HomeMy WebLinkAboutPreLegislationCity of Miami
Legislation
Resolution: R-05-0099
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 05-00112 Final Action Date: 2/10/2005
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH
ATTACHMENT(S), ADOPTING THE 31 ST YEAR COMMUNITY DEVELOPMENT
BLOCK GRANT PROGRAM FUND POLICIES, ATTACHED AND INCORPORATED,
RELATED TO PUBLIC SERVICE, ECONOMIC DEVELOPMENT, HOUSING
ACTIVITIES AND THE HOUSING OPPORTUNITIES FOR PERSONS WITH AIDS
PROGRAM FUNDS.
WHEREAS, the Administration has proposed the 31st Year Community Development Block Grant
("CDBG") program fund policies, attached and incorporated, related to public service, economic
development, housing activities and the Housing Opportunities for Persons with AIDS
(HOPWA")program funds;
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 31st year CDBG program fund policies, attached and incorporated, related to public
service, economic development, housing activities and the HOPWA program funds, are
adopted.
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.
"tkis a eay1!slit %.S 6?..eb—
PUBLI C SERVICES PROGRAM POLICIES S h ° r �y�t� 6zcu�
�te t7 f '7 vCS K I?14!,-)
PUBLIC SERVICES
EXISTING
PROPOSED
FUND DISTRIBUTION
BY DISTRICT
Allocated based on Contribution to
Entitlement:
District 1 — 21.2 %
District 2 —15.2 %
District 3 — 23.9 %
District 4 — 16.1 %
District 5 - 23.6 %
Allocated based on Contribution to
Entitlement:
District 1— 21.2 %
District 2 —15.2 %
District 3 — 23.9 %
District 4 — 16.1 %
District 5 - 23.6 %
ELIGIBLEE
APPLICANTS
Private non-profit CDCs, CBOs carrying
out activities benefiting UM income
persons.
Private non-profit CDCs, CBOs carrying out
activities benefiting UM income persons.
MINIMUM CONTRACT
$5,000.00
$10,000.00
ELDERLY MEALS
Requirements:
Requirements:
a) Minimum age — 62 years or
disabled if less than 62 years of
age
b) Resident of the District funding the
activity
c) a UM income person
d) Participant must be certified by the
agency with the City of Miami
a) Minimum age — 62 years or disabled
if less than 62 years of age
b) Resident of the District funding the
activity
c) a LIM income person
d) Participant must be certified by the
agency with the City of Miami
Reimbursed amounts:
Reimbursed umouni
a) Congregate Meal - $5.00 per day
per person
b) Homebound Meal - $7.25 per day
per person
Higher rates would be accepted if copy
of existing contract .from a funding
agency is provided.
a) Congregate Meal - $5.00 per day per
person
b) Homebound Meal - $6.50 per day per
person
Higher rates would be accepted if copy of
existing contract from a funding agency is
provided.
' CHILD CARE
Requirements:
Requirements:
a) Minimum age — infant
b) Maximum Age— S years of age
c) Resident of the District funding the
activity
d) a L/M income person
e) Participant must be certified by the'
agency with the City of Miami
a) Minimum age — infant
b) Maximum Age — 5 years of age
c) Resident of the District funding the
activity
d) a UM income person
e) Participant must be certified by the
agency with the City of Miami
Reimbursement:
R imbursernentt
Paid according to the following rates:
Infants - $22.00/day
Toddler I (1-2 years of age)
$18.00/day
Toddler II (2-3 years of age)
$17.00/day;
Pre-schooler (3-4 years of age)
$17.00/day;
Pre-schooler II (4-S years of age)
$18.00/day.
Paid according to the following rates:
Infants - $22.00/day
Toddler I (1-2 years of age)
$18.00/day
Toddler II (2-3 years of age)
$17.00/day,
Pre-schooler (3-4 years of age)
$17.00/day;
Pre-schooler II (4-5 years of age)
$18.00/day.
doCwytg44-f. 4 acbls1'-fi
b11.14 (If . ais42/
PUBLIC SERVICES PROGRAM POLICIES 0 t/ ba i;,704 o./
PUBLIC SERVICES
Al,'1ER SCHOOL AND
SCHOOL RECESS DAYS
CARE
EXISTING
Retuirements:
a) Minimum age — 6 years of age
b) Maximum Age —18 years of age
c) Resident of the District funding the
activity
d) a UM income person
e) Participant must be certified by the
agency with the City of Miami
PROPOSED
Requirements:
a) Minimum age — 6 years of age
b) Maximum Age — 15 years of age
c) Resident of the. District funding the
activity
d) a UM income person
e) Participant must be certified by the
agency with the City of Miami
f) Agency must should operate the
program at a City of Miami Park
but 211ow some level of flexibility at
time of atnitcation.
Reimbursed amounts:
a) After School Care - $7.70 per day per
student (minimum 2.5 hours)
b) School Recess and Summer Day Rates
- $18.00 per day per student
(minimum 7 hours)
Higher rates would be accepted if:
a) copy of existing contract from a
funding agency is provided, or
b) rational and budget presented is
approved by CD staff
Reimbursed amounts:
a) After School Care • $7.70 per day
per student (minimum 2.5 hours)
b) School Recess and Summer Day
Rates - $18.00 per day per student
(minimum 7 hours)
Higher rates would be accepted if:
a) copy of existing contract from a
funding agency is provided, or
b) rational and budget presented is
approved by CD staff
PERSONS WITH
DEVELOPMENTAL
DISABILITIES
Requirements:
a) Proof of developmental disability
b) Resident of the District funding the
activity
c) a UM income person
d) Participant must be certified by the
agency with the City of Miami
Reimbursed amounts:
Negotiated with the agency based on the
number of participants, number of service
days and number of hours that participant is
serviced on a daily basis.
Requirements:
a) Proof of developmental disability
b) Resident of the District funding the
activity
c) a UM income person
d) Participant must be certified by the
agency with the City of Miami
Reimbursed amounts;
Will be paid according to the maximum daily
reimbursement rates established by South
Florida Workforce or State of Florida for the
City of Miami service area.
Or, negotiated with the agency based on
rationale and budget presented by agency.
•
PUBLIC SERVICES PROGRAM POLICIES
�,gs r•>'77' )
BLIC SERVICES
EXISTING
PROPOSED
F ' DISTRIBUTION
BY D TRICT
ELIGIBLEE
APPLICANTS
MINIMUM CONT •• CT
ELDERLY MEALS
CHILD CARE
Allocated based on Contribution to
Entitlement:
District 1- 212 %
District 2 -15.2 %
District 3 - 23.9 %
District 4 -16.1 %
District 5 - 23.6 %
Private non-profit CDCa, CBOs carrying
out activities benefiting L/M income
persons,
$5,000.00
Reeulrementat
- -a)--Minimum age - 62 years or
disabled if leas than 62 years of
age
b) Resident of the District funding the
activity
c) a UM income person- '•"
Participant must be certified by the
agency with the City of Miami
J elmb d amogntn
�'•ngregate Meal - $5.00 per day
pa . non •
Ho bound Meal - $7.25 per day
Per Po . on
Higher rates ould 'be accepted if copy
of existing ntract from a funding
agency la provi. •.
a)
b)
Renuirtmepjft
a) Minimum age nfant
b) MaximumAge-- -years of age
c) Resident of' the Diaict funding the
activity
d) a L/M income person
a) Participant must be certi d by the
agency with the City of mi
Rel mbursementl
Paid according to the following rates:
Infants - $22.00/day
Toddler I (1-2 years of age
S 18.00/day
Toddler II (2-3 years of age)
S 17.00/day;
Pre-schooler (3-4 years of age)
S 17.00/day;
Pre-schooler II (4-5 years of age)
$18.00/day.
Allocated based on Contribution
Entitlement;
District 1- 21.2 %
District 2 - 15.2 %
District 3 - 23.9 %
District 4 - 16.1 %
District S - 23.6 %
to
Private non-profit CDCs, CBOs carrying out
activities benefiting IJM income persona.
$]0,000.00
Reautrementst
e)_. Minimum age - 62 years or disabled
if lees than 62 years of age
h) Resident of' the District funding the
activity
c) a L/M income person
d) Participant must be certified by the
agency with the City of Miami
Reimbursed amounts,
a) Congregate Meal - $5.00 per day par
person
b) Homebound Meal • $6,50 per day per
person
Higher rates would be accepted if copy of
existing contract from a funding agency is
provided.
Acquirements:
a) Minimum ago - infant
b) N4sxl-trium Age 5 years of age
c) Resident of the District funding ale
activity
d) a L/M income person
a) Participant must be certified by die
agency with the City of Miami
Belmkursement:
Paid according to the following rates:
Infanta - $22.00/day
Toddler I (1-2 years of age)
S 18.00/day
Toddler II. (2-3 years of age)
$17.00/day;
Pre-schooler (3-4 years . of ag»)
17.00/day;
-schooler II (4-5 years of ago)
$1. 00/da
PUBLIC SERVICES PROGRAM POLICIES
P BLIC SERVICES
EXISTING
PROPOSED
A ' R SCHOOL AND
SCH s 4 L RECESS DAYS
CARE
)teguiremettst
Requirements;
a) Minimum age - 6 years of age
b) Maximum Age —18 years of age
c) Resident of the District funding the
activity
d) a LIM income person
e) Participant must be certified by the
agency with the City of Miami
a) Minimum age— 6 years of age
b) Maximum Ago -15 years of age
c) Resident of the District funding ;the
activity
d) a UM income person
a) Participant must be certified by ;the
agency with the City of Miami
1) Agency must operate the program at
a City of Miami Park
Reimbursed amounts;
Reimbursed amounts;
a) After School Care - $7.70 per day
per student (minimum 2.5 hours)
b) School Recess and Summer Day
Rates • 818.00 per day per student
(minimum 7 hours)
Higher tes would be accepted if:
a) •.y of existing contract from a
to ing agency b provided, or
b) ratio • 1 and budget presented is
approv-• by CD staff
a) After School Cara - 87.70 per day per
student (minimum 2.5 hours)
b) School Recess and Summer Day Rates
- $18.00 per day per student
(minimum 7 hours)
Higher rates would be accepted if:
a) copy of existing contract from a
funding agency is provided, or ; .
b) rational and budget presented is
approved by CD staff
PERSONS WITH
DEVELOPMENTAL
DISABILITIES
Requirements;
J esruirements;
a) Proof of developmental disability
b) Resident of the District ibnding +the
activity
c) a UM income person
d) Participant must be certified by !the
agency with the City of Miami
a) Proof of de lopmental disability
b) Resident of - District funding the
activity
c) a UM income pe on
d) Participant must be ertified by the
agency with the City • Miami
RetJBbuted smounta:
Negotiated with the agency bas - • on the
number of participants, number o service
days and number of hours that partici nt is
serviced on a daily basis.
Reimbursed amounts;
Will be paid according to the maximum daily
reimbursement rates established by Sduth
Florida Workforce or State of Florida for the
City of Miami service area.
Or, negotiated with the agency based ; ort
rationale and budget presented by agency.
ECONOMIC DEVELOPMENT PROGRAM POLICIES
ECONOMIC
DEVELOPMENT
EXISTING
PROPOSED
FUND
DISTRIBUTION BY
DISTRICT
Allocated based on Contribution to
Entitlement:
District 1 — 21.2 %
District 2 —13.2 %
District 3 — 23.9 %
District 4 — 16.1 %
District S - 23.6 %
Allocated based on proposals received.
