HomeMy WebLinkAboutLegislationFile Number: 10-00335
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING THE CITY OF MIAMI'S ("CITY") NEIGHBORHOOD STABILIZATION
PROGRAM ("NSP") SUBSTANTIAL AMENDMENT#2008.2, AS INDICATED IN
EXHIBIT "A", ATTACHED AND INCORPORATED, TO REFLECT A $1,350,000
TRANSFER OF ALLOCATED FUNDS FROM "STRATEGY A: ESTABLISH
FINANCING MECHANISMS FOR PURCHASE AND REDEVELOPMENT OF
FORECLOSED UPON HOMES AND RESIDENTIAL PROPERTIES" TO
"STRATEGY E: REDEVELOPMENT OF DEMOLISHED OR VACANT
PROPERTIES" AND TO INCLUDE THE NSP- FUNDED REHABILITATION
PROGRAM; AMENDING THE NSP REVISED IMPLEMENTATION POLICIES TO
INCLUDE THE NSP- FUNDED REHABILITATION PROGRAM; AND
AUTHORIZING THE CITY MANAGER TO SUBMIT THE CITY'S AMENDED
ANNUAL ACTION PLAN FOR FISCAL YEAR 2008-2009 TO THE UNITED STATES
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR REVIEW AND
APPROVAL.
WHEREAS, on July 30, 2008, the President of the United States signed the Housing Economic
Recovery Act of 2008 ("HEAR"), which included the Neighborhood Stabilization Program ("NSP"),
administered by the United States Department of Housing and Urban Development ("HUD"); and
WHEREAS, the NSP provides targeted emergency assistance to state and local governments
to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment
and blight within their communities; and
WHEREAS, on September 26, 2008, the City was awarded $12,063,702 for the
implementation of the NSP which provided emergency assistance to the City to acquire foreclosed
properties that might otherwise become sources of abandonment and blight and rehabilitate, resell, or
redevelop the properties to stabilize neighborhoods and stem the decline of house values of
neighboring homes; and
WHEREAS, pursuant to Resolution Nos. 08-0641 and 08-0642, adopted November 13, 2008,
the City Commission approved the acceptance of said grant in an amount of $12,063,702 and
amended the Annual Action Plan respectively for the implementation of NSP; and
WHEREAS, according to the NSP plan, as approved by the City Commission and HUD, the
City can purchase and rehabilitate properties for sale to eligible homebuyers; and
WHEREAS, the Annual Action Plan has since been substantially amended to include changes
to the previously approved NSP plan by expanding the "Areas of Greatest Needs" and modifying
certain program strategies; and
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Resolution
File Number: 10-00335
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING THE CITY OF MIAMI'S ("CITY") NEIGHBORHOOD STABILIZATION
PROGRAM ("NSP") SUBSTANTIAL AMENDMENT#2008.2, AS INDICATED IN
EXHIBIT "A", ATTACHED AND INCORPORATED, TO REFLECT A $1,350,000
TRANSFER OF ALLOCATED FUNDS FROM "STRATEGY A: ESTABLISH
FINANCING MECHANISMS FOR PURCHASE AND REDEVELOPMENT OF
FORECLOSED UPON HOMES AND RESIDENTIAL PROPERTIES" TO
"STRATEGY E: REDEVELOPMENT OF DEMOLISHED OR VACANT
PROPERTIES" AND TO INCLUDE THE NSP- FUNDED REHABILITATION
PROGRAM; AMENDING THE NSP REVISED IMPLEMENTATION POLICIES TO
INCLUDE THE NSP- FUNDED REHABILITATION PROGRAM; AND
AUTHORIZING THE CITY MANAGER TO SUBMIT THE CITY'S AMENDED
ANNUAL ACTION PLAN FOR FISCAL YEAR 2008-2009 TO THE UNITED STATES
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR REVIEW AND
APPROVAL.
WHEREAS, on July 30, 2008, the President of the United States signed the Housing Economic
Recovery Act of 2008 ("HEAR"), which included the Neighborhood Stabilization Program ("NSP"),
administered by the United States Department of Housing and Urban Development ("HUD"); and
WHEREAS, the NSP provides targeted emergency assistance to state and local governments
to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment
and blight within their communities; and
WHEREAS, on September 26, 2008, the City was awarded $12,063,702 for the
implementation of the NSP which provided emergency assistance to the City to acquire foreclosed
properties that might otherwise become sources of abandonment and blight and rehabilitate, resell, or
redevelop the properties to stabilize neighborhoods and stem the decline of house values of
neighboring homes; and
WHEREAS, pursuant to Resolution Nos. 08-0641 and 08-0642, adopted November 13, 2008,
the City Commission approved the acceptance of said grant in an amount of $12,063,702 and
amended the Annual Action Plan respectively for the implementation of NSP; and
WHEREAS, according to the NSP plan, as approved by the City Commission and HUD, the
City can purchase and rehabilitate properties for sale to eligible homebuyers; and
WHEREAS, the Annual Action Plan has since been substantially amended to include changes
to the previously approved NSP plan by expanding the "Areas of Greatest Needs" and modifying
certain program strategies; and
City of Miami Page I oft File Id. I0-00335 (Version: 1) Printed ns- en1n^'
File Number. 10-00335
WHEREAS, due to the general conditions of the homeownership market, the demand for
assistance under "Strategy A" has not met expectations; and
WHEREAS, the Administration recommends the approval of the City's NSP Substantial
Amendment #2008.2, as indicated in Exhibit "A", attached and incorporated, to reflect a $1,350,000
transfer of allocated funds from "Strategy A: Establish financing mechanisms for purchase and
redevelopment of foreclosed upon homes and residential properties" to "Strategy E: Redevelopment of
demolished or vacant properties" and to include the NSP -Funded Rehabilitation Program, and
amending the NSP revised Implementation Policies to include the NSP -funded rehabilitation program;
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 City's NSP Substantial Amendment #2008.2, as indicated in Exhibit "A",
attached and incorporated, to reflect a $1,350,000 transfer of allocated funds from "Strategy A:
Establish financing mechanisms for purchase and redevelopment of foreclosed upon homes and
residential properties" to "Strategy E: Redevelopment of demolished or vacant properties" and to
include the NSP -Funded Rehabilitation Program, and amending the NSP revised Implementation
Policies to include the NSP -funded rehabilitation program, is approved.
Section 3. The City Manager is authorized(1) to submit the City's Amended Annual Action Plan
for Fiscal Year 2008-2009 to HUD for review and approval.
Section 4. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor.{2)
APPROVED AS TO FORM AND CORRECTNESS:
JULIE BRU
CITY ATTORNEY
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 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 Miand Page 2 of 2 File Id -10-00335 (!Version • 71 Pp. -1-a ^ -