HomeMy WebLinkAboutSummary FormFILE ID:
AGENDA ITEM SUMMARY FORM
14-00167
Date: 02/13/2014
Commission Meeting Date: 03/27/2014
Type:
X
Resolution I Ordinance
Other
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
District Impacted: 1,2,3,4,5
Emergency Ordinance
Subject: CDBG Funding: Economic Development 2014-2015
Purpose of Item:
Discussion Item
AUTHORIZING THE ALLOCATION OF PROGRAM YEAR 2014-2015, COMMUNITY
DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS, IN THE PROJECTED AMOUNT OF
$1,250,146 IN THE ECONOMIC DEVELOPMENT CATEGORY, TO THE AGENCIES
SPECIFIED IN ATTACHMENT "A," ATTACHED AND INCORPORATED, FOR ECONOMIC
DEVELOPMENT ACTIVITIES IN THE PROGRAM YEAR 2014-2015; AUTHORIZING THE CITY
MANAGER TO EXECUTE THE 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:
$1,250,146
Final Approvals
(SIGN AND DATE)
CIP Budge 3
Ifusing orreceiving capital funds
Grants Risk Management
Dept. Director
City Manager — ,1 'a:
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
The U.S. Department of Housing and Urban Development ("HUD") has yet to release the final
Community Planning and Development Program Formula Allocations for Program Year 2014, as
such, the amount of CDBG Economic Development funds being recommended is a projection.
Pursuant to Resolution No. R-13-0483, adopted December 12, 2013, the Miami City Commission
approved CDBG Program Year categories, allocating the projected amount of $2,132,146 for
Economic Development.
On February 27, 2014, pursuant to Resolution No. R-14-0056; The Miami City Commission approved
the allocation of funds to economic development agencies and activities which include a reserve
amount of $1,250,146.
The funding allocation account may need to be adjusted proportionately once HUD confirms the final
CDBG formula allocation for Program Year 2014-2015.
The Administration recommends the allocation of Program Year 2014-2015 CDBG funds, in the
projected amount of $1,250,146 in the Economic Development category, to the agencies and
activities specified in Attachment "A," attached and incorporated, for economic development activities
in the program year 2014-2015.