HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #16880
Date: 10/31/2024
Commission Meeting Date: 12/12/2024
Requesting Department: Department of
Housing and Community Development
Sponsored By: City Commission
District Impacted: All
Type: Resolution
Subject: Allocate - HOME Program Income/Recaptured funds
Purpose of Item:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTNERSHIPS
("HOME") FUNDS GENERATED FROM MAY 1, 2024 TO SEPTEMBER 30, 2024, IN
THE AMOUNT OF $1,453.00 AND AN ADDITIONAL AMOUNT OF $86,020.00 OF
RECAPTURED FUNDS FOR A TOTAL AMOUNT OF $87,473.00, 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 PURPOSE.
Background of Item:
The Department of Housing and Community Development ("Department") receives
diverse types of repayments from loans provided to developers and homeowners which
are required to be used for eligible program activities.
From May1, 2024, to September 31, 2024, the Department collected an amount of
$1,453.00 in Home Investment Partnerships Program ("HOME") program income and
an amount of $86,020.00 in recaptured funds for a total of $87,473.00 ("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 has NOT an Expenditure
Item is NOT Related to Revenue
Item is NOT funded by Bonds
Total Fiscal Impact:
Total Fiscal Impact: $87,473.00
Department of Housing and Community Development
Review Completed
Office of Management and Budget
Office of Management and Budget
City Manager's Office
City Manager's Office
Legislative Division
City Manager's Office
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the City Clerk
Reviewed B
11/15/2024 11:14 AM
Luis Hernandez -Torres
Marie Gouin
Larry M. Spring
Natasha Colebrook -Williams
Valentin J Alvarez
Arthur Noriega V
Raymond Pereira
George K. Wysong III
Maricarmen Lopez
City Clerk's Office
Victor Turner
Budget Analyst Review
Budget Review
Assistant City Manager Review
Deputy City Manager Review
Legislative Division Review
City Manager Review
ACA Review
Approved Form and Correctness
Meeting
Rendered
Department Head
Completed 11/15/2024 12:09 PM
Completed 11/20/2024 9:54 AM
Completed 12/03/2024 12:53 PM
Completed 12/03/2024 1:36 PM
Completed 12/03/2024 1:44 PM
Completed 12/03/2024 4:58 PM
Completed 12/03/2024 6:18 PM
Completed 12/03/2024 8:12 PM
Completed 12/12/2024 9:00 AM
Completed 12/17/2024 4:40 PM
City of Miami
Legislation
Resolution
Enactment Number: R-24-0493
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 16880 Final Action Date:12/12/2024
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTNERSHIPS
("HOME") FUNDS GENERATED FROM MAY 1, 2024 TO SEPTEMBER 30, 2024, IN
THE AMOUNT OF $1,453.00 AND AN ADDITIONAL AMOUNT OF $86,020.00 OF
RECAPTURED FUNDS FOR A TOTAL AMOUNT OF $87,473.00, 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 required to be used for eligible program activities; and
WHEREAS, from May 1, 2024, to September 30, 2024, the Department collected an
amount of $1,453.00 in Home Investment Partnerships Program ("HOME") program income and
an amount of $86,020.00 in recaptured funds for a total of $87,473.00 ("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, subject to all federal, state
and local laws that regulate the use of such funds, 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: