HomeMy WebLinkAboutSummary FormFILE ID: ' 228
PH.9
Date: 10/06/08 Requesting Department: Community Development
Commission Meeting Date: 11/13/08 District Impacted:
Type: Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion item
El Other
Subject: Revised Local Housing Assistance Plan ("LHAP") for July 1, 2007 through June 30, 2010.
Purpose of Item:
APPROVING THE REVISED CITY OF MIAMI ("CITY") LOCAL HOUSING ASSISTANCE PLAN
("LHAP"), ATTACHED AND INCORPORATED, TO INCLUDE THE IMPLEMENTATION OF THE
CITY'S FORECLOSURE PREVENTION PROGRAM AS WELL AS THE AMENDMENT TO THE
FIRST-TIME HOMEBUYER PROGRAM POLICIES, FOR THE PERIOD OF JULY 1, 2007
THROUGH JUNE 30, 2010, FOR THE CONTINUED PARTICIPATION OF THE CITY IN THE
FLORIDA STATE HOUSING INITIATIVES PARTNERSHIP ("SHIP") PROGRAM; AUTHORIZING
THE CITY MANAGER TO SUBMIT THE MODIFIED LHAP FOR REVIEW AND APPROVAL BY THE
FLORIDA HOUSING FINANCE CORPORATION.
Background Information:
Pursuant to Resolution No. 07-0204, adopted April 12, 2007, the Miami City Commission approved
the City of Miami ("City") Local Housing Assistance Plan ("LHAP") for the period of July 1, 2007,
through June 30, 2010, for the continued participation of the City in the Florida State Housing
Initiatives Partnership ("SHIP") Program.
The City is implementing the Foreclosure Prevention Program to assist in the prevention of additional
foreclosures in the City.
The City is amending the First -Time Home Buyer Program to modify the maximum subsidy limits of
said program.
The Administration recommends revising the City's LHAP to include the implementation of the City's
Foreclosure Prevention Program as well as the amendment to the First -Time Home Buyer Program
Policies.
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. Di - c
Chief
Final Approvals
(SIGN AND DATE)
City Manager
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