RESOLUTION 93-20756 40
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
WHEREAS, the HOME program is designed to expand the supply of
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 the 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, FLORIDA, that the City
hereby designates the Miami Beach Development Corporation, Inc. as
a Community Housing Development Organizat ' .
PASSED AND ADOPTED THIS 8th DAY • " April , • •3 ,
4111AI:10f vy-
MAYOR
"141 ATTEST:
CITY CLERK
FORM APPROVED
LEGAL DEPT.
6
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- 2- g.3
Date
RESOLUTION NO. 93-20756
Designating the Miami Beach Development
Corporation, Inc. as a Community Housing
Development Orgination.