HomeMy WebLinkAboutsummary formDate: 3/14/2005
AGENDA ITEM SUMMARY FORM
FILE ID: OS 0 0 2$
Requesting Department: Community Development
Commission Meeting Date: 4/14/2005 District Impacted: Citywide
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Authorizing the City Manager to execute a professional services agreement with Micro -
Business USA
Purpose of Item:
The purpose of this item is to authorize the City Manager to execute a professional services agreement
with Micro -Business USA, pursuant to Resolution No. 04-0687, adopted Octobei14, 2004, to provide
administrative services for an Individual Development Account program implemented by the
Department of Community Development for a two year period.
Background Information: _
The Mayor's Poverty Initiative has, as one of its four cornerstones, the goal of helping City of Miami
residents to save and accumulate assets thus allowing its residents the opportunity to reach self
sufficiency. The City wants to leverage federal funds to assist City residents in accumulating and
increasing assets to achieve business ownership, homeownership and increased education. Pursuant
to Resolution 04-0687, the transfer of funds from the Mayor's Poverty Initiative fund, in the amount
of $400,000, to the Department of Community Development to implement an Individual
Development Account program to be administered by Micro -Business USA, which is to be equally
matched by both participant and federal funds and placed in a match savings account, was authorized.
The contract has been successfully negotiated with said agency.
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:
Final Approvals
(SIGN AND DATE)
CIP Budget
If using or receiving capital funds
Grants Risk Management / )
Purchasing Dept. Director
Page 1 of 2
-o
Chief d 4---
City Manager
Page 2 of 2