Amendment 1 to SHIP Program x012- a&oq0
AMENDMENT NO. 1
TO STATE HOUSING INITIATIVES PARTNERSHIP AGREEMENT,
DATED JUNE 9, 2010, BETWEEN THE CITY OF MIAMI BEACH AND
MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION
FISCAL YEAR 2009-2010
THIS AMENDMENT NO. 1 to the State Hof, Initiatives artnership (SHIP) Program
agreement dated June 9, 2010, is entered into this � day of IWA V 2012, by and
between the CITY OF MIAMI BEACH, a Florida municipal corporation, having its principal office at
1700 Convention Center Drive, Miami Beach, Florida, (City), and Miami Beach Community
Development Corporation, a Florida not-for-profit corporation,with offices located at 945 Pennsylvania
Avenue, Miami Beach, Florida 33139.
WITNESSETH:
WHEREAS,the State Housing Initiatives Partnership(SHIP)Program,administered through the
Florida Housing Finance Corporation, was established by the 1992 William E. Sadowski Affordable
Housing Act to stimulate the production of housing Statewide; and
WHEREAS,the Mayor and City Commission,via City Commission Resolution No.2009-27174,
authorized the execution of an agreement with Miami Beach Community Development Corporation
(MBCDC), providing funding in the amount of$39,321.90 to carry out SHIP Program activities; and
WHEREAS,the Administration determined that$45,938.97 of interest income has accrued on
the SHIP Program pooled cash bank account, which is considered program income; and
WHEREAS, the Fiscal Year 2009-2010 Agreement has an expiration date of June 30, 2010;
and
WHEREAS,at the instruction of Florida Housing Finance Corporation,the FY 2009/2010 SHIP
Agreement shall be amended to extend the term through December 31,2012 and the program income
of$45,938.97 shall be provided for affordable housing activities; and
WHEREAS,the Mayor and City Commission,via City Commission Resolution No.2012-28040,
authorized the execution of an amendment to the agreement with Miami Beach Community
Development Corporation (MBCDC), to provide funding in the amount of $45,938.97 to provide
homebuyer and rehabilitation assistance to on income-eligible household in North Beach, and to
extend the term of the agreement.
NOW, THEREFORE, in consideration of the mutual promises contained herein, the parties
hereby amend the Agreement as follows:
1. Section IX (a), on page 4 of the Agreement, is amended to include the following:
SHIP funds in the amount of $45,938.97 is allocated to be used to provide homebuyer and
rehabilitation assistance to one income-eligible household in North Beach,and this Amendment
shall be considered to have commenced on June 30, 2010 and shall terminate on December
31, 2012,with-the understanding that at the end of the Agreement,the City has the authority to
re-appropriate any remaining unused funds.
2. All other terms and conditions of the Agreement shall remain unchanged and in full force and
effect.
IN WITNESS WHEREOF, the parties hereto execute this Amendment No. 1 as of the
day and date first above written.
ATTEST: Miami Beach Community Development
Corporation
a Florida not-for-profit corporation
�� ecretary Roberto Datorre, resident
ATTEST: CITY OF MIAMI BEACH
a Florida Municipal Corporation
City Clerk r
k
INCORP ORATED: . .
H 26
F:\RHCD\$ALL\HSG-CD\Richard\SHIP\SHIP FY2009-10 MBCDC Agreement Amendment
APPROVED AS TO
FORM & LANGUAGE
&FOR ECUTION
V
A orne r Date