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Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-01133 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE TRANSFER OF COMMUNITY DEVELOPMENT BLOCK GRANT
FUNDS, IN THE AMOUNT OF $49,000, FROM THE CITY OF MIAMI DEPARTMENT
OF COMMUNITY DEVELOPMENT DISTRICT 2 ECONOMIC DEVELOPMENT
RESERVE ACCOUNT; ALLOCATING SAID FUNDS, TO KIDCO CHILD CARE INC.
("KIDCO"), FOR ECONOMIC DEVELOPMENT ACTIVITIES/PUBLIC FACILITIES
AND IMPROVEMENTS FOR THE PROPERTY LOCATED AT 5510 NORTHEAST
2ND AVENUE, MIAMI, FLORIDA; FURTHER AUTHORIZING THE CITY MANAGER
TO EXECUTE AMENDMENT NO. 1 TO THE AGREEMENT, IN SUBSTANTIALLY
THE ATTACHED FORM, WITH SAID AGENCY, FOR SAID PURPOSE.
WHEREAS, on September 11, 2007, the City of Miami ("City") Commission allocated
$300,000, to Kidco Child Care, Inc. ("Kidco") in 33rd year Community Development Block Grant
("CDBG") funding for economic development/public facilities and improvement activities to purchase a
day care facility; and
WHEREAS, Kidco identified the property located at 5510 Northeast 2nd Avenue, Miami,
Florida, and made an offer to purchase said property on or before October 31, 2008; and
WHEREAS, once this purchase transaction is completed, Kidco will need to rehabilitate the
property located at 5510 Northeast 2nd Avenue, Miami, Florida, to be used as a child care facility; and
WHEREAS, pursuant to Resolution No. 08-0308, adopted June 5, 2008, the City Commission
approved the allocation of 34th year CDBG funding, in the amount of $51,546, to Kidco for economic
development/public facilities and improvement activities to rehabilitate the new daycare facility located
at 5510 Northeast 2nd Avenue, Miami, Florida; and
WHEREAS, Kidco's total cost to purchase and rehabilitate the property is estimated to be
$860,000; and
WHEREAS, Kidco has a commitment for a $400,000, loan from NCB Capital Impact, the
amount of $351,546, in CDBG funds from the City and $60,000, in private donations creating a
shortfall of $48,454, to complete this project; and
WHEREAS, the Administration recommends the transfer of CDBG funds from the City of
Miami Department of Community Development District 2 Economic Development Reserve Account in
the amount of $49,000, to Kidco for economic development/public facilities and improvement
activities to rehabilitate a new daycare facility located at 5510 Northeast 2nd Avenue, Miami, Florida;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
City of Miami Page 1 of 2 File Id: 08-01133 (Version: 1) Printed On: 7/18/2024
File Number: 08-01133
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 CDBG funds, in the amount of $49,000, from the City of Miami
Department of Community Development District 2 Economic Development Reserve account, and the
allocation of said funds to Kidco, for economic development/public facilities and improvement
activities to rehabilitate a new daycare facility located at 5510 Northeast 2nd Avenue, Miami, Florida,
is authorized.
Section 3. The City Manager is authorized {1 } to execute a Amendment No. 1 to the
Agreement, in substantially the attached form, with said agency, for said purpose.
Section 4. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor. {2}
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter
and Code provisions.
{2} 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 2 of 2 File Id: 08-01133 (Version: 1) Printed On: 7/18/2024