGRAM.
Background Information:
Please see attached
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Sl.2ecial Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE)
CIP _ Bud2et
[f using; or receiving capitrd funds
Grants
Risk Mana
Purcha in Dept. Dire4
Chief City Mana
Page 1 of I
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
On July 30, 2008, the President of the United States signed the Housing and Economic Recovery Act
of 2008 which included the Neighborhood Stabilization Program ("NSP").
Pursuant to Resolution No. 08-0641 and 08-0642, both adopted on November 13, 2008, the Miami
City Commission approved the acceptance of a grant from the Department of Housing and Urban
Development (HUD) in the amount of $12,063,702, and also approved an Amended Action Plan to
HUD for the implementation of NSP.
NSP provides emergency assistance to the City of Miami to acquire foreclosed properties that might
otherwise become sources of abandonment and blight and rehabilitate, resell or redevelop these
properties to stabilize neighborhoods and stem the decline of house values on neighboring homes.
The policies attached as Exhibit A, ensure that NSP will be implemented according to all applicable
statutes and regulations; as well as the Amended Action Plan as approved by HUD.
The Administration recommends the acceptance of the proposed policies for the Department of
Community Development's NSP, as described in Exhibit "A", attached and incorporated.