HomeMy WebLinkAboutSummary FormDate: 06/07/2013
AGENDA ITEM SUMMARY FORM
FILE ID: (3 —0o 1 D 9
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
Commission Meeting. Date: 07/11/2013 District Impacted: 1,2,3,4,5
Type:. ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: HOME Funding 2013-2014
Purpose of Item:
AUTHORIZING THE ALLOCATION OF HOME INVESTMENT PARTNERSHIPS PROGRAM
("HOME") FUNDS, IN THE AMOUNT OF $2,739,396 FOR HOUSING PROGRAMS, FOR
PROGRAM YEAR 2013-2014, IN THE CATEGORIES SPECIFIED IN ATTACHMENT "A",
ATTACHED AND INCORPORATED, FOR THE DEVELOPMENT OF AFFORDABLE HOUSING;
AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS FOR SAID
PURPOSES.
Background Information:
Please see attached
Budget Impact Analysis
y'€S 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: —re) T�RP')1►-��V
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
$2,739,396
Final Approvals
(SIGN AND DATE)
CIP Budge
If using or receiving capital funds
Grants . Risk Management
Pure „ in ' ,, Dept. Director
,City Manager:.
U�
Page I of 1
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No. 12-0470, adopted December 13, 2012, the Miami City commission
approved the allocation of HOME funds, in the projected amount of $2,953,344, for housing
programs, for Program Year 2013-2014, in the categories specified in Attachment "A", attached and
incorporated, for the development of affordable housing.
On May 28, 2013, the U.S. Department of Housing and Urban Development ("HUD") released the
final Community Planning and Development Program Formula Allocations for FY2013, as such, the
amount of HOME funds previously recommended needs to be amended, requiring a new public
hearing.
The Administration recommends the allocation of HOME funds, in the amount of $2,739,396 for
housing programs, for program year 2013-2014, in the categories specified in Attachment "A",
attached and incorporated, for the development of affordable housing.