HomeMy WebLinkAbout2011-181-1574 - Amending NSP3 Plan City of Miami Gardens Agenda Cover Memo Council Meeting Date: November 9, 2011 Item Type: (Enter X in box) Resolution Ordinance Other X Fiscal Impact: (Enter X in box) Yes No Ordinance Reading: (Enter X in box) 1 st Reading 2 nd Reading X Public Hearing: (Enter X in box) Yes No Yes No X Funding Source: Neighborhood Stabilization Program Round 3 (NSP3) Advertising Requirement: (Enter X in box) Yes No X Contract/P.O. Required: (Enter X in box) Yes No RFP/RFQ/Bid #: N/A X Strategic Plan Related (Enter X in box) Y es No Strategic Plan Priority Area: Enhance Organizational Bus. & Economic Dev Public Safety Quality of Education Qual. of Life & City Image Communication Strategic Plan Obj./Strategy: (list the specific objective/strategy this item will address)N/A X Sponsor Name Dr. Danny Crew, City Manager Department: Community Development Short Title: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MIAMI GARDENS, FLORIDA, AMENDING THE CITY’S NSP3 PLAN TO INCLUDE REDEVELOPMENT AND RENTAL ACTIVITIES IN ACCORDANCE WITH TABLE 2 INCLUDED IN THE AGENDA MEMO; PROVIDING FOR THE ADOPTION OF REPRESENTATIONS; PROVIDING FOR AN EFFECTIVE DATE. Staff Summary: Background On July 21, 2010, the Dodd ‐Frank Wall Street Reform and Consumer Protection Act of 2010 was passed. The bill provided for a third, one ‐time appropriation of 970 million in additional Neighborhood Stabilization Program (NSP3) funds. These funds were allocated to entitlement States and Cities by formula. The City of Miami Gardens’ allocation of NSP3 funds is $1,940,337. ITEM J-1) RESOLUTION PUBLIC HEARING Amending the NSP3 Plan
1515 NW 167 Street, Building 5 Suite 200 Miami Gardens, Florida 33169 On February 23, 2011, the City Council approved the Substantial Amendment (NSP3 Application) to the 2010 ‐2011 Annual Action Plan which depicted the proposed activities to be carried out and the budgets allocated for each activity. The Plan was subsequently submitted to and approved by the U.S. Department of Housing and Urban Development. In June 2011, the City of Miami Gardens solicited proposals from qualified developers for the use of NSP3 funds to create affordable housing opportunities within the City. Staff recommended two (2) proposals for funding which were approved by the City Council on September 14, 2011, RUDG ‐The Commons, LLC and the Miami ‐Dade Affordable Housing Foundation, Inc. Current Situation The City’s Plan included the acquisition, rehabilitation and resale of abandoned and foreclosed single family properties but it did not include the redevelopment of foreclosed vacant land nor did the Plan include rental housing as it only specifies homeownership. The project to be carried out by RUDG ‐The Commons, LLC entails the redevelopment of vacant land for rental housing. In order to proceed with the expenditure of these funds, it becomes necessary to amend the NSP3 Plan to include redevelopment and rental activities. The funds will continue to benefit low ‐ and moderate ‐income persons. The budget will be amended by reducing the current activities and increasing the newly created activity. The following tables depict the original and proposed activities and budget. Existing NSP3 Budget (Table 1) Activity Amount NSP3 ‐01 Acquisition, Rehabilitation and Resale of abandoned and foreclosed single family properties for Low to Moderate Income Persons $1,211,220.00 NSP3 ‐02 Acquisition, Rehabilitation and Resale of abandoned and foreclosed single family properties for Low Income Persons $485,084.00 NSP3 ‐03 Clearance and Demolition of Blighted Properties $50,000.00 NSP3 ‐04 Program Administration $194,033.00 Total NSP3 Funds Allocated $1,940,337.00 Proposed NSP3 Budget (Table 2) Activity Amount NSP3 ‐01 Acquisition, Rehabilitation and Resale of abandoned and foreclosed single family properties for Low ‐ to Moderate ‐Income Persons $546,304.00 NSP3 ‐02 Acquisition, Rehabilitation and Resale of abandoned and foreclosed single family properties for Low ‐Income Persons $0.00
1515 NW 167 Street, Building 5 Suite 200 Miami Gardens, Florida 33169 NSP3 ‐03 Demolition of Blighted Properties $50,000.00 NSP3 ‐04 Program Administration $194,033.00 NSP3 ‐05 Redevelopment of Rental Housing Units for Low Income and Low ‐ to Moderate Income Persons $1,150,000.00 Total NSP3 Funds Allocated $1,940,337.00 Proposed Action: That the City Council approves the proposed resolution. Attachments: