HomeMy WebLinkAboutR-08-0390City of Miami
Legislation
Resolution: R-08-0390
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-00723 Final Action Date: 7/10/2008
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE TRANSFER OF FUNDS, IN THE AMOUNT OF $874,483.43,
FROM THE COMMUNITY DEVELOPMENT BLOCK GRANT PREVIOUS YEAR'S
CLOSED OUT FUNDS; ALLOCATING SAID FUNDS TO THE CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT HOUSING RESERVE, TO
PROVIDE ADDITIONAL FUNDING FOR AFFORDABLE HOUSING ACTIVITIES.
WHEREAS, previous year Community Development Block Grant ("CDBG") funds allocated to
various agencies for program administration retain unused balances, in the amount of $874,483.43,
as specified in Exhibit "A," attached and incorporated; and
WHEREAS, the presence of said balance prevents the Department of Community Development
from closing out the activities and reporting the accomplishments to the United States Department of
Housing and Urban Development; and
WHEREAS, the Administration recommends the transfer, in the amount of $874,483.43, from the
CDBG previous year's closed out funds, and the allocation of said funds to the City of Miami
Department of Community Development Housing Reserve, to provide additional funding for
affordable housing activities;
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 transfer of funds, in the amount of $874,483.43, from the CDBG previous year's
closed out funds, and the allocation of said funds to the City of Miami Department of Community
Development Housing Reserve, to provide additional funding for affordable housing activities, is
authorized.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{1}
Footnotes:
{1} 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 1 of 1 File Id: 08-00723 (Version: 11 Printed On: 5/9/2017