HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
FILE ID:
Date: 3/07/2007 Requesting Department: Community Development
Commission Meeting Date: 03/08/2007 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: ALLAPATTAH BUSINESS DEVELOPMENT AUTHORITY, INC. - RALPH PLAZA II.
Purpose of Item:
AUTHORIZING THE CITY MANAGER TO GRANT ALLAPATTAH BUSINESS DEVELOPMENT
AUTHORITY, INC. AN EXTENSION OF SIXTY DAYS AFTER CLOSING TO PAY OFF THE
$500,000 LOAN APPROVED BY THE HOUSING AND COMMERCIAL LOAN COMMITTEE FOR
THE RALPH PLAZA II PROJECT; AUTHORIZING THE CITY MANAGER TO EXECUTE ALL
NECESSARY DOCUMENT(S) FOR SAID PURPOSE
Background Information:
On April 28, 2006, the Housing and Commercial Loan Committee, approved the allocation of
$500,000 of State Housing Initiatives Partnerships Program (SHIP) funds to Allapattah Business
Development Authority, Inc. for the Ralph Plaza II project
The terms of the loan required payment of $16,666 per client and that the loan be paid off at time of
closing
The Administration is recommending extending the date of pay off to sixty days after the closing date
CIP
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?
Final Approvals
(SIGN AND DATE)
Budget
f.using or rcceiving capital funds
Gr:.:..� Risk Management
Purchasing Dept. Director
Chief City Manager
SUBMITTED INTO THE
PUBLIC RECORD FOR
ITEMjON
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