HomeMy WebLinkAboutSummary Form��tin'='a;, AGENDA ITEM SUMMARY FORM Law Department
,r ti4s.� Matter ID No.
Q� ! . FILE ID: /0
Date: 09/02/2010 Requesting Department: Community Development
Commission Meeting Date: 10/14/2010 District Impacted: 2, 5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: TRANSFER OF FUNDS TO RAFAEL HERNANDEZ HOUSING AND ECONOMIC
DEVELOPMENT CORPORATION
Purpose of Item:
AUTHORIZING THE DE -OBLIGATION OF COMMUNITY DEVELOPMENT BLOCK GRANT
('CDBG") FUNDS, IN THE AMOUNT OF $430,800, FROM THE ENTITIES LISTED IN
EXHIBIT "A", ATTACHED AND INCORPORATED; TRANSFERRING SAID FUNDS TO
RAFAEL HERNANDEZ HOUSING AND ECONOMIC DEVELOPMENT CORPORATION
("RHHED"), FOR ECONOMIC DEVELOPMENT ACTIVITIES TO CONTINUE THE
REHABILITATION OF COMMERCIAL BUILDINGS IN THE NORTHEAST 2"D AVENUE
CORRIDOR IN THE CITY OF MIAMI LITTLE HAITI NEIGHBORHOOD; FURTHER
AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENT(S)
FOR SAID PURPOSE(S).
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
Budget _
If using or receiving capital funds
Grants Risk Management _
PurchasingDept. Director /
Chiefi'1-�41 G4' City Manager
Page I of I
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
RHHED is a non-profit corporation engaged in economic development activities in City of Miami
("City") District 2 and 5.
This commercial rehabilitation project consists of the fagade rehabilitation of businesses located
along Northeast 2nd Avenue which include installing new windows, doors, awnings, signs, and
shutters; painting, carpentry work and architectural design.
RHHED will be compensated at a rate of 15% of the project cost, but not to exceed $64,620, for
overseeing and managing the commercial rehabilitation projects along Northeast 2nd Avenue and
property owners will be required to sign a 5 year covenant restricting the use of the property to
ensure compliance with federal regulations.
The Administration recommends the de -obligation of CDBG funds, in the amount of $430,800, from
the entities listed in Exhibit "A", attached and incorporated, and the transfer of said funds to RHHED
for Economic Development Activities to continue the rehabilitation of commercial buildings in the
Northeast 2nd Avenue corridor in the City of Miami Little Haiti neighborhood.