Title
RESOLUTION NO. 20R-07-123: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LAUDERHILL APPROVING THE COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) INTERDEPARTMENTAL COOPERATION AGREEMENT MEMORANDUM OF UNDERSTANDING (MOU) BETWEEN THE CITY OF LAUDERHILL AND THE FINANCE DEPARTMENT FOR FISCAL YEAR 2020; PROVIDING FOR THE ADMINISTRATION OF THE ECONOMIC DEVELOPMENT PROJECTS IN ACCORDANCE WITH HUD GUIDELINES; PROVIDING FOR TERMS AND CONDITIONS; AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS; AUTHORIZING THE APPROPRIATION OF FUNDS FROM THE APPROPRIATE BUDGET CODE; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY INTERIM CITY MANAGER, DESORAE GILES-SMITH).
Body
Request Action:
A RESOLUTION IS REQUESTED FROM THE CITY COMMISSION TO APPROVE AN INTERLOCAL AGREEMENT COOPERATION AGREEMENT MEMORANDUM OF UNDERSTANDING BETWEEN THE CITY OF LAUDERHILL AND THE FINANCE DEPARTMENT.
Need:
ACTION IS REQUIRED TO OBTAIN COMMISSION APPROVAL OF THE INTERDEPARTMENTAL COOPERATION AGREEMENT MOU FOR THE FINANCE DEPARTMENT.
Summary Explanation/ Background:
THIS AGREEMENT PROVIDES FOR THE ADMINISTRATION OF THE MICRO LOAN ($100,000) AND COMMERCIAL PROPERTY IMPROVEMENT PROGRAM ($260,000).
THE MICRO LOAN PROGRAM IS DESIGNED TO PROVIDE LOAN FUNDING START-UP, NEWLY ESTABLISHED, AND/OR SMALL BUSINESS FOR THE PURPOSE OF ESTABLISHMENT, RELOCATION, OR EXPANSION OF OPERATIONS WITHIN THE CITY’S COMMERCIAL CORRIDORS.
THE COMMERCIAL PROPERTY IMPROVEMENT (CPI) PROGRAM IS DESIGNED TO ENCOURAGE INVESTMENTS BY COMMERCIAL PROPERTY OWNERS TO HELP PROMOTE INCREASED PROPERTY VALUES. THE CPI PROGRAM WILL PROVIDE AN INCENTIVE IN THE FORM OF A PARTIALLY FORGIVABLE REVOLVING LOAN. THE PURPOSE OF SAID LOAN IS TO CREATE AESTHETICALLY PLEASING COMMERCIAL CORRIDORS THAT ATTRACT NEW BUSINESSES AND CONSUMERS.
STAFF RECOMMENDS APPROVAL OF THE MOU FOR FY 2020 CDBG PROGRAM.
Attachments:
1. FY 2020 - FINANCE MOU
Cost Summary/ Fiscal Impact:
FUNDING FOR PROGRAM PROJECTS UNDERTAKEN WILL BE BUDGETED AND EXPENDED UNDER FUND 625.
Estimated Time for Presentation:
NONE
Master Plan:
Goal 1: Clean, Green Sustainable Environment
[ ] Increase mass transit ridership [ ] Reduce City energy consumption
[ ] Reduce water consumption
Goal 2: Safe and Secure City of Lauderhill
[ ] Crime in lower 50% in Broward [ X ] Residents feel safe in neighborhood
[ ] Reduce emergency fatalities
Goal 3: Open Spaces and Active Lifestyle for all ages
[ ] Increase participation in youth sports [ ] Add new park land and amenities
[ ] Increase attendance at cultural programs and classes
Goal 4: Growing Local Economy, Employment and Quality of Commercial Areas
[ ] Increase commercial tax base [ X ] Increase employment in Lauderhill businesses
[ X ] Decrease noxious and blighted uses in commercial areas
Goal 5: Quality Housing at all Price Ranges and Attractive Communities
[ ] Neighborhood signs and active HOAs [ ] Housing & streets improved, litter reduced
[ ] Increase proportion of single family homes and owner occupied housing
Goal 6: Efficient and Effective City Government, Customer Focused & Values Diversity
[ ] Improves City efficiency [ ] Increase use of Information Technology
[ X ] Increases residents perception of Lauderhill as an excellent place to live