PH.7 - Allocate $9.3m Home Housing Funds

WHEREAS, on April 3, 2026, the United States Department of Housing and Urban Development (“HUD”) announced the final Community Planning and Development Program Formula Allocations for Fiscal Year (“FY”) 2026-2027, thereby announcing the amount of Two Million, Seven Hundred Ninety-One Thousand, Four Hundred Forty-Seven and 23/100 Dollars ($2,791,447.23) of Home Investment Partnership Program ("HOME") funds; and

WHEREAS, pursuant to Resolution No. R-\_\_\_\_\_\_\_, adopted July 9, 2026, the Miami City Commission accepted grant funds from HUD in the total amount of Twenty-Two Million, Nine Hundred Forty-One Thousand, Six Hundred Ninety-One and 23/100 Dollars ($22,941,691.23) which included an amount of Two Million, Seven Hundred Ninety-One Thousand, Four Hundred Forty-Seven and 23/100 Dollars ($2,791,447.23) for the HOME program; and

WHEREAS, the City of Miami’s (“City”) Administration recommends the allocation of HOME funds in the amount of Two Million, Seven Hundred Ninety-One Thousand, Four Hundred Forty-Seven and 23/100 Dollars ($2,791,447.23), the projected HOME program income in the amount of Five Hundred Thousand and 00/100 ($500,000.00), and an additional amount of Six Million and 00/100 Dollars ($6,000,000.00) from prior years unallocated HOME funds, for a total amount of Nine Million, Two Hundred Ninety-One Thousand, Four Hundred Forty-Seven and 23/100 Dollars ($9,291,447.23) for FY 2026-2027, as more particularly specified in Exhibit “A,” attached and incorporated, for the provision of affordable housing to low-income households, beginning October 1, 2026;

NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA:

Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section.

Section 2. The allocation of HOME funds in the amount of Two Million, Seven Hundred Ninety-One Thousand, Four Hundred Forty-Seven and 23/100 Dollars ($2,791,447.23), the projected HOME program income in the amount of Five Hundred Thousand and 00/100 ($500,000.00), and an additional amount of Six Million and 00/100 Dollars ($6,000,000.00) from prior years unallocated HOME funds, for a total amount of Nine Million, Two Hundred Ninety-One Thousand, Four Hundred Forty-Seven and 23/100 Dollars ($9,291,447.23) for FY 2026-2027, as more particularly specified in Exhibit “A,” attached and incorporated, for the provision of affordable housing to low-income, beginning October 1, 2026, is authorized.

Section 3. The City Manager is authorized¹to negotiate and execute any and all necessary documents, including amendments, extensions, and modifications, all in forms acceptable to the City Attorney, for said purpose.

Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.