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HomeMy WebLinkAboutR-03-0165J-03-107 01/30/03 RESOLUTION NO. 03- 160 A RESOLUTION OF THE MIAMI CITY COMMISSION BY A FOUR-FIFTHS (4/5TIS ) AFFIRMATIVE VOTE, WITH ATTACHMENT(S), AUTHORIZING THE CITY MANAGER TO EXECUTE A PURCHASE AND SALE AGREEMENT ("AGREEMENT"), IN SUBSTANTIALLY THE ATTACHED FORM, WITH LEONARDA ROMERO, FOR THE PURCHASE OF THE PROPERTY LOCATED AT 1405-07 NORTHWEST 17TH STREET, MIAMI, FLORIDA, ("PROPERTY"), FOR THE PURCHASE PRICE OF $145,000, IN CONNECTION WITH THE DEVELOPMENT OF CITY -OWNED PROPERTY LOCATED AT 1700 NORTHWEST 14TH AVENUE, MIAMI, FLORIDA, AND CONSUMMATE THE TRANSACTION IN ACCORDANCE WITH THE TERMS OF THE AGREEMENT; ALLOCATING FUNDS, IN THE AMOUNT NOT TO EXCEED $160,000, FROM THE NON -DEPARTMENTAL ACCOUNT TO COVER COSTS INCLUDING A SURVEY, APPRAISAL, TITLE INSURANCE AND THE DEMOLITION ASSOCIATED WITH THE ACQUISITION OF SAID PROPERTY. WHEREAS, by Resolution No. 02-782 adopted July 9, 2002, the City committed to make a joint application with Wagner Square, LLC for a $1,000,000 grant under the Brownsfield Economic Development Initiative ("BEDI") program of the United States Department of Housing and Urban Development ("HUD"), to assist in the development of a mixed-use project of City -owned property located at 1700 Northwest 14th Avenue, Miami, Florida, the Civic Center Site ("Site"); and ars WW Ww w si;. M uu CITY COMMSMON MEETING OF FEB 1 3 Toni Resolution No. 03- 165 WHEREAS, in accordance with Resolution No. 02-782, the BEDI grant application and related documents, the project will consist of a mixed -income homeownership development with an affordable housing component, as well as retail, commercial and office uses; and WHEREAS, a 1,029 square foot duplex ("Duplex") is located adjacent to the Site at 1405-07 Northwest 17th Street, Miami, Florida, and the Site is necessary as part of the land assembly needed for the development of the Site; and WHEREAS, two independent appraisals were procured, establishing $110,000 as the fair market value for the Duplex; and WHEREAS, the purchase price of the Duplex exceeds the appraised value of $110,000 by $35,000; and WHEREAS, it is a condition precedent to the validity of the Purchase and Sale Agreement ("Agreement"), and its execution by the City Manager, that the City Commission approve the Agreement by a greater majority or a four-fifths vote of its members, failing such approval this Agreement shall be automatically null and void without the necessity of further action by either party; and NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA; Page 2 of 4 03- 165 Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The City Manager is authorizedll to execute a Purchase and Sale Agreement ("Agreement"), in substantially the attached form, with Leonarda Romero for the purchase of property located at 1405-07 Northwest 17th Street. Miami_ PInriria ("Duplex"), as legally described in the Agreement, attached and incorporated, for the purchase price of $145,000, in connection with the development of City -owned property located at 1700 Northwest 14th Avenue, Miami, Florida, the Civic Center Site, and consummate the transaction in accordance with the terms of the Agreement, attached and incorporated, with funds allocated, in an amount not to exceed $160,000, from the City's Non -Departmental Account to cover the costs of a survey, appraisal, title insurance and the demolition associated with the acquisition of said Property. 1� The herein authorization is further subject to compliance with all requirements that may be imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter and Code provisions. Page 3 of 4 63- 165 Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayoral PASSED AND ADOPTED this 13th ATTEST: TAW.."6� -- 'A� P ISCILLA A. OMPSON CITY CLERK AZAqANDR't7-VILARELLO C19Y ATTORNEY W6873:tr:AS:BSS day of February , 2003. 7E!LL A. DIAZ, MAYOR i CORRECTNESS: If the Mayor does not sign this Resolution, effective at the end of ten calendar days from passed and adopted. If the Mayor vetoes this shall become effective immediately upon override the City Commission. Page 4 of 4 it shall become the date it was Resolution, it of the veto by 03- 165 PURCHASE AND SALE AGREEMENT THIS PURCHASE AND SALE AGREEMENT, (the "Agreement") is made and entered into this day of '2003, by and between Leonarda Romero an unmarried adult individual, residing at 1405-07 N.W. 17`' Street, Miami, Florida 33125-2429 (the "Seller"), and the City of Miami, a municipal corporation of the State of Florida, with offices at 444 SW 2 Avenue, Miami, Florida 33130, (the "Purchaser"). The Parties hereby agree that Seller shall sell and Purchaser shall buy the following property upon the following terms and conditions: 1. DESCRIPTION OF PROPERTY a) Legal Description Lots 1 to 4, less the East 65 feet of Block 4 of Braddocks Subdivision No. 4, in Plat Book 3 at Page 61 of the Public Records of Miami -Dade County, Florida. b) Street Address 1405-07 N.W. 17`h Street Miami, Florida 33125-2429 c) Improvements Approx. 1,029 sq. ft. duplex 2. PURCHASE PRICE, DEPOSIT AND PAYMENT A) The Purchase Price exceeds the appraised value of One Hundred Ten Thousand Dollars ($110,000) by Thirty Five Thousand Dollars ($35,000). It is a condition precedent to the validity of this Agreement and its execution by the City Manager that the City Commission of the City of Miami approve this Agreement by a greater majority of a 4/5th vote of its members, failing such approval this Agreement shall be automatically null and void without the necessity of further action by either party. B) The Purchaser agrees to pay and the Seller agrees to accept for the Property the sum of One Hundred Forty -Five Thousand ($145,000.00) dollars (the "Purchase Price"). The Purchase Price shall be payable as follows: C) To secure the performance by Purchaser of its obligations under this Agreement: (i) simultaneously with the execution of this Agreement, Purchaser has delivered to the law firm of , as Escrow Agent (the "Escrow Agent"), the sum of Two Hundred Fifty and No/] 00 ($250.00) Dollars which shall be held as an earnest money deposit hereunder (the "Deposit"). D) Terms of Payment. The Purchase Price shall be paid to Seller as follows: $250.00 being the total Deposit, which sum shall be paid to Seller upon execution of the Agreement . $144,750.00 in ca:;l , at Closing, subject to pi -orations and adjustments as hereinafter provided, to be paid by wire transfer or cashier's check to Seller in immediately available federal funds. 03- 165 $ 4�5_000M Total Purchase Price. 3. EFFECTIVE DATE/TIME OF ACCEPTANCE; CONDITION PRECEDENT FOR APPROVAL The Effective Date of this Agreement shall be the date on which the last party to this Agreement officially executes said Agreement, and the Seller has been notified of such approval by facsimile. 4. ENVIRONMENTAL MATTERS A. Definitions. For purposes of this Agreement: The term "Hazardous Materials" shall mean and include without limitation, any substance, which is or contains (A) any "hazardous substance" as now or hereafter defined in the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended (42 U.S.C., Section 9601 et seq.) ("CERCLA") or any regulations promulgated under or pursuant to CERCLA; (B) any "hazardous waste" as now or hereafter defined in the Resource Conservation and Recovery Act (42 U.S.C., Section 6901 et seq.); (C) any substance regulated by the Toxic Substances Control Act (15 U.S.C., Section 2601 et. Seq.); (D) gasoline, diesel fuel, or other petroleum hydrocarbons; (E) asbestos and asbestos containing materials, in any form, whether friable or non -friable; (F) polychlorinated biphenyl. -ind (G) any additional substances or material which: (i) is now or hereafter classified or considered to be hazardous or toxic under Environmental Requirements as hereinafter defined; (ii) causes or threatens to cause a nuisance on the Property or adjacent property or poses or threatens to pose a hazard to the health or safety of persons on the Property or adjacent property; or (iii) would constitute a trespass if it emanated or migrated from the Property. The term "Environmental Requirements" shall mean all laws, ordinances, statutes, codes, rules, regulations, agreements, judgments, orders and decrees, now or hereafter enacted, promulgated. or amended of the United States, the states, the counties, the cities, or any other political subdivision, agency or instrumentality exercising jurisdiction over the Seller or the Purchaser, the Property, or the use of the Property, relating pollution, the protection or regulation of human health, natural resources, or the environment, or the emission, discharge, release or threatened release of pollutants, contaminants, chemicals, or industrial, toxic or hazardous substances or waste or Hazardous Materials into the environment (including, without limitation, ambient air, surface water, groundwater, land or soil). B. Releases. In consideration of the City's purchase of this property iu -'as is " condition at a purchase price exceeding appraised value, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Seller, the Seller, her heirs, representatives, successors and assigns does hereby release, acquit, discharge, and forever covenant not to sue the City of Miami, its officers, employees, successors and assigns from all actions, causes of action, demands, damages, liabilities, costs, attorney's fees, expenses and compensation in any way ,(;rowing out of all known and unknown conditions of the Property herein being sold, whether such conditions be known or unknown on the date of execution of this Agreement, or of a past, present or i,iture nature, and all property damages or personal injuries which I may now or subsequently have either now or at a later time. It is agreed that the consideration herein being paid to the Setter is for discharge of all such claims or actions, and that the Seller has carefully read this subsection and knows of its contents and agrees to same knowingly and voluntarily. This release and discharge shall survive the cancellation, closing or full performance of this Agreement, as applicable. Seller further waives, releases, discharges, and forever covenants not to sue the Purchaser, its officers and employees from any and all claims, causes of action, demands, costs, expenses or compensation, direct or indirect, known or unknown, foreseen or unforeseen which Seller or any of its heirs, successors or assigns now has or which may arise in the future on account or in any way related to or in connection with any present, past or future physical characteristic of the Property, including, without limitation, any Hazardous Materials in, at, on, under or related to the Property, or any past violation, violation, potential or future violation or any environmental requirement applicable thereto. In addition, Seller, its heirs, successors and assigns specifically waives all current and future claims against Purchaser, its heirs, successors and assigns arising under CERCLA, RCRA, Chapters 376 and 402, Florida Statutes, as amended, and any other federal, state, or county law or regulation relating to Hazardous Materials in, on, or under the Property. This waiver, release and covenant shall survive the full performance, closing or termination of this Agreement, as applicable. 5. TITLE EVIDENCE Purchaser, at its sole cost and expense, shall be responsible for obtaining all title documents, which Pu,rhaser requires in order to ascertain the status of title. To the extent Seller has evidence of title, including abstracts, prior title policies and title reports, Seller shall provide copies of same to Purchaser, within five (5) calendar days of the Effective Date, to assist in Purchaser's title examination and obtaining title insurance. In the event the Purchaser's examination of title, which examination shall be completed within thirty (30) days of the Effective Date, reflects any condition which renders the title unmarketable in accordance with the standards of the Florida Bar (the "Title Defect"), the Purchaser shall allow the Seller sixty (60) calendar days within which to use reasonable diligence to cure the Title Defect. Seller shall use r nod faith efforts to cure any Tii' � Defect by the date of Closing. If Seller shall be unable to convey title to the Property according to provisions of this Agreement, Purchaser may: (i) elect to accept such title that Seller may be able to convey, with no reduction in Purchase Price (except that Purchaser shall deduct from the Purchase Price the amount of any lien or encumbrance, which can be satisfied by a liquidated amount); or (ii) terminate this Agreement, in which case the Deposit and all interest earned thereon shall be returned by Escrow Agent to Purchaser. Upon such refund, this Agreement shall be null and void and the parties hereto shall be relieved of all further obligation and liability, and neither party shall have any further claims against the other. 6. RESTRICTIONS. EASEMENTS AND LIMITATIONS The Purchaser further agrees it shall take title subject to: zoning, restrictions, prohibitions, and other requirements imposed by governmental authority. 7. CLOSING DATE Closing shall take place within forty-five (45) days after the Effective Date or within a reasonable time thereafter, at a mutually agreeable time (the "Closing") at the City of Miami, Department of Economic Development located at 444 SW 2 Avenue, Suite 325, Miami, Florida or at such other location within the City of Miami that the Purchaser may designate in writing by affording a notice to Seller as provided herein. The parties may, subject to mutual written agreement, establish an earlier date for Closing. 8. CLOSING DOCUMENTS A) At Closing, Seller shall execute and/or deliver to Purchaser the following: (1) Warranty Deed; (2) A Seller's mechanics' lien and gap affidavit and a Non -Foreign Affidavit; (3) Such documents as are necessary to fully authorize the sale of the Property by Seller and the execution of all closing documents; (4) Any other documents reasonably necessary or advisable to consummate the transaction contemplated hereby; (5) A bill of sale for all personal property and fixtures on the Property; (6) An Affidavit of exclusive possession; and (7) All documents shall be in a form acceptable to the City of Miami. Purchaser's Closing Documents: At Closing, Purchaser shall execute and/or deliver to Seller the following: (1) Closing Statement; (2) Such documents as are necessary to fully authorize the purchase of the Property by Purchaser and the execution of all closing documents; (3) Any other documents reasonably necessary or advisable to consummate the transaction contemplated hereby; and (4) Purchaser shall pay to Seller the Purchase Price as provided for in Section 2 hereof. 9. CLOSING COSTS AND ADJUSTMENTS At Closing, the following items shall be borne, adjusted, prorated or assumed by or between Seller and Purchaser as follows: A. Adjustments and Prorations (1) Certified/Pending Liens: Certified, confirmed and ratified governmental liens as of the Closiw- nate shall be paid by Seller. Pending liens as of the Closino Tate 4 03- 165 shall be assumed by Purchaser, provided that where the improvements have been substantially completed as of the date of Closing, such pending liens shall be deemed certified. (2) Taxes, Expenses, Interest, Etc: Taxes (including real property taxes), assessments, water and sewer charges, waste fee and fire protection charges, if applicable, shall be prorated as of the Closing Date. (3) Usual and Customary: Such other items that are usually and customarily pro- rated between purchasers and sellers of properties in the area where the Property is located. All pro -rations shall utilize the 365 -day method. B. Closing Costs (1) Each party shall be responsible for its own attorney's fees, paralegal costs, closing agent or similar costs incurred in connection with the Closing. (2) Seller shall pay all recording costs incurred in connection with the sale and purchase of the Property described in this Agreement, including, but not limited to: (i) documentary stamps and surtax on the deed; (ii) all recording charges, filing fees payable in connection with the transfer of the Property hereunder or required in order to clear title. 10. DEFAULT A) In the event of a default by Seller under this Agreement, Purchaser at its option shall have the right to: (i) receive the return of the Deposit together with all interest earned thereon whereupon the parties shall be released from all further obligations and liabilities under this Agreement, unless the default was caused by the willful act, omission, or misrepresentation of Seller in which event Seller shall continue to be liable for damages caused thereby, anything to the contrary notwithstanding, or, alternatively, (ii) seek specific performance of the Seller's obligations hereunder and/or any other equitable remedies, without thereby waiving damages. B) If this transaction does not close as a result of default by Purchaser, Seller, as and for its sole and exclusive remedy, shall retain the Deposit and all interest earned thereon, as liquidated damages and not as a penalty for forfeiture, actual damages being difficult or impossible to measure. C) Neither party shall be entitled to exercise any remedy for a default by the other party, except failure to timely close, until (i) such party has delivered to the other notice of the default and (ii) a period of ten calendar (10) days from alld after delivery of such notice has expired with the other pity having failed to cure the default or diligently pursued remedy of the default. 11. RELEASE AND INDEMNIFICATION Seller, and anyone claiming by, through or under Seller hereby fully and irrevocably release Purchaser, its employees, officers, directors, representatives. agents, successors and assigns (collectively the Purchaser) from any and all claims that it may now have or hereafter acquire against the Purchaser for any cost, loss, liability, damage, expense, demand, action or cause of 03 165 12. action arising from or related to any defects, errors, omissions or other conditions caused, including, but not limited to, environmental matters, affecting the Property, or any portion thereof. DESIGNATION OF REPRESENTATIVES Purchaser and Seller acknowledge that proper communication between Purchaser and Seller, and between Purchaser and any governmental authorities having jurisdiction over environmental matters, is to be an important component of the Purchaser's Environmental Inspection period and title examination. Accordingly, to facilitate such communication, the Purchaser and Seller have appointed the following persons on their respective behalves to be their environmental and title representatives, to wit: On behalf of Purchaser: City of Miami Department of Economic Development Laura Billberry, Acting Director 444 SW 2 Avenue, 3rd Floor Miami, FL 33130 Telephone No.: (305) 416-1452 Fax (305) 416-2156 With a copy to: Alejandro Vilarello, City Attorney City of Miami 444 SW 2 Avenue, Suite 945 Miami, FL 33130 13. NOTICES On behalf of Seller: Leonarda Romero 1405-07 NW 17`h Street Miami, Florida 33125-2429 All notices car other communications, which may be given pursuant to this Agreement shall be in writing and shall be deemed properly served if delivered by personal service or by certified mail addressed to Seller and Purchaser at the address indicated herein. Such notice shall be deemed given on the day on which personally served; or if by certified mail, on the fifth day after being posted or the date of actual receipt, whichever is earlier: Purchaser: City Manager City of Miami Yost Office Box 330708 Miami, FL 33233-0708 6 Seller: Leonarda Romero 1405-07 N.W. 17`h Street Miami, Florida 33125-2429 03. 1� Copies To: Laura Billberry City of Miami Department of Economic Development 444 SW 2 Avenue, 3`d Floor Miami, FL 33130 Alejandro Vilarello City Attorney 444 SW 2 Avenue, Suite 945 Miami, FL 33130 14. CAPTIONS AND HEADINGS The Section headings or captions appearing in this Agreement are for convenience only, are not part of this Agreement, and are not to be considered in interpreting this Agreement. 15. BINDING EFFECT This Agreement shall bind and inure to the benefit of the parties hereto and their successors in interest. Purchaser may assign or pledge this Agreement only with the prior written consent of the City Manager which consent may be withheld for any or no rL:ison whatsoever. 16. GOVERNING LAW This Agreement shall be governed according to the laws of the State of Florida and venue shall be in Miami -Dade County, Florida. 17. COUNTERPARTS This Agreement may be executed in one or mor: counterparts, each of which sha]I be deemed to be an original but all of which shall constitute one and the same Agreement. 18. ATTORNEY'S COSTS If it shall be necessary for either party to this Agreement to bring suit to enforce any provisions hereof or for damages on account of any breach of this Agreement, the each party on any issue in any such litigation and any appeals shall bear their own respective attorney's fees. 19. WAIVERS No waiver by either party of any failure or refusal to comply with its obligations shall be deemed a waiver of any other or subsequent failure or refiisal to comply. All remedies, rights, undertaking, obligations and agreement contained herein shall be cumulative and not mutually exclusive. UO3- 165 20. SURVIVAL OF REPRESENTATIONS/WARRANTIES All relevant terms of this Agreement, where appropriate, shall survive the Closing and be enforceable by the respective parties until such time as extinguished by law. 21. PARTIAL INVALIDITY In the event that any provision of this Agreement shall be unenforceable in whole or in part, such provision shall be limited to the extent necessary to render same valid, or shall be excised from this Agreement, as circumstances require, and this Agreement shall be construed as if said provision had been incorporated herein as so limited, or as if said provision had not been included herein, as the case may be. 22. WAIVER OF TRIAL BY JURY The parties hereby knowingly, voluntarily and intentionally waive any right they may have to a trial by jury or to institute permissive counterclaims in respect to any litigation arising out of, under or in connection with this Agreement, or any course of conduct, course of dealing, statements (whether verbal or written) or actions of any party hereto. This provision is a material inducement for Purchaser and Seller entering into this Agreement. 23. ENTIRE AGREEMENT This Agreement contains the entire agreement betv,een the parties. There are no promises, agreements, undertakings, warranties or representations, oral or written, express or implied, between the parties other than as herein set forth. No amendment or modification of this Agreement shall be valid unless the same is in writing and signed by the City Manager on behalf of the Purchaser. 24. TIME OF THE ESSENCE Time is of the essence of this Agreement and in the performance of all conditions and covenants to be performed or satisfied by either party hereto. Whenever a date specified herein shall fall on a Saturday, Sunday or legal holiday, the date shall be extended to the next succeeding business day. 25. AUTHORITY OF CITY MANAGER The Resolution of the City Commission of the Seller shall, in addition to approving the purchase contemplated under this Agreement, empower the City Manager of the Seller to modify this Agreement in the event a modification to this Agreement becomes necessary or desirable. 