HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID:
Date: 4/92007
pocW
Requesting Department: Community Development
Commission Meeting Date: 04/12/2007 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: ALLOCATING FUNDS TO SEVERAL COMMUNITY DEVELOPMENT PROGRAMS
Purpose of Item:
A RESOLUTION OF THE MIAMI CITY COMMISSION, AUTHORIZING THE ALLOCATION OF
HOME FUNDS, IN THE AMOUNT OF $4,602,609.00, SHIP FUNDS IN THE AMOUNT OF
1,900,000.00, AFFORDABLE HOUSING TRUST FUNDS, IN THE AMOUNT OF $8,600,000.00,
AND REALLOCATION IN THE AMOUNT OF $1,400,000.00, FOR A TOTAL AMOUNT OF
16,502,629, ALLOCATING SAID FUNDS TO SEVERAL DEPARTMENT OF COMMUNTIY
DEVELOPMENT PROGRAMS.
Background Information:
The allocation of HOME funds, in the amount of $4,602,609.00, SHIP funds in the amount of
1,900,000.00, Affordable Housing Trust funds, in the amount of $8,600,000.00, and Reallocation in
the amount of $1,400,000.00, for a total amount of 16,502,629.
Allocating said funds 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
3Budget 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?
CIP
If.using or receiving capital funds
Final Approvals
(SIGN AND DATE
Budget
Risk Management
Purchasing Dept. Director
Chief - City Manager
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