HomeMy WebLinkAboutcover memoPublic Hearing
CITY OF MIAMI, FLORIDA PH.3
INTER-OFFICE MEMORANDUM
TO :
FROM
The Honorable Mayor and
MemberQf The City
Joe Arrio
City Man
DATE:
SUBJECT:
NOV I4 2003
FILE :
Allocation of funds from the
District 5 Little Haiti Job Creation
Pilot Project
REFERENCES : City Commission Agenda
November 25, 2003
ENCLOSURES:
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the attached Resolution
allocating Community Development Block Grant (CDBG) Funds from the District 5 Little Haiti
Job Creation Pilot Project set -aside in the amount of $90,000 to Amazing Minds Academy, Inc.
in the form of a five (5) year deferred, forgivable loan with the provision that the funds be used
to create and maintain new employment opportunities for residents of the Little Haiti
neighborhood for a period of five (5) years, subject to the submission of evidence of available
financing to complete the project; and further authorizing the City Manager to enter into an
agreement with said agency for said purpose, substantially in the attached form, subject to
applicable City Code provisions.
BACKGROUND:
On April 14, 1998, the City Commission adopted Resolution No. 98-402.1 allocating $225,000
of CDBG funds representing the first installment of a five-year commitment to implement the
Little Haiti Job Creation Project as a special initiative to meet the unique needs of businesses in
Little Haiti and to create jobs for neighborhood residents.
On May 1, 2001, the City Commission approved the creation of the District 5 Little Haiti Job
Creation Pilot Project and adopted project guidelines. The purpose of the project, as identified in
the guidelines, is to provide one-time deferred, forgivable loans to businesses in the Little Haiti
Community Revitalization District with the goal of providing job creation opportunities for low
and moderate -income residents in the Little Haiti Community through business expansion and
retention activities. The program design includes the following eligible activities:
• Upgrade and expansion of facilities
• Correction of code violations on commercial properties
• Improvements to meet ADA standards
• Infrastructure Improvements (i.e. lighting, draining,
parking, etc.)
• Facade Improvements
To qualify for the deferred, forgivable loan, an area business must create a minimum of one (1)
new, full-time job for each increment of $15,000 and the maximum grant available will be
$90,000. Opportunities remain available to eligible businesses until funds authorized through the
five (5) year commitment have been depleted.
On January 24, 2002, the City Commission approved member appointments to the District 5
Little Haiti Job Creation Pilot Project Advisory Board. On April 23, 2003, the Advisory Board
voted to recommend City Commission approval of the allocation of CDBG funds in the amount
of $90,000 to Amazing Minds Academy, Inc. For each $15,000 in funding, the program must
create and maintain one (1) new employment opportunity for residents of the Little Haiti
neighborhood for a period of five (5) years. Furthermore, this approval is subject to the
following provisions: (i) applicant must provide evidence of available financing to complete the
project, (ii) the project must receive U.S. HUD approved environmental clearance, and (iii) the
project must meet all applicable local, State and Federal regulations.
Proposed Funded
Agency / Project New Jobs Amount
Beginning Balance:
District 5 Little Haiti Job Creation Pilot Project $ 564,863
Allocation to:
Amazing Minds Academy, Inc. 6 $ 90,000
Remaining Balance:
District 5 Little Haiti Job Creation Pilot Project $ 474,863
It is recommended that the City Commission adopt the attached Resolution allocating
Community Development Block Grant (CDBG) Funds from the District 5 Little Haiti Job
Creation Pilot Project set -aside in the amount of $90,000 to Amazing Minds Academy, Inc. in
the form of a five (5) year deferred, forgivable loan with the provision that the funds be used to
create and maintain new employment opportunities for residents of the Little Haiti neighborhood
for a period of five (5) years, subject to the submission of evidence of available financing to
complete the project; and further authorizing the City Manager to enter into an agreement with
said agency for said purpose, substantially in the attached form, subject to applicable City Code
provisions.
The proposed Resolution re -allocates CDBG grant funds and does not have a budgetary
impact on the General Fund.
LMH/BGR