HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: 14-00366
Date: 04/07/2014
Commission Meeting Date:05/08/2014
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
District Impacted: 1,2,3,4,5
Type: ® Resolution Ordinance Emergency Ordinance n Discussion Item
n Other
Subject: CDBG Funding: Economic Development 2014-2015
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM YEAR 2014-2015, COMMUNITY
DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS, IN THE AMOUNT OF $1,283,296 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:
$1,283,296
Final Approvals
(SIGN AND DATE)
CIP Budget
Risk Management
Puifig/'J — Dept. Director
City Manager s,
If using or receiving capital funds
Grants
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
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 March 27, 2014, pursuant to Resolution No. R-14-0120; The Miami City Commission approved
the allocation of funds to Economic Development agencies and activities which include a reserve
amount of $1,007,916.
On March 18th, 2014, HUD posted the allocation of CDBG funds for the City in the amount of
$4,734,641 resulting in additional $275,380 in Economic Development for a total unallocated amount
of $1,283,296 in the Economic Development category.
The Administration recommends the allocation of Program Year 2014-2015 CDBG funds, in the
amount of $1,283,296 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.