HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM Law Department
Awa '`ry`� Matter ID No.
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FILE ID: 15-01159
Date: 08/28/2015 Requesting Department: Community & Economic Develo merit
Commission Meeting Date: 10/08/2015 District Impacted: 4
Type: M Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: ALLOCATION OF ("CDBG") D4 ECONOMIC DEVELOPMENT LOAN FUNDS TO
C & H AESTHETIC CENTER, CORP.
rurpose oz item:
AUTHORIZING THE ALLOCATION OF COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS
("CDBG") IN THE AMOUNT OF $100,000 FROM THE D4 ECONOMIC DEVELOPMENT LOAN
PROGRAM FUND; ALLOCATING SAID FUNDS TO C & H AESTHETIC CENTER, CORP FOR JOB
CREATION; UNDER THE TERMS AND CONDITIONS SPECIFIED IN ATTACHMENT "A",
AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENTS FOR SAID
PURPOSE.
Background Information:
Please see attached
Budget Impact Analis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No.-
Special
o:
Special Revenue Account No: TO BE DETERMINED
CIP Project No.-
NO
o:NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: $100,000
Final Approvals
;(SIGN AND DATE)
CIP Budg
If using or receiving capital funds
Grants, ; Risk
Purchasing. Dept.
Chief " Af, City I
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No. 09-0298, adopted June 18, 2009, the Miami City Commission approved
the Economic Development Loan Fund Program Guidelines which governs the allocation of CDBG
funds to Focal businesses for job creation or retention.
On October 8t", 2015, pursuant to Resolution No. the Miami City Commission
approved the allocation of $100,000 to the D4 Economic Development Loan Program Fund.
C & H Aesthetic Center, Corp ("C & H") is a State of Florida corporation located at 3400 Coral Way,
Suite 101, in Miami which specializes in body treatments, facial treatments, medical treatments, IPL
treatments and electrolysis.
C & H has been in business for over five years and is owned by Ms. Helena Y. Sir -Ayala, who has
over 14 years experience in the aesthetic industry and possess various licenses in the industry.
C & H will be required to create 3 new jobs, of which more than 51% (2) will go to low and moderate
income residents.
The Administration recommends the allocation of CDBG funds from the D4 Economic Development
Loan Program Fund in the amount of $100,000 to C & H for economic development activities,
specifically job creation, under the terms and conditions as specified in Attachment "A".