HomeMy WebLinkAboutSummary FormDate: 11/14/2008
AGENDA ITEM SUMMARY FORM
FILE ID: Off- O t-3 A,7
Requesting Department: Community Development
Commission Meeting Date: 12/11/2008 District Impacted: 1,2,3,4,5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: AMENDING RESOLUTION 03-1245 AND AUTHORIZING THE ALLOCATION OF FUTURE
CDBG PROGRAM INCOME FUNDS.
Purpose of Item:
AMENDING RESOLUTION NO. 03-1245, ADOPTED DECEMBER 18, 2003, AUTHORIZING THE
ALLOCATION OF FUTURE COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG") PROGRAM
INCOME FUNDS TO INCLUDE HOUSING AND ECONOMIC DEVELOPMENT ACTIVITIES AS
DEEMED NECESSARY BY THE CITY MANAGER.
Background Information:
Pursuant to Resolution No. 03-1245, adopted December 18, 2003, the City Commission approved
the allocation of future CDBG Program Income funds to the Single Family programs.
Due to the current glut of housing in the City of Miami as well as the need for economic development
activities in a recessionary environment, the Administration is recommending amending said
resolution authorizing the allocation of future program income funds to include Housing and
Economic Development activities as deemed necessary by the City Manager.
Allocation of Program Income for any Housing and Economic Development activities must be
approved by the Housing and Commercial Loan Committee.
The allocation of all Economic Development activities must be ratified by City Commission.
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:
ClP Project No:
Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Dept. Direc
Chief
Final Approvals
(SIGN AND DATE)
City Manager „)
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