HomeMy WebLinkAboutR-98-0416J-98-446
4/20/98 9 8_ 416
RESOLUTION NO.
A RESOLUTION, WITH ATTACHMENTS, WAIVING CERTAIN
COMPETITIVE BIDDING REQUIREMENTS PERTAINING TO THE
DISPOSITION OF CITY OWNED PROPERTY UNDER THE AFFORDABLE
HOUSING EXCEPTION PROVIDED IN SECTION 29-B OF THE
CHARTER OF THE CITY OF MIAMI, AS AMENDED, AND
AUTHORIZING THE CITY MANAGER TO ISSUE AN INVITATION TO
BID, IN SUBSTANTIALLY THE ATTACHED FORM, FOR SALE OF
APPROXIMATELY 12.6 ACRES OF SURPLUS CITY -OWNED REAL
PROPERTY WITH IMPROVEMENTS LOCATED AT 2301 NORTHWEST
10 AVENUE, MIAMI, FLORIDA, COMMONLY KNOWN AS THE BOBBY
MADURO MIAMI BASEBALL STADIUM, FOR THE PURPOSE OF
DEVELOPING AFFORDABLE HOUSING, WITH A MINIMUM BID PRICE
OF $900,000; AUTHORIZING THE CITY MANAGER TO NEGOTIATE A
PURCHASE AND SALE AGREEMENT AND TO PRESENT THE
NEGOTIATED AGREEMENT TO THE CITY COMMISSION FOR FINAL
APPROVAL.
WHEREAS, on March 20, 1997, the City Commission adopted Resolution No. 97-178
authorizing the City Manager to sell the City -owned real property with improvements
located at 2301 Northwest 10 Avenue, Miami, Florida, commonly known as the Bobby
Maduro Miami Baseball Stadium; and
WHEREAS, there exists in the City of Miami a severe shortage of housing within
the affordability range of families and individuals of low and moderate income; and
WHEREAS, the City Commission recognizes that participation of both the public
and private sector is necessary to foster the development of housing affordable to low and
moderate income families and individuals in the City; and
ATTACHMENT (S)
CONTAINED
CTIT cceac ON
RMETM of
APR 2 8 1998
Resolution No.
98- 4ib
WHEREAS, there currently exists approximately 12.6 acres of land in the
Allapatt,ah Target Area which would be suitable for development of affordable housing;
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. Certain competitive bidding requirements pertaining to the
disposition of City-owned property under the affordable housing exception provided in
Section 29-B of the Charter of the City of Miami, as amended, are hereby waived.
Section 3. The City Manager is hereby authorizedl~ to issue and Invitation to
Bid, in substantially the attached form, for the sale of approximately 12.6 acres of surplus
City-owned property with improvements located at 2301 Northwest 10 Avenue, Miami,
Florida, commonly known as the Bobby Maduro Miami Baseball Stadium, for the purpose
of developing affordable housing, with a minimum bid price of $900,000.
Section 4. The City Manager is hereby authorized to negotiate a Purchase and
Sale Agreement and. to present the negotiated agreement to the City Commission for final
approval.
Section 5. This Resolution shall become effective immediately upon its adoption.
I~ 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.
2
~~` ~~.6
PASSED AND ADOPTED this28th~iay of April 1998
JOE CAROLLO, MAYOR
ATTEST:
WALTER J. FOEMAN
CITY CLERK
LEGAL REVIEW:
JULIE O. BRU
ASSISTANT CITY ATTORNEY
3
In accordance with Miami Code Sec. 2-36, since the Mayor did not indicate appro~^I of
this legislation by signing it in the designated place ~re~~ic~~~ci, laic! ia~i„~~i~~, ~;,,,.1
becomes effective with the elapse of ten (10) d s t~.:.~~~~ he dafe of i; ~missic~, ac;;~;~
regarding same, without the Mayor exe isi ' vc-~ ,
Wafte an, City Cleric
~~~ ~~~
W2502/JOB/kd
INVITATION TO BID
ISSUED ON
FOR SALE OF
PROPERTY LOCATED AT
8801 NORTHWEST 10 AVENUE
MIAIVII, FLORIDA
CITY OF MIAMI
JOE CAROLLO, MAYOR
WIFREDO (WII.LY) GORT, CONIlVIISSIONER
HUMBERTO HERNANDEZ, COMMISSIONER
J. L. PLUMMER, JR., CONIlVIISSIONER
TOMAS REGALADO, CONIlVIISSIONER
ARTHUR E. TEELE, JR., COMMISSIONER
JOS1; GARCIA-PEDROSA, CITY MANAGER
Bid Due Date:
Bids Accepted Only At:
Further Information:
PM, .1998
City of Miami City Clerk
City Hall
3500 Pan American Drive
Miami, FL 33133
Telephone: (305) 250-5360
City of Miami
Office of Asset Management
444 SW 2 Avenue, Suite 325
Miami, FL 33130
Dena Bianchino
Telephone: (305) 416-1451
9~- 4~.s
I. Property Description
II. Instructions to Bidders
Attachments
Bid Form
Exhibit A Legal Description
Exhibit B Demolition Coat Estimates
Exhibit C Purchase and Sale Agreement
98 - 4:x.6
I
The City of Miami, through its Office of Asset Management, is soliciting bids for the
sale of the land and improvements (the "Property") located at 2301 NW 10 Avenue,
Miami, Florida more particularly described in Exhibit "A" attached hereto and made
a part hereof.
