Miami-Dade Legislative Item
File Number: 080274
Printable PDF Format Download Adobe Reader  Clerk's Official Copy   

File Number: 080274 File Type: Resolution Status: Adopted
Version: 0 Reference: R-139-08 Control: Board of County Commissioners
File Name: PLAN TO ADDRESS INCREASES IN FORECL, BANKRUPTCIES, UNEMPL., Introduced: 1/29/2008
Requester: NONE Cost: Final Action: 2/5/2008
Agenda Date: 2/5/2008 Agenda Item Number: 11A28
Notes: Title: RESOLUTION DIRECTING THE MAYOR OR DESIGNEE TO DEVELOP A PLAN TO ADDRESS THE IMPACTS OF THE SIGNIFICANT INCREASES IN FORECLOSURES, PERSONAL BANKRUPTCIES, UNEMPLOYMENT, HOMELESSNESS AND RELATED PUBLIC SAFETY ISSUES [SEE ORIGINAL ITEM UNDER FILE NO. 080034]
Indexes: FORECLOSURES
Sponsors: Carlos A. Gimenez, Prime Sponsor
  Jose "Pepe" Diaz, Co-Sponsor
  Joe A. Martinez, Co-Sponsor
  Katy Sorenson, Co-Sponsor
  Rebeca Sosa, Co-Sponsor
  Audrey M. Edmonson, Co-Sponsor
  Dorrin D. Rolle, Co-Sponsor
  Sally A. Heyman, Co-Sponsor
Sunset Provision: No Effective Date: Expiration Date:
Registered Lobbyist: None Listed


Legislative History

Acting Body Date Agenda Item Action Sent To Due Date Returned Pass/Fail

Board of County Commissioners 2/5/2008 11A28 Adopted P

County Attorney 1/29/2008 Assigned Jess M. McCarty 1/29/2008

Budget and Finance Committee 1/28/2008 2C AMENDED Forwarded to the BCC by the BCC Chairperson with favorable recommendation with committee amendments P
REPORT: Assistant County Attorney Jess McCarty read the foregoing proposed resolution into the record. Commissioner Gimenez asked that this proposed resolution be amended to include a provision directing the Mayor to develop a plan to accelerate capital improvement projects in 2008. He noted the benefits of accelerating capital improvement projects included employment opportunities and lower construction costs. It was moved by Commissioner Gimenez that this proposed resolution be forwarded to the County Commission with a favorable recommendation with committee amendment(s). This motion was seconded by Commissioner Sosa. Commissioners Diaz, Sosa, and Sorenson asked that they be listed as co-sponsors. Commissioner Sorenson acknowledged Chairman Martinez’s idea to hold mortgage foreclosure workshops; she apprised the Committee that she would hold a foreclosure workshop Thursday, January 31, 2008. Commissioner Sosa asked that this proposed resolution be amended to include as part of the minimum requirements for the plan in this proposed resolution the impact to the healthcare industry (Jackson Memorial Hospital), and to include a provision directing the Mayor to search departments for State and Federal Programs that assisted those impacted by the issues addressed in the plan. Discussion ensued between Committee members concerning the success of Chairman Martinez’s foreclosure workshops and how to incorporate into this proposed resolution his foreclosure seminars as a countywide informational program. Hearing no other questions or comments, the Committee proceeded to vote on this proposed resolution as amended to include a provision directing the Mayor to develop a plan to accelerate capital improvement projects in 2008; to include as part of the minimum requirements for the plan the impact to the healthcare industry (Jackson Memorial Hospital); to include a provision directing the Mayor to search departments for State and Federal Programs that assisted those impacted by the issues addressed in the plan; and to incorporate a Countywide informational program on mortgage foreclosures based on the seminars conducted by Commissioner Martinez. Chairman Martinez noted he would prepare a memorandum that asked Chairman Barreiro to waive the Board's Rules and Procedures to allow this proposed resolution to be considered at the February 5, 2008, County Commission meeting.

Legislative Text


TITLE
RESOLUTION DIRECTING THE MAYOR OR DESIGNEE TO DEVELOP A PLAN TO ADDRESS THE IMPACTS OF THE SIGNIFICANT INCREASES IN FORECLOSURES, PERSONAL BANKRUPTCIES, UNEMPLOYMENT, HOMELESSNESS AND RELATED PUBLIC SAFETY ISSUES

BODY
WHEREAS, mortgage foreclosures have tripled in Miami-Dade County over the last year, with lenders taking over nearly 9,000 properties; and
WHEREAS, approximately three percent (3%) of all residential mortgages in Miami-Dade County currently are in foreclosure; and
WHEREAS, mortgage foreclosures have increased due to subprime loans with variable interest rates that have resulted in substantially higher mortgage payments as interest rates have increased, as well as other factors; and
WHEREAS, approximately 23 percent of mortgage loans in Miami-Dade County are subprime with some areas of the County having higher percentages of subprime loans; and
WHEREAS, significant increases in foreclosures may be attributed to higher rates of unemployment resulting in homelessness as the economy slows; and
WHEREAS, during the housing boom, many people could avoid personal bankruptcy cases by refinancing mortgages and getting home equity loans; and
WHEREAS, now that the housing boom has ended and credit has tightened, personal bankruptcy cases are on the rise; and
WHEREAS, the County should have a plan in place to address the impacts of increased foreclosures, personal bankruptcies, higher unemployment, increased homelessness and resulting public safety issues; and
WHEREAS, given the urgency of the mortgage foreclosure situation, increases in personal bankruptcies and the downward trend of the economy, the County should have a plan in place quickly to address these issues,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:
Section 1. The Mayor or his designee is directed to develop a plan to address the significant increase in foreclosures and the potential for increased unemployment and homelessness. The plan should at a minimum:
1. Address how the County will deal with different levels of possible unemployment, including 1, 3 and 5 percentage point increases in the unemployment rate at the time this resolution becomes effective.
2. Take into account the current level of foreclosures and analyze the potential number of people who are at risk should the real estate and financial markets continue their current downward cycle over the next 24 months.
3. Identify the federal, state, county, and municipal services and programs available to impacted residents and the availability of funding for the programs currently in place.
4. Research and consider any new programs that could be created to address the impacts of foreclosures, personal bankruptcies, unemployment, homelessness and related public safety issues.
5. Estimate the ad valorem revenue impact from foreclosures on local governments in Miami-Dade County.
6. Develop a reporting system that would inform the Board of the status of foreclosures, personal bankruptcies, unemployment, homelessness and related public safety issues, and make recommendations to the Board for actions necessary to address these issues.
7. Identify means by which County capital improvement projects can be accelerated for 2008 to help offset the impacts of an economic downturn.
8. Include an analysis of the impact an economic downturn could have on the healthcare industry, including in particular Jackson Health System.
9. Prepare a Countywide informational program on mortgage foreclosures based on the seminars conducted by Commissioner Martinez.
10. Research and identify federal and state programs, including funding and grant programs, that might be available to assist those impacted by the economic downturn.
Section 2. The Mayor or his designee is directed to provide the completed plan to the Board within sixty (60) days of the effective date of this resolution.



Home  |   Agendas  |   Minutes  |   Legislative Search  |   Lobbyist Registration  |   Legislative Reports
2014 BCC Meeting Calendar  |   Miami-Dade County Code of Ordinances   |   ADA Notice  |  

Home  |  Using Our Site  |  About Phone Directory  |  Privacy  |  Disclaimer

E-mail your comments, questions and suggestions to Webmaster  

Web Site 2014 Miami-Dade County.
All rights reserved.