Allocate $127,157 in HOME program funds for housing activities

AGENDA ITEM SUMMARY FORM File ID: #17527 Date: 04/21/2025 Requesting Department: Department of Housing and Community Development Commission Meeting Date: 06/17/2025 Sponsored By: District Impacted: All Type: Resolution Subject: Allocate - HOME Program Income/Recaptured Funds - Jan - March 2025 Purpose of Item: ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTNERSHIPS (“HOME”) FUNDS GENERATED FROM JANUARY 1, 2025 TO MARCH 31, 2025, IN THE AMOUNT OF $13,788.21 AND AN ADDITIONAL AMOUNT OF $113,368.66 OF RECAPTURED FUNDS FOR A TOTAL AMOUNT OF $127,156.87, 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. 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 January 31, 2025, to March 31, 2025, the Department collected an amount of $13,788.21 in Home Investment Partnerships Program (“HOME”) program income and an amount of $113,368.66 in recaptured funds for a total of $127,156.87 (“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: $127,156.87 Reviewed By Department of Housing and Community Development Victor Turner Department Head Review Completed 04/21/2025 4:22 PM Office of Management and Budget Luis Hernandez-Torres Budget Analyst Review Completed 04/22/2025 6:41 AM Office of Management and Budget Marie Gouin Budget Review Completed 04/22/2025 11:49 AM City Manager’s Office Larry M. Spring Assistant City Manager Review Completed 04/22/2025 12:07 PM City Manager’s Office Natasha Colebrook-Williams Deputy City Manager Review Completed 04/22/2025 2:12 PM City Manager’s Office Arthur Noriega V City Manager Review Completed 04/23/2025 10:24 AM Legislative Division Valentin J Alvarez Legislative Division Review Completed 04/23/2025 12:55 PM Office of the City Attorney Raymond Pereira ACA Review Completed 05/08/2025 3:25 PM Office of the City Attorney George K. Wysong III Approved Form and Correctness Completed 05/08/2025 3:37 PM City Commission Todd B. Hannon Meeting Completed 05/22/2025 9:00 AM City Commission Nicole Ewan Meeting Completed 06/12/2025 9:00 AM City Commission Todd B. Hannon Meeting Pending 06/17/2025 9:00 AM City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com City of Miami Legislation Resolution File Number: 17527 Final Action Date: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), ALLOCATING PROGRAM INCOME FROM HOME INVESTMENT PARTNERSHIPS PROGRAM (“HOME”) FUNDS GENERATED FROM JANUARY 1, 2025 TO MARCH 31, 2025, IN THE AMOUNT OF $13,788.21 AND AN ADDITIONAL AMOUNT OF $113,368.66 OF RECAPTURED FUNDS FOR A TOTAL AMOUNT OF $127,156.87 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. WHEREAS, the Department of Housing and Community Development (“HCD”) 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 January 1, 2025, to March 31, 2025, HCD collected an amount of $13,788.21 in Home Investment Partnerships Program (“HOME”) program income and an amount of $113,368.66 in recaptured funds for a total of $127,156.87 (“Funds”); and WHEREAS, pursuant to HOME regulations 24 CFR Part 92.503, program income and recapture amounts must be used for eligible HOME activities; and WHEREAS, HCD 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.1 Section 3. The City Manager is authorized1 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 adoption2. 1 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 Code provisions. APPROVED AS TO FORM AND CORRECTNESS: 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.