HomeMy WebLinkAboutSummary FormDate: 03/06/2013
AGENDA ITEM SUMMARY FORM
FILE ID: 13 - hOc3 aO
Law Department
Matter ID No. ,
Requesting Department: Community Development
Commission Meeting Date: 04/11/2013 District Impacted: 4
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: ALLOCATION OF ECONOMIC DEVELOPMENT LOAN FUND PILOT PROGRAM
FUNDS TO BASCOMB MEMORIAL BROADCASTING FOUNDATION/WDNA 88.9 FM
Purpose of Item:
AUTHORIZING THE ALLOCATION FROM THE CITY OF MIAMI DEPARTMENT OF COMMUNITY
AND ECONOMIC DEVELOPMENT DISTRICT 4 ECONOMIC DEVELOPMENT LOAN FUND ("EDLF")
PILOT PROGRAM FUNDS IN THE AMOUNT $50,000; ALLOCATING SAID FUNDS TO BASCOMB
MEMORIAL BROADCASTING FOUNDATION/WDNA 88.9 FM ("BASCOMB MEMORIAL"), FOR
SPECIAL ECONOMIC DEVELOPMENT ACTIVITIES, SPECIFICALLY TO PURCHASE AND INSTALL
A COMMERCIAL GENERATOR FOR THE PROPERTY LOCATED AT 2921 CORAL WAY, MIAMI,
FLORIDA; AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENT
FOR SAID PURPOSE(S).
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: $50,000
Final Approvals
(SIGN AND DATE)
CIP Budget
If using or recciving.capital funds
Grants
Risk Management
Purchasing _ Dept. Director
City Manager
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No. 09-0298, adopted June 18, 2009, the Miami City Commission approved
the EDLF Pilot Program Policies which provides businesses with financial assistance to support the
retention and creation of jobs for low to moderate income City residents.
Bascomb is requesting the additional funds to purchase and install a commercial generator so that
the business can remain operational through a power outage.
The Administration recommends the allocation from the City's Department of Community and
Economic Development District 4 EDLF in the amount of $50,000 and allocating said funds to
Bascomb Memorial for special economic development activities.