HomeMy WebLinkAboutR-04-0272City of Miami
Legislation
Resolution: R-04-0272
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 04-00374 Final Action Date: 4/22/2004
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE
DE -OBLIGATION OF HOME INVESTMENT PARTNERSHIP (HOME)
FUNDS IN AN AMOUNT NOT TO EXCEED $750,000 FROM CORAL EAST
DEVELOPMENT, CORP. AND AN AMOUNT NOT TO EXCEED $750,000 FROM
RJM LEJUNE PROPERTIES INVESTMENTS, INC. FORATOTALAMOUNT NOT
TO EXCEED $1.5 MILLION AND REALLOCATING SAID FUNDS TO THE LITTLE
HAVANA HOME OWNERSHIP TRUST.
WHEREAS, on October 24, 2003, the City Housing and Commercial Loan Committee
approved the allocation of HOME Investment Partnership (HOME) funds, in an amount not to
exceed $750,000, to Coral East Development, Corp. and an amount not to exceed $750,000, to
RJM LeJune Properties Investments, Inc., and
WHEREAS, on March 19, 2004, the City Housing and Commercial Loan Committee
deobligated these funds as the developers could not fulfill the program requirements;
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 de -obligation of HOME funds, in an amount not to exceed $750,000, from Coral
East Development, Corp. and an amount not to exceed $750,000 from RJM LeJune Properties
Investments, Inc., for a total amount not to exceed $1,500,000, and the reallocation of said funds
to the Little Havana Home Ownership Trust, is authorized.
Section 3. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor.{1}
Footnotes:
{1} If the Mayor does not sign this Resolution, it shall become effective at the end of ten 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 1 of 1 File Id: 04-00374 (Version: 11 Printed On: 9/8/2016