HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #11899
Date: 04/26/2022
Commission Meeting Date: 06/09/2022
Type: Resolution
Subject: Allocate - HOME Program Income
Purpose of Item:
Requesting Department: Department of
Housing and Community Development
Sponsored By:
District Impacted: All
AUTHORIZING THE ALLOCATION OF PROGRAM INCOME FROM HOME
INVESTMENT PARTNERSHIP ("HOME") PROGRAM FUNDS GENERATED FROM
NOVEMBER 1, 2021 TO MARCH 31, 2022 IN THE AMOUNT OF $351,230.47 AND AN
ADDITIONAL AMOUNT OF $68,422.99 OF RECAPTURED FUNDS, FOR A TOTAL
AMOUNT OF $419,653.46, 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 November 1, 2021 to March 31, 2022 the Department collected $351,230.47 in
Home Investment Partnership ("HOME") program income and an amount of $68,422.46
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
November 1, 2021 to March 31, 2022 in the total amount of $351,230.47 and an
additional amount of $68,422.99 of recaptured funds, for a total amount of $419,653.46
to the eligible HOME activities, as specified in Exhibit "A" attached and incorporated.
Budget Impact Analysis
Item is an Expenditure
Item is NOT Related to Revenue
Item is NOT funded by Bonds
Total Fiscal Impact:
$419,653.46
Special Revenue Account No: 14002.910101.883000 (HOME)
Reviewedy
George Mensah
Department of Community and Economic Development
Review Completed
Office of Management and Budget
Office of Management and Budget
City Manager's Office
City Manager's Office
Legislative Division
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the Mayor
Office of the City Clerk
Office of the City Clerk
05/19/2022 9:24 AM
Luis Hernandez -Torres
Marie Gouin
Fernando Casamayor
Arthur Noriega V
Valentin J Alvarez
Richard Appleton
Victoria Mendez
Maricarmen Lopez
Mayor's Office
City Clerk's Office
City Clerk's Office
Budget Analyst Review
Budget Review
Assistant City Manager Review
City Manager Review
Legislative Division Review
ACA Review
Approved Form and Correctness
Meeting
Department Head
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Signed by the Mayor Completed
Signed and Attested by the City Clerk Completed
Rendered Completed
05/20/2022 10:37 AM
05/23/2022 10:04 AM
05/23/2022 10:49 AM
05/23/2022 6:28 PM
05/24/2022 12:04 PM
05/26/2022 11:13 AM
05/30/2022 11:19 AM
06/09/2022 9:00 AM
06/17/2022 3:41 PM
06/17/2022 3:50 PM
06/17/2022 3:50 PM
City of Miami
Legislation
Resolution
Enactment Number: R-22-0201
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 11899 Final Action Date:6/9/2022
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE ALLOCATION OF PROGRAM INCOME FROM HOME
INVESTMENT PARTNERSHIPS PROGRAM ("HOME") FUNDS GENERATED FROM
NOVEMBER 1, 2021 TO MARCH 31, 2022 IN THE AMOUNT OF $351,230.47 AND AN
ADDITIONAL AMOUNT OF $68,422.99 OF RECAPTURED FUNDS, FOR A TOTAL
AMOUNT OF $419,653.46, AS SPECIFIED IN EXHIBIT "A," ATTACHED AND
INCORPORATED; AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND
EXECUTE ANY AND ALL NECESSARY DOCUMENTS, IN A FORM 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 November 1, 2021 to March 31, 2022, the Department collected
$351,230.47 in Home Investment Partnerships Program ("HOME") program income and an
amount of $68,422.99 in recaptured 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 program income
generated November 1, 2021 to March 31, 2022, in the amount of $351,230.47, and an
additional amount of $68,422.99 of recaptured funds, for a total amount of $419,653.46, to the
eligible HOME activities, as 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 HOME program income generated from November 1, 2021
to March 31, 2022, in the amount of $351,230.47, and an additional amount of $68,422.99 of
recaptured funds, for a total amount of $419,653.46, to the eligible HOME activities, 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, in a form acceptable to the City Attorney, for said purpose.
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.
Section 4. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
ndez, City Attor ey 5/30/2022
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.