Community Budget Issue Requests - Tracking Id #194FY0102

Miami-Dade County Empowerment Zone

Requester:

Bryan Finnie

Organization:

Miami Dade Empowerment Trust, Inc.

Project Title:

Miami-Dade County Empowerment Zone

Date Submitted:

1/14/2002 2:20:04 PM

Sponsors:

Kendrick Meek

Statewide Interest:

Economic Development and Business Development

Recipient:

Miami Dade Empowerment Trust, Inc.

Contact:

Aundra Wallace

3050 Biscayne Boulevard, Ste. 300

Contact Phone:

(305) 372-7620

Miami 33137

Counties:

Dade

Gov't Entity:

Yes

Private Organization (Profit/Not for Profit):

Project Description:

The trust operates as a public sector investment bank, matching public resources with private funding to stimulate development.

Measurable Outcome Anticipated:

500 jobs created; 40 new homes built; $1 million Micro Loan Fund

Amount requested from the State for this project this year:

$7,000,000

Total cost of the project:

$15,000,000

Request has been made to fund:

Operations and Construction

What type of match exists for this project?

Local, Federal

Cash Amount:

$8,000,000

Was this project previously funded by the State?

Yes

Fiscal Year:

1999-2000

Amount:

$3,275,000

Is future-year funding likely to be requested?

Yes

Amount:

$7,000,000

Purpose for future year funding:

Recurring Operations

Will this be an annual request?

Yes

Was this project included in an Agency's Budget Request?

No

Was this project included in the Governor's Recommended Budget?

No

Is there a documented need for this project?

Yes

Documentation:

Miami-Dade County Empowerment Zone Strategic Plan

Was this project request heard before a publicly noticed meeting of a body of elected officials (municipal, county, or state)?

Yes

Hearing Body:

Miami Dade County Commission

Meeting Date:

11/16/2001