HomeMy WebLinkAboutR-05-0097City of Miami
Legislation
Resolution: R-05-0097
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 05-00039 Final Action Date: 2/10/2005
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING THE REVISED CITY OF MIAMI ("CITY") LOCAL HOUSING
ASSISTANCE PLAN ("LHAP"), ATTACHED AND INCORPORATED, FOR THE
PERIOD OF JULY 1, 2004 THROUGH JUNE 30, 2007, FOR THE CONTINUED
PARTICIPATION OF THE CITY IN THE FLORIDA STATE HOUSING INITIATIVES
PARTNERSHIP ("SHIP") PROGRAM; AUTHORIZING THE REPLACEMENT HOME
INVESTMENT PARTNERSHIP PROGRAM MAXIMUM AMOUNT AWARD CHANGE
FROM AN AMOUNT NOT TO EXCEED$95,000 TO AN AMOUNT NOT TO EXCEED
$110,000; AUTHORIZING THE CHANGING OF THE TERMS OF SECOND
MORTGAGES FOR HOMEBUYERS AND HOMEOWNERS TO BE CONSISTENT
WITH THE CURRENT HOUSING POLICIES; AUTHORIZING THE REMOVAL OF
SHIP FUNDING FOR THE RENTAL DEVELOPMENT PROGRAM; AUTHORIZING
THE USE OF THE MAXIMUM PURCHASE PRICE DETERMINED BY THE FLORIDA
HOUSING FINANCE CORPORATION'S BOND PROGRAM CHANGE FROM AN
AMOUNT NOT TO EXCEED $173,701, FOR AN EXISTING HOME AND AN
AMOUNT NOT TO EXCEED $199,117, FORA NEW HOME TO AN AMOUNT NOT
TO EXCEED $236,835, FOR BOTH NEW AND EXISTING CONSTRUCTION;
AUTHORIZING THE MAXIMUM DOWN PAYMENT AWARD FOR THE FIRST TIME
HOMEBUYER PROGRAM CHANGE BASED ON THE NUMBER OF BEDROOMS
OR THE AMOUNT NEEDED TO MEET CREDIT UNDERWRITING; AUTHORIZING
THE CITY MANAGER TO SUBMIT A MODIFIED LHAP FOR REVIEW AND
APPROVAL BY THE FLORIDA HOUSING FINANCE CORPORATION; FURTHER
AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY
DOCUMENT(S), TO IMPLEMENT THE TERMS AND CONDITIONS OF THE SHIP
PROGRAM AND THE LHAP.
WHEREAS, pursuant to Resolution No. 04-0153, adopted March 11, 2004, the City of Miami
("City") Local Housing Assistance Plan ("LHAP") for the period of July 1, 2004 through June 30, 2007
for the continued participation of the City in the Florida State Housing Initiatives Partnership ("SHIP")
Program, was approved;
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 replacement Home Investment Partnership Program maximum amount award
change from an amount not to exceed $95,000 to an amount not to exceed $110,000, is authorized.
Section 3. Changing the terms of second mortgages for homebuyers and homeowners to be
consistent with the current Housing Policies, is authorized.
City of Miami
Page 1 of 2 File Id: 05-00039 (Version: 1) Printed On: 10/27/2016
File Number: 05-00039 Enactment Number: R-05-0097
Section 4. The removal of SHIP funding for the Rental Development Program, is authorized.
Section 5. The use of the maximum purchase price determined by the Florida Housing Finance
Corporation's Bond program change from an amount not to exceed $173,701, for an existing home
and an amount not to exceed $199,117, for a new home to an amount not to exceed $236,835, for
both new and existing construction, is authorized.
Section 6. The maximum down payment award for the First Time Homebuyer Program change
based on the number of bedrooms or the amount needed to meet credit underwriting, is authorized.
Section 7. The City Manager is authorized to submit a modified LHAP for review and approval by
the Florida Housing Finance Corporation.
Section 8. The City Manager is further authorized{1} to execute all necessary document(s), to
implement the terms and conditions of the SHIP Program and the LHAP.
Section 9. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor {2}.
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including but not limited to those prescribed by the City Attorney,
including but not limited to those prescribed by applicable City Charter and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) 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 2 of 2 File Id: 05-00039 (Version: 1) Printed On: 10/27/2016