The Property is being sold for the purpose of developing affordable housing.
Potential bidders do not have to be non-profit nor include participation of non-profit
organizations in order to bid.
The deed of conveyance and title to the Property shall be subject to a covenant
which will run with the land (the "Covenant of Use") whereby the Purchaser shall
agree and covenant to use the Property for the development of housing affordable to
families and/or individuals with a household income not greater than eighty percent
(80%) of the median income for Miami-Dade County. The median income limits for
Miami-Dade County shall be adjusted automatically as new median income limits
are periodically determined by the federal government. The housing may be owner-
occupied and/or rental units.
The Covenant of Use shall remain in effect for a period of fifteen (15) years from the
date of conveyance of the Property, and shall be automatically released at the
expiration of such fifteen (15) year period.
Property Profile:
Total Size: 12.6 acres, more or less
Zoning: The Property is presently zoned G/I Government -
Institutional.
Development of the Property for the use intended by the
conveyance (affordable housing) will require a zoning
change and a land use change. The Purchaser shall be
the party responsible for seeking the appropriate
zoning change and land use change. The City is not
warranting, guaranteeing or in any way representing
that such zoning change and land use change will be
granted.
~~- ~~V
Improvements: The site is improved with a baseball stadium. The stadium
was constructed in 1959. It includes CBS and reinforced
concrete slab construction with steel support cantilever roof.
The stadium includes 71,649 s.f. of improved area at the
bleacher level. The northern portion of the property includes
an asphalt paved parking lot enclosed with chain link fencing.
The stadium currently represents an uneconomic use on the
site. Two recent cost estimates for demolition of the stadium
and other site improvements were obtained. The estimates
were $248,600 and $380,000 (See Exhibit B for copies of Cost
Estimates). These estimates are being provided for
informational purposes only. The City does not warrant or
guarantee the coat of demolition.
Acceas/Frontage: The Property is in close proximity to I-95 and 836 expressway
systems. The Property is rectangular in shape with 621.3 ft. of
frontage along the north side of NW 23 Street extending the
entire block from NW 8 to 10 Avenues and has a depth of
908.68 ft.
Payment for Municipal Services:
The successful Bidder (Purchaser) shall be required to furnish a covenant which will
run with the land (the "Municipal Service Fee Covenant") and shall be binding on
the Purchaser, its successors, heirs and assignees. This covenant shall provide that
if the Property, or any portion thereof, is purchased by an "exempt entity" under
Chapter 196 Florida Statutes, or is utilized for an exempt purpose, that the owner
of the Property shall pay to the City a payment in lieu of taxes (PILOT) to fund the
cost of providing municipal services to the Property. The PILOT shall be equal to
the amount of taxes the City would have received had the property not been exempt
from taxation.
General Information:
The Property is being offered for sale "as is". No representations or warranties
of any kind or nature as to its condition or the occupancy which may be made
thereof are made.
The City has procured a Phase I Environmental Survey and asbestos screening of
the Property. You may review these reports at the Office of Asset Management, 444
SW 2 Avenue, Suite 325, Miami, Florida 33130. You may also purchase copies of
these reports by sending a check in the amount of $12.00 made payable to the "City
of Miami' and mail to above referenced address. The City does not warrant or
guarantee the content of these reports. The successful Bidder will be required to
9~- 4~.~
reimburse the City for the coat of theae~inveatigationa in the amount of five
thousand nine hundred fifty dollars ($5,950).
