HomeMy WebLinkAboutLegislationCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 13-00799 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE
ALLOCATION OF FUNDS FROM THE CITY OF MIAMI ("CITY") DEPARTMENT OF
COMMUNITYAND ECONOMIC DEVELOPMENT RESERVE ACCOUNT, IN THE
AMOUNT OF $1,622,986, FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST
DUE FOR THE CITY'S SHARE OF THE JUNGLE ISLAND SECTION 108 LOAN
FROM THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT; AUTHORIZING THE CITY MANAGER TO ACCEPT THE
REPAYMENT OF SAID PRINCIPAL AND INTEREST FROM PARROT JUNGLE
GARDENS AND WATSON ISLAND; DEPOSITING SUCH PAYMENT INTO THE
COMMUNITY DEVELOPMENT BLOCK GRANT DISTRICT RESERVES; FURTHER
AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY
DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID
PURPOSE.
WHEREAS, in 1998, Miami -Dade County ("County") obtained a $25 million United States
Department of Housing and Urban Development ("U.S. HUD") Section 108 Loan to create a loan to
Parrot Jungle Gardens and Watson Island ("Jungle Island"), for the purpose of seeking financial
assistance through the U.S. HUD Section 108 Loan Program; and
WHEREAS, pursuant to Resolution No. 07-0405, adopted July 10, 2007, the City Commission
approved an assumption by the City of Miami ("City") of an 80% interest and obligation in the U.S.
HUD Loan; and
WHEREAS, the payment of this principal and interest due on this loan will assist the City in
meeting the Community Development Block Grant ("CDBG") timeliness test; and
WHEREAS, the payment of the principal and interest using CDBG funds in no way absolves
Jungle Island from making this payment to the County; and
WHEREAS, the City Administration recommends the allocation of funds from the City's
Department of Community and Economic Development CDBG Reserve account, in the amount of
$1,622,986, for the payment of the City's share of the Jungle Island Section 108 loan;
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 allocation of funds from the City's Department of Community and Economic
Development CDBG Reserve Account in the amount of $1,622,986, for the payment of the Principal
and Interest due for the City's share of the Jungle Island Section 108 loan, is authorized.
City of Miami
Page 1 of 2 File Id: 13-00799 (Version: 1) Printed On: 7/15/2013
File Number: 13-00799
Section 3. The City Manager is authorized {1} to accept the repayment of said principal and
interest from Jungle Island and to deposit such payment into the CDBG District Reserves.
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 FOND CORRECTNESS:
JULIE O. BRIM
CITY ATTORNEY
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter
and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of (10) calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File Id: 13-00799 (Version: 1) Printed On: 7/15/2013