HomeMy WebLinkAboutExhibitEXHIBIT "A"
City of Miami Repayment Agreement with HUD
REPAYMENT PLAN
a) HOPWA: Movers, Inc. resale of Sugar Hill Apartments: $935,556.20
City to use all avenues at its disposal to seek the repayment of the amount from Movers,
Inc. Notwithstanding, within eighteen (18) months, the City hopes to reimburse its
HOPWA line of credit in an amount of $935,556.20 being the total amount disbursed for
the Sugar Hill Apartments project.
b) HOME:
Model City project land banking and consulting fee disallowance: $2.6 million
The City will make $250,000 payment for fiscal year 2009, $450,000 for fiscal year
2010 and a final payment of $1.9 million in the third year to the City's HOME line
of credit
ii. City employees down payment program conflict of interest: $87,685
The City will make the $87,685 payment within 120 days of approval by HUD.
c) CDBG: Downtown Facade Improvement Program: $404,583.56
This payment will be made within 120 days of approval of the plan.