HomeMy WebLinkAboutSummary FormDate: 06/17/13
AGENDA ITEM SUMMARY FORM
FILE ID: 13 - Doi/le 9
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
Commission Meeting Date: 07/25/13 District Impacted: 1,2,3,4,5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: SHIP Funding 2013-2014
Purpose of Item:
[AUTHORIZING THE ACCEPTANCE OF STATE HOUSING INITIATIVES PARTNERSHIP ("SHIP")
FUNDS, IN THE TOTAL AMOUNT OF $572,606, FOR FISCAL YEAR 2013-2014, FOR THE
STRATEGIES UNDER THE CURRENT SHIP LOCAL HOUSING ASSISTANCE PLAN ("CHAP"),
AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS, FOR SAID
PURPOSE(S).
Background Information:
Please see attached.
Budget Impact Analysis
Is this item related to revenue?
Is this item an expenditure? If so, please identify funding source below.
• General Account No:
Special Revenue Account No:
CIP Project No:
P
NO Is this item funded by Homeland Defense/Neighborhood Improvement. Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
Approvals
(SIGN AND DATE)
If using or receiving capital funds
Grants-... ..•_...:, .._ .
Budget
r IRisk'Management ; '
Puy kg Dept: Director A,ef ��/=
..- i : Si_0 an ,..0 WA
ieCity ManagerI',jr
Page I of 1
411*
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
On July 1992, the State of Florida enacted the William E. Sadowski Affordable Housing Act
("Sadowski Act") which provides for the allocation of a portion of new and existing documentary
stamp taxes on deeds on real estate transactions to local governments for the development and
maintenance of affordable housing.
The Sadowski Act provided a dedicated revenue source for affordable housing and created the
Florida State Housing Initiative Partnership Program.
Pursuant to Resolution No. 13-0137, adopted April 11, 2013, the Miami City Commission approved
the City's LHAP was approved for the period of July 1, 2013 through June 30, 2016, allowing the
City's continued participation in the Florida SHIP Program.
On June 4, 2013, the City was notified by Florida Housing Finance Corporation a distribution of SHIP
funds in the total amount of $572,606 for State Fiscal Year 2013-2014.
The Administration recommends the acceptance of SHIP funds, in the total amount of $572,606 for
Fiscal Year 2013-2014, for the strategies under the current SHIP LHAP.