HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #8722
Date: 03/09/2021
Commission Meeting Date: 04/22/2021
Requesting Department: Department of
Housing and Community Development
Sponsored By:
District Impacted: All
Type: Resolution
Subject: Allocate Funds - HOME Investment Partnership Program
Purpose of Item:
A RESOLUTION OF MIAMI CITY COMMISSION WITH ATTACHMENT(S),
AUTHORIZING THE ALLOCATION OF PROGRAM INCOME FROM HOME
INVESTMENT PARTNERSHIP ("HOME") PROGRAM FUNDS GENERATED FROM
AUGUST 1, 2020 TO JANUARY 31, 2021 IN THE AMOUNT OF $75,878.04 AND AN
ADDITIONAL AMOUNT OF $49,530.00 OF RECAPTURED FUNDS, FOR A TOTAL
AMOUNT OF $125,408.04, AS SPECIFIED IN EXHIBIT "A," ATTACHED AND
INCORPORATED; AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND
EXECUTE ANY AND ALL NECESSARY DOCUMENTS, ALL IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE.
Background of Item:
The Department of Housing and Community Development ("Department") receives
various types of repayments from loans provided to developers and homeowners in the
past, such funds referred to as program income, are required to be used for eligible
program activities.
From August 1, 2020 to January 31, 2021 the Department collected $75,878.04 in
Home Investment Partnership ("HOME") program income and an amount of $49,530.00
in recaptured funds.
Pursuant to HOME regulations 24 CFR Part 92.503, program income and recaptured
funds must be used for eligible HOME activities.
The Department recommends the allocation of the program income generated August
1, 2020 to January 31, 2021 in the total amount of $75,878.04 and an additional amount
of $49,530.00 of recaptured funds, for a total amount of $125,408.04 as specified in
Exhibit "A" attached and incorporated, which are eligible HOME activities.
Budget Impact Analysis
Item has NOT an Expenditure
Item is an Expenditure
Item is NOT funded by Bonds
Total Fiscal Impact:
$125,408.04
Special Revenue Account No: 14002.910101.469000 (HOME)
Department of Community
Review Completed
Office of Management and
Office of Management and
City Manager's Office
City Manager's Office
Legislative Division
Office of the City Attorney
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the City Clerk
Reviewed B
and Economic Development
03/09/2021 9:10 AM
Budget Luis Hernandez -Torres
Budget Leon P Michel
Fernando Casamayor
Arthur Noriega V
Valentin J Alvarez
Richard Appleton
Barnaby L. Min
Victoria Mendez
Nicole Ewan
City Clerk's Office
George Mensah
Budget Analyst Review
Budget Review
Assistant City Manager Review
City Manager Review
Legislative Division Review
ACA Review
Deputy City Attorney Review
Approved Form and Correctness
Meeting
Rendered
Department Head
Completed 03/10/2021 1:02 PM
Completed 03/11/2021 9:44 AM
Completed 03/16/2021 5:05 PM
Completed 03/22/2021 10:03 PM
Completed 03/23/2021 12:37 PM
Completed 03/29/2021 7:24 PM
Completed 03/30/2021 7:59 AM
Completed 03/30/2021 4:56 PM
Completed 04/22/2021 9:00 AM
Completed 04/27/2021 3:47 PM
City of Miami
Legislation
Resolution
Enactment Number: R-21-0168
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 8722 Final Action Date:4/22/2021
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTNERSHIP
("HOME") PROGRAM FUNDS GENERATED FROM AUGUST 1, 2020 TO JANUARY
31, 2021 IN THE AMOUNT OF $75,878.04 AND AN ADDITIONAL AMOUNT OF
$49,530.00 OF RECAPTURED FUNDS, FOR A TOTAL AMOUNT OF $125,408.04, AS
SPECIFIED IN EXHIBIT "A," ATTACHED AND INCORPORATED; AUTHORIZING THE
CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY
DOCUMENTS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID
PURPOSE.
WHEREAS, the Department of Housing and Community Development ("Department")
periodically receives various types of repayments from loans provided to developers and
homeowners that are required to be used for eligible program activities; and
WHEREAS, from August 1, 2020 to January 31, 2021, the Department collected
$75,878.04 in Home Investment Partnership ("HOME") program income and an amount of
$49,530.00 in recaptured funds for a total amount of $125,408.04 ("Funds"); and
WHEREAS, pursuant to HOME regulation 24 CFR Part 92.503, program income and
recaptured funds must be used for eligible HOME activities; and
WHEREAS, the Department recommends the allocation of the Funds as specified in
Exhibit "A," attached and incorporated, which are eligible HOME activities;
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 allocation of the Funds, as specified in Exhibit "A," attached and
incorporated, is authorized.'
Section 3. The City Manager is authorized to negotiate and execute any and all
necessary documents, all in forms acceptable to the City Attorney, for said purpose.
Section 4. This Resolution shall become effective immediately upon its adoption.
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.
APPROVED AS TO FORM AND CORRECTNESS: