HomeMy WebLinkAboutMaster ReportFile Number: 6922
Revision: A
City of Miami
Master Report
Enactment Number: R-19-0508
File Type: Resolution
File Name: Create - Affordable Housing Ownership Program
Requesting Dept: Commissioners and Mayor
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Status: ADOPTED WITH
MODIFICATION(S)
Controlling Body: City Commission
Introduced: 12/3/2019
Final Action Date: 12/12/2019
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION APPROVING THE CREATION OF
THE AFFORDABLE HOMEOWNERSHIP LOAN PROGRAM ("PROGRAM") FOR THE
CITY OF MIAMI ("CITY") TO BORROW, PROCURE, AND OBTAIN VARIOUS
EXTERNAL AND INTERNAL FUNDING SOURCES IN A TOTAL AGGREGATE
PRINCIPAL AMOUNT UP TO TWO HUNDRED FIFTY MILLION DOLLARS
($250,000.000.00) FOR LAND ACQUISITION AND CONSTRUCTION TO ASSIST
ELIGIBLE LOW TO MODERATE INCOME CITY RESIDENTS THROUGH REVOLVING
LOANS TO BECOME HOMEOWNERS IN OWNER -OCCUPIED HOMESTEADED
DWELLINGS OR UNITS WITHIN THE CITY LIMITS TO BE REIMBURSED TO THE
CITY AS HOMEOWNERS OBTAIN MORTGAGE LOANS, ALL SUBJECT TO (1)
CREATION OF THE AFFORDABLE HOMEOWNERSHIP LOAN PROGRAM TASK
FORCE ("TASK FORCE") AND APPOINTMENTS OF THE MEMBERS THEREOF, (2)
ANALYSIS AND DEVELOPMENT OF PROGRAM REQUIREMENTS, POLICIES, AND
GUIDELINES BY THE TASK FORCE TO BE PROVIDED TO THE CITY COMMISSION
BY THE END OF MARCH 2020, AND (3) FUTURE CITY COMMISSION APPROVALS
OF ALL EXTERNAL AND INTERNAL FUNDING SOURCES, PROCUREMENTS,
ALLOCATIONS, LOANS, AND GRANTS TO THE CITY AND REVOLVING LOAN FUND
REQUIREMENTS.
Sponsor(s): Commissioner Joe Carollo
Notes:
Links:
Attachments: 6922 Exhibit A (OBSOLETE) (PDF)
History of Legislative File:
Revision:
Acting Body:
Date:
Action:
Victoria Mendez
12/3/2019
Approved Form and
Correctness
City Commission
12/12/2019
Meeting
City Commission
12/12/2019
ADOPTED WITH
MODIFICATION(S)
A
Mayor's Office
12/23/2019
Unsigned by the Mayor
A
City Clerk's Office
12/23/2019
Signed and Attested by the City
Clerk
A
Victoria Mendez
12/26/2019
Approved Form and
Correctness with Modification(s)
A
City Clerk's Office
12/27/2019
Rendered
City of Miami
Page 1 of 1
Result:
Completed
Completed
Passed
Completed
Completed
Completed
Completed
Printed on: 12/27/2019