ELIGIBLEE
APPLICANTS
Private non-profit CDCs, CBOs and private
for -profit companies arc eligible to apply for
funding under the Economic Development
Program for activities that benefit underserved
areas and/or very low-, low- and moderate-
income persons
Private non-profit CDCs, CEOs and private for -
profit companies are eligible to apply for
funding under the Economic Development
Program for activities that benefit underserved
areas and/or very' low-, low- and moderate -
income persons
MINIMUM
CONTRACT
$20,000.00
.._ ....... __
$50,000.00
COMMERCIAL .
FACADE PROGRAM
Maximum Project Dollar Amount -
$10,000.00- - _- __. _... _. __..
Maximum Project Dollar Amount - $10,000.00
Matching Funds Requiremenj for Individual
Matching Fund eg irement forindividual
Businesses:
Businesses:
$2,000 and below - 5%
$2,001 -$5,000 -10 %
$5,00I-$10,000 - 15 %
Matching_Fu.nds Requirement for Commercial
$2,000 and below - 5%
$2,001 -$5,000 -10 Rio
$5,001-$10,000 - 15 % •
* Agency has the authority to request a 15%
match at any level, if project warrants it.
Matching Funds Requirement or Commercial
B ps (rninimgrn I city block)
Strips (minimum 1 city block)
$2,000and below - 0%
$2,000 abd below - 0%
$2,00I7-$3;O0D = 1-0 %
$5,001-$10,000 - 15 %
* Agency has the authority to request a 15%
match at any level, if project warrants it.
$2,001 -$5,000 - 10 %
$5,001-$10,000 - 15 %
Business must be locate in an area where the
LJM income population is 51% or greater.
Business must be locate in an area where the
UM income population is 51% or greater."
Compensation.,
C9mpensation:
Agency compensated at rate of 20% of Total
Project Costs.
Agency compensated at rate of 20% of Total
Project Costs.
COMMERCIAL
CODE COMPLIANCE
PROGRAM
Maximum Project Dollar Amount -
$10,000.00
Maximum Project Dollar Amount -
$15,000.00
Matching Funds Requirement for Individual
Matching Funds Reauirement for Individual
Businesses:
Businesses.,
30% of Project value up to $10,000.00
$2,000 and below - 5%
$2,001 -$5,000 - 10 %
$5,001-$15,000 - 15 %
Requirements: Business must be locate in an
Requirements-, Business must be locate in an
area where the L/M income population is 51% or
greater and must have received a Notice of
Violation from Code Enforcement Inspectors.
arca where the L/M income population is 51%
or greater and must have received a Notice of
Violation from Code Enforcement Inspectors.
Compensation*,
Compensation;
A nn,1nV f•nTMTaafowl at <at. of'MCA of Tntal
A ornev cmmnencaterl at raft. r 9noi nr•r„...1
ECONOMIC DEVELOPMENT PROGRAM POLICIES
TECHNICAL
ASSISTANCE TO
FOR PROFIT
BUSINESSES
Requirements;
Regeirement;;j
a)Job Creation only
b)For Profit business operating in the City of
Miami;
c)business must possess valid Certificate of
Use and Occupational License;
d)jobs must be created within 6 months of
completion of the Technical Assistance to
the business
a)Job Creation only
b)For Profit business operating in the City of
Miami;
c)business must possess valid Certificate of
Use and Occupational License;
d)jobs must be created within 6 months of
completion of the Technical Assistance to th.c
business
Compensation to the Agency:
Compensation to the Agency;
a) Reimbursements will be made upon
presentation of, both, a request for payment
based on the verifiable hours of service
related to technical assistance and
documentation that a national objective has
been attained.
b) Verifiable hours of service related to
technical assistance are those hours of
service provided by the agency that can be
substantiated by the payroll records and
which are reasonable, necessary and
directly allocable to the business receiving
the technical assistance from the agency. .
Hours of service must be reported in the
monthly report and must be documented by
the agency.
c) Payments will be made at the rate of
$75.00 per hour. The accomplishment of
a)Reimbursements will be made upon
presentation of, both, a request for payment
based on the verifiable hours of service
related to technical assistance and
documentation that a national objective' has
been attained.
b)Verifiable hours of service related to
technical assistance are those hours of service
provided by the agency that can be
substantiated by the payroll records and
which are reasonable, necessary and directly
allocable to the business receiving the
technical assistance from the agency. Hours
of service must be reported in the monthly
report and must be documented by the
agency.
c) Payments will be made at the rate of
$75.00 per hour. The accomplishment of
_
_
one National Objective (one job created for
a low and moderate income person) will
_ provide the agency with a maximum of
;5,000.00 of Justifiable reimbursement.
one National Objective (one job created for a
low and moderate income person) will
provide the agency with a maximum of
$5,000.00 of Justifiable reimbursement.
ECONOMIC DEVELOPMENT PROGRAM POLICIES
COMMERCIAL
LOAN PROGRAM
NONE
Applicants:
For profit enterprises requiring working capital.
NONE
Loan Amounts:
Minimum - $15,000,00
Maximum - $751000.00
NONE
Requirements;
I. Business entity must be located in the City
of Miami
2. Business and/or Principals are not able to
obtain financing without government
participation through direct or guaranteed
loan programs
3. Business is an equal opportunity employer
4. Business is not relocating jobs
5. Goan must receive environmental clearance
by the City of Miami
6, Business receiving the loan must create
jobs at a ration of I job for every $15,000
loaned
7. A minimum of 51 % of jobs to be created
are to be made available to Low to
Moderate income persons
8. Underwriting may be done by City of
Miami staff or agencies contracted by the
City of Miami to perform underwriting of
loans
9. Business must demonstrate ability to repay
the loan
10. Loan must be approved by the City's
Housing and Commercial Loan Committee:
NONE
Repayment Terms:
Maximum length — 5 years
NONE
Interest Rates:
Interest Rate — market rate, which will be
reduced to 0 % once the documentation of jobs
created is received and accepted by the City of
Miami
City of Miami
Department of Community Development
Housing Program Summary
MULTIFAMILY NEW CONSTRUCTION • RENTAL
Current Policy {effective 10/01/2004) f Proposed Policy (Effective 10/01/2005
Project Description
Affordable new construction rental opportunities in condominiunVtownhome style developments
Funding
HOME SHIP_,CDBG
No Change
Repayment
Requirements
Forgivable Loan converted to second
mortgages for the buyers once project is
completed. In the case of a Developer
default (incomplete project) hull payment of
construction ban and accrued default
interest of 6%.
completed. The construction loan will be
converted to a permanent mortosoe on the
property once protect Is comoleted, In the case
of a Developer default (Incomplete project) full
payment of construction lion loan and accrued
default interest of 20%. Payment schedule will
De based accordina to the protect's cash lbw.
Minimum/Maximum
Subsidy
51,000 per unit to HUD Maximum subsidy
cap based on bedroom size (up to 585,225
for a 4 bedroom unit)
No Change
Affordability Period
20 years
30 years
Developer Fee
Up to 25% of the allowable 18% of total
project costs based on percentage of
project completion
No Change
Service Fee
1 % of City Loan due and payable as
administration fee 30 days after funding
approval.
No Change
Minimum ratio of City
funds to other funds in
the project
1:5
No Change
Type of Assistance Construction hard costs, pre -development cost and other soft costs
Priority Priority and preference for projects in Neighborhood Development Zones or Model Blocks
Clientele 80% and below of Area Median Income
Selection Process Request for Applications and or Proposals. Selections based on rankings and merits of the appitcatbn
City of Miami
Department of Community Development
Housing Program Summery
MULTIFAMILY NEW CONSTRUCTION - RENTAL
Current Policy (effective 10/01/2004) I Proposed Policy (Effective 10/01120• •
Project Description
Affordable new construction rental opportunities In condominlumflownhome style
developments
Funding
HOME, SHIP, CDBG
No Change
Repayment
Requirements
orgivabie Loan converted to second
m • gages for the buyers once project is
corn eted. In the case of a Developer
defau incomplete project) full payment
of cons , on loan and accrued default
Interest of . .
