HomeMy WebLinkAboutcover memoCITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
The Honorable Mayor_and
Members of TlCity Commoln
Jo Arriola
Ci y Manager
DATE :
SUBJECT:
'APR - 4 2004
To approve the revised 2001- FILE
2004 LHAP Plan
REFERENCES :City Commission Agenda
ENCLOSURES: May 27, 2004
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the attached Resolution,
with Attachment, approving the revised City of Miami ("City") Local Housing
Assistance Plan ("LHAP"), attached and incorporated, for the period of July 1, 2001
through June 30, 2004, authorizing the City Manager to increase the maximum amount of
assistance provided to any applicant to $83,000; and to submit a modified plan for review
and approval by the Florida Housing Finance Corporation. Further authorizing the City
Manager to execute all necessary documents to transmit the amended plan to be the
Florida Housing Finance Corporation (FHFC).
BACKGROUND:
On March 11, 2004, City Commission approved an amendment to the Local Housing
Assistance Plan (LHAP) 2001-2004 and it's submission to the Florida Housing Finance
Corporation for approval. Upon review of the plan by the FHFC and their audit of past
expenditures for the Single Family Rehabilitation program, they noticed that some of the
expenditures were in the form of loans and in the form of grants; they recommended that
the City authorize one amount as the maximum allowed to be spent in an applicant's
home for the period of 2001-2004 this amount being $83,000. The FHFC has advised the
City of Miami that this change needs to be incorporated into the plan in order for the
expenditures to be approved by FHFC.
It is recommended that the City Commission adopt the attached Resolution, with
Attachment(s), approving the amended City of Miami LHAP for the period of July 1,
2001 through June 30, 2004, authorizing the City Manager to increase the maximum
amount of assistance provided to any applicant to $83,000; and to submit a modified plan
for review and approval by the Florida Housing Finance Corporation.
The proposed Resolution does not have a budgetary impact on the General Fund.
LMH/BGR