HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM Law Department
Matter ID No.
FILE ID•
O ! JOV Y V _
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Date: 06/12/2009 Requesting Department: Community Development
Commission Meeting Date: 07/09/2009 District Impacted: 1,2,3,4,5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: TRANSFER OF HOME FUNDS TO THE FIRST TIME HOMEBUYER PROGRAM
Purpose of Item:
AUTHORIZING THE TRANSFER OF HOME INVESTMENT PARTNERSHIPS PROGRAM ("HOME")
FUNDS, IN THE AMOUNT OF $1,000,000, FROM THE CITY OF MIAMI DEPARTMENT OF
COMMUNITY DEVELOPMENT HOME HOUSING ACTIVITIES; ALLOCATING SAID FUNDS TO
THE FIRST TIME HOMEBUYER PROGRAM FOR DOWN PAYMENT AND CLOSING COST
ASSISTANCE, AS SPECIFIED IN EXHIBIT "A", ATTACHED AND INCORPORATED.
Background Information:
On June 5, 2008 the City Commission allocated $1,000,000 in HOME funds to the First Time
Homebuyer Program for the provision of down payment assistance to eligible first home buyers.
All funds in the First-time Homebuyer Program are completely committed, and
The Administration is requesting the amount of $1,000,000 be transferred to the First Time
Homebuyer Program.
Said amount will be utilized for down payment and closing cost assistance to homebuyers.
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:
CIP
If using or receiving capital funds
Grants
Final Approvals
(SIGN AND DATE)
Budget
Risk ManaR��„*
Purchasin Dept. Dire(
Chief City Mana
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