HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: i.2-- co ?ZL
Date: 08/08/2012
Commission Meeting Date: 09/13/2012
Law. Department
Matter'ID No.
Requesting Department: Community Development
District Impacted: 2
Type: ® Resolution Ordinance Emergency Ordinance Discussion Item
E Other
Subject: ALLOCATION OF COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG")
FUNDS TO WYNWOOD ARTS DISTRICT
Purpose of Item:
AUTHORIZING THE ALLOCATION OF COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS
("CDBG")-IN THE AMOUNT OF $60,000 FROM THE DISTRICT 2 ECONOMIC DEVELOPMENT
RESERVE ACCOUNT; ALLOCATING SAID FUNDS TO WYNWOOD ARTS DISTRICT
ASSOCIATION, INC. ("WADA") FOR COMMUNITY ECONOMIC DEVELOPMENT ACTIVITIES,
SPECIFICALLY, THE CREATION OF A BUSINESS IMPROVEMENT DISTRICT ("BID") FOR THE
WYNWOOD DESIGN DISTRICT; AUTHORIZING THE CITY:MANAGER TO EXECUTE.ALL
NECESSARY DOCUMENTS -FOR SAID PURPOSE.
Background Information:
Please see attached
Budget Impact Analysis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No: TO BE DETERMINED
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:. S60,000
CIP
f_ {sing or receiving c.pital and
Grants
Purcha
Chi,
Final Approvals
(SIGN AND DATE)
Budget '
Risk Management
Dept. Director
CityManager
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No.12-0060, adopted February 23, 2012, the Miami City Commission
approved the allocation of Program Year 2012-2013 CDBG funds in the amount of $1,160,716, to the
City of Miami ("City") Economic Development Reserve Account for economic development activities.
WADA is a non-profit Community Based Development Organization ("CBDO") in the Wynwood
Community dedicated to providing economic development opportunities for residents by focusing on
the infrastructure necessary to retain and attract businesses in the Wynwood area.
WADA, through this allocation, will create a BID for the Wynwood Design District, thereby creating a
minimum of 2 jobs as required under 24 CFR 570.209.
The Administration recommends the allocation of CDBG funds in the amount of $60,000 from the
District 2 Economic Development Reserve Account to WADA for Community Development Activities.