HomeMy WebLinkAboutSummary FormDate: 05/11/2012
AGENDA ITEM SUMMARY FORM
FILE ID: I, - o D54S"
Law Department
Matter ID No.
Requesting Department: Community Development
Commission Meeting Date: 05/24/2012 District Impacted: 1 '
Type: ® Resolution. ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: ALLOCATION OF COMMUNITY DEVELOPMENT BLOCK GRANT RESERVE
ACCOUNT FUNDS TO ALLAPATTAH BUSINESS DEVELOPMENT AUTHORITY, INC. •
Purpose of Item:
AUTHORIZING THE ALLOCATION OF ADDITIONAL. COMMUNITY DEVELOPMENT BLOCK GRANT
("CDBG") FUNDS TO ALLAPATTAH BUSINESS DEVELOPMENT AUTHORITY, INC. (°ABDA") IN THE
AMOUNT OF $15,000 IN SOFT COST AND $75,000 IN HARD COST TO COMMUNITY
DEVELOPMENT FACADE CONSTRUCTION RESERVE FROM THE DISTRICT 1 ECONOMIC
DEVELOPMENT RESERVE ACCOUNT, FOR ECONOMIC DEVELOPMENT ACTIVITIES ASSOCIATED
WITH TECHNICAL ASSISTANCE TO COMMERCIAL FACADE AND COMMERCIAL REHABILITATION
PROJECTS IN DISTRICT 1; AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY
DOCUMENTS FOR SAID PURPOSE.
Background Information:
Please see attached
NO
YES
NO
Budget Impact Analysis
Is this item related to revenue?
Is this item an expenditure?. If so, please identify funding source below.
General Account No: F..`t•
Special Revenue Account No: t.tay CIP Project No: 1`Y
Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: 72(,,LOD
CIP A
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Grants •
Final Approvals
(SIGN AND DATE).
Budget
Risk Management
Dept. Director
City Manager /)
Purchasin
Page 1 of 1
1
AGENDA ITEM SU VEVIARY FORM CONTINUED
• Background Information:
Pursuant to Resolution No. R-12-0060, adopted February 23, 2012, the Miami City Commission
authorized 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, for economic
development activities.
ABDA provides assistance to businesses in low and moderate income communities for technical
assistance to facade improvements.
On•February 23., 2012, ABDA was allocated funds: in the amount of $70,000 for soft cost related to
the facade program.
The District has identified other areas for facade and commercial rehabilitation and has requested
that ABDA extends its services to those areas.
The Administration recommends the allocation of CDBG funds, in the amount of $15,000 for soft cost
and $75,000 for construction hard cost, from the District 1 Economic Development Reserve Account,
to ABDA and the Community Development Department for hard cost, for technical assistance to
commercial facade projects in District 1.