HomeMy WebLinkAboutSEOPW-CRA-R-98-0022H
Agenda Item No. Lb.
RESOLSUTTION/NO 9 8 - 22
A RESOLUTION OF THE BOARD OF THE DIRECTORS OF
THE COMMUNITY REDEVELOPMENT AGENCY
APPROVING AN ASSIGNMENT OF DEVELOPMENT RIGHTS
WITH RESPECT TO 24 UNITS IN POINCIANA VILLAGE
FROM POINCIANA VILLAGE OF MIAMI LIMITED TO
POINCIANA VILLAGE, III LIMITED CONSISTING OF
POINCIANA VILLAGE OF MIAMI LIMITED, AS GENERAL
PARTNER AND FANNIE MAE, AS LIMITED PARTNER;
PROVIDING AN EFFECTIVE DATE; AND FOR SUCH
OTHER PURPOSES.
WHEREAS, Poinciana Village of Miami, Ltd., a Florida limited partnership (the
"Developer") and the City of Miami, a Florida municipal corporation (the "City") have entered
into that certain Southeast Overtown/Park West Lease and Development Agreement (the
"Lease"); and
WHEREAS, the City assigned all of its right, title and interest in the Lease to the CRA;
and
WHEREAS, the CRA has granted the Developer certain amendments to the Lease to
facilitate the completion of partially developed units of Poinciana Village Condominiums (the
"Project").
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
COMMUNITY REDEVELOPMENT AGENCY:
SECTION 1: The recitals contained in the preamble to this Resolution are hereby
adopted by reference and incorporated in this Resolution as if fully set forth in this Section.
SECTION 2: The Board of Directors of the CRA hereby approves the assignment
of,development rights with respect to the 24 units to be completed from Poinciana Village of
Miami Limited to a new partnership entitled Poinciana Village III, Limited, to be composed of
Poinciana Village of Miami Limited, as the general partner, and Fannie Mae, as the limited
partner.
1
SEOPW/CRA 9
8 _ q 2
SECTION 3: This Resolution shall become effective immediately upon its
adoption.
PASSED AND ADOPTED ON THIS 22ndDAY OF September 1998.
ATTEST:
Walter J. Foeman, Clerk
APPROVED AS TO FORM AND LEGAL
SUFFICIENCY
Holland & Knight LLP
Counsel to CRA
MIA4-688652.1
2
Arthur E. Teele, Jr., Chairman
98- 22
'ENDA ITEM lb (2 of 2)
RELEASE
KNOW ALL MEN BY THESE PRESENTS that POINCIANA VILLAGE OF
MIAMI, LTD., a Florida limited partnership, INDIAN RIVER
INVESTMENTS OF MIAMI, INC., a Florida corporation, and their past
and present general and limited partners, affiliates, subsidiaries,
officers, directors and employees (all of the foregoing are
collectively referred to as the "first party"), for and in
consideration of Ten and 00/100 Dollars ($10.00) and other good and
valuable consideration, received from or on behalf of THE CITY OF
MIAMI, a municipal corporation of the State of Florida, SOUTHEAST
OVERTOWN/PARKWEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
MIAMI, and their officers, commissioners and employees, (all of the
foregoing are collectively referred to as the "second party"), the
receipt and adequacy of which is hereby acknowledged, remises,
releases, acquits, satisfies, and forever discharges the said
second party and their officers, directors, commissioners,
shareholders, agents and employees, of and from all, and all manner
of action and actions, cause and causes of action, suits, debts,
dues, sums of money, accounts, agreements, promises, damages,
judgments, executions, claims and demands whatsoever, in law or in
equity, which said first party ever had, now has, or which said
first party hereafter can, shall or may have, against said second
party, for, upon or by reason of any matter, cause or thing
whatsoever, from the beginning of the world to the date of these
presents relating to or arising out of, directly or indirectly, the
execution, delivery and performance under the Southeast Overtown
Park West Lease & Development Agreement dated June 15, 1988 by and
between the City of Miami and Indian River Investments of Miami,
Inc., as general partner on behalf of Poinciana Village of Miami,
Ltd. as amended by Amendment No. 1 dated February 17, 1989, by
Amendment No. 2 dated July 24, 1989 and Amendment No. 3 dated
January 11, 1990 (collectively the "Lease"), including, without
limitation, in connection with (i) the issuance of the Request for
Proposal ("RFP") for the Lease and all representations made in
connection therewith; (ii) the negotiation of the Lease; (iii)
any claims arising out of any action, inaction, or failure to act
or perform under the Lease; (iv) any express or implied
representations and warranties made in connection with the Lease;
and (v) any expressed or implied representations and warranties
that party of the second part was to take any action to promote
additional development in the geographic area of the property which
is the subject of the Lease.
This release shall not release the second party from any of
its duties and obligations under the Lease first arising from and
after the date of the execution of this instrument.
First party hereby represents and warrants that they are fully
competent and able to understand the terms of this Release, that
first party is not relying upon any statements or representations
(whether express or implied) of the second party, their employees
and attorneys regarding this Release and that first party is
entering into this Release under their own free will believing that
this Release to be in their best interest.
This Release shall be governed by and construed in accordance
with the law f t� State of Florida.
IN WITNESS WHEREOF, we have hereunto set out hand and seal
this day of September, 1998.
WITNESS:
WITNESS:
POINCIANA VILLAGE OF MIAMI,
LTD., a Florida limited
partnership
By: Indian River Investments
of Miami, Inc., a Florida
corporation, its general
partner
By:
President
INDIAN RIVER
MIAMI, INC.,
corporation
JIM
Name:
Title.
INVESTMENTS OF
a Florida
STATE OF FLORIDA )
SS:
COUNTY OF MIAMI-DADE )
The foregoing instrument was acknowledged before me this
day of August, 1998, by of
Indian River Investments of Miami, Inc., a Florida corporation, as
general partner on behalf of Poinciana Village of Miami, Ltd., a
Florida limited partnership, on behalf of the corporation and the
limited partnership. He who is personally known to me/has produced
as identification.
(SEAL)
Printed/Typed Name:
Notary Public -State of Florida
Commission Number:
STATE OF FLORIDA )
SS:
COUNTY OF MIAMI-DADE )
The foregoing instrument was acknowledged before me this
day of August, 1998, by ,
of Indian River Investments of Miami, Inc., a Florida corporation,
on behalf of the corporation. He who is personally known to me/has
produced as identification.
(SEAL)
Printed/Typed Name:
Notary Public -State of Florida
Commission Number:
MIA4-632388.5