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Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00687
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE
ACCEPTANCE OF HOME INVESTMENT PARTNERSHIPS PROGRAM FUNDS, IN
THE TOTAL AMOUNT OF $4,602,629, FOR THE 33RD PROGRAM YEAR, FOR
THE DEVELOPMENT OF AFFORDABLE HOUSING; ALLOCATING SAID FUNDS,
IN THE AMOUNT OF $3,142,367, FOR HOUSING PROGRAMS, THE AMOUNT OF
$1,000,000, FOR DOWNPAYMENT ASSISTANCE, AND THE AMOUNT OF
$460,262, FOR THE ADMINISTRATION; AUTHORIZING THE CITY MANAGER TO
EXECUTE THE NECESSARY DOCUMENTS TO IMPLEMENT THE ACCEPTANCE
OF SAID FUNDS.
WHEREAS, it is projected that the HOME Investment Partnership Program ("HOME") funding for
Fiscal Year 2007-2008 is approximately $4,602,629; and
WHEREAS, $1,500,000, of the funds will be used to create the District 1 Homeownership Zone
and will be one of the five awards the District 1 Homeownership Zone receives; and
WHEREAS, the remaining funds will be used according to Resolution No. 07-0226, adopted April
12, 2007,.that allocated funds to the Down Payment Assistance Program, Single Family Rehab
Citywide, Homeownership Projects, Multi Family Rental -No Tax Credit and New Construction -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 acceptance of HOME Program funds, in the amount of $4,602,629, for the 33rd
Program year, for the development of affordable housing, and the allocation of said funds, in the
amount of $3,142,367, for housing programs, the amount of $1,000,000, for downpayment assistance,
and the amount of $460,262, for the administration, is authorized.
Section 3. The City Manager is authorized {1} to execute the necessary documents to implement
the acceptance of said funds.
Section 4. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{2}
City of Miami Page 1 of 2 Prinled On: 5/18/2007
File Number: 07-00687
APPR• ' A TO FORM AN I CORRECTNESS:
JO L. : ' ANDEZ COA
CITY TONEY
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 Printed On: 5/18/2007