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AGENDA ITEM SUMMARY FORM
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Law Department
Matter ID No.
Date: 01/18/2012 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: HOME Funding 2012-2013
Purpose of Item:
AUTHORIZING THE ALLOCATION OF HOME INVESTMENT PARTNERSHIPS PROGRAM
("HOME") FUNDS, IN THE AMOUNT OF $2,948,939, FOR HOUSING PROGRAMS, FOR
PROGRAM YEAR 2012-2013, IN THE CATEGORIES SPECIFIED IN ATTACHMENT "A",
ATTACHED AND INCORPORATED, FOR THE DEVELOPMENT OF AFFORDABLE HOUSING;
AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS FOR SAID
PURPOSES.
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:
CIP
Final Approvals
(SIGN AND DATE)
Budget
If using or receiving capital funds
Grants
Risk Management
Dept. Director
City Manager
Donn 1 ..f 1
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No. 11-0485, adopted December 8, 2011, the Miami City commission
approved the allocation of HOME funds, in the projected amount of $4,409,501, for housing
programs, for Program Year 2012-2013, in the categories specified in Attachment "A", attached and
incorporated, for the development of affordable housing.
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 HOME funds previously recommended has undergone significant reductions requiring a
new public hearing.
The Administration recommends the allocation of HOME funds, in the projected amount of
$2,948,939, for housing programs, for program year 2012-2013, in the categories specified in
Attachment "A", attached and incorporated, for the development of affordable housing.