HomeMy WebLinkAboutSummary FormDate: 02/13/08
AGENDA ITEM SUMMARY FORM
FILE ID: Ot -CO 2240
PH.9
Requesting Department: Community Development
Commission Meeting Date:03/13/08 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: ALLOCATING FUNDS TO RHHED FOR LITTLE HAITI COMMERCIAL REHABILITATION
PROJECT
Purpose of Item:
AUTHORIZING THE DE -OBLIGATION OF FUNDS, IN THE AMOUNT OF $225,315.00,
FROM THE ACCOUNTS LISTED IN EXHIBIT "A", ATTACHED AND INCORPORATED;
ALLOCATING SAID FUNDS TO RAFAEL HERNANDEZ HOUSING. AND ECONOMIC
DEVELOPMENT CORPORATION, INC. ("RHHED"), FOR THE EXTERIOR
REHABILITATION OF FOR -PROFIT BUSINESSES SPECIFIED 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
AND DATE)
Dept. Direct 6 —Z---
Chief City Manager
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
RHHED is a non-profit Florida corporation located at 2400 North Miami Avenue, Miami,
Florida that focuses on community development and empowerment, building affordable
homes in economically depressed areas, improving the appearance of economically
depressed commercial areas and assisting local community entrepreneurial minded
individuals.
The accounts specified in Exhibit "A" are to be closed out because the projects did not
commence or did not utilize all of the funding received.
The Administration recommends de -obligating the unused funds in said accounts and the
reallocation of said funds to RHHED, as specified in Exhibit "A", for the exterior rehabilitation
of for -profit businesses specified in Exhibit "B", a project otherwise referenced as the Little
Haiti Commercial Rehabilitation Project.
$185,815.00 will be used to pay for construction costs and $12,000.00 for soft cost
contingencies to rehabilitate the properties, and the remaining $27,500.00 will be paid to
RHHED for its technical support.