Loading...
HomeMy WebLinkAboutcover memoCITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM The Honorable Mayor and Members of The City Commission Joe Arri City Manager DATE: SUBJECT REFERENCES; ENCLOSURES: MAY 21 2004 FILE : Transfer of Home Investment Partnerships Program funds from Model City Homeownership Zone/Pilot Project City Commission Meeting June 10, 2004 RECOMMENDATION: It is respectfully recommended that the City Commission adopt the attached Resolution, authorizing the transfer of Horne Investment Partnerships Program funds previously allocated to Model City Homeownership Zone/Pilot Project to an in -fill affordable housing project in the Model City Area. BACKGROUND: On July 21, 1998 Resolution No.98-800, allocated a total of $1,500,000 in Home Investment Partnerships Program funds for the acquisition of vacant parcels and construction of homes. Asencv / Activity Transfer From Model City Homeownership Zone (IDIS#815) $650,000 * Model City In -Fill Affordable Housing Total Funds $650,000 Transfer To $650,000 $650,000 *To be funded by the Housing and Commercial Loan Committee It is recommended that the City Commission adopt the attached Resolution, authorizing the transfer of Home Investment Partnerships Program funds previously allocated to Model City Homeownership Zone/Pilot Project to an in -fill affordable housing project in the Model City Area The proposed Resolution does not have a budgetary impact on the General Fund.