HomeMy WebLinkAboutSummary FormDate: 01-06-2015
AGENDA ITEM SUMMARY FORM
FILE ID: 15-00077
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
Commission Meeting Date: 02-26-2015 District Impacted: 1,2,3,4,5
Type: 1/ Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: CDBG Funding: Economic Development 2015-2016
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM YEAR 2015-2016, COMMUNITY
DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS, IN THE PROJECTED AMOUNT OF
$2,407,516.65 IN THE ECONOMIC DEVELOPMENT CATEGORY, TO THE AGENCIES
SPECIFIED IN ATTACHMENT "A," ATTACHED AND INCORPORATED, FOR ECONOMIC
DEVELOPMENT ACTIVITIES IN THE PROGRAM YEAR 2015-2016; 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: $2,407,516.65
Final Approvals
(SIGN AND DATE)
CIP Budge
If using or receiving capital funds
Grants Risk Management,
Purchasing Dept. Director
Chief ") City Manage
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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 2015, as
such; the amount of CDBG Economic Development funds being recommended is a projection.
Pursuant to Resolution No. R- , adopted February 26, 2015, the Miami City
Commission approved CDBG Program Year categories, allocating the projected amount of
$2,407,516.65 for Economic Development.
The funding allocation account may need to be adjusted proportionately once HUD confirms the final
CDBG formula allocation for Program Year 2015-2016.
The Administration, recommends the allocation for 2015-2016 Program Year CDBG funds, projected
amount of $2,407,516.65 in the Economic Development category, to the agencies specified in
Attachment "A", attached and incorporated, for Economic Development activities in the program year
2015-2016.