HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM Law Department
Matter ID No.
FILE ID: )
Date: 06/14/2010 Requesting Department: Community Development
Commission Meeting Date: 07/08/2010 District Impacted: 1
Type: M Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: MANUFACTURED HOME DOWNPAYMENT ASSISTANCE PROGRAM
Purpose of Item:
APPROVING THE CITY OF MIAM ("CITY") DEPARTMENT OF COMMUNITY DEVELOPMENT
MANUFACTURED HOME DOWNPAYMENT ASSISTANCE PROGRAM POLICIES FOR
COMMISSION DISTRICT 1, AS DESCRIBED IN EXHIBIT "A", ATTACHED AND INCORPORATED;
TRANSFER OF $200,000 FROM THE DISTRICT 1 HOME INVESTMENT PARTNERSHIP ("HOME")
RESERVE ACCOUNT FOR THE IMPLEMENTATION OF SAID PROGRAM; FURTHER
AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS FOR THE
IMPLEMENTATION OF SAID PROGRAM AND TRANSFER OF FUNDS.
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)
CTP Budget
If using or receiving capital funds
Grants Risk Management
Purchasing Dept. Director
Chief ,-" 4- q O/� City Manager
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Ordinance No. 13012, adopted July 24, 2008, the Miami City Commission approved the
establishment of District 1 Housing Advisory Board which shall receive its initial sunset review in the
Year 2013, and then every four years thereafter, to advise and initiate the District 1 Housing Initiative.
With the adoption of the City's Five Year Consolidated Plan in 1999, the Miami City Commission
approved the establishment of seven (7) Community Revitalization Districts in the City, and District 1
has been identified as the next area to undergo comprehensive redevelopment.
Five annual allocations of $1.5 million in HOME funds will be used to create the District 1
Homeownership Zone which will create homeownership opportunities within the district.
The priority of District 1 is to address the substandard housing conditions of the districts
manufactured home sites, primarily occupied by low income residents of the City.
As a result, the District 1 has established the Manufactured Home Downpayment Assistance
("MHDA") Program which will be administered by the City's Department of Community Development.
The MHDA program is designed to assist with the replacement of substandard manufactured homes
utilizing funding from the District 1 Homeownership Zone.
MHDA program will provide downpayment assistance, closing costs and/or second mortgage
financial assistance toward the purchase of a new manufactured home to low income residents
whose manufactured homes have been found to be in violation of City codes.
The Administration requests the approval of the MHDA Program Policies which will provide District 1
low income residents with assistance to replace manufactured homes, closing costs and/or second
mortgage financial assistance toward the purchase of a new manufactured homes that have been
found to be in violation of City codes, as described in Exhibit "A", attached and incorporated; transfer
of $200,000 from the District 1 HOME reserve account for the implementation of said program.