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HomeMy WebLinkAboutLegislation (05/09/13)City of Miami Legislation Resolution City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 13-00462 Final Action Date: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING THE MARTIN LUTHER KING EMERGENCY BUSINESS ASSISTANCE PROGRAM GUIDELINES, AS-SP-ECIF-IED-IN-EXHIBIT"A",-ATTACHED_AND INCORPORATED; AUTHORIZING THE ALLOCATION OF COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS IN THE AMOUNT OF $130,000, FROM THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT CDBG RESERVE ACCOUNT, AS SPECIFIED IN EXHIBIT "B", ATTACHED AND INCORPORATED, TO PROVIDE FORGIVABLE LOANS UP TO $10,000 TO FOR -PROFIT BUSINESSES LOCATED ON OR ABOUT THE 7TH AVENUE CORRIDOR, MIAMI, FLORIDA; FURTHER 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. 09-0298, adopted June 18, 2009, the Miami City Commission approved the Economic Development Loan Fund Pilot Program Policies which provides businesses with financial assistance to support the retention and creation of jobs for low to moderate income City of Miami ("City") residents; and WHEREAS, pursuant to Resolution No. , adopted May 9, 2013, the Miami City Commission approved the de -obligation and close-out of certain CDBG activities and allocated an amount of $948,780.64 to the Department of Community and Economic Development Community Development Block Grant ("CDBG") Reserve Account; and WHEREAS, the City currently has numerous businesses within the 7th Avenue corridor, Miami, Florida, that have been directly affected multiple times by theft and vandalism which could lead to the displacement of the existing business and loss of jobs in the neighborhood; and WHEREAS, the goal of the Martin Luther King Jr. Emergency Business Assistance Program ("MLK Emergency Business Assistance Program") is to provide a benefit to low and moderate income business owners in the area with assistance to maintain the economic viability of their businesses and serve as catalysts for employment and community growth; and WHEREAS, a summary of the MLK Emergency Business Assistance Program Policies and Guidelines is attached and incorporated as Exhibit "A"; and WHEREAS, the City Administration recommends approving said MLK Emergency Business Assistance Program Policies & Guidelines; and WHEREAS, the City Administration further recommends approving the allocation of CDBG funds in the amount of $130,000 from the Department of Community and Economic Development CDBG Reserve Account, as specified in Exhibit "B", attached and incorporated, to the MLK Emergency Business Assistance Program; City of Miami Page 1 of 2 File Id: 13-00462 (Version: 1) Printed On: 4/17/2013 File Number: 13-00462 NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as fully set forth in this Section. Section 2. The MLK Emergency Business Assistance Program Policies and Guidelines, as specified in Exhibit "A", attached and incorporated, are approved. artment Section 3. The transfer of CDBG funds, in the amount accopnt$fo30,000 from the r the MLK Emergenp y�usiness of Community and Economic Development CDBG Reserve Assistance Program as specified in Exhibit "B"onattached or about and thinc rpo AvenuetedCorprorideri, is f o giovabledloans up to $10,000 to for -profit businesses located Section 4. The City Manager is further authorized{1 } to execute all necessary documents, in a form acceptable to the City Attorney, for said purpose. Section 5. 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: h a r hat may {1} The herein authorization is further subject to compliance thosepreltscnbed by applicable Citye imposed by the City Attorney, including but noimited Charter and Code provisions. of n (10) {2} If the Mayor does not sign this Resolution, dtadopted.shall lbecome If the Mayor vetoes thisd Reseolution, it calendar days from the date it was passed shall become effective immediately upon override of the veto by the City Commission. City of Miami Page 2 of 2 File Id: 13-00462 (Version: 1) Printed On: 4/17/2013