Forgivable Loan conve - . to second
mortgages for the bu once project is
completed. In the se of a Developer
default (Incompl, project) full payment
of cons • ,• n and accrued default
Interest of 2, .
Minimum/Maximum
Subsidy
$1,000 per uni o HUD Maximum subsidy
cap based on be. • • m size (up to
$85,225 fore 4 be• •• •m unit)
No Change
Affordability Period
20 year
30 years
Developer Fee
Up to 25% of the allowable • 8% of to
project costs based on perce : ge •
project completion
No Change
Service Fee
1% of City Loan due and pay
administration fee 30 days = =r fu •r • .
approval.
No Change
Minimum ratio of City
funds to other funds In
the project
:5
No Change
Type of Assistance
Priority
Clientele
Selection Process
Constructto and costs, pro -development cost and o soft costs
Priority a preference for projects In Neighborhood Dev • potent Zones or Modal Blocks
BO% a below of Area Median Income
Reg • • at for Applications and or Proposals. Selections based rankings and merits of the
City of Miami
Department of Community Development
Housing Program Summary
MULTIFAMILY NEW CONSTRUCTION - HOMEOWNERSHIP
Current Policy (effective 10/01/2004) [ Proposed Policy (Effective 10/01/2005
Project Description
Affordable new construction homeownership opportunities on both scattered sites and
condominium/town home style developments
•
Funding
SHIP, HOME, CDBG
No Change
Repayment
Requirements
Forgivable Loan converted to second
mortgages for the buyers once project is
completed. In the case of a Developer
default (incompleteproject)full of
pl paymenta
construction loan and accrued default
Interest of 6%.
completed. The loan will be transferred to
" -- " "
over as a secon�moitQaae once
protect Is completed, In the case of a
Developer default (Incomplete project) full
payment of construction loan and accrued
default Interest of 20%.
-Minimum/Maximum
Subsidy
1t000 per wilt to"HUD Maximum subsidy
cap based on bedroom size (up to $85,225
_for a 4 bedroom_unit)_..__ . .
•
No Change
Affordability Period
20 Years
30 Years
Developer Fee
Op 1o1b% of total project costs.
Disbursements based on percentage of
nmiraM. enmninrinn
No Change
Service Fee
1% of City Loan due and payable as good
faith commitment fee for for -profit
developers, 30 days after funding approval
to be reimbursed once the project Is
complete.
No Change
Minimum ratio of City
funds to other funds
in the project
12
-
No Change
Type of Assistance
Priority
Clientele
Selection Process
Construction hard costs, pre -development cost and other soft costs
Priority and preference for projects In Neighborhood Development Zones or Model Blocks
805E and below of Area Median Income
Request for Applications and or Proposals. Selections based on rankings and merits of the application
City of Miami
Department of Community Development
Housing Program Summary
MULTIFAMILY NEW CONSTRUCTION • HOMEOWNERSHIP
Current Policy (effective 10/0112004) J Proposed Policy (Effective 10/01/2006
Project Descrtpt • .
Affordable new construction homeownership opportunities on both scattered altos and
condominium/town home style developments
Funding
SHIP, HOME, CDBO
No Change
Repayment
Requirements
•rgivable Loan converted to second
• •rages for the buyers once project is
com • ted. In the case of a Developer
default complete project) full payment of
construct loan and accrued default
Interest of 8' -•
Forgivable Loan converted to , : end
mortgages for the buyers on project is
completed. In the case of • eveloper
default (Incomplete pro) ..) full payment of
construction loan an ccrued default
interest of 20%.
