HomeMy WebLinkAboutR-98-0300J-98-365
03/24/98
RESOLUTION AS- 300
A RESOLUTION AUTHORIZING AND DIRECTING THE
CITY MANAGER TO REQUEST A DISBURSEMENT OF
$700,000 FROM THE ESCROW ACCOUNT FOR THE
SAINT HUGH OAKS VILLAGE ASSOCIATION, INC. TO
BE PROVIDED TO THE DEPARTMENT OF PUBLIC WORKS
TO FUND CERTAIN CAPITAL IMPROVEMENT PROJECTS
AT BAYFRONT PARK.
WHEREAS, the City of Miami, Florida is the developer of the
twenty-three (23) unit Saint Hugh Oaks Village Condominium
project; and
WHEREAS, the purchase price for said units was $115,000; and
WHEREAS, the City has sold twenty-two (22) of the units, and
has a pending sale for the last unit; and
WHEREAS, as of the most recent bank statement for the escrow
account for the Saint Hugh Oaks Village Association, Inc., the
City has available approximately $1.7 millic: fr=n the sale
proceeds of the units to be utilized at the City Commission's
discretion for an-- governmental purpose; and
WHEREAS, the Bayfront Park Management Trust has requested
funding in the amount of $700,000 to make certain capital
improvements at Bayfront Park which will positively impact public
safety and safeguard the City's significant investment in
Bayfront Park; and
WHEREAS, said improvements will move the City closer to
completing Isamu Noguchi's design of Bayfront Park;
0TT C OMSSION
IKEETING OF
MAR 2 4 1998
Resolution No.
98- 300
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 hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. The City Manager is hereby authorized and
directed to request that the law firm of McCrary and Mosley, as
escrow agent for the Saint Hugh Oaks Village Association, Inc.
Escrow Account, immediately disburse to the City of Miami,
Florida, funds in the amount of $700,000 from said account.
Section 3. The City Manager is further authorized and
directed to provide said funds to the Department of Public Works
to fund the following capital improvement projects and associated
costs at Bayfront Park:
a. Laser Tower Resurfacing, Challenger Memorial
Resurfacing and Cap Ends Installation;
b. South End Walkways;
C. Resurface Fountain Apron and Keystone Mall;
d. South End. Lighting;
e. Architectural and design fees; and
f. Contingency fund.
Section 4. This Resolution shall become effective
immediately upon its adoption.
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98- 300
PASSED AND ADOPTED this 24th day of March_ 1998.
ATTEST:
WALTER J. FOEMAN
CITY CLERK
PREPARED AND APPROVED BY:
LI KELLY ARSU
ASSISTANT CITY ATTORNEY
LKK/W2415
JOE CAROLLO, MAYOR
APPROVED AS TO FORM AND
CORRECTNESS:
EDWARD MAX ELL
.IM CITY A ORN
In accordance with Miami Code Sec. 2-36, since the Mayor did not indicate approval of
this legislation by signing R in the designated place provided, said legislation now
becomes effecdve with the elapse of ten (10) days from the date of Commission action
regarding same. without the Mayor exercising a vet .
Walter oeman, City Clefk
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98- 300