HomeMy WebLinkAboutSummary Formloo
AGENDA ITEM SUMMARY FORM
FILE ID: 01- C 1055
PH.9
Date: 7/30/2007
Requesting Department: Community Development
Commission Meeting Date: 9/11/2007 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: TRANSFERRING FUNDS TO DISTRICT 2- ECONOMIC DEVELOPMENT ACTIVITIES
Purpose of Item:
AI� UTHORIZING THE TRANSFER OF FUNDS, IN THE AMOU
NT OF $314,000, FROM THE
DISTRICT 2- ECONOMIC DEVELOPMENT RESERVE (FY'2006-2007), AND THE AMOUNT OF
$574,000 FROM THE DISCTRICT 2-ECONOMIC DEVELOPMENT RESERVE (FY'2007-2008) , IN
THE TOTAL AMOUNT OF $880,000, TO THE AGENCIES SPECIFIED IN "ATTACHMENT A,"
ATTACHED AND INCORPORATED, FOR ECONOMIC DEVELOPMENT ACTIVITIES IN DISTRICT
2 IN THE 33RD PROGRAM YEAR BEGINNING OCTOBER 1, 2007; AUTHORIZING THE CITY
MANAGER TO EXECUTE AGREEMENT(S), IN SUBSTANTIALLY THE ATTACHED FORM(S),
WITH SAID AGENCIES, FOR SAID PURPOSE.
Background Information:
PLEASE SEE ATTACHED
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?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Fin- Approvals
SIG AND D E 1 r
Dept. Direct r14 •e ` � t,
Chief City Manager •-- 1
Page i of 1
AGENDA ITEM SUMMARY FORM CONTINUED
BACKGROUND INFORMATION:
Federal regulations require the City of Miami ("City") to provide an opportunity for citizen
participation in the planning process for the United States Department of Housing and
Urban Development ("U.S. HUD") related grant activities.
On February 18, 2005, a Request for Proposal ("RFP") was issued for agencies to
provide economic development activities for a one-year period with the option to extend
such contract for an additional year, which would be contingent on the availability of
funds, and the agency having met their contractual obligations.
On April 13, 2007, an RFP was issued for the purpose of implementing projects for
Economic Development activities in District 2 and District 5.
On May 11, 2007, District 2 decided to re -open the RFP to receive additional proposals
for Economic Development activities in District 2, and said RFP was available to the
public on May 24, 2007.
Pursuant to Resolution 07-0315, adopted June 12, 2007, the City Commission allocated
a total amount of $3,900,000 in 33`d Program Year Community Development Block Grant
("CDBG') funds to all agencies providing economic development activities, except for
those agencies providing services in District 2, further authorizing that said agencies
would be funded after the District 2 RFP process was complete.
At this time the District 2 RFP process is complete and the agencies listed on
"Attachment A" are being recommended for funding.
The Administration recommends the transfer of funds in the amount of $314,000 from
the District 2- Economic Development Reserve (FY' 2006-2007), and the amount of
$574,000 from the District 2- Economic Development Reserve (FY' 2007-2008) , in the
total amount of $880,000 , to the agencies specified in "Attachment A," attached and
incorporated, for economic development activities in District 2 in the 33rd program year
beginning October 1, 2007.