HomeMy WebLinkAboutMemo 3\rr
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO :
Members of the Housing and
Commercial Loan Committee
FROM : Barbara Gomez -Rodriguez, Di
Department of Community Deve �• nt
T:.
SUBJ: T:
REFERENCES:
ENCLOSURES: /L
January 21, 2005
CODEC, Inc.
La Palma
FILE :
BACKGROUND
On September 17, 2004, the Housing and Commercial Loan Committee approved the allocation of
$479,660 in Community Development Block Grant (CDBG) funds for the development of La
Palma Apartments, a ninety-one (91) unit Section 202 senior housing project located at 1040 SW
1 S` Street. The funding was approved for construction costs.
STAFF RECOMMENDATION
Staff is requesting that a total of $479,660 from the original $479,660 in CDBG funding be
substituted with HOME Investment Partnerships (HOME) Program Funds. In addition, a total of
$7,553 from its original CDBG funds approved on October 24, 2003, ($261,340) be substituted
with HOME funds. The use of the funds will remain the same (construction costs). The
substitution of CDBG funds with HOME funds will make funding available for projects in
immediate need of CDBG funding.
HOUSING AND COMMERCIAL LOAN COMMITTEE DECISION:
Approved as Recommended by Staff
To Include Additional Conditions or Restrictions
Disapproved
To Include Further Action
Specify any further action, conditions or restrictions:
ethi-a-7iL4-C rk h C ,O -A4-t
C . irperson or Representative
Yes( No I N/A n
Yes No 7 N/A n
Yes No n N/A n
YesUNoI (N/An
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W.:1'..tqiNG LOAN COMMI' TEE
APPROVED