HomeMy WebLinkAboutSummary FormDate: 02/13/08
AGENDA ITEM SUMMARY FORM
FILE ID: 0g—O22)
PH.9
Requesting Department: Community Development
Commission Meeting Date:03/13/08 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
Li Other
Subject: Transferring funds to Neighbors and Neighbors Association, Inc.
Purpose of Item:
AUTHORIZING THE TRANSFER OF FUNDS, IN THE AMOUNT OF $250,000.00, FROM
THE CITY OF MIAMI DEPARTMENT OF COMMUNITY DEVELOPMENT DISTRICT 5
BUSINESS CORRIDOR EXPANSION AND REHABILITATION ACCOUNT; ALLOCATING
SAID FUNDS TO NEIGHBORS AND NEIGHBORS ASSOCIATION, INC. ("NANA"), AS
SPECIFIED IN EXHIBIT "A", ATTACHED AND INCORPORATED; TO PROVIDE SPECIAL
ECONOMIC DEVELOPMENT ACTIVITIES FOR THE COMMERCIAL REHABILITATION OF
THE PROPERTIES LEGALLY DESCRIBED IN EXHIBIT "B", ATTACHED AND
INCORPORATED; AUTHORIZING THE CITY MANAGER TO EXECUTE AN AGREEMENT,
IN SUBSTANTIALLY THE ATTACHED FORM, WITH SAID AGENCY 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:
Final Approvals
SIGN AND DATE)
Dept. Direct '—" Z a -or
Chief City Manager
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
NANA is a non-profit Florida corporation located at 180 NW 62nd Street, Miami, Florida whose
mission is to help small businesses in disadvantaged communities by providing technical assistance,
assistance in developing business plans, and submitting grant and loan applications on behalf of
member businesses.
Pursuant to Resolution No. 04-0378, adopted June 10, 2004, the City Commission authorized the
allocation of 30TH year Community Development Block Grant ("CDBG") funds in the amount of
$250,000.00 to the City of Miami Department of Economic Development for economic development
and/or public facilities and improvements activities, specifically to undertake the Martin Luther King
Initiative.
Pursuant to Resolution No. 04-0734, adopted November 18, 2004, the City Commission established
a new special revenue fund entitled: "Dr. Martin Luther King Jr. reclaim the Dream Initiative Fund" to
fund economic development activities along Martin Luther King Jr. Boulevard, in conjunction with
Miami -Dade County.
Pursuant to Resolution No. 05-0682, adopted November 17, 2005, the City Commission authorized
the extension and rollover of accounts of previously approved activities/projects that were not
completed, including the Martin Luther King Boulevard Commercial Facade Improvement Project, to
the 2005-2006 fiscal year.
Pursuant to Resolution No. 07-0264, adopted May 10, 2007, the City Commission, because of a lack
of progress on said project, authorized the transfer of $250,000.00 from the City of Miami
Department of Economic Development to the City of Miami Department of Community Development
District 5 Business Corridor Expansion and Rehabilitation Project account, for the rehabilitation of the
exterior of commercial buildings.
It is in the interest of the City of Miami to rehabilitate the commercial facades in the District 5
business corridor, to correct code violations and make other improvements necessary to improve the
appearance and operation of businesses serving low to moderate income areas.
The commercial properties to be rehabilitated are located in a low to moderate income area.
The participating property owners will be required to secure the rehabilitation grant hard -costs with a
five year covenant filed against the real property title.
The Administration recommends the transfer of funds, in the amount of $250,000.00, from the City of
Miami Department of Community Development District 5 Business Corridor Expansion and
Rehabilitation account, and the allocation of said funds to NANA, as specified in Exhibit "A", to
provide special economic development activities for the commercial rehabilitation of the properties
legally described in Exhibit "B".