HomeMy WebLinkAboutSummary FormDate: 01/18/2012
AGENDA ITEM SUMMARY FORM
FILE ID: / -POO 7
Law Department
Matter ID No.
Requesting Department: Community Development
Commission Meeting Date: 02/23/2012 District Impacted: 1,2,3,4,5
Type: ® Resolution [] Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: CDBG Funding: Economic Development 2012-2013
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM YEAR 2012-2013, COMMUNITY
DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS, IN THE AMOUNT OF $2,007,716 IN THE
ECONOMIC DEVELOPMENT CATEGORY, TO THE AGENCIES SPECIFIED IN ATTACHMENT
"A," ATTACHED AND INCORPORATED, FOR ECONOMIC DEVELOPMENT ACTIVITIES IN
PROGRAM YEAR 2012-2013; AUTHORIZING THE CITY MANAGER TO EXECUTE
AGREEMENT(S), IN SUBSTANTIALLY THE ATTACHED FORM(S), WITH SAID AGENCIES,
FOR SAID PURPOSE.
Background Information:
Please see attached
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
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 Manageme1
i
Pure ^ j Dept. Director
Chief � i , City. Manager
-i2
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No. 11-0487, adopted December 8, 2011, the Miami City Commission
approved the allocation of CDBG funds in the projected amount of $1,300,000 in the Economic
Development category to the agencies specified in Attachment "A", attached and incorporated and
the projected amount of $2,357,051.40 to the Department of Community Development Economic
Development Reserve Account; for a total projected amount of $3,657,051.40.
On January 18, 2012, the U.S. Department of Housing and Urban Development ("HUD") released the
final Community Planning and Development Program Formula Allocations for FY2012, as such; the
amount of CDBG funds previously recommended has undergone significant reductions which require
Commission approval.
The Administration recommends the allocation of Program Year 2012-2013 CDBG funds, in the
amount of $739,000 in the Economic Development category to the agencies specified in Attachment
"A", attached and incorporated, and the amount of $1,268,716 to the Department of Community
Development Economic Development Reserve Account; for a total amount of $2,007,716, for
economic development activities in Program Year 2012-2013.