Bidders shall be permitted to inspect the Property by appointment only. In
connection with such inspection, there shall be no soil tests or other invasive testa
which can or may cause damage to the Property unless the Bidder has received the
City's prior written approval for such testa. Bidders must furnish the City a copy of
all test results. All such entries upon the Property shall be at the risk of Bidder and
the City shall have no liability for any injuries sustained by Bidder or any of
Bidder's agents or contractors. Upon completion of Bidder's investigations and
testa, Bidder agrees to promptly repair or restore any damage to the Property
caused by Bidder, its agents and contractors to the same condition as it existed
before Bidder's entry upon the Property. Prior to any entry upon the Property for
purposes of inspection or testing, Bidders and Bidder's agents and contractors, shall
execute an Inspection Indemnity Form.
This Invitation to Bid is being issued, as will any addenda for the City, by the Office
of Asset Management. The contact person for all inquiries related to this Invitation
to Bid is Dena Bianchino who may be reached at (305) 416-1451.
9~- 4~~
III
INSTRUCTIONS TO BIDDERS
Bid Submission: Bidders must complete, acknowledge and submit their Bid in
accordance with the instructions set forth herein. Additional documentation which
is to be submitted by the Bidder in accordance with the Bid, if any should be
attached to the completed form.
Bid Due Date: Whether forwarded by mail or personally delivered, the Bid Form
must be received by the Office of the City Clerk, City of Miami, City Hall, 3500 Pan
American Drive, Miami, Florida 33133, by PM on
.1998. Untimely submissions, or submissions delivered to another
location, will not be accepted. The Bid Form shall be enclosed in a sealed envelope
and shall contain the following information on the face of the envelope:
BID FROM:
Name
Address
OFFER TO PURCHASE CITY PROPERTY LOCATED AT
2301 NORTHWEST 10 AVENUE
MIAMI, FL
DUE DATE: TIME:
Sienature of Bidder: Bidders must sign the Bid Form in the space provided for
signature. If the Bidder is a partnership, the word "Authorized General Partner"
shall appear after the signature of the partner. Proof of authority of the partner
executing the Bid on behalf of the partnership shall be attached to the Bid Form. If
the Bidder is a corporation, the required signature will be of the President or Vice
President or Chief Executive Officer with the official corporate seal affixed thereto.
Citv Discretion to Accent or Reiect Bid: The City of Miami reserves the right to
accept any responsive and responsible Bid, waive any irregularities in any Bid, to
cancel all invitations to Bid before Bid opening, to reject any or all Bids after Bid
opening and/or to readvertise for Bids.
Withdrawal of Bid: Any Bid may be withdrawn for any reason prior to the final
time for receipt of Bids. However, any Bidder who withdraws his/her Bid after the
final time for receipt of Bids will forfeit his/her Bid Deposit which will become the
property of the City, and the Bidder waives all claims with respect thereto.
9~-- 4:~6
Bid Deposit: All Bids must be accompanied by a deposit as a guarantee in the form
of a certified check, cashier's check, official bank check or money order made
payable to the "City of Miami" (NO CASH) in the amount of thirty thousand dollars
($30,000) (the "Bid Deposit").
1) No Bid will be considered below nine hundred thousand
dollars ($900,000).
2) Purchase Price shall be payable in certified check, cashier's
check, official bank check or wire transfer at the time of
closing.
3) In addition to the customary closing costs payable by
Purchaser, the Purchaser shall, at closing, reimburse the City
for:
(i) all costs incurred by the City in connection with the sale of
the Property, which costs shall not exceed five thousand
dollars ($5,000).
(ii) the actual cost of the land survey, the Phase 1
Environmental Site Assessment, and Asbestos Survey of the
Property in the amount of five thousand nine hundred fifty
dollars ($5,9b0).
4) Bids shall not contain contingencies including the obtaining of
financing. The City will provide no direct or indirect
financing for the acquisition of this Property.
Interpretation of Bid Documents: Each Bidder shall thoroughly examine the Bid
Form and judge for him/herself all matters relating to the conditions and
requirements of this Invitation to Bid. Bidders are invited to request clarification of
any of the requirements or conditions expressed herein prior to submission of
his/her Bid by writing to Dena Bianchino, Office of Asset Management, 444 SW 2
Avenue, Room 325, Miami, FL 33130 or by contacting said individuals at (305)416-
1451.
