HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #15413
Date: 01/16/2024
Commission Meeting Date: 02/22/2024
Requesting Department: Department of
Housing and Community Development
Sponsored By:
District Impacted: All
Type: Resolution
Subject: Allocate Funds - Home Investment Partnership
Purpose of Item:
Authorizing the allocation of program income from home investment partnership
("home") program funds generated from October 1, 2023 to December 31, 2023 in the
amount of $10,067.67 and an additional amount of $61,650.00 of recaptured funds, for
a total amount of $71,717.67 as specified in exhibit "a," attached and incorporated;
further authorizing the city manager to negotiate and execute all the necessary
documents, including amendments, extensions, and modifications, all in a form
acceptable to the city attorney, subject to all federal , state and local laws that regulate
the use of such funds, for said purposes.
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 October 1, 2023, to December 31, 2023, the Department collected an amount of
$10,067.67 in Home Investment Partnerships Program ("HOME") program income and
an amount of $61,650.00 in recaptured funds for a total of $71,717.67 ("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 NOT funded by Bonds
Total Fiscal Impact:
Total Fiscal Impact: $71,717.67
Department of Community
Review Skipped
City Manager's Office
Office of Management and
Office of Management and
City Manager's Office
Legislative Division
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the City Clerk
Legislative Division
Office of the City Attorney
Office of the City Attorney
Reviewed B
and Economic Development
01/17/2024 9:25 AM
Larry M. Spring
Budget Luis Hernandez -Torres
Budget Marie Gouin
Arthur Noriega V
Valentin J Alvarez
Raymond Pereira
Victoria Mendez
Nicole Ewan
City Clerk's Office
Valentin J Alvarez
Raymond Pereira
Victoria Mendez
Carolina Aguila Department Head
Assistant City Manager Review
Budget Analyst Review
Budget Review
City Manager Review
Legislative Division Review
ACA Review
Approved Form and Correctness
Meeting
Rendered
Legislative Division Review
ACA Review
Approved Form and Correctness
Completed 01/31/2024 9:53 AM
Completed 01/31/2024 5:08 PM
Completed 01/31/2024 6:11 PM
Completed 02/05/2024 2:49 PM
Completed 02/05/2024 3:00 PM
Completed 02/08/2024 3:49 PM
Completed 02/12/2024 10:29 AM
Completed 02/22/2024 9:00 AM
Completed 02/26/2024 8:35 PM
Completed 03/06/2024 10:51 AM
Completed 03/06/2024 11:27 AM
Completed 03/06/2024 12:17 PM
City of Miami
Legislation
Resolution
Enactment Number: R-24-0068
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 15413 Final Action Date:2/22/2024
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTNERSHIPS
PROGRAM ("HOME") FUNDS GENERATED FROM OCTOBER 1, 2023 TO
DECEMBER 31, 2023, IN THE AMOUNT OF $10,067.67 AND AN ADDITIONAL
AMOUNT OF $61,650.00 OF RECAPTURED FUNDS FOR A TOTAL AMOUNT OF
$71,717.67, AS SPECIFIED IN EXHIBIT "A," ATTACHED AND INCORPORATED;
FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE
ALL THE NECESSARY DOCUMENTS, INCLUDING AMENDMENTS, EXTENSIONS,
AND MODIFICATIONS, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY,
SUBJECT TO ALL FEDERAL, STATE AND LOCAL LAWS THAT REGULATE THE
USE OF SUCH FUNDS, FOR SAID PURPOSES.
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, and are required to be used for eligible program
activities; and
WHEREAS, from October 1, 2023, to December 31, 2023, the Department collected an
amount of $10,067.67 in Home Investment Partnerships Program ("HOME") program income
and an amount of $61,650.00 in recaptured funds for a total of $71,717.67 ("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 the stated 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:
ndez, City Attor
2112/2024 (ViLt6riai ndez, City Attor ey ) 3/6/2024