HomeMy WebLinkAboutR-07-0226City of Miami
Legislation
Resolution: R-07-0226
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00524 Final Action Date: 4/12/2007
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE
ALLOCATION OF HOME INVESTMENT PARTNERSHIP PROGRAM FUNDS, IN
THE AMOUNT OF $4,602,609, STATE HOUSING INITIATIVES PARTNERSHIP
FUNDS IN THE AMOUNT OF 1,900,000, AFFORDABLE HOUSING TRUST FUNDS,
IN THE AMOUNT OF $8,600,000, AND REALLOCATION IN THE AMOUNT OF
$1,400,000, FOR A TOTAL AMOUNT OF $16,502,629; ALLOCATING SAID FUNDS
TO SEVERAL DEPARTMENT OF COMMUNITY DEVELOPMENT PROGRAMS.
WHEREAS, the allocation of Home Investment Partnerships Program ("HOME") funds, in the
amount of $4,602,609, State Housing Initiatives Partnership ("SHIP") funds in the amount of
$1,900,000, Affordable Housing Trust funds, in the amount of $8,600,000, and reallocation in the
amount of $1,400,000, for a total amount of $16,502,629, is being requested; and
WHEREAS, said funds will be allocated to the following Department of Community
Development programs:
1.$4,000,000 - Downpayment Assistance Program
2.$2,000,000 - Single Family Rehab Citywide
3.$4,000,000 - Homeownership Projects
4.$1,000,000 - Multi Family Rental - No Tax Credit
5.$5,502,629 - New Construction Rental - Tax Credit;
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.
Section 2. The allocation of HOME funds, in the amount of $4,602,609, SHIP funds in the amount
of $1,900,000, Affordable Housing Trust funds, in the amount of $8,600,000, and reallocation in the
amount of $1,400,000, for a total amount of $16,502,629, to several Department of Community
Development programs, is approved.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{1}
City of Miami
Page 1 of 2 File Id: 07-00524 (Version: 1) Printed On: 3/27/2017
File Number: 07-00524 Enactment Number: R-07-0226
Footnotes:
{1} 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 File Id: 07-00524 (Version: 1) Printed On: 3/27/2017