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Text File Report
City Hall
3500 Pan American Drive
Miami, FL 33133
www.ci.miami.fl.us
File ID: 05-00039
Enactment #: R-05-0097
Version: 1
Type: Resolution Status: Passed
Enactment Date: 2/10/05
Introduced: 1/19/05 Controlling Body: Office of the City
Clerk
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, FOR A 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.
City of Miami Page 1 Printed on 9/15/2005
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}.
City of Miami Page 2 Printed on 9/15/2005