HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #14997
Date: 11 /01 /2023
Commission Meeting Date: 12/14/2023
Requesting Department: Department of
Housing and Community Development
Sponsored By:
District Impacted: All
Type: Resolution
Subject: Allocate Funds - Home Program Income/Recapture
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM INCOME FROM HOME
INVESTMENT PARTNERSHIP ("HOME") PROGRAM FUNDS GENERATED FROM
AUGUST 1, 2023 TO SEPTEMBER 30, 2023 IN THE AMOUNT OF $701.59 AND AN
ADDITIONAL AMOUNT OF $184,753.00 OF RECAPTURED FUNDS, FOR A TOTAL
AMOUNT OF $185,454.59 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
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, 2023, to September 30, 2023, the Department collected an amount of
$701.59 in Home Investment Partnerships Program ("HOME") program income and an
amount of $184,753.00 in recaptured funds for a total of $185,454.59 ("Funds").
Pursuant to HOME regulations 24 CFR Part 92.503, program income and recapture
amount must be used for eligible HOME activities.
The Department recommends allocating the Funds to the eligible HOME activities
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:
Total Fiscal Impact: $185,454.59
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
City Commission
Office of the City Clerk
Reviewed B
and Economic Development
11/07/2023 8:28 AM
Budget Luis Hernandez -Torres
Budget Marie Gouin
Larry M. Spring
Arthur Noriega V
Valentin J Alvarez
Raymond Pereira
Victoria Mendez
Maricarmen Lopez
City Clerk's Office
George Mensah
Budget Analyst Review
Budget Review
Assistant City Manager Review
City Manager Review
Legislative Division Review
ACA Review
Approved Form and Correctness
Meeting
Rendered
Department Head
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
11/07/2023 9:23 AM
11/07/2023 4:21 PM
11/20/2023 11:32 AM
11/21/2023 8:48 AM
11/21/2023 3:05 PM
11/22/2023 12:51 PM
11/22/2023 4:11 PM
12/14/2023 9:00 AM
12/19/2023 6:27 PM
City of Miami
Legislation
Resolution
Enactment Number: R-23-0540
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 14997 Final Action Date:12/14/2023
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTNERSHIPS
("HOME") FUNDS GENERATED FROM AUGUST 1, 2023 TO SEPTEMBER 30, 2023,
IN THE AMOUNT OF $701.59 AND AN ADDITIONAL AMOUNT OF $184,753.00 OF
RECAPTURED FUNDS FOR A TOTAL AMOUNT OF $185,454.59, 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.
WHEREAS, the Department of Housing and Community Development ("Department")
receives diverse types of repayments from loans provided to developers and homeowners,
which are referred to as program income, are required to be used for eligible program activities;
and
WHEREAS, from August 1, 2023, to September 30, 2023, the Department collected an
amount of $701.59 in Home Investment Partnerships Program ("HOME") program income and
an amount of $184,753.00 in recaptured funds for a total of $185,454.59 ("Funds"); and
WHEREAS, pursuant to HOME regulations 24 CFR Part 92.503, program income and
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: