HomeMy WebLinkAboutCRA-R-17-0035i OMNI
I�� OMNI CRA
Community Redevelopment Agency 1401 N. Miami Avenue
Miami, FL 33136
OmniLegislation www.miamicra.com
C R A
OMNI CRA Resolution: CRA-R-17-0035
File Number: 2500 Final Action Date:6/21/2017
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
("CRA"), AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE A
PURCHASE AND SALE AGREEMENT ("AGREEMENT"), IN A FORM
ACCEPTABLE TO THE GENERAL COUNSEL, BETWEEN THE CRA AND
REYNALDO PADRON & W. MARTA PADRON ("SELLERS') FOR THE
ACQUISITION OF REAL PROPERTY LOCATED AT 1990 N. MIAMI AVENUE,
MIAMI, FLORIDA ("PROPERTY'), CONTAINING AN APPROXIMATE TOTAL
LOT AREA OF 15,017 SQUARE FEET, AS LEGALLY DESCRIBED IN THE
AGREEMENT, FOR A TOTAL PURCHASE PRICE NOT TO EXCEED FOUR
MILLION FIVE HUNDRED THOUSAND DOLLARS ($4,500,000.00),
CONTINGENT UPON THE CRA OBTAINING A WRITTEN APPRAISAL FROM A
LICENSED FLORIDA APPRAISER STATING THAT THE APPRAISED VALUE OF
THE PROPERTY IS, AT A MINIMUM, THE REFERENCED AMOUNT HEREIN,
PURSUANT TO SECTION 163.370, FLORIDA STATUTES, AND THE CRA
REDEVELOPMENT PLAN; FURTHER AUTHORIZING THE EXECUTIVE
DIRECTOR TO NEGOTIATE AND EXECUTE ALL NECESSARY DOCUMENTS,
INCLUDING AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, IN
A FORM ACCEPTABLE TO THE GENERAL COUNSEL, AS MAY BE
NECESSARY TO EFFECTUATE SAID ACQUISITION; ALLOCATING FUNDS
FROM THE PROCEEDS OF THE CRA SERIES 2017 LOAN FOR A TOTAL
AMOUNT NOT TO EXCEED FOUR MILLION SIX HUNDRED SIXTY FIVE
THOUSAND DOLLARS ($4,665,000.00), TO PROVIDE FOR THE COST OF SAID
ACQUISITION, INCLUSIVE OF THE COST OF A SURVEY, ENVIRONMENTAL
REPORT, TITLE INSURANCE, AND RELATED CLOSING COSTS ASSOCIATED
WITH SAID ACQUISITION, IN ACCORDANCE WITH THE TERMS AND
CONDITIONS OF THE AGREEMENT.
WHEREAS, Omni Redevelopment District Community Redevelopment Agency
("CRA") wishes to acquire the real property located at 1990 N. Miami Avenue, Miami,
Florida, containing an approximate total lot area of 15,017 square feet ("Property"), as
legally described in the Purchase and Sale Agreement ("Agreement"), in a form
acceptable to the General Counsel; and
WHEREAS, pursuant to Section 163.370, Florida Statutes, and the CRA
Redevelopment Plan ("Redevelopment Plan"), the CRA plans to develop the Property to
enhance the quality of life in the surrounding area and address slum and blight; and
WHEREAS, Reynaldo Padron and W. Marta Padron ("Sellers") agree to enter
into the Agreement to convey the Property to the CRA for a purchase price to exceed
four million five hundred thousand dollars ($4,500,000.00); and
City of Miami Page 1 of 3 File ID: 2500 (Revision: 8) Printed On: 911412022
File ID: 2500 Enactment Number: CRA-R-17-0035
WHEREAS, the Agreement is contingent upon obtaining an appraisal from a
licensed Florida appraiser stating that the appraised value of the Property is at least
$4,500,000.00-1 and
WHEREAS, the CRA's estimated total cost for the acquisition of the Property will
not exceed four million six hundred sixty-five thousand dollars ($4,665,000.00), to be
allocated from the proceeds of the CRA Series 2017 Loan, inclusive of the cost of a
survey, environmental report, title insurance and related closing costs associated with
said acquisition, in accordance with the terms and conditions of the Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT
AGENCY:
Section 1. The recitals and findings contained in the Preamble to this Resolution
are hereby adopted by reference thereto and incorporated herein as if fully set forth in
this Section.
Section 2. Pursuant to Section 163.370, Florida Statutes, and the
Redevelopment Plan, the Executive Director is authorized to execute the Agreement, in
a form acceptable to the General Counsel, between the CRA and the Sellers, for the
acquisition of the Property, containing an approximate total lot area of 15,017 square
feet, as legally described in the Agreement, for a total purchase price not to exceed four
million five hundred thousand dollars ($4,500,000.00), contingent upon the CRA
obtaining a written appraisal from a licensed Florida appraiser stating that the appraised
value of the Property is at a minimum the referenced amount herein.
Section 3. The Executive Director is further authorized to negotiate and execute
all necessary documents, including any amendments and modifications to said
Agreement, in a form acceptable to the General Counsel, as may be necessary to
effectuate said acquisition.
Section 4. Funds for the purchase of the Property shall be allocated from the
proceeds of the CRA Series 2017 Loan, in a total amount not to exceed four million six
hundred sixty-five thousand dollars ($4,665,000.00), to cover the cost of said
acquisition, inclusive of the cost of a survey, environmental report, title insurance and
related closing costs associated with said acquisition, in accordance with the terms and
conditions of the Agreement.
Section 5. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 3 File ID: 2500 (Revision: 8) Printed on: 911412022
File ID: 2500
Enactment Number: CRA-R-17-0035
APPROVED AS TO FORM AND CORRECTNESS:
Barnaby L. Min, Deputy City Attorney 7/14/2017
City of Miami Page 3 of 3 File ID: 2500 (Revision: B) Printed on: 911412022