HomeMy WebLinkAboutR-18-0505City of Miami
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Legislation
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Resolution: R-18-0505
File Number: 4919
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 11/15/2018
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING AN AMENDMENT TO THE CITY OF MIAMI'S ("CITY")
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT'S ("HCD")
ECONOMIC DEVELOPMENT LOAN FUND'S ("EDLF") PROGRAM POLICIES TO
INCLUDE ASSISTANCE IN CONVERTING EXISTING BUSINESSES'
OWNERSHIP STRUCTURES TO EMPLOYEE -OWNED OWNERSHIP
STRUCTURES, MAINLY THROUGH WORKERS' COOPERATIVES, AS MORE
PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND
INCORPORATED; AUTHORIZING THE ALLOCATION OF FUTURE
COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG") PROGRAM INCOME
TO THE EDLF PROGRAM SUBJECT TO THE AVAILABILITY OF FUNDS,
BUDGETARY APPROVAL AT THE TIME OF NEED, AND AUTHORIZATION
FROM THE CITY'S HOUSING AND COMMERCIAL LOAN COMMITTEE;
FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND
EXECUTE ANY AND ALL NECESSARY DOCUMENTS, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSES.
WHEREAS, pursuant to Resolution No. 09-0298 adopted on June 18, 2009, the City
Commission approved the Economic Development Loan Fund ("EDLF") Program policies to
provide businesses with financial assistance in order to support the retention and creation of
jobs for low to moderate income City of Miami ("City") residents; and
WHEREAS, the City's EDLF Program, which is administered by the Department of
Housing and Community Development ("HCD"), is available to certain businesses located or
planning to locate within the boundaries of the City; and
WHEREAS, the City was invited to participate in a Shared Equity in Economic
Development Fellowship Program ("SEED") by the National League of Cities, an Illinois not-for-
profit corporation, and the Democracy at Work Institute, a California non-profit corporation; and
WHEREAS, SEED encourages cities to develop strategies that create broad-based
business ownership opportunities for low-wage workers, women, immigrants, people locked out
of the job market, and communities of color; and
WHEREAS the City seeks to generate said opportunities by assisting in the creation of
sustainable employee -to -owner conversion cooperatives; and
WHEREAS, SEED will equip the City with resources, tools, and technical assistance
expertise by creating and supporting pathways to employee ownership models; and
WHEREAS, the models have proven to be an effective tool for creating and maintaining
sustainable, dignified jobs, generating wealth, improving the quality of life of workers, and
promoting community and local economic development, particularly for people who lack access
to business ownership or even sustainable work options; and
City of Miami Page 1 of 2 File ID: 4919 (Revision:) Printed On: 1/22/2019
File ID: 4919
Enactment Number: R-18-0505
WHEREAS, by funding the EDLF Program with future Community Development Block
Grant ("CDBG") program income, HCD will be able to assist businesses affected by the
constant road work in our community in order to continue to operate and retain jobs; and
WHEREAS, amending the EDLF Program policies will ensure that all commercial loans
provided by HCD are consistent with Federal regulations and all eligible businesses are treated
equally in the evaluation and terms of the loans; and
WHEREAS, the City Administration recommends the approval of the amendment of the
City's EDLF Program policies, as more particularly described in Exhibit "A," attached and
incorporated, and the approval of the allocation of future CDBG program income to the EDLF
Program subject to the availability of funds, budgetary approval at the time of need, and
authorization from the City's Housing and Commercial Loan Committee;
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. An amendment to the City's HCD's EDLF's Program policies to include
assistance in converting existing businesses' ownership structures to employee -owned
ownership structures, mainly through workers' cooperatives, as more particularly described in
Exhibit 'A" attached and incorporated, is authorized.
Section 3. The allocation of future CDBG program income to the EDLF Program subject
to the availability of funds, budgetary approval at the time of need, and authorization from the
City's Housing and Commercial Loan Committee, is authorized
Section 4. The City Manager is authorized' to negotiate and execute any and all
necessary documents, in a form acceptable to the City Attorney, for said purposes.
Section 5. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
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i ria i ndez, City Attor iey 11/1/2018
' The herein authorization is further subject to compliance with all requirements that may be imposed by
the City Attorney, including but not limited to, those prescribed by applicable City Charter and City Code
provisions.
2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File ID: 4919 (Revision:) Printed on: 1/22/2019