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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 $75,000 IN HARD COST TO COMMUNITY DEVELOPMENT FACADE CONSTRUCTION RESERVE FROM THE DISTRICT 1 ECONOMIC DEVELOPMENT RESERVE ACCOUNT, FOR ECONOMIC DEVELOPMENT ACTIVITIES ASSOCIATED WITH TECHNICAL ASSISTANCE TO COMMERCIAL FACADE AND COMMERCIAL REHABILITATION PROJECTS IN DISTRICT 1; AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENTS FOR SAID PURPOSE. Background Information: Please see attached NO YES NO Budget Impact Analysis Is this item related to revenue? Is this item an expenditure?. If so, please identify funding source below. General Account No: F..`t• Special Revenue Account No: t.tay CIP Project No: 1`Y Is this item funded by Homeland Defense/Neighborhood Improvement Bonds? Start Up Capital Cost: Maintenance Cost: Total Fiscal Impact: 72(,,LOD CIP A ecaiti ea , 1 A ifusigkfi$Fc{. L.InR�._uilal'fiinas iv 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.