Bid Acceptance Process. The Bidder submitting the Bid which is deemed to be by
the City Manager in the best interest of the City and is to be recommended for
acceptance to the City Commission will receive written notice (the "Notice")
advising him/her of the time and place for establishing the terms of a Purchase and
Sale Agreement ("Agreement"). The City intends to consummate the sale of the
Property substantially in accordance with the terms and conditions set forth in the
Purchase and Sale Agreement which is attached hereto and incorporated herein as
Exhibit "C". The City Commission must expressly authorize the City Manager to
execute the Purchase and Sale Agreement for purposes of consummating the
transaction. No Bid shall be deemed accepted until such time as: (i) the Purchase
and Sale Agreement is approved by the City Commission by a duly passed and
98- 4~.b
adopted Resolution; and (ii) the Purchase and Sale Agreement is fully executed by
the parties and approved by the Oversight hoard. All City contracts at this time are
subject to review and approval of the Governor's Emergency Financial Oversight
Board.
Any Bid which is incomplete, conditional, or which contains irregularities of any
kind, may be cause for rejection of the Bid at the sole discretion of the City.
In the event that the Bidder whose Bid is to be recommended by the City Manager
fails to execute the Purchase and Sale Agreement with the City within fifteen (16)
days from the date Bidder receives the Notice from the City Manager, or such
reasonable time thereafter as determined by the City Manager in his sole discretion,
the City shall retain the Bid Deposit as liquidated damages, and not as a penalty,
and reserves the right to recommend to the City Commission the Bid of any other
Bidder or readvertise using the same or revised documentation, at its sole
discretion.
BID FORM
TO: Office of the City Clerk
City of Miami, Florida
Attention: Office of Asset Management
1. The undersigned hereby makes a Bid for the purchase of the Property from
the City of Miami, Florida, located at 2301 Northwest 10 Avenue, Miami,
Florida.
2. Indicate the purchase price offered to the City of Miami.
(in figures).
(in words).
Bids below nine hundred thousand dollars ($900,000) will be
automatically rejected.
In the event that there is a discrepancy between the price written in words
and the price written in figures, the price written in words shall govern.
3. The undersigned understands that the City reserves the right to reject any
and all Bids at any time, for any reason, until such time as both parties
execute the Purchase and Sale Agreement and the Governor's Emergency
Financial Oversight Board approves the transaction.
Bidder's Initials.
4. The undersigned understands that this Bid is a firm offer and that upon
notice from the City Manager that he will recommend the Bid to the City
Commission for its consideration, which notice shall be mailed to the
undersigned at the address stated below, the undersigned will, within fifteen
(15) days after receipt of such notice execute a Purchase and Sale Agreement
(in substantially the form attached as Exhibit "C"). The undersigned further
acknowledges that in the event the undersigned withdraws his/her Bid after
the Bid Due Date (__ PM, .1998) or if the Bidder fails to
execute a Purchase and Sale Agreement within the time frame set forth
above, the Bid Deposit shall be kept by the City as liquidated damages and
not as a penalty.
Bidder's Initials.
g$- 4:~.b
5. The undersigned understands that all Bid Deposits, except those of the three
(3) highest responsible and responsive Bidders will be returned within
approximately ten (10) business days after the opening of the Bids, and that
the Bid Deposits of the three (3) highest responsible and responsive Bidders,
except that of the Bidder whose Bid is accepted by the City Commission, will
be returned within approximately ten (10) business days from that date of
execution by the Bidder (Purchaser) and the City of the Purchase and Sale
Agreement. The undersigned further understands that if he/she is the
successful Bidder, the Bid Deposit will be retained by the City and credited
towards the purchase price.
Bidder's Initials.
6. The undersigned understands that if this Bid is accepted and the City and
the Bidder enter into an Agreement for Purchase and Sale, the Bidder
(Purchaser) must within seven ('n days of the date the parties execute the
Agreement deposit with the Escrow Agent a sum which when added to the
Bid Deposit will represent 20% of the Purchase Price which sum will be
retained in escrow and will be part of the Purchase Price.
Bidder's Initials.
?. The undersigned understands that in addition to the customary closing costs
payable by Purchaser, the Purchaser shall, at closing, reimburse the City for:
(i) all costs incurred by the City in connection with the sale of the Property
which costs shall not exceed five thousand dollars ($5,000); and (ii) the actual
cost of the land survey, Phase 1 Environmental Site Assessment and
Asbestos Survey of the Property in the amount of five thousand nine
hundred fifty dollars ($5,950).
Bidder's Initials.
8. The undersigned represents that this Bid is made in good faith without fraud
or collusion, and that the undersigned has not entered into any agreement
with any other Bidder or prospective Bidder or with any other person, firm or
corporation relating to the purchase price stated in this Bid or in any other
Bid, nor any agreement or arrangement under which any person, firm or
corporation is to refrain from Bidding, nor any agreement or arrangement for
any act or omission in restraint of free competition among Bidders. The
undersigned agrees to hold harmless, defend and indemnify the City for any
noncompliance by the undersigned with the aforementioned representations
or with the antitrust laws of the United States and of the State of Florida.
Bidder's Initials.
~~` ~~~
9. The undersigned understands that the City Commission must expressly
authorize the City Manager to execute the Purchase and Sale Agreement for
purposes of consummating the transaction. No Bid shall be deemed accepted
until such time as the Purchase and Sale Agreement is fully executed by the
parties and approved by the Oversight Board. All City contracts at this time
are subject to review and approval of the Governor's Emergency Financial
Oversight Board.
Bidder's Initials.
10. The undersigned understands that at closing, the Purchaser shall be
required to execute two covenants which shall run with the land. The first
covenant shall be a Covenant of Use requiring the Property to be utilized for
housing affordable to families and/or individuals with a household income
not greater than eighty percent (80%) of the median income for Miami-Dade
County. The Covenant of Use shall remain in effect for a period of 15 year
from the date of conveyance of the Property. The second covenant shall be a
Municipal Service Fee Covenant. This covenant shall provide that if the
Property, or any portion thereof, is purchased by an "exempt entity" under
Chapter 196 Florida Statutes, or is utilized for an exempt purpose, that the
owner of the Property shall pay to the City a payment in lieu of taxes
(PILOT) to fund the cost of providing municipal services to the Property.
The PILOT shall be equal to the amount of taxes the City would have
received had the property not been exempt from taxation.
Bidder's Initials.
11. The undersigned understands and acknowledges that the Property is
presently zoned G/I (Government Institutional) and accordingly the
development of the Property for the use intended by the conveyance
(affordable housing) will require a zoning change and a land use change.
The undersigned understands and acknowledges that the City is not
warranting, guaranteeing or in any way representing that such zoning
change and land use change will be granted, and therefore Bidder expressly
acknowledges that the inability of Bidder to obtain such zoning and land use
change will not entitle Bidder to any claim for legal or equitable relief in
connection with the purchase of the Property and will not obligate the City to
release the Covenant of Use which will run with the land for a period of
fifteen (15) years.
Bidder's Initials.
9
98- 4:~b
BID SUBMITTED BY
Signature of Bidder
Print Name of Bidder
STATE OF FLORIDA )
SS
COUNTY OF )
Address
The foregoing instrument was acknowledged before me this day of
1998 by (name of person
acknowledging) • who is personally known to me or who has produced
(type of identification) as identification and who did
(did not) take an oath.
Signature of Notary Public
Print Name
Commission No.
~~ J~- 4~.b
Signature of Bidder
Print Name of Bidder
STATE OF FLORIDA )
SS
COUNTY OF )
Address
The foregoing instrument was acknowledged before me this day of
1998 by (name of person
acknowledging), on behalf of (name of partnership), a
partnership. He/she is personally known to me or who has produced
(type of identification) as identification and who did
(did not) take an oath.
Signature of Notary Public
Print Name
Commission No.
MEMBERS OF PARTNERSHIP MUST ATTACH (1) COPY OF PARTNERSHIP
AGREEMENT(S) AND AMENDMENTS THERETO, IF ANY, (2) LIST OF NAMES
AND ADDRESSES OF ALL PARTNERS SPECIFYING WHETHER EACH IS A
GENERAL OR LIMITED PARTNER, (3) PROOF OF AUTHORITY OF THE PARTY
EXECUTING THIS BID ON BEHALF OF THE PARTNERSHIP, AND (4) AFFIDAVIT
THAT THE INFORMATION LISTED IS CURRENT, TRUE AND CORRECT.
