Resolution 86-18618 •
RESOLUTION NUMBER 86-18618
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 5467 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 Twelve 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 $2,367,634 in block grant resources; of which
$1,913,000 are Year Twelve entitlement funds, and $154,634 are
reprogrammed prior year funds, and $300,000 is anticipated program
income, of which $76,250 is available for Year Twelve 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 the Lincoln Road Mall
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 Seventy
Thousand dollars ($70,000) from CDBG funds, to be used for the above
stated purpose; 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 1st DAY OF October , 1986.
/ /
YAR
ATTEST:
h) M APPROVED
Vfetu-,:e ??-> LEGAL DEPT.
CITY CLERK gA\` � &MA-
Date 16
v i\1 VLkNn.0
RESOLUTION NO. 86-18618
(Authorizing and directing the execution
of an agreement between the City of Miami
Beach and the Lincoln Road Development _ .
Corporation, Ince , for the purpose of
funding a special economic development
activity)