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City of Miami
Resolution R-24-0068
Legislation
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),
i ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT
6-:)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.
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.
City of Miami
Page 1 of 2 File ID: 15413 (Revision:) Printed On: 5/17/2024
15413 Legislation -SUB
File ID: 15413
THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP
ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT.
Enactment Number: R-24-0068
wAiw .!
•
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
na
dez, ity Attor
2/12/2024 . t6ria
City of Miami Page 2 of 2 File ID: 15413 (Revision:) Printed on: 5/17/2024
City of Miami
Legislation
Resolution
SUBSTITUTED
City Hall
3500 Pan American Driv
Miami, FL 33133
www.miamigov.co
File Number: 15413
Final Actio ' ate:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTN ' SHIPS
PROGRAM ("HOME") FUNDS GENERATED FROM OCTOBER 1, 2023
i DECEMBER 31, 2023, IN THE AMOUNT OF $10,067.67 AND AN ADD ONAL
AMOUNT OF $61,650.00 OF RECAPTURED FUNDS FOR A TOTAL OUNT OF
$71,717.67, AS SPECIFIED IN EXHIBIT "A," ATTACHED AND INC' PORATED;
FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATAND EXECUTE
ALL -THE NECESSARY DOCUMENTS, INCLUDING AMENDM. TS, EXTENSIONS,
AND: MODIFICATIONS, ALL IN A FORM ACCEPTABLE TO ' E CITY ATTORNEY,
SUBJECT TO ALL FEDERAL, STATE AND LOCAL LAWS AT REGULATE THE
USE OF SUCH FUNDS, FOR SAID PURPOSES.
WHEREAS, the Department of Housing and Com ity Development ("Department")
receives diverse types of repayments from loans provide' o developers and homeowners,
which are referred to as program income, and are req ed to be used for eligible program
activities; and
WHEREAS, from October 1, 2023, to De• -tuber 31, 2023, the Department collected an
amount of $10,067.67 in Home Investment Pa ► erships Program ("HOME") program income
and an amount of $61,650.00 in recaptured ds for a total of $71,717.67 ("Funds"); and
WHEREAS, pursuant to HOME r-.ulations 24 CFR Part 92.503, program income and
recapture amount must be used for ell • .le HOME activities; and
WHEREAS, the Departme recommends allocating the Funds to the eligible HOME
activities specified in Exhibit "A," attached and incorporated;
NOW, THEREFORE :E IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The -citals and findings contained in the Preamble to this Resolution are
adopted by referenc- and incorporated as if fully set forth in this Section.
Section he allocation of the Funds to the eligible HOME activities specified in Exhibit
"A," attached . d incorporated, is authorized.'
Se' ion 3. The City Manager is authorized' to negotiate and execute any and all
necessdocuments, 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.
SUBSTITUTED
APPROVED AS TO FORM AND CORRECTNESS: