HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #13652
Date: 03/10/2023
Commission Meeting Date: 04/27/2023
Requesting Department: Department of
Housing and Community Development
Sponsored By:
District Impacted: All
Type: Resolution
Subject: Allocate - HOME Program Income/Recaptured Funds
Purpose of Item:
AUTHORIZING THE CITY MANAGER TO ALLOCATE PROGRAM INCOME FROM
FROM HOME INVESTMENT PARTNERSHIPS PROGRAM FUNDS GENERATED
FROM AUGUST 1, 2022 TO SEPTEMBER 30, 2022, IN THE AMOUNT OF $61,834.98
AND AN ADDITIONAL AMOUNT OF $67,202.00 OF RECAPTURED FUNDS FOR A
TOTAL AMOUNT OF $129,036.98, AS SPECIFIED IN EXHIBIT "A," ATTACHED AND
INCORPORATED; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE
AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE.
Background of Item:
The Department of Housing and Community Development ("Department") receives
diverse 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, 2022, to September 30, 2022, the Department collected an amount of
$61,834.98 in Home Investment Partnerships Program ("HOME") program income and
an amount of $67,202.00 in recaptured funds for a total of $129,036.98 ("Funds").
Pursuant to HOME regulations 24 CFR Part 92.503, program income and recapture
amount must be used for eligible HOME activities.
Budget Impact Analysis
Item is NOT Related to Revenue
Item is an Expenditure
Item is NOT funded by Bonds
Total Fiscal Impact:
$129,036.98
Special Revenue Account No: 14002.910101.469000 (HOME)
Reviewed B
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 City Clerk
03/10/2023 8:08 AM
Luis Hernandez -Torres
Marie Gouin
Larry M. Spring
Arthur Noriega V
Marta Gomez
Raymond Pereira
Victoria Mendez
Maricarmen Lopez
City Clerk's Office
George Mensah Department Head
Budget Analyst Review
Budget Review
Assistant City Manager Review
City Manager Review
Legislative Division Review
OCAC Review
Approved Form and Correctness
Meeting
Rendered
Completed 03/10/2023 11:24 AM
Completed 03/10/2023 11:31 AM
Completed 03/14/2023 2:10 PM
Completed 03/14/2023 3:12 PM
Completed 03/23/2023 4:07 PM
Completed 03/29/2023 2:27 PM
Completed 03/30/2023 9:04 AM
Completed 04/27/2023 9:00 AM
Completed 05/04/2023 4:03 PM
City of Miami
Legislation
Resolution
Enactment Number: R-23-0190
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 13652 Final Action Date:4/27/2023
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTNERSHIPS
PROGRAM FUNDS GENERATED FROM AUGUST 1, 2022, TO SEPTEMBER 30,
2022, IN THE AMOUNT OF $61,834.98 AND AN ADDITIONAL AMOUNT OF
$67,202.00 OF RECAPTURED FUNDS FOR A TOTAL AMOUNT OF $129,036.98, 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 diverse types of repayments from loans provided to developers and homeowners, such
funds, which are referred to as program income, are required to be used for eligible program
activities; and
WHEREAS, from August 1, 2022, to September 30, 2022, the Department collected an
amount of $61,834.98 in Home Investment Partnerships Program ("HOME") program income
and an amount of $67,202.00 in recaptured funds for a total of $129,036.98 ("Funds"); and
WHEREAS, pursuant to HOME regulation 24 CFR Part 92.503, program income and the
recapture amount 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 a form 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: