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Enactment Number: R-20-0157
File Number: 7450
Revision:
File Type: Resolution
File Name: Right of Reverter - Residences at Dr. King
Boulevard, LTD
Requesting Dept: City Commission
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Status: ADOPTED
Controlling Body: City Commission
Introduced: 5/14/2020
Final Action Date: 5/14/2020
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE MODIFICATION OF THE CITY OF MIAMI'S ("CITY") RIGHT OF
REVERTER IN ORDER TO BE MORE CONSISTENT WITH FREDDIE MAC'S LENDING
STANDARDS FOR THE PROJECT ("PROJECT") BEING DEVELOPED BY
RESIDENCES AT DR. KING BOULEVARD, LTD., A FLORIDA LIMITED PARTNERSHIP
("RDK"), PROVIDED THAT THE CONVEYANCE IS IN FULL COMPLIANCE WITH THE
CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, PARTICULARLY
SECTION 29, THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AND
ANY AND ALL OTHER LOCAL, STATE, AND FEDERAL RULES; FURTHER
PROVIDED THAT THE CITY'S DECLARATION OF RESTRICTED COVENANTS IS
RECORDED SIMULTANEOUSLY WITH THE DEED AND BEFORE ANY OF THE
PROJECT'S LENDERS' OR INVESTOR(S)' DOCUMENTS; FURTHER PROVIDED
THAT BEFORE RDK, ITS SUCCESSORS, TRANSFEREES, OR ASSIGNS
(COLLECTIVELY, "DEVELOPER") MAY TRANSFER, ATTEMPT TO TRANSFER, OR
ENCUMBER THE PROPERTIES OR THE PROJECT, OR ANY PORTION THEREOF,
THE DEVELOPER MUST FIRST OBTAIN THE CITY'S PRIOR WRITTEN
AUTHORIZATION; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE
AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, ALL IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY AND BOND COUNSEL, FOR SAID
PURPOSE.
Sponsor(s): Commissioner Keon Hardemon
Notes:
Links:
Attachments: 7450 Exhibit A (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
City Commission
5/14/2020
Meeting
Completed
City Commission
5/14/2020
ADOPTED
Passed
Victoria M6ndez
5/20/2020
Approved Form and
Completed
Correctness
Mayor's Office
5/26/2020
Unsigned by the Mayor
Completed
City Clerk's Office
5/26/2020
Signed and Attested by the City
Completed
Clerk
City Clerk's Office
5/26/2020
Rendered
Completed
City of Miami Page 1 of 1 Printed on: 7/6/2020