HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: 15-Q 1156
Date: 08/27/2015
Commission Meeting Date: 10/08/2015
Type: X Resolution
n Other
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
District Impacted: 4
Ordinance Emergency Ordinance Discussion Item
Subject: TRANSFER OF COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG")
FUNDS TO "CAMACOL" AND TO THE ECONOMIC DEVELOPMENT LOAN PROGRAM
Purpose of Item:
AUTHORIZING THE TRANSFER OF PROGRAM YEAR 2015-2016 COMMUNITY DEVELOPMENT
BLOCK GRANT ("CDBG"), ECONOMIC DEVELOPMENT FUNDS IN THE AMOUNT OF $250,000
FROM CITY OF MIAMI, SINGLE FAMILY REHABILITATION RESERVE FUNDS -DISTRICT 4;
ALLOCATING SAID FUNDS TO LATIN CHAMBER OF COMMERCE OF THE UNITED STATES
OF AMERICA ("CAMACOL") AND TO THE ECONOMIC DEVELOPMENT LOAN PROGRAM AS
SPECIFIED IN ATTACHMENT "A", ATTACHED AND INCORPORATED; AUTHORIZING THE CITY
MANAGER TO EXECUTE ALL THE NECESSARY DOCUMENTS, FOR SAID PURPOSE(S).
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: $250,000
Final Approvals
(SIGN AND DATE)
Budget �.
If rising or gece ving capital funds
Grants
Purchasing
Chief
Risk Management
Dept. Director
City Manager
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution Number 15-0141, adopted March 26, 2015 the Miami City Commission
approved the allocation of Program Year 2015-2016 CDBG, Economic Development funds in an
amount of $1,800,190; which included an amount of $250,000 to the City of Miami, Single Family
Rehabilitation program in District 4.
Under the commercial facade improvement project, eligible business received up to $10,000 for
facade improvement. The business are required to match up to 15% of the City contribution.
The District wishes to use the funds for Commercial Facade Improvement activities and job creation
program in the District
There are two other districts, District 1 and District 5 that offers the facade program this year.
The Administration recommends the transfer of CDBG, Economic Development funds in the amount
of $250,000 from the City of Miami, Single Family Rehabilitation reserve funds, District 4, to Latin
Chamber of Commerce of the United States of America ("CAMACOL") and to the economic
development loan program as specified in Attachment "A".