PH.8 - Amend Local Housing Assistance Plan

WHEREAS, in July 1992, the State of Florida enacted the William E. Sadowski Affordable Housing Act (“Sadowski Act”), which provides for the allocation of a portion of new and existing documentary stamp taxes on deeds on real estate transactions to local governments for the development and maintenance of affordable housing; and

WHEREAS, the Sadowski Act provided a dedicated revenue source for affordable housing and created the State Housing Initiative Partnership (“SHIP”) Program; and

WHEREAS, pursuant to Section 420.9072(2)(a), Florida Statutes, a county or eligible municipality must submit to Florida Housing Finance Corporation(“FHFC”)its Local Housing Assistance Plan ("LHAP") describing the local housing assistance strategies to be eligible to receive funds under the program; and

WHEREAS, on July 24, 2025, pursuant to Resolution No. R-25-0290, the Miami City Commission approved the City of Miami’s (“City”) LHAP, for the period of July 1, 2025, through June 30, 2028; and

WHEREAS, there is a need to modify the LHAP to update to the Single-Family Emergency program, and the Single-Family Rehabilitation program, to eliminate the requirement to repay the loan in the event of the death of the original borrower, to preserve affordable housing for eligible City residents; and

WHEREAS, amendments to the LHAP must be approved by the City Commission and later sent to FHFC for review and final approval; and

WHEREAS, the City’s Administration recommends the amendment of the City’s LHAP policies, attached and incorporated as Exhibit “A,” for Fiscal Years (“FY”) 2025-2028, to modify the Single-Family Emergency program, and the Single-Family Rehabilitation program, respectively;

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 amendment of the City’s LHAP policies, attached and incorporated as Exhibit “A,” for FY 2025-2028, to modify the Single-Family Emergency program, and Single-Family Rehabilitation program, respectively, is approved.

Section 3. The City Manager is authorized to submit the plan to the FHFC for review and approval and to negotiate and execute all necessary documents to implement the terms and conditions of the SHIP Program and the LHAP.

Section 4. This Resolution shall become effective immediately upon its adoption.