25. BROKERS The parties each represent and warrant to the other that there is no broker, salesman or finder involved in this transaction. If a claim for brokerage in connection with the transaction is made by any broker, salesman or finder, claiming to have dealt through or on behalf of one of the parties hereto ("Indemnitor"), Indemnitor shall indemnify, defend and hold harmless the other party hereunder ("Indemnitee"), and Indemnitee's officers, directors, agents and representatives, from all liabilities, damages, claims, costs, fees and expenses whatsoever (including reasonable attornev's fees and court costs at trio] and all appellate levels) with respect to said claim for 03 165 brokerage. The provisions of this paragraph shall survive the Closing and any cancellation or termination of this Agreement. IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement, as of the day and year first above written. Signed, sealed and delivered in the presence of: "PURCHASER" Executed by CITY OF NIIAMI, a municipal corporation of the State of Florida on: By: _ Name: Title: ATTEST: Priscilla A. Thompson City Clerk APPROVED AS TO FORM AND CORRECTNESS: Alejandro Vilarello City Attorney APPROVED AS TO INSURANCE REQUIREMENT: Elliot Fixler Risk Management, Administrator 0 03- 165 A TTC QT. STATE OF FLORIDA COUNTY OF MIAMI-DADE "SELLER" Executed by: Leonarda Romero (Purchaser) on ;�! , -s--- 6 �!!z ) ss: BEFO /, ME, the undersigned authority, personally appeared 0tj4,- 4 /-` cmero , who first being duly sworn, deposes and says that he/she has executed the above instrument for the purposes therein expressed. Affiant is personally known to me or has produced a valid as identification. SWORN TO AND SUBSCRIBED before me on this 5— day of 200-0 . My Commission Expires MADELINE VALDES } 'OMMMISSION # CC 984094 -'XRIR I�T-EM&TjNA9f"XT PED NAME OF NOTARY P \\M IA -SR %I„ ; ILEI IRFIELDM\ 1442911 02MX©3021. DOC\ 1128/03\9,1001 57H51 lam! SIGNATUREkOF NOTARY PUBLIC STATE OF FLORIDA 10 033 t65 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO The Honorable Mayor and Members of the ity Commis on FROM: JPe rriola i Manager RECOMMENDATION: DATE: SUBJECT: i� FEB - 4 2003 Resolution Authorizing The Purchase of Pro �erty At 1405-07 NW 17 Street, FILE: REFERENCES :Miami from Leonarda Romero Resolution, Agreement ENCLOSURES: The administration recommends that the City Commission by an affirmative vote of 4/5ths of the members of the City Commission, adopt the attached Resolution authorizing the City Manager to execute a Purchase and Sale Agreement, in substantially the attached form, to purchase the property located at 1405-07 NW 17t' Street, Miami, Florida (the "Property") as legally described in the Purchase and Sale Agreement between the City of Miami and Leonarda Romero, in "as is" condition, with a purchase price of $145,000 and to consummate said transaction in accordance with the terms of the Agreement. The Resolution further allocates funds in the amount not to exceed $160,000 from the City's Non - Departmental Account, reserved for emergencies to cover the cost of said acquisition inclusive of cost of survey, appraisal, title insurance and demolition associated with said acquisition. BACKGROUND: On July 9, 2002, by Resolution 02-782 adopted July 9, 2002, the City committed to make a joint application with Wagner Square, LLC for a $1,000,000 grant under the BEDI program of HUD to assist the development of a mixed used project at the City -owned property known as the Civic Center site (the "Site"), located at 1700 NW 14th Avenue, Miami, Florida. The project will consist of a mixed income, home -ownership development with an affordable housing component, as well as retail, commercial and office uses. There exists a duplex at 1405-07 NW 17th Street containing 1,029 sq. ft. (the "Duplex"), which is adjacent to the Site and is necessary as part of the land assembly needed for the development of the Site. Two independent appraisals were procured, each establishing One Hundred Ten Thousand ($110,000.00) dollars as the fair market value for the Duplex. The purchase price of the Duplex exceeds the appraised value of One Hundred Ten Thousand Dollars ($110,000) by Thirty Five Thousand Dollars ($35,000). It is a condition precedent to the validity of the Agreement, and its executi6n by the City Manager, that the City Commission of the City of Miami approve the Agreement by a 4/5ths vote of its members, failing such approval this Agreement shall be automatically null and void without the necessity of further action by either party. The City will be seeking reimbursement of the costs associated with this acquisition from Wagner Square, LLC, which reimbursement shall be in the form of a credit against environmental cleanup work to be performed at the Site including the Duplex property. FINANCIAL EWFACT: The total acquisition cost of $160,000 will be provided through the City's Non -Departmental Account, esseerved for emergencies. CAG: :LR`mv:m LeonardaRomero.doc 03- 165 1. Department 3. 4. 5. 6. 