Minimum/Maximum
Subsidy
31,000 per unit to • UD Maximum subsidy
cap based on bedro• • size (up to $85,225
fore 4 bedroom unit)
No Change
Affordability Period
20 Years
30 Years
Developer Fee
Up to113% of total project coo •-.
Disbursements based on pence . • e of
ernlsct ersnnIntlnn
No Change
Service Fee
1% of City Loan due end payable as g•
faith commitment fee for for -profit
developers, 30 days after funding ar •roval
to be reimbursed once the proje
complete.
No Change
Minimum ratio of City
funds to other funds
in the project
1:2
No Change
Type of Assistance
Priority
Clientele
Selection Process
Construction hard •• ats, pre -development cost and other soft
Priority and • , rence for projects in Neighborhood Development Zo a or Model Blocks
80% and of Area Median income
Request .r Applications and or Proposals. Selections based on rankings a • merits of the application
Department of Community Development
Housing Program Summary
SINGLE FAMILY REHABILITATION
Current Policy (effective 10/01/2004)
Proposed Policy (Effective 10/01/2005
Protect Description
To provide home improvement and rehabilitation assistance to homeowners
throughout the City In order to maintain the housing stock by assisting with
deferred maintenance, emergency repairs, removal of code violations an
replacement of unsafe structures.
Funding
HOME, SHIP, CDBG
No Change
Repayment Requirements
__Forgivable after_1.0 years.of owner-_ _
occupied or If not met, repayment In
full.
Forgivable after 15 years of owner
occupied or If not met, repayment In full.
Minimum/Maximum Subsidy
$1,000 / $30,000 per home
$1,000 ! $3b,000 per home
Affordability Period
10 Years
15 Years
Developer Fee
NIA
N/A-- -
Service Charge
NIA
N/A
Minimum ratio of City funds to
other funds In the project
N/A
N/A
Type of Assistance
Construction rehab coats - paid
directly to contractor with
homeowners signing offon all
payment requests
No Change
Maximum Purchase
PriceNaiue of Property
New Homes: $199,117; Existing
Homes: $173,701
New Homes and Existing homes:
5236,000
Priority
Clientele
Selection Process
Priority and preference for properties in Neighborhood Development Zones or Model Blocks
80% and below of Ares Median Income, priority in the rehab program for elderly homeowners
Request for Applications advertised In local newspapers and processed on first -come first served basis.
City of Miami
Department of Community Development
Housing Program Summary
SINGLE FAMILY HOMEOWNERSHIP
Current Policy (effective 10/01t2004) I Proposed Policy (Effective 10/01/2005
Project Description
To assist low Income homebuyers In the purchase of a home by providing clown
payment, dosing costs and/or second mortgage ?Mandel ass►stance for the
purchase of a newly constructed or existing residential property within the City.
Funding
HOME, SHIP, COSG
No Change
Repayment Requirements
Forgivable until affordability period of
20 years is met or If not met,
repayment In full
Non -forgivable loan for an affordability
period of 30 years. Full principal
repayment of loan upon transfer of
property, non -occupancy or et term of
loan.
Minimum/Maximum Subsidy
$1,000 per unit to HUD Maximum
subsidy cap based on bedroom size
(up to $88,228 for a 4 bedroom unit)
No Change
Affordability Period
20 Years
30 Years
Developer Fee
NIA
NIA
Service Charge
N/A
N/A
Minimum ratio of City funds to
other funds in the project
N/A
N/A
Type of Assistance
Down Payment assistance and dosing
costa
No Change
Maximum Purchase
PriceNalue of Property
New Homes: S189,117; Exisllnp
Homes: *173,701
New Homes and Existing homes:
$230,000
Priority
Clientele
Selection Process
Priority and preference for properties in Neighborhood Development Zones or Model Blocks
80% and below of Area Median Income, priority In the rehab program for elderly homeowners
Request for Applications advertised in local newspapers and processed on first -come first served basis.