HomeMy WebLinkAboutSummary FormDate: 06/12/08
AGENDA ITEM SUMMARY FORM
FILE ID: 6 6-00725
Requesting Department: Community Development
Commission Meeting Date: 07/10/08 District Impacted:
Type: ® Resolution ❑ Ordinance Emergency Ordinance Discussion Item
❑ Other
Subject: De -obligating funds from Downtown Miami Partnership, Inc.
Purpose of Item:
AUTHORIZING THE DE -OBLIGATION OF COMMUNITY DEVELOPMENT BLOCK GRANT
("CDBG") FUNDS, IN THE TOTAL AMOUNT OF $419,937.85, FROM DOWNTOWN MIAMI
PARTNERSHIP, INC.; ALLOCATING SAID FUNDS TO THE CITY OF MIAMI DEPARTMENT OF
COMMUNITY DEVELOPMENT DISTRICT 2 ECONOMIC DEVELOPMENT RESERVE.
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:
Dept. Director
Chief }�� (j.,� U/ City Manager,
Final Approvals
(SIGN AND DATE)
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No. 05-0684, adopted on November 17, 2005, the Miami City Commission
approved the transfer of Community Development Block Grant ("CDBG") funds, in the amount of
$500,000, to Downtown Miami Partnership, Inc. ("DMP") for construction costs associated with the
rehabilitation of building exteriors as part of an Urban Neighborhood Job Creation Program in District
2.
DMP has successfully rehabilitated the building located at 1035 N. Miami Avenue, Miami, Florida, at
a cost of $80,062.15.
On November 29, 2007, the Department of Community Development received a letter form DMP
stating that they were no longer rehabilitating buildings in district 2 due to circumstances beyond their
control and that the remaining balance of the allocated funding is not needed.
The Administration recommends the de -obligation of CDBG funds, in the amount of $419,937.85,
from DMP and the allocation of said funds to the City of Miami Department of Community
Development District 2 Economic Development Reserve, as specified in Exhibit "A", attached and
incorporated.