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Resolution
File Number: 09-01355
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ACCEPTING THE MODIFICATION OF THE AFFORDABLE HOUSING TRUST
FUND GUIDELINES, AS SPECIFIED IN EXHIBIT "A", ATTACHED AND
INCORPORATED; AUTHORIZING THE CITY MANAGER TO IMPLEMENT THE
AFFORDABLE HOUSING TRUST FUND PROGRAM AS MODIFIED.
WHEREAS, pursuant to Resolution No. 07-0203, adopted April 12, 2007, the Miami City
Commission authorized the acceptance of the Affordable Housing Trust Fund Guidelines
("Guidelines"); and
WHEREAS, the Guidelines includes a methodology for awarding funds which is not very clear,
terms that are inconsistent with the current Department of Community Development's loan terms for
tax credit projects and outdated income and subsidy limits; and
WHEREAS, the Administration recommends the acceptance of the amended Guidelines which
clarify the methodology for awarding funds, modify the affordability period from 30 years to 20 years
for rental projects to be consistent with the loan terms for tax credit projects and update the income
and subsidy limits;
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 modification to the Guidelines, as specified in Exhibit "A," attached and
incorporated, is accepted.
Section 3. The City Manager is authorized{1} to implement the Affordable Housing Trust Fund
Program as modified.
Section 4. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{2}
APPROVED AS TO FORM AND CORRECTNESSte
JULIE 0. BRU
CITY ATTORNE 5
City of Miami Page I of 2 Printed On: 12/3/2009
File Number: 09-01355
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be imposed
by the City Attorney, including but not limited to those prescribed by applicable City Charter and Code
provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 Printed On: 12/3/2009