HomeMy WebLinkAboutR-05-0475City of Miami
Legislation
Resolution: R-05-0475
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 05-00734 Final Action Date: 7/28/2005
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE TRANSFER OF FUNDS, IN THE AMOUNT OF $200,000,
FROM THE SPECIAL REVENUE ACCOUNT ENTITLED, "POVERTY INITIATIVE;"
ALLOCATING SAID FUNDS TO THE CITY OF MIAMI DEPARTMENT OF
COMMUNITY DEVELOPMENT TO FUND ACCION U.S.A., INC., FOR THE
UNDERWRITING OF SMALL BUSINESS LOANS ASSOCIATED WITH THE
CONTINUATION OF PHASE II OF THE CITYWIDE POVERTY INITIATIVE;
AUTHORIZING THE CITY MANAGER TO EXECUTE A SPECIAL GRANT
AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORM, WITH SAID AGENCY
FOR SAID PURPOSE.
WHEREAS, the Mayor and Commissioners of the City of Miami ("City") have resolved to use their
best efforts to assist City residents by appealing to the State and Federal government, foundations
and other entities to leverage any funds available to the City to assist its poor; and
WHEREAS, the goal of the Citywide Poverty Initiative is to assist low and moderate -income
individuals and families to: (1) access existing public benefits; (2) improve their financial literacy; (3)
obtain access to quality sources of loan and equity capital; and (4) save to build wealth and
accumulate assets; and
WHEREAS, pursuant to Resolution No. 03-0378, adopted April 10, 2003, the City Commission
funded the amount of $200,000, to Accion U.S.A., Inc., to underwrite small business loans
associated with Phase II of the Citywide Poverty Initiative; and
WHEREAS, the Administration desires to continue Phase II of said plan, to affirm the City's
support of a local, collaborative effort to expand access to sources of quality loan capital among small
business owners and entrepreneurs;
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 and adopted by
reference and incorporated as if fully set forth in this Section.
Section 2. The transfer of funds, in the amount of $200,000, from the Special Revenue Account
entitled, "Poverty Initiative" and the allocation of said funds to the City Department of Community
Development to fund Accion, for the underwriting of small business loans associated with the
continuation of Phase II of the Citywide Poverty Initiative, is authorized.
Section 3. The City Manager is authorized{1} to execute a Special Grant Agreement, in
substantially the attached form, with said agency for said purpose.
City of Miami
Page 1 of 2 File Id: 05-00734 (Version: 11 Printed On: 11/23/2016
File Number: 05-00734 Enactment Number: R-05-0475
Section 4. 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 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: 05-00734 (Version: 11 Printed On: 11/23/2016