HomeMy Public PortalAbout1998-42 Empowerment Zone financial support over ten year plan to implement strategic planRESOLUTION NO. 98-42
A RESOLUTION RELATING TO EMPOWERMENT ZONE;
REQUIRING THE VILLAGE OF KEY BISCAYNE TO
INCLUDE IN ITS ADOPTED BUDGET OVER A TEN YEAR
PERIOD, THE AMOUNT OF $10,000 TO PROVIDE LOCAL
FINANCIAL SUPPORT TO IMPLEMENT THE STRATEGIC
PLAN; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Strategic Plan set forth in Miami -Dade County's application for designation
as an Empowerment Zone calls for significant investment to achieve the Strategic Vision for Change
and implement the Plan's comprehensive and coordinated approach to open wide the doors of
economic opportunity and promote the development of human potential; and
WHEREAS, in order to create a community in which all people have a chance to succeed and
contribute, Miami -Dade County, municipalities, community and business partners have embarked
on a plan to seek designation and funding under the Federal Empowerment Zone and Enterprise
Communities Program, Round II; and
WHEREAS, Miami -Dade County is in the process of preparing its application for the Federal
Empowerment Zone and Enterprise Program Communities, Round II; and
WHEREAS, this community, if selected for an Empowerment Zone can expect to receive
$100 million over ten years, $130-$230 million in tax exempt bonds, and many other types of
financial aid for designated poor communities; and
WHEREAS, there will be only 15 Urban Zones awarded in the entire country and all
applicants are currently undergoing strategic planning initiatives; and
WHEREAS, in order to maximize the opportunity of obtaining designation of a federal
empowerment zone and fully implement the Plan, it is necessary to demonstrate substantial
commitments from both the state and local levels; and
WHEREAS, Miami -Dade County has committed $100 million towards this effort at the local
level; and
WHEREAS, if the application is to be successful, municipalities must also commit
significant resources.
NOW, THEREFORE, BE IT RESOLVED, BY THE VILLAGE COUNCIL OF THE
VILLAGE OF KEY BISCAYNE, AS FOLLOWS:
Section 1. In the event Miami -Dade County is selected as a Federal Empowerment Zone,
the Village's adopted budgets over a ten year period shall include funding in an amount of $10,000.
These funds shall be used to implement and carry out Empowerment Zone initiatives. Such
municipal sources shall not include funding from federal, state, or other local governments or private
entities. This commitment is contingent upon final agreement between the Village of Key Biscayne
and Miami -Dade County regarding distribution of Empowerment Zone funds.
Section 2. This resolution shall become effective immediately upon adoption.
PASSED AND ADOPTED this 25th of August , 1998.
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AYOR JOHN F. FESTA
CONCHITA H. ALVAREZ, VILLAGE CLE
APPROVED AS TO FORM AND LEGAL SUFFI
RICHARD J. WEISS, VILLAGE ATTORNEY