HomeMy WebLinkAboutSummary Form (05/09/13)Date: 04/09/2013
AGENDA ITEM SUMMARY FORM
FILE ID: 13- oe y6
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
Commission Meeting Date: 05/09/2013 District Impacted: 5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: APPROVING THE MARTIN LUTHER KING JR. EMERGENCY ASSISTANCE
PROGRAM GUIDELINES AND THE ALLOCATION OF COMMUNITY DEVELOPMENT
BLOCK GRANT FUNDS ("CDBG") FUNDS
Purpose of Item:
APPROVING THE MLK EMERGENCY BUSINESS ASSISTANCE PROGRAM GUIDELINES, AS
SPECIFIED IN EXHIBIT "A", ATTACHED AND INCORPORATED AND 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 7T" AVENUE CORRIDOR; FURTHER
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: $130,000
Final Approvals
(SIGN AND DATE)
�1St•t :i.
CIP Budget,
if using or receiving capital funds t " • "
Grants:. Risk Management
Purch
Chi
� is i;; •
Dept. Director
City Manager
Page 1 of 1
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.
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 and amount of. $948,780.64
to the Department of Community and Economic Development CDBG reserve account.
The City currently has numerous businesses within the 7th Avenue corridor that have been directly
affected multiple times by theft and vandalism which could lead to displacement of the existing
business and loss of jobs in the neighborhood.
The goal of the MLK Emergency Business Assistance Program is to provide a benefit to low and
moderate income business owners in the area with the assistance to maintain the economic viability
of their businesses and serve as catalysts for employment and community growth.
A summary of the MLK Emergency Business Assistance Program Policies and Guidelines is
attached and incorporated as Exhibit "A".
An 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, has specifically been made to the MLK Emergency Business Assistance Program.
The Administration recommends approving the MLK Emergency Business Assistance Program
Policies & Guidelines, as specified in Exhibit "A", attached and incorporated.
The 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.