HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #11421
Date: 01/26/2022
Commission Meeting Date: 04/14/2022
Requesting Department: Department of
Housing and Community Development
Sponsored By:
District Impacted: All
Type: Resolution
Subject: Allocate - HOME Program Income/Recaptured fund
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM INCOME FROM HOME
INVESTMENT PARTNERSHIP ("HOME") PROGRAM FUNDS GENERATED FROM
FEBRUARY 1, 2021 TO OCTOBER 31, 2021 IN THE AMOUNT OF $106,028.49 AND
AN ADDITIONAL AMOUNT OF $888,496.63 OF RECAPTURED FUNDS, FOR A
TOTAL AMOUNT OF $994,525.12, 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 thar
are required to be used for eligible program activities.
From February 1, 2021 to October 31, 2021 the Department collected $106,028.49 in
Home Investment Partnership ("HOME") program income and an amount of
$888,496.63 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 February
1, 2021 to October 31, 2021 in the total amount of $994,525.12 to the eligible HOME
activities, as specified in Exhibit "A" attached and incorporated.
Budget Impact Analysis
Item is NOT Related to Revenue
Item is an Expenditure
Item is NOT funded by Bonds
Total Fiscal Impact:
$994,525.12
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 Mayor
Office of the City Clerk
Legislative Division
Office of the City Attorney
Office of the City Attorney
Office of the City Clerk
Reviewed B
and Economic Development
01/26/2022 9:22 AM
Budget Luis Hernandez -Torres
Budget Marie Gouin
Fernando Casamayor
Arthur Noriega V
Valentin J Alvarez
Richard Appleton
Barnaby L. Min
Victoria Mendez
Maricarmen Lopez
Mayor's Office
City Clerk's Office
Valentin J Alvarez
Richard Appleton
Victoria Mendez
City Clerk's Office
George Mensah Department Head
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
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Signed by the Mayor Completed
Signed and Attested by the City Clerk Completed
Legislative Division Review Completed
ACA Review
Approved Form and Correctness
Rendered
Completed
Completed
Completed
01/26/2022 2:04 PM
01/26/2022 5:12 PM
02/03/2022 3:58 PM
02/04/2022 8:14 AM
02/04/2022 9:16 AM
02/17/2022 6:40 PM
02/18/2022 7:16 AM
02/22/2022 3:44 PM
04/14/2022 9:00 AM
04/22/2022 2:11 PM
04/22/2022 2:16 PM
05/04/2022 9:23 AM
05/18/2022 2:22 PM
05/22/2022 12:20 PM
05/31/2022 6:04 PM
City of Miami
Legislation
Resolution
Enactment Number: R-22-0138
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 11421 Final Action Date:4/14/2022
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTNERSHIPS
PROGRAM FUNDS GENERATED FROM FEBRUARY 1, 2021 TO OCTOBER 31,
2021 IN THE AMOUNT OF $106,028.49 AND AN ADDITIONAL AMOUNT OF
$888,496.63 OF RECAPTURED FUNDS, FOR A TOTAL AMOUNT OF $994,525.12,
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")
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 February 1, 2021 to October 31, 2021, the Department collected
$106,028.49 in Home Investment Partnerships Program ("HOME") program income and an
amount of $888,496.63 in recaptured funds for a total of $994,525.12 ("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 allocating the Funds to the eligible HOME
activities specified in Exhibit "A," attached and incorporated;
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 to the eligible HOME activities 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 and
signature of the Mayor.2
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.
APPROVED AS TO FORM AND CORRECTNESS:
ndez, City Httor
2/2272022 fr Y riai ndez, City Nttor5/22/2022