HomeMy WebLinkAboutLegislationCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 06-02274 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE TRANSFER OF CONTRACT ADMINISTRATION AND ANY
REMAINING FUNDS FROM THE CITY OF MIAMI DEPARTMENT OF COMMUNITY
DEVELOPMENT; ALLOCATING SAID FUNDS, TO THE DEPARTMENT OF
ECONOMIC DEVELOPMENT, TO FUND ACCION U.S.A., INC., FOR THE
MICRO -LOANS PROGRAM ASSOCIATED WITH THE CONTINUATION OF THE
MAYOR'S CITY-WIDE POVERTY INITIATIVE (KNOWN AS ACCESS MIAMI);
AUTHORIZING THE CITY MANAGER TO EXECUTE A SPECIAL GRANT
AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORM, IN THE AMOUNT
OF $200,000, FOR A ONE -YEAR PERIOD, 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 governments, foundations
and other entities, to leverage any funds available to the City to assist its poor; and
WHEREAS, the goal of the City-wide Poverty Initiative (now known as ACCESS Miami) 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 on April 30, 2003, the City Commission
funded the amount of $200,000, to Accion U.S.A., Inc. ("Accion") to administer the micro -loans
program associated with the City-wide Poverty Initiative; and
WHEREAS, pursuant to Resolution No. 05-0475, adopted July 28, 2005, the funds were
transferred from the Poverty Initiative Special Revenue Fund to the Department of Community
Development to fund Accion; and
WHEREAS, the City's funding has facilitated the growth of Accion into the fastest growing
micro -lending program in domestic micro -finance history by disbursing $3.65 million in over 766 loans
in southern Florida to date, of which $1.25 million in 258 loans were disbursed to businesses in the
City with a repayment rate of 96%; and
WHEREAS, the City's funding has helped leverage additional funding from a wide array of sources
including individuals, family foundations, corporate foundations, banks and other public entities; and
WHEREAS, the City's funding has created over 40 new jobs and retained over 130 jobs within the
small business community; and
WHEREAS, the Administration desires to continue 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
City of Miami Page 1 of 2 Printed On: 12/28/2006
File Number:06-02274
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 contract administration and remaining funds from the Department of
Community Development, and the allocation of said funds, to the Department of Economic
Development to fund Accion, for the micro -loans program associated with the continuation of the
City-wide Poverty Initiative (known as ACCESS Miami), is authorized.
Section 3. The City Manager is authorized{1} to execute a Special Grant Agreement, in
substantially the attached form, in the amount of $200,000, with said agency, for said purpose.
Section 4. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{2}
APPROVED AS TO FORM AND CORRECTNESS:
JORG L.'ERNANDEZ
CITY O'NEY
d
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 Primed On: 12/28/2006