HomeMy WebLinkAboutR-24-0398City of Miami
Resolution R-24-0398
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 16676 Final Action Date: 10/15/2024
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
MODIFYING THE REQUIREMENTS AND GUIDELINES OF THE INFILL FIRST-
TIME HOMEBUYER EXPANDED PROGRAM, AS DESCRIBED IN
RESOLUTION NO. R-24-0260 ("EXPANDED PROGRAM"), BY REQUIRING
APPLICANTS TO SECURE A FIRST MORTGAGE IN AN AMOUNT THAT
WOULD RESULT IN A TOTAL PAYMENT, INCLUSIVE OF PRINCIPAL,
INTEREST, TAXES, AND INSURANCE, UP TO THIRTY PERCENT (30%) OF
THE APPLICANT'S TOTAL GROSS FAMILY INCOME AS IDENTIFIED IN
EXHIBIT "A," ATTACHED AND INCORPORATED; EXCEPT FOR THE
EXCEPTIONS STATED HEREIN; PROVIDING FOR AN EFFECTIVE DATE.
SPONSOR(S): City Commission
WHEREAS, on July 11, 2024, pursuant to Resolution No. 24-0260, the Miami City
Commission established the Infill First -Time Homebuyer Expanded Program ("Infill Expanded
Program"), allocating funds from the American Rescue Plan Act ("ARPA") and the City of Miami
Forever Bonds ("MFB"); and
WHEREAS, the Infill Expanded Program will provide up to Two Hundred Thousand
Dollars ($200,000.00) to qualified income eligible households to assist with the acquisition,
financing and downpayment assistance as needed for the purchase of a home built by the City
of Miami ("City"); and
WHEREAS, the current Infill Expanded Program guidelines requires applicants to secure
a first mortgage in an amount that would result in a total payment, inclusive of principal, interest,
taxes and insurance, equal to thirty percent (30%) of the applicant's total gross family income;
and
WHEREAS, it is in the best interest of the City to modify the Infill Expanded Program's
guidelines to require applicants to secure a first mortgage in an amount that would result in a
total payment, inclusive of principal, interest, taxes and insurance, up to thirty percent (30%) of
the applicant's total gross family income as identified in Exhibit "A," attached and incorporated;
and
WHEREAS, except as described herein, no other portion of the Infill Expanded Program
shall be impacted by this Resolution;
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.
City of Miami Page 1 of 2 File ID: 16676 (Revision:) Printed On: 8/7/2025
File ID: 16676 Enactment Number: R-24-0398
Section 2. The City Commission authorizes' the modification of the Infill Expanded
Program requirements and guidelines by requiring applicants to secure a first mortgage in an
amount that would result in a total payment, inclusive of principal, interest, taxes, and insurance,
up to thirty percent (30%) of the applicant's total gross family income as identified in Exhibit "A,"
attached and incorporated.
Section 3. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
ge Wy j ng III, C y ttor -y 10/1/2024
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 2 of 2 File ID: 16676 (Revision:) Printed on: 8/7/2025