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Text File Report
City Hall
3500 Pan American Drive
Miami, FL 33133
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File ID: 05-00734
Enactment #: R-05-0475
Version: I
Type: Resolution Status: Passed
Enactment Date: 7/28/05
Introduced: 7/14/05 Controlling Body: Office of the City
Clerk
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 11 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 cfforts 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:
(I) 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{ I } to execute a Special Grant Agreement, in substantially the attached
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