RESOLUTION 88-19390 RESOLUTION NUMBER 88-19390
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING AND
DIRECTING THE EXECUTION OF AN AGREEMENT
BETWEEN THE CITY OF MIAMI BEACH AND THE
LINCOLN ROAD DEVELOPMENT CORPORATION, INC.
FOR THE PURPOSE OF FUNDING A SPECIAL
ECONOMIC DEVELOPMENT ACTIVITY
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, THAT,
WHEREAS, the City of Miami Beach, hereinafter referred to as the
"City", is authorized by Commission Memorandum Number )467 dated
January 21, 1976 to prepare an Application for a Community Development
Block Grant, hereinafter referred to as "CDBG Funds" and to design and
implement such systems as are necessary to insure that the Community
Development Program is developed, conducted and administered in
accordance with Title I of the Housing and Community Development Act
of 1974, as amended, and any Federal Regulations promulgated
thereunder, as well as applicable State and Local Authorities, and in such
capacity is authorized to enter into and execute agreements with other
Departments and Agencies within the City; and
WHEREAS, the City has duly submitted the Year Fourteen Final
Statement of Objectives and Projected Use of Funds to the United States
Department of Housing and Urban Development, hereinafter referred to
as "HUD", for a total of $2,560,791 in block grant resources; of which
$1,812,000 are Year Fourteen entitlement funds, and $4)0,991 are
reprogrammed prior year funds, and $297,800 is estimated program
income, of which only $27,800 is available for Year Fourteen projects; and
WHEREAS, the City desires to enter into a contract with the
Lincoln Road Development Corporation, Inc., hereinafter referred to as
the "Provider", for the purpose of funding a Lincoln Road revitalization
and economic development program in order to achieve the highest level
of commercial activity in the Lincoln Road district; and
WHEREAS, the Provider will receive a total amount of Ninety-Five
Thousand Eight Hundred Eighty-Four dollars ($95,884) from Year Fourteen
(14) CDBG funds, to be used for the above stated purpose. In addition, the
Provider will receive the unexpended balance of Year Thirteen (13) CDBG
funds allocated for the Lincoln Road MallManagement Program; and
WHEREAS, the CDBG funds are conditional upon the approval for
release of funds from HUD; and
WHEREAS, the City Manager has recommended to the City
Commission that said Agreement be entered into; and
WHEREAS, an appropriate Agreement has been prepared and has
been approved as to legal form and sufficiency by the City Attorney,
which Agreement sets forth the terms and conditions of said project; and
WHEREAS, the City Commission deems it to be in the best interests
of the City and its residents and citizens that said Agreement be entered
into;
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the
Mayor and City Clerk are hereby authorized and directed to execute an
agreement with the Lincoln Road Development Corporation, Inc., on
behalf of the City, and the disbursing officers of the City are hereby
authorized and directed to disburse the funds required by the terms of
said Agreement from CDBG funds hereafter allocated for said purpose.
PASSED AND ADOPTED THIS 5th DAY OF October , 1988.
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-411016.
M; OR
ATTEST:
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CITY CLERK
FORM APPROVED
LE DE'T�
By
Date
ORIGINAL
RESOLUTION NO. 88-19390
(Authorizing and directing the execution
of an agreement between the City of Miami
Beach and the Lincoln Road Development
Corporation, Inc. , for the purpose of
funding a Special Economic Development
Activity)