97-22263 RESO
RESOLUTION NO. 97-22263
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF
THE CITY OF MIAMI BEACH, AUTHORIZING THE
APPROPRIATION OF FISCAL YEAR 1995-96 STATE HOUSING
INITIATIVES PARTNERSHIP (SHIP) PROGRAM FUNDS, IN THE
AMOUNT OF $336,366, AND FISCAL YEAR 1996-97 SHIP
PROGRAM FUNDS, IN THE AMOUNT OF $358,006, OR THE
FINAL ALLOCATION AMOUNT AS ADJUSTED BY THE FLORIDA
HOUSING FINANCE AGENCY; FURTHER AUTHORIZING THE
APPROPRIATION OF ANY INTEREST ACCRUED THEREON, FOR
ELIGIBLE ACTIVITIES UNDER THE RULES OF THE SHIP
PROGRAM.
WHEREAS, the State of Florida enacted the William E. Sadowski Affordable Housin~1 A ~t
on July 7, 1992, allocating a portion of new and existing documentary stamp taxes on deeds 0
local governments for development and maintenance of affordable housing; and
WHEREAS, the City received notification from the Florida Housing Finance Agency th It
the City has been allocated funding in the amount of three hundred thirty-six thousand thn e
hundred sixty-six dollars ($336,366) for fiscal year 1995-96, and three hundred fifty-Edgllt
thousand six dollars ($358,006) for fiscal year 1996-97, through the State Housing Initia1iVl s
Partnership (SHIP) Program; and
WHEREAS, the Mayor and City Commission deem it to be in the best interest 01 tt e
residents and citizens of the City to appropriate the funds received through the State Housir g
Initiatives Partnership Program, in the amount of three hundred thirty-six thousand tlrE e
hundred sixty-six dollars ($336,366) and three hundred fifty-eight thousand six dolla s
($358,006), for a total of $694,372, and further authorize the appropriation of any intere:t
accrued thereon, for eligible activities under the rules of the SHIP Program.
NOW THEREFORE, BE IT RESOLVED BY THE MAYOR AND THE CITY COMMISSIO'\1
OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission here n
authorize the appropriation of fiscal year 1995-96 State Housing Initiatives Partnership (SHIP)
Program funds, in the amount of three hundred thirty-six thousand three hundred sixt)'-s x
dollars ($336,366), and fiscal year 1996-97 SHIP Program funds, in the amount of thre e
hundred fifty-eight thousand six dollars ($358,006), or the final allocation amount as adju:;te:::l
by the Florida Housing Finance Agency, and further authorize the appropriation of any intere: t
accrued thereon, for eligible activities under the rules of t SHIP Program.
PASSED AND ADOPTED THIS 22nd D
January
ATTEST:
J? 0 ~ (j reM- c1v----
CITY CLERK
~
City . ~
F:\DDHP\CH\RESO\SHPAPR9i ..RE :;
);1'//)
Date
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
CITY OF MIAMI BEACH
COMMISSION MEMORANDUM NO. 3Q..,. Co}..,
TO:
FROM:
Mayor Seymour Gelber and
Memben of the City Commission
Jose Garcia-pedrosa~. '. /.J
City Manager ~ r
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, AUTHORIZING THE APPROPRIATION OF FISCAL YEAR 19H5-
96 STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM FUNDS,
IN THE AMOUNT OF $336,366, AND FISCAL YEAR 1996-97 SHIP PROGRAM
FUNDS, IN THE AMOUNT OF $358,006, OR THE FINAL ALLOCATION
AMOUNT AS ADJUSTED BY THE FLORIDA HOUSING FINANCE AGENCY;
FURTHER AUTHORIZING THE APPROPRIATION OF ANY INTEREST
ACCRUED THEREON, FOR ELIGIBLE ACTIVITIES UNDER THE RULES OF THE
SHIP PROGRAM.
DATE:
January 22, 19n7
SUBJECT:
ADMINISTRATION RECOMMENDATION:
The Administration recommends the adoption of the attached Resolution of the Mayor and City
Commission authorizing the appropriation of fiscal year 1995-96 State Housing Initiatives
Partnership (SHIP) Program funds in the amount of $336,366, and fiscal year 1996-97 SI-IP
Program funds in the amount of $358,006, or the final allocation amount as adjusted by the Florida
Housing Finance Agency (FHFA), and further authorizing the appropriation of any interest accrued
thereon, for eligible activities under the rules of the SHIP Program.
BACKGROUND:
The City is a recipient of state grant funds from the Florida Housing Finance Agency for the Stelte
Housing Initiatives Partnership (SHIP) Program. The SHIP Program, administered through the
Florida Housing Finance Agency, was established by the 1992 William E. Sadowski Affordable
Housing Act, and was specifically created to stimulate the production of affordable housing
statewide. SHIP Program funds derive from set-aside allocations from documentary stamp levies
on real estate transactions. In 1995, for the first time, Dade County and cities within Dade,
including Miami Beach, received a share of the SHIP Program funds.
The City received $336,366 in fiscal year 1995-96 SHIP funds. Of this allocation, $302,729, plus
interest earnings of $1 ,779 accrued through June 30, 1996 (end of the State of Florida fiscal yecr),
were available for eligible activities. The balance is for administration costs of the City. On
December 4, 1994, the City awarded Miami Beach Development Corporation (MBDC) $304,5:J8
in fiscal year 1995-96 SHIP Program funds for the "Scattered-site,Home Ownership Program".
DATE
C "1 .:;
, - 2~~ - ~ ..,
AGENDA ITEM
COMMISSION MEM 0
JANUARY 22, 19~117
PAGE 2
For fiscal year 1996-97, the City has been allocated $358,006 in SHIP Program funds. Of tris
allocation, $322,206, plus any interest accrued from July 1, 1996 through June 30, 1997, is to be
made available for eligible activities under the SHIP Program rules. The fiscal year 1996-~17
allocation may be adjusted by the FHFA depending on actual documentary stamp tax revenUE!S
collected by the State.
ANALYSIS:
Although Resolution 95-21566 of May 3, 1995, adopting the SHIP Housing Assistance Pia"
identified the initial allocation amount for fiscal year 1995-96, this Resolution did not provide f,)r
appropriation of the funds upon final approval of the Plan by the FHFA. The attached Resoluticln
appropriates the fiscal year 1995-96 SHIP funds -allocation, and in addition appropriates the
allocation for fiscal year 1996-97, and the accrued interest on the funds received by the City.
In accordance with the adopted SHIP Housing Assistance Plan, a Notice of Funds Availability
(NOF A) process for fiscal year 1995-96 funds was conducted by the City beginning on October 17,
1996. MBDC submitted a responsive proposal to the NOFA; no other response was received by
the City. On December 4, 1996, by Resolution number 96-22220, the City awarded $304,509 :0
Miami Beach Development Corporation (MBDC) for the successful "Scattered-site Horr e
Ownership Program", providing for the rehabilitation of a minimum of ten (10) scattered-sij e
condominium units prior to their purchase by income-eligible home buyers.
The City's SHIP Program allocation for fiscal year 1996-97 is $358,006. Ten percent (10%) of this
allocation will be reserved for program administration in accordance with SHIP Program rules ard
,; Resolution number 95-21568. The remaining balance of allocated funds, plus any interest accrue d
from July 1, 1996 through June 3D, 1997, will be made available through a NOFA process durirg
this fiscal year for eligible activities under the SHIP Program rules.
CONCLUSION:
The Administration recommends the adoption of the attached Resolution of the Mayor and Cily
Commission authorizing the appropriation of fiscal year 1995-96 State Housing Initiative s
Partnership (SHIP) Program funds in the amount of $336,366, and fiscal year 1996-97 SHIP
Program funds in the amount of $358,006, or the final allocation amount as adjusted by the Florica
Housing Finance Agency, and further authorizing the appropriation of any interest accrued thereon,
for eligible activities under the rules of the SHIP Program.
JGP/H~MDC/CAH
F:\DDHP\CH\RESO\SHPAPR97 .ME M