7. Budgetary Impact Analysis ECONOMIC DEVELOPMENT DiV781o1� , Agenda Item # ("if available} N /A Title and brief description of legislation or attach ordinancelresolution. Resolution authorzing the City Manager to execute a Purchase and Sale Agreement to purchase the property located at 1405-07 NW 17th Street, Miami, Florida from Leonarda Romero, 1,fi "as is" condition, with a purchase price of 1144_nnn_nn The Resolution further allocates funds in the amount not to exceed $160,000 from the i y s Non -Departmental Account, reserved for emergencies to cover the cost of said c uj s}.tion. Ins this item related to revenue? Nn• x _ YES of yes, skip.to item #1.) Are there sufficient funds'in Line item: ' YES: x Index Code Minor Obj. Code Amount $-- s0 NO: _ Complete the following questions: Source of funds: Amount budgeted in the Line Item $ Amount needed in the Line Item Sufficient funds will be transferred from the following line items: ACTION ACCOUNT NUMBER ACCOUNT NAME TOTAL IudexlMinor Object/Project No. From Non -De artmental Account $ 160,000 To S Any additional comments? The total acauisition cost of $160-060 will be lrnviaoa City's Non -Departmental Account, reserved for emergencies - A roved by 8. Department rirectorMesigaee FOXDEP by: and Budget Director/Desigaee Date or e- S�C.r�."7�rt T<ovV� �a�aY ori �v�h �YvSJM�r�� Y>O 1/27/03 Date Verified by: Ndb ;� •-fir 'Date ol� �ctro3 03- 165 J-02-640 B 7-8-02 019v- 782 RESOLUTION NO. A RESOLUTION OF THE CITY OF MIAMI COMMISSION ACCEPTING THE RECOMMENDATION: OF THE CITY MANAGER TO JOINTLY SUBMIT A BROWNSFIELD ECONOMIC DEVELOPMENT INITIATIVE (BEDI) GRANT APPLICATION WITH WAGNER SQUARE, LLC; A JOINT VENTURE CONSISTING OF ATWATER CAPITAL GROUP, INC., THE URBAN DEVELOPMENT GROUP, AND REDEVCO, THE FIRMS THAT SUBMITTED THE TWO HIGHEST RANKING PROPOSALS IN RESPONSE TO THE REQUEST FOR LETTERS OF INTEREST , FOR DEVELOPMENT OF A MIXED INCOME, HOME OWNERSHIP DEVELOPMENT TO INCLUDE AN AFFORDABLE HOUSING COMPONENT ON APPROXIMATELY 2.7 ACRES LOCATED BETWEEN NORTHWEST 17TH AND 18.. STREETS AND NORTHWEST 14TH AND 15TH AVENUES, MIAMI, FLORIDA; APPROVING, IN PRINCIPLE, THE FUTURE CDBG ALLOCATION OF A $4,000,000 SECTION 108 LOAN FROM THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (US HUD) FOR PURPOSES OF SAID APPLICATION; FURTHER DIRECTING THE CITY MANAGER TO COME BACK TO THE CITY COMMISSION WITH A RECOMMENDATION AT THE CITY COMMISSION MEETING OF JULY 25, 2002; AND AUTHORIZING THE CITY ATTORNEY TO ENGAGE COUNSEL TO ASSIST WITH FINALIZING DEVELOPMENT OF A RECOMMENDATION, IN AN AMOUNT NOT TO EXCEED $25,000, -ALLOCATING FUNDS FROM ACCOUNT CODE NO. 001000.920205.6.250. WHEREAS, following prior directives of the City Commission, the City issued a Request for Letters of Interest on June 17, 2002, seeking a qualified firm to develop a mixed income, home ownership development to include an affordable housing development on approximately 2.7 acres located between N.W 17`h and 18`h Streets and N.W. 10 and 15`h Avenues; and 03- 165 WHEREAS, the City received four submittals by the advertised deadline of Monday, June 24, 2002, at 10:00 a.m., that of 1) Atwater Capital Group, Inc., 2) Greater Miami Neighborhoods, Inc., 3) The Gatehouse Companies, and 4) the Urban Development Group; and WHEREAS, a selection committee appointed by the City Manager evaluated proposals and ranked the firms in the following order: 1) Atwater Capital Group, Inc, 2) The Urban Development Group, 3) Greater Miami Neighborhoods, and 4) the Gatehouse Companies; and WHEREAS, on June 27`h, 2002, the City Commission directed the City Manager to negotiate an agreement with the two highest ranked firms and present the business terms to the Commission on July 8`h, 2002; and WHEREAS, the two highest ranked firms partnered to form a limited liability company (LLC) comprised of Atwater Capital Group, Inc., The Urban Development Group, and Redevco (a member of The Urban Development Group) as members of the Wagner Square, LLC; and WHEREAS, the City Commission has determined it to be in the best interest of the City to submit an application for a BEDI grant of $1,000,000 to US HUD; and WHEREAS, the BEDI grant requires the commitment of a Section 108 loan; and WHEREAS, the proposed $4,000,000 Section 108 loan will provide a 4 to 1 ratio that will provide a competitive BEDI grant application; and WHEREAS, the Section 108 loan and the BEDI grant will allow for remediation and specified development costs of a City -owned brownfields property so that it may be developed for a mixed income, home ownership development to include an affordable housing component on approximately 2.7 acres located between NW 17 and 18 Streets and NW 14 and 15 Avenues, Miami, Florida; and Page 2 WHEREAS, it is also in order for the City Commission to authorize the City Attorney to engage counsel to assist with finalizing development of a recommendation, in an amount not to exceed $25,000, said funding