98- 4Yb
CORPORATION
Corporation is incorporated in the State of
President
Vice President
Secretary
Treasurer
Place of business is in
Signature of President,
Vice President or CEO
Print Name and Title
(Corporate Seal)
ATTEST:
Secretary
Print Name
STATE OF FLORIDA )
SS
COUNTY OF )
Address
The foregoing instrument was acknowledged before me this day of
.1998 by (name of officer or agent,
title of officer or agent) of (name of corporation
acknowledging), a (state or place of incorporation)
corporation, on behalf of the corporation. He/she is personally known to me or has
produced (type of identification) as identification and
who did (did not) take an oath.
Signature of Notary Public
Print Name
Commission No.
ATTACH COPY OF (1) CORPORATE CHARTER, (2) CURRENT CERTIFICATE OF
CORPORATE GOOD STANDING, (3) PROOF OF REGISTRATION WITH FLORIDA
SECRETARY OF STATE, (4) CERTIFICATE EVIDENCING COMPLIANCE WITH
THE FLORIDA FICTITIOUS NAME STATUTE, IF APPLICABLE, (b) COMPLETE
LIST OF OFFICERS AND DIRECTORS, AND (6) DULY SIGNED AND DATED
CORPORATE RESOLUTION GIVING SPECIFIC AUTHORITY TO SUBMIT THIS
BID AND DESIGNATING THE AUTHORIZED SIGNATORY OR SIGNATORIES.
f
t2
98- 4~.b
EXHIBIT C
PURCHASE AND SALE AGREEMENT
THIS PURCHASE AND SALE AGREEMENT, (the "Agreement") is made
and entered into this day of .1998, by and between the
City of Miami, a municipal corporation of the State of Florida, with offices at
444 SW 2 Avenue, Miami, Florida 33130 (the "Seller', and
with offices at
. (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
Legal description as set
and made a part hereof.
b) Street Address
forth in Exhibit "A" attached hereto
2301 Northwest 10 Avenue
Miami, Florida
2.
c) Improvements
Baseball stadium "as is"
PURCHASE PRICE AND PAYMENT
The Purchaser agrees to pay and the Seller agrees to accept for the Property
the sum of (the "Purchase
Price"). The Purchase Price shall be payable as follows:
A. Deposit.
(1) Within seven (?) days of the Effective Date as defined herein,
the Purchaser shall pay to (the "Escrow Agent")
dollars (the Bid Deposit and this additional sum
will represent twenty percent (20%) of the Purchase Price and is hereinafter
collectively referred to as the "Deposit").
(2) Within ten (10) days of the Effective Date as defined herein,
the Seller shall deliver to the Escrow Agent dollars,
which the Seller has received from the Purchaser as a "Bid Deposit".
(3) The Deposit received hereunder by the Escrow Agent shall be
placed in an interest bearing account. Until this transaction is closed, the
interest earned on the Deposit shall belong to Purchaser.
98- 4~.b
(4) At Closing (as hereinafter defined) the Deposit, and all interest
earned on the Deposit shall be delivered by the Escrow Agent to the Seller
and credited against the Purchase Price. The Deposit is non-refundable
except in the event Purchaser terminates this Agreement as provided in
Section 5 herein.
B. Closing Payment.
At Closing, the Deposit plus the balance of the Purchase Price,
dollars (increased or decreased by adjustments,
credits, prorations, and expenses as set forth in Section 12 or any other
provision of this Agreement) shall be paid by the Purchaser to the Seller in
the form of cashier's check, certified check, official bank check or wire
transfer.
3. EFFECTIVE DATE/TIME OF ACCEPTANCE
The Effective Date of this Agreement shall be the date on which the last
party to this Agreement officially executes the Agreement and the
Agreement has been approved by the Emergency Financial Oversight Board.
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 biphenyls; and (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,
~~- 4~~
orders and decrees, now or hereafter enacted, promulgated, or amended of
the United States, the State of Flbrida, Miami-Dade County, the City of
Miami, 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. Disclaimer As To Environmental Matters.
Purchaser acknowledges and agrees that Seller has not made, does not make
and specifically negates and disclaims any representations, warranties (other
than the limited warranty of title as set out in the special warranty deed),
promises, covenants, agreements or guaranties of any kind or character
whatsoever, whether express or implied, oral or written, (past, present, or
future) of, as to, concerning or with respect to environmental matters with
reference to the Property, including, but not limited to: (a) the value, nature,
quality or condition of the Property, including, without limitation, the water,
soil and geology, (b) the compliance of or by the Property, or its operation
with any Environmental Requirements, (c) any representations regarding
compliance with any environmental protection, pollution or land use, zoning
or development of regional impact laws, rules, regulations, orders or
requirements, including the existence in or on the Property of Hazardous
Materials.
C. Waiver and Release.
Purchaser acknowledges that prior to entering into this Agreement,
Purchaser was given an opportunity to inspect the Property and to conduct
such testing as Purchaser deemed necessary to investigate the
environmental condition of the Property. Purchaser acknowledges and
agrees that to the maximum extent permitted by law, the sale of the
Property as provided for herein is made on an "AS IS" condition and basis
with all faults. Purchaser acknowledges and agrees that upon transfer of the
title from the Seller to Purchaser, Purchaser, on behalf of itself and its
successors and assigns, thereafter waives, releases, acquits, and forever
discharges Seller, its heirs, and the successors and assigns of any of the
preceding, of and from any and all claims, actions, causes of action, demands,
rights, damages, costs, expenses or compensation whatsoever, direct or
indirect, known or unknown, foreseen or unforeseen, which Purchaser or any
of its 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 past, present, or
future physical characteristic or condition of the Property including, without
limitation, any Hazardous Materials in, at, on, under or related to the
Property, or any violation or potential violation or any Environmental
Requirement applicable thereto. ~ In addition, Purchaser thereafter
specifically waives all current and future claims and causes of action against
Seller arising under CERCLA, RCRA, Chapters 376 and 402, Florida
Statutes, and any other federal or state law or county regulation relating to
Hazardous Materials in, on, or under the Property. Notwithstanding
anything to the contrary set forth herein, this release shall survive the
Closing or termination of this Agreement.
b. TITLE EVIDENCE
Purchaser, at its sole cost and expense, shall be responsible for obtaining all
title documents which Purchaser requires in order to ascertain the status of
title. Purchaser agrees to forward a copy of the aforementioned title
documents to Seller immediately upon Purchaser's receipt thereof.
Seller has no obligation to, but 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 twenty-one (21) 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 good faith efforts to cure any Title
Defect, provided however, Seller shall not be required to bring any action or
to incur any expense to cure any Title Defect or objection.
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; 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. In the event of cancellation, copies of all
abstracts of title respecting the Property delivered by Seller to Purchaser or
prepared by or on behalf of Purchaser shall be delivered by Purchaser to
Seller.
6. DISCLAIMER OF WARRANTIES AS TO PROPERTY:
"AS IS" CONVEYANCE.
A. Purchaser is purchasing the Property in an "AS IS" condition
and specifically and expressly without any warranties, representations or
guaranties, either express or implied, of any kind, nature or type whatsoever
from or on behalf of Seller. Without in any way limiting the generality of the
98- 4:~6
immediately preceding, and in additon to the specific disclaimers set forth in
Section 4 of this Agreement with respect to Environmental Matters,
Purchaser and Seller further acknowledge and agree that in entering into
this Agreement and purchasing the Property:
(1) Purchaser hereby acknowledges that Seller has not made, will
not and does not make any warranties or representations, whether express
or implied, with respect to the Property, its condition, the value, profitability,
or marketability thereof;
(2) Purchaser acknowledges that with respect to the Property,
Seller has not and will not make any warranties, whether express or implied,
of merchantability, habitability or fitness for a particular use or suitability of
the Property for any and all activities and uses which Purchaser may
conduct thereon;
(3) Purchaser acknowledges that Seller has not made, will
not and does not make any representations, whether express or implied, with
respect to compliance with any land use, zoning or development of regional
impact laws, rules, regulations, orders or requirements;
(4) Purchaser acknowledges that Purchaser has made and/or shall
be given an adequate opportunity to make such legal, factual and other
inquiries and investigations as Purchaser deems necessary, desirable or
appropriate with respect to the Property, the value or marketability thereof
and of the appurtenances thereto. Such inquiries and investigations of
Purchaser shall be deemed to include, but shall not be limited to, the
condition of all portions of the Property and such state of facts as an accurate
abstract of title would show;
(5) Purchaser acknowledges that Purchaser has not relied, and is
not relying, upon any information, document, projection, proforma,
statement, representation, guaranty or warranty (whether express or
implied, or oral or written or material or immaterial) that may have been
given by or made by or on behalf of Seller.
(6) Purchaser understands and acknowledges that the Property is
presently zