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93-20756 Reso~ ~s r s ~- i,~7 RESOLUTION NO. 93-20756 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, DESIGNATING THE MIAMI BEACH DEVELOPMENT CORPORATION, INC. AS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION. WHEREAS, on February 18, 1992, the City received notification from the U.S. Department of Housing and Urban Development (HUD) -that Miami. Beach has been designated as a participating jurisdiction to receive $1,846,000 in funding through the new HOME Investment Partnership Program; and ~TIiEREAS ; t'he= ° HOME- program~~i s ~-des ~g-ned=-to-=e~xpa~c~ =the-.-st:pp.l_y.: -o:f ;.,:~:,__.:.- ~_ __ ~ .,, decent and affordable housing and encourages partnerships with the private sector and nonprofit housing providers; and WHEREAS, in accordance with the HOME regulations, the City must reserve 15 percent of its allocation for investment in housing to be developed, sponsored or owned by Community Housing Development Organizations (CHDOs); and WHEREAS, the regulations require that the City identify CHDOs within its area that are capable, or can reasonably be expected to become capable, of~carrying out elements of t_he City's approved housing strategy; and WHEREAS, the Miami Beach Development Corporation represents that its current. legal- status, capacity, organizational structure and relationship with for-profit entities is such that as an organization it is eligible to be certified as a CHDO in accordance with HUD requirements. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF~~ THE CITY OF~ MIAMI ~ BEACH; FLORTDA; ~ that the City hereby designates the Miami Beach Development Corporation, Inc. as a Community Housing Development Oz PASSED AND ADOPTED THIS <'8th 4 .ATTEST:':- '°~ CITY CLERK