HomeMy WebLinkAboutR-88-0070J-88-86
12/28/87
RESOLUTION NO. 98�' 70
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
SUBMIT AN AMENDMENT TO THE APPROVED
THIRTEENTH YEAR COMMUNITY DEVELOPMENT BLOCK
GRANT (CDBG) PROGRAM FINAL STATEMENT TO THE
U.S. DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT (HUD), INCREASING FUNDS IN THE
AMOUNT OF $594009000 FOR A COMMUNITY
DEVELOPMENT "FLOAT GRANT" ACTIVITY; THE
FREEDOM TOWER RESTORATION LOAN, DURING THE
1987-88 PROGRAM YEAR AND INCREASING REVENUES
IN THE AMOUNT OF INTEREST AT ONE PERCENT (100)
PER YEAR FOR TWO (2) YEARS; FURTHER
AUTHORIZING THE CITY MANAGER, UPON APPROVAL
OF SAID AMENDMENT BY HUD, TO NEGOTIATE THE
NECESSARY IMPLEMENTING CONTRACTS AND
AGREEMENTS TO IMPLEMENT THIS LOAN FOR THE
FREEDOM TOWER RESTORATION SUBJECT TO
APPLICABLE CITY CODE PROVISIONS, AND
CONDITION APPROVED BY RESOLUTION NO. 87-1104.
WHEREAS, the City Commission approved Resolution No. 87-567
on June 11, 1987, authorizing the submittal of an amendment to
the approved Community Development Block Grant Program Final
Statement in the amount of $11,940,000; and
WHEREAS, the City Commission approved Resolution No.87-1104
on December 10, 1987, authorizing the provision of $5,400,000 of
Community Development Block Grant Float funds to ZAMINCO
International, Inc., for restoration of the Freedom Tower
Building located at 602 Biscayne Boulevard; and
WHEREAS, this Community Development "Float Grant" activity
will result in an increase of program revenues in the amount of
$5,400,000 plus interest at one percent (1%) per year for a
period of two (2) years; and
CITY COMMISSION
MEETING OF
JAN 14 1988
)N No. 913--70
WHEREAS, said designation of Community Development Block
Grant Float funds by the City Commission requires amendment to
the previously submitted Community Development Program's Final
Statement;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to submit
an amendment to the approved Grant Program Final Statement to the
U.S. Department of Housing and Urban Development designating
funds in the amount of $5,400,000 for a Community Development
Program during 1987-88, increasing revenues in the amount of
$5,400,000 plus interest.
Section 2. The City Manager, as Chief Administrative
Officer for the City of Miami, upon approval of said amendment,
is hereby authorized to execute the necessary implementing
contracts and agreements to implement the 1987-88 Restoration of
Freedom Tower Loan "Float Grant" activity, subject to applicable
City Code provisions and conditions approved by Resolution No.
87-1104.
PASSED AND ADOPTED this 14thZdayanuary 1988.
.UARE AYOR
ATTES
OY
MATT kRAI.CITY CLERK
i -2-
9 03-70
COMMUNITY DEVELOPMENT REVIEW AND APPROVAL:
FRANK CASTAN DA, DIRECTOR
DEPARTMENT OF COMMUNITY DEVELOPMENT
FINANCE REVIEW AND APPROVAL:
r
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CARLOS GARCIAq qTRECTOR
FINANCE DEPARTMENT
BUDGETARY REVIEW AND APPROVAL:
ym
DEPT. OF MANAGEMENT BUDGET
PREPARED AND APPROVED BY:
/ 2 Z� ;7.
f ,C
ROBERT F. CLARK
CHIEF DEPUTY CITY ATTORNEY
APPROVED /$ TO FORM AND CORRECTNESS:
LOU Gin n. ✓ "
CITY ATTORNEY
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9 15--70
4C11
CITY OF MIAMI. FLORIDA
E�
INTER -OFFICE MEMORANDUM
TO. Honorable Mayor and Members
of the City Commission
DATE. 7� rA N 51900 FILE:
Proposed Resolution for
SUBJECT Amendment to 13th Year
Community Development
Final Statement/Public
FROM: d� REFERENCES: Hearing
Cesar H. Odio Commission Agenda Item
City Manager ENCLOSURES: January 14, 1988
RECONNENDATION:
It is respectfully recommended that the City Commission adopt the
attached resolution authorizing the City Manager to submit an
amendment to the 13th Year Community Development Program Final
Statement to the U.S. Department of Housing and Urban Development
designating funds in the amount of five million four hundred
thousand dollars ($5,4009000) as a Community Development "Float
Grant" Loan for restoration of the Freedom Tower building located
at 602 Biscayne Boulevard.
BACKGROUND:
The Department of Community Development has prepared the
appropriate legislation for this public hearing to be held on
amending the previously approved 13th Year Community Development
Program Final Statement.
The amendment up for discussion involves the provision of five
million four hundred thousand dollars ($5,400,000) of Community
Development "Float Grant" funds to ZAMINCO International, Inc.,
for restoration of the Freedom Tower building located in Downtown
Miami at 602 Biscayne Boulevard.
Attachment: Proposed Resolution
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