HomeMy WebLinkAboutSEOPW-CRA-M-03-0013LEGAL / LITIGATION
SEOFW/CRA
03- 13
LJ
® ITEM 12
A0
CITY OF MAMI, FLORIDA
INTER -OFFICE MEMORANDUM
To: Chairman Arthur E. Teele, Jr. and Date: February 10, 2003 File:
Members of the CRA Board
Subject: Report from Special Counsel
From
:
17 K. Rollason References:
CRA Executive Director
Enclosures:
11. Report from Special Counsel
a. Complete, History on Parking Lot 5 (Board Request from January 27, 2003)
b. Parking Lot 7 Agreement- Final Agreement (Board Request from January 27, 2003)
SEOPW/CRA
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a
SEOPW AND OMNI/CRA
CITY CLERK'S REPORT
MEETING DATE: December 16, 2002 Page No. 6
ITEM 15 A MOTION REAFFIRMING THE INTENT OF THE SEOPW/CRA MOTION 02-182
CRA BOARD TO LEASE PARKING LOT P-7 TO MOVED: TEELE
THE BLACK ARCHIVES; FURTHER INSTRUCTING SECONDED: WINTON
SPECIAL COUNSEL AND THE INTERIM, ABSENT: SANCHEZ,
EXECUTIVE DIRECTOR TO COME BACK WITHIN GONZALEZ
30 DAYS WITH A LEASE TO FACILITATE P-7 FOR
PRIMARY USE BY THE LYRIC THEATER.
ITEM 5 irection to the Interim Executive Director: by
Chairman Teele prepare a written response to all of Mr.
.� Leroy Jones' concerns on the requirements of the - CRA
Commercial Revitalization and Commercial Equipment
Loan Program and forward a copy of said response to
the Board and to Mr. Jones.
ITEM 17 Direction to CRA Special Counsel and Clerk of the
Board: by Chairman Teele to meet with Board Member
Sanchez and brief him, on today's discussion on the
acquisition cost of the Ward Rooming House; further
directing the Clerk of the Board to provide a verbatim
transcript of this discussion to Special Counsel and
Board Member Sanchez.
SEOPW/CRA
HISTORY P-5
PURCHASED FROM BARKETT $609112.00
(Appraised value at time of purchase
was $60,000 and improved with
apartment house which must be
demolished by CRA)
CRA DEMOLITION COSTS, $259973.31
ENGINEERING, SURVEYS,
ENVIRONMENTAL, ARCHITECTURAL
COST TO CONSTRUCT PARKING LOT $439000.00
TOTAL INVESTMENT $1299085.31
CURRENT APPRAISED VALUE $289000.00
SEOPW/C A
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t
LOT 2
22'
LOT 1
50'
Owner: JEJ Owner: Ingram
I" Pacific $43,000 1" Mortgage Pacific$43,000
2nd CRA $41,600 2nd Mortgage Jackson $250,000
3rd Jackson $250,000 3rd Mortgage CRA $41,600
Owner: CRA
1" Mortgage Pacific $43,000
2nd Mortgage CRA $41,600
3rd Mortgage Jackson $250,000
PARKING LOT
100,
0
0
0
C]
CRA SALE TO JEJ
PURCHASE PRICE
APPRAISED VALUE
TERMS OF SALE
TOTAL PURCHASE PRICE
$529000.00
$289000.00
$10,400.00 (CASH)
41,600.00 (MORTGAGE)
$52,000.00
SE®PW/ CIA
03- 13
TERMS OF $250,000 2NDMORTGAGE .
FROM SHIRLENE INGRAHAM IN FAVOR
OF DEMUS JACKSON
Pursuant to letter dated December 17, 2002, the
loan now has a balance of $250,000.00.
As of 1999 the balance was $125,000.00.
Note in the amount of $250,000 dated December
17, 2002.
Mortgage dated December 17, 2002 recorded
December 31, 2002 under Clerk's File Number
02R819835. Documentary and intangible taxes in the
amount of $1,390.37 paid.
Pursuant to the sales contract this mortgage will
be ahead of the CRA mortgage on the existing
restaurant and behind the CRA mortgage on the
property which is being sold to JEJ and the parcel
JEJ acquired from Barkett.
MUI #1206185 v1
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SEOPw/CRA
03- 13