HomeMy WebLinkAboutSummary Form=o Law Department
�• —_ AGENDA ITEM SUMMARY FORM
Matter ID No.
`�� ��
FILE ID• �C 09-1309
Date: 05/22/2009 Requesting Department: Community Develop
Commission Meeting Date: 06/18/2009 District Impacted: 2
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: AMENDING RESOLUTION NO. 07-0488; ALLOCATION OF FUNDS TO KIDCO
CHILD CARE, INC.
Purpose of Item:
AMENDING RESOLUTION NO. 07-0488, ADOPTED SEPTEMBER 11, 2007, RELATING TO THE
ALLOCATION OF 33RD YEAR COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG,') FUNDS IN
THE AMOUNT OF $300,000 TO KIDCO CHILD CARE, INC. FOR PUBLIC FACILITIES AND
IMPROVEMENT ACTIVITIES TO PURCHASE AND TO PROVIDE CHILD CARE SERVICES AT
THE PROPERTY LOCATED AT 242 NORTHEAST 26TH STREET, MIAMI, FLORIDA;
AUTHORIZING THE CITY MANAGER TO EXECUTE AGREEMENT(S) IN SUBSTANTIALLY THE
ATTACHED FORM(S), WITH SAID AGENCY, FOR SAID PURPOSE.
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:
Special 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
If using or receiving capital funds
Grants
Purch in
Chief
Pa
Budget.
Risk Management
Dept. Director
City Manager
,elofl
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Resolution No. 07-0488, adopted September 11, 2007, authorized the allocation of up to 55% of the
cost of acquisition with a maximum compensation of $300,000 to KIDCO Child Care, Inc. ("Kidco") in
33rd Year CDBG funds for public facilities and improvement activities to purchase a facility to provide
child care services.
Kidco has identified a property located at 242 Northeast 26th Street, Miami, Florida suitable to provide
child care services to up to 40 low to moderate income children and families.
A Purchase and Sale Agreement was executed between Kidco and Sunny Property Investments,
LLC. to acquire said property for $300,000 on or before July 31, 2009.
Kidco has requested the removal of the restriction that the funds be used for up to 55% of the cost of
the acquisition of the building to allow the funds be used for 100% of the acquisition cost of the
building.
The Administration recommends amending Resolution No. 07-0488, adopted on September 11,
2007, authorizing the allocation of 33rd Year CDBG funds in the amount of $300,000 to Kidco for
public facilities and improvement activities to allow only the allocated funds to be used to purchase a
facility to provide child care services.