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HomeMy WebLinkAboutcover memor 1 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM 'PIA 3P�� D� TO : FROM : e Honor mbers Arriola Manager and DATE: SUBJECT: REFERENCES: ENCLOSURES: September 15, 2004 FILE : Transferring of CDBG funds from Housing Loan Recovery Fund to Single Family Programs City Commission Meeting October 14, 2004 RECOMMENDATION: It is respectfully recommended that the City Commission adopt the attached Resolution, with attachment(s), transferring Community Development Block Grant (CDBG) funds in an amount not to exceed $484,580.43 from the Housing Loan Recovery Fund to Single Family Programs for housing activities. BACKGROUND: On September 11, 2003, the City Commission adopted Resolution No. R-03-995 which allocated $484,580.43 to the Housing Loan Recovery Fund. Said funds have not been utilized and there is a serious need to assist families who need housing rehabilitation. City of Miami's Single Family Programs has a received a total of 247 applications for families requesting housing rehabilitation that need to be processed. It is recommended that the City Commission adopt the attached Resolution, with attachment(s), transferring CDBG funds in an amount not to exceed $484,580.43 from the Housing Loan Recovery Fund to Single Family Programs for housing activities. The p osed Resolution does not have a budgetary impact on the General Fund. R