HomeMy WebLinkAboutSummary FormDate: 9/12/2005
AGENDA ITEM SUMMARY FORM
FILE ID: 05 " (') k. 04 b
PH.3
Requesting Department: Community Development
Commission Meeting Date: 9/22/2005 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Transferring funds to Neighbors and Neighbors Association, Inc.
Purpose of Item:
AUTHORIZING THE TRANSFER OF 30TH YEAR COMMUNITY DEVELOPMENT GRANT
(CDBG) FUNDS, AS SPECIFIED IN ATTACHMENT "A", ATTACHED AND INCORPORATED,
IN THE TOTAL AMOUNT OF $500,000; ALLOCATING SAID FUNDS TO NEIGHBORS AND
NEIGHBORS ASSOCIATION, INC. FOR THE REHABILITATION OF THE BUILDING
FACADES FOR BUSINESSES BETWEEN NW 54TH AND 58TH STREET ALONG NW 7TH
AVENUE (OSHUN VILLAGE PROJECT); AUTHORIZING THE CITY MANAGER TO
EXECUTE AN AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORM, WITH SAID
AGENCY FOR SAID PURPOSE.
Background Information:
See attached
Budget Impact Analysis
Is this item related to revenue?
Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND PATE)
Dept. Direct /
Chief City Manager
PAOR 1 of 1
Agenda Item Summary Form
Transferring funds to Neighbors and Neighbors Association, Inc.
Background Information
• The Oshun Village Project is a commercial revitalization program that
consists of renovating the building facades between NW 54th and 58th
street along NW 7th Avenue; and
• The funding will be for the physical rehabilitation and enhancement of the
building facades and the property exterior area adjacent to the major
commercial road right of ways; and
• It is a pilot program in which the merchant/ owners will be required to
contribute to the cost of renovating their business, not exceeding 10% of
the total cost allocated to their property; and
• Participating property owners will be required to reimburse the City if the
property is sold before five (5) years, at a declining rate as follows: first
year- 100%, second year-75%, third year- 50%, fourth year- 25%, and fifth
year- 10%; and
• In addition to allowable repairs, the program will work with the City of
Miami NET offices to correct exterior code violations; and
• Participating businesses will be required to commit to make if any jobs
created available for low and moderate City of Miami residents; and
• Miami Dade County, will contribute $200,000 for said project; and