HomeMy WebLinkAboutR-2005-057 CDFI Funding (FY 2006) RESOLUTION NO. 2005-057
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, DIRECTED TO THE CONGRESS OF THE UNITED
STATES OF AMERICA, REQUESTING AFFIRMATIVE ACTION IN THE
MAINTENANCE OF FUNDING FOR THE COMMUNITY DEVELOPMENT
FINANCIAL INSTITUTIONS PROGRAM ("CDFI") AND A BUDGET
APPROPRIATION OF AT LEAST EIGHTY MILLION ($80,000,000.00)
DOLLARS IN CDFI FUNDS FOR FISCAL YEAR 2006; PROVIDING
INSTRUCTIONS TO THE CITY CLERK; PROVIDING FOR THE ADOPTION
OF REPRESENTATIONS; PROVIDING FOR CONFLICTS; FURTHER,
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the federal Community Development Banking and Financial Institutions
Act of 1994 established Community Development Financial Institutions as a means of
encouraging direct private section involvement in community redevelopment; and
WHEREAS, the CDFI Program, in conjunction with various Internal Revenue Code
provisions, including provisions for new markets tax credits, provides major incentives for
® encouraging qualified low-income community investments aimed at community redevelopment;
and
WHEREAS, the President's Fiscal Year 2006 budget proposes substantial cuts in CDFI
funding; and
WHEREAS, the community redevelopment efforts of local communities will be
substantially impaired if such budget cuts are approved; and
WHEREAS, the better-informed strategy would be to assure at least Eighty Million
($80,000,000.00) Dollars in funding is committed Fiscal Year 2006; and
WHEREAS, it is important for local communities to speak up for the maintenance, as
well as the restoration, of community development programs in this time of national prosperity;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA:
Section 1. The foregoing "WHEREAS" clauses are ratified and confirmed as being
true and correct and are made a specific part of this Resolution.
Section 2. The City of Dania Beach requests the members of the Congress of the
United States, across political aisles, to maintain the Community Development Financial
Institutions Program as well as the Internal Revenue Code provisions for new market tax credits,
as a viable tool to encourage private section involvement in the Nation's continuing efforts to
support local community redevelopment and to take all steps necessary and appropriate to fund
the Community Development Banking and Financial Institutions Act budget with an
appropriation of at least Eighty Million ($80,000,000.00)Dollars.
Section 3. That the City Clerk is authorized and directed to provide true copies of
this Resolution to the President of the United States, the President of the United States Senate,
the Speaker of the United States House of Representatives, the Honorable Senators from Florida,
Mel Martinez and Bill Nelson, the Honorable Representatives from Florida, Alcee Hastings, E.
Clay Shaw, Jr., Debbie Wasserman Schultz and Robert Wexler, the Broward League of Cities
and the Florida League of Cities, as well as the several cities, towns and villages of Broward
County.
Section 4. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED AND ADOPTED on April 12, 2005.
ANNE CASTRO
MAYOR—COMMISSIONER
ATTEST: ROLL CALL:
COMMISSIONER ANTON—YES
OXJ COMMISSIONER BERTINO —YES
LOUISE STILSON COMMISSIONER MCELYEA - YES
CITY CLERK VICE-MAYOR FLURY - YES
MAYOR CASTRO —YES
APPROVED AS TO FORM AND CORRECTNESS:
BY:
THOMAS J. 0 BRO
CITY ATTORNEY
is
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