Approval of $500,000 Funding for Little Haiti Housing Project

Original title: RESOLUTION APPROVING PROPOSED FISCAL YEAR 2015 LITTLE HAITI SMALL DEVELOPMENTS DOCUMENTARY STAMP SURTAX FUNDING RECOMMENDATION IN AN AMOUNT UP TO $500,000.00 IN FISCAL YEAR 2015 DOCUMENTARY STAMP SURTAX FUNDS TO IAMI REAL ESTATE INVESTMENTS, LLC HOUSING PROJECT; AND AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR'S DESIGNEE TO AWARD SUCH FUNDS, TO EXECUTE AMENDMENTS, SHELL CONTRACTS, LOAN DOCUMENTS AND OTHER TRANSACTIONAL DOCUMENTS NECESSARY TO ACCOMPLISH THE PURPOSES SET FORTH IN THIS RESOLUTION, AND TO EXERCISE TERMINATION, WAIVER, ACCELERATION AND OTHER PROVISIONS SET FORTH THEREIN (Public Housing and Community Development)

Record date · May 8, 2018

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What This Bill Does

This resolution authorizes the allocation of up to $500,000 in 2015 funds to support a housing project by IAMI Real Estate Investments, LLC in Little Haiti. It also grants the County Mayor or their designee the authority to manage the contract, loan documents, and any necessary legal amendments related to this funding.

Why it matters

The county is committing $500,000 in public tax funds to a private real estate developer for a specific housing project in the Little Haiti neighborhood.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

IAMI Real Estate Investments, LLC

The entity is the recipient of up to $500,000 in public funding for a housing project.

Directly affected

Little Haiti residents

The community is the site of the housing project funded by this resolution.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Where is the money for this project coming from?

The funding is sourced from the Fiscal Year 2015 funds.

Who is responsible for managing this contract?

The County Mayor or their designee is authorized to manage the contract, including executing documents and exercising legal provisions like termination or .

What else do you want to know?