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Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 12-01431 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE
TRANSFER OF COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS, IN THE
AMOUNT OF $95,000 FROM THE COCONUT GROVE BUSINESS
IMPROVEMENT DISTRICT; ALLOCATING SAID FUNDS TO THE CITY OF MIAMI
DEPARTMENT OF COMMUNITYAND ECONOMIC DEVELOPMENT, ECONOMIC
DEVELOPMENT LOAN PILOT. PROGRAM FOR AWARDS TO FOR -PROFIT
BUSINESSES LOCATED IN DISTRICT 2 TO RETAIN OR CREATE JOBS FOR
LOW AND MODERATE INCOME PEOPLE IN ACCORDANCE WITH THE
ECONOMIC DEVELOPMENT LOAN PILOT PROGRAM POLICIES; AUTHORIZING
THE CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENTS, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE.
WHEREAS, pursuant to Resolution No. 11-0263, adopted June 23, 2011, the Miami City
Commission approved the allocation of $150,000 to the Coconut Grove Business Improvement District
("Coconut Grove BID") for the Commercial Rehabilitation Job Creation Program to assist qualified
business or property owners with building and property improvements that are directly related to
opening a new business, retaining an existing business and/or remedying code violations to create and
retain job opportunities within the commercial district; and
WHEREAS, Coconut Grove BID has been unable to fully utilize the funds; and
WHEREAS, the Economic Development Loan Pilot Program ("EDLF") is designed to fill the
financing gap between private debt financing and private equity funds and funds are provided to create
economic benefit through increased revenues and the creation and retention of jobs in the City of
Miami ("City"); and
WHEREAS, the City Administration recommends the transfer of Community Development Block
Grant ("CDBG") funds in the amount of $95,000, from the Coconut Grove BID and allocating said
funds to the City's Department of Community and Economic Development, EDLF to assist qualified
businesses to create and/or retain jobs within District 2;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
reference and incorporated as fully set forth in this Section.
Section 2. The transfer of CDBG funds in the amount of $95,000, from the Coconut Grove BID and
the allocation of said funds to the City's Department of Community and Economic Development, EDLF
for awards to for -profit businesses located in District 2 to retain or create jobs for Low and Moderate.
income people in accordance with the EDLF policies, is authorized.
City of Miami
Page 1 of 2 File Id: 12-01431 (Version: 1) Printed On: 12/20/2012
File Number. 12-01431
Section 3. The City Manager is authorized{1} to execute all necessary documents, in a form
acceptable to the City Attorney, for said purpose.
Section 4. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{2}
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
CITY ATTORNEY
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including but not limited to those prescribed by applicable Charter
and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the erid of ten (10)
calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it
shall become effective immediately upon override of the veto by the City Commission.
City of Miami
Page 2 of 2 File Id: 12-01431 (Version: 1) Printed On: 12/20/2012