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HomeMy WebLinkAboutPre-LegislationCity of Miami Legislation Resolution: R-20-0237 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 7695 Final Action Date: 7/23/2020 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE ACCEPTANCE OF CORONAVIRUS RELIEF FUNDS ("CRF") FROM THE UNITED STATES TREASURY DEPARTMENT THROUGH FLORIDA HOUSING FINANCE CORPORATION ("FHFC") IN THE TOTAL AMOUNT OF $1,312,500.00 AND AUTHORIZING THE ALLOCATION OF SAID FUNDS FOR MORTGAGE PAYMENT ASSISTANCE BY CREATING AND FUNDING THE CITY OF MIAMI MORTGAGE ASSISTANCE PROGRAM, AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED ("PROGRAM"), WHEREBY THE CITY IS ALLOCATING AN AMOUNT OF $131,250.00 FOR PROGRAM ADMINISTRATION AND ALLOCATING AN AMOUNT OF $1,181,250.00 TO CREATE AND FUND THE PROGRAM, IN COMFORMITY WITH THE LOCAL HOUSING ASSISTANCE PLAN ("LHAP"); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS, EXTENSIONS, AND MODIFICATIONS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, SUBJECT TO ALL FEDERAL, STATE, AND LOCAL LAWS THAT REGULATE THE USE OF SUCH FUNDS FOR SAID PURPOSE. SPONSOR(S): Commissioner Alex Diaz de la Portilla, Commissioner Ken Russell, Commissioner Manolo Reyes, Commissioner Keon Hardemon WHEREAS, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), is an economic stimulus bill passed by the 116th United States Congress and signed into law by President Donald J. Trump in March 2020, in response to the economic fallout caused by the Novel Coronavirus ("COVID-19") pandemic; and WHEREAS, the State of Florida ("State") has been awarded funds from the Coronavirus Relief Fund ("CRF") from the United States Treasury Department to be spent on necessary activities due to the COVID-19 emergency; and WHEREAS, the State has allocated approximately $120 million to local governments to be administered through the SHIP program; and WHEREAS, on July 17, 2020, the City of Miami ("City") was notified, by the Florida Housing Finance Corporation, of a distribution of CRF funds in the total amount of $1,312,500.00 for the current program year; and WHEREAS, these funds must be spent for rental or mortgage assistance by December 30, 2020; and City of Miami Page 1 of 2 File ID: 7695 (Revision:) Printed On: 8/12/2020 File ID: 7695 Enactment Number: R-20-0237 WHEREAS, the City Administration recommends the acceptance of CRF funds in the total amount of $1,312,500.00, and allocating an amount of $131,250.00 for program administration and allocating an amount of $1,181,250.00 to be used for mortgage assistance for homeowners with loss or reduction in income by creating and funding the City of Miami Mortgage Assistance Program ("Program"), as more particularly described in Exhibit "A," attached and incorporated, in conformity with the Local Housing Assistance Plan ("LHAP"); and WHEREAS, in accordance with Section 2-33(f) of the Code of the City of Miami, Florida, as amended, the City Commission, by a majority vote, hereby deems this Resolution to be of an emergency nature; 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 if fully set forth in this Section. Section 2. The acceptance of CRF funds from the United States Treasury Department through Florida Housing Finance Corporation, in the total amount of $1,312,500.00, and the allocation of said funds for mortgage payment assistance by creating and funding the City Program, as more particularly described in Exhibit "A," attached and incorporated, whereby the City is allocating an amount of $131,250.00 for program administration and allocating an amount of $1,181,250.00 to create and fund the Program, in conformity with the LHAP, is authorized. Section 3. The City Manager is authorized1 to negotiate and execute any and all necessary documents, including amendments, extensions, and modifications, all in forms acceptable to the City Attorney, subject to all federal, state, and local laws that regulate the use of such funds for said purpose. Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: 1 The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited, to those prescribed by applicable City Charter and City Code provisions. 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (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: 7695 (Revision:) Printed on: 8/12/2020 EXHIBIT "A" City of Miami Department of Housing Community Development Mortgage Assistance Program Program Objective: The City of Miami Mortgage Assistance Program is designed to provide up to $6,000 in mortgage assistance to low and moderate -income (up to 120% AMI or less) residents who have lost their income because of the coronavirus pandemic. Source of Funding: State allocated Treasure Dept Cares Act Funds Funding for this Program: $1,181,250.00 Eligible Costs: Payment of mortgages Amount of Assistance: Mortgage arrears up to $6,000 Eligible Properties: • Single Family Residence • Townhomes • Condominiums • Property must be in the City of Miami • The property must be owner -occupied with homestead exemption. Eligible Owners: • Must be a City of Miami resident who lost his/her job or had a reduction in income after March 1st, 2020; • Household income must be less than or equal to 120% of the median income adjusted for household size. • The homeowner must have been current on the mortgage prior to March 1st, 2020. Required Documentation: • State of Florida issued picture ID card with a City of Miami address; • proof that the applicant lost his/her job or had a reduction in income after March 1, 2020; • proof of household income; • copy of mortgage statement or lender letter showing arrears Eligible Use of Funds: • Payment of outstanding principal and interest payments • Current and/or outstanding property insurance and taxes on the property including escrow deficiencies.