available from Account Code No. 001000.920205.6.250; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The recommendation of the City Manager to jointly submit a Brownfields Economic Development Initiative (BEDI) grant application with Wagner Square, LLC, a joint venture consisting of Atwater Capital Group, Inc., The Urban Development Group, and Redevco, the firms that submitted the two highest ranking proposals in response to the request for letters of interest for development of a mixed income, home ownership development to include an affordable housing component on approximately 2.7 acres located between Northwest 17'' and 18'h Streets and Northwest I e and 15th Avenues, Miami, Florida, be accepted. Section 3. The future CDBG allocation of a $4,000,000 Section 108 loan from the US Department of Housing and Urban Development for development of a mixed income, home ownership development to include an affordable housing component on approximately 2.7 acres located between Northwest 17`h and 18`h Streets and Northwest 14`h and 15'h Avenues, Miami, Florida is hereby approved in principle. Section 4. The City Manager is hereby directed to come back to the City Commission at its meeting of July 25, 2002 with a recommendation. Section 5. The City Attorney is hereby authorized to engage counsel to assist with finalizing development of a recommendation, in an amount not to exceed $25,000, allocating funds from Account Code No. 001000.920205.6.250. Page 3 Section 6. This Resolution shall become effective immediately upon its adoption and signature of the Mayor. ii PASSED AND ADOPTED this 8th. day of July ,-2002. ATTEST: PRISCILLA A. TlqOWSON,rITY CLERK CORRECTNESS: c O • a -M W6412:LB:BSS MANUEL A. DIAZ, YOR �i If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission. Page 4 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM Priscilla A. Thompson TO : City Clerk Q-� FROM: $lllberry, g Director Department of Economic Development January 30, 2003 DATE: FILE SUBJECT: Resolution Authorizing The Purchase of Property REFERENCES: at 1405-07 NW 17'hStreet, Miami from Leonarda Romero ENCLOSURES: Enclosed you will find an ad for notice of a public hearing to be held by the City Commission on February 13, 2003 for the purpose of recommending that the Miami City Commission, by an affirmative vote of 4/5ths of the members of the City Commission, authorizing the City Manager to execute a Purchase and Sale Agreement, to purchase the property located at 1405-07 NW 17th Street, Miami, Florida (the "Property") as legally described in the Purchase and Sale Agreement between the City of Miami and Leonarda Romero, in "as is" condition, with a purchase price of $145,000 and to consummate said transaction in accordance with the terms of the Agreement. The Resolution further allocates funds in the amount not to exceed $160,000 from the City's Non -Departmental Account, reserved for emergencies to cover the cost of said acquisition inclusive of cost of survey, appraisal, title insurance and demolition associated with said acquisition. Please place the ad in accordance with public hearing requirements of the City Commission. Thank you for your assistance in this matter. Approv /, . Elvi Gallastegui-Alonso, Agenda Coordinator Enclosure i.B/mv/City Clerk AD for lzonarda&HUD.doc 03- 165 CITY OF MIAMI NOTICE OF PUBLIC HEARING A public hearing will be held by the City Commission of the City of Miami, Florida on February 13, 2003 at 9:00 AM at Manuel Artime Theater, located at 900 SW I Street, Miami, Florida, for the purpose of considering the following resolution: A Resolution of the Miami City Commission, by an affirmative vote of 4/5ths of the members of the City Commission, authorizing the City Manager to execute a Purchase and Sale Agreement, to purchase the property located at 1405-07 NW 17th Street, Miami, Florida (the "Property") as legally described in the Purchase and Sale Agreement between the City of Miami and Leonarda Romero, in "as is" condition, with a purchase price of $145,000 and to consummate said transaction in accordance with the terms of the Agreement. The Resolution further allocates funds in the amount not to exceed $160,000 from the City's Non - Departmental Account, reserved for emergencies to cover the cost of said acquisition inclusive of cost of survey, appraisal, title insurance and demolition associated with said acquisition. All interested persons are invited to appear and may be heard concerning these items. Should any person desire to appeal any decision of the City Commission with respect to any matter considered at this hearing, that person shall ensure that a verbatim record of the proceedings is made, including all testimony and evidence upon any appeal may be based. (City Seal) Priscilla Thompson City Clerk Ad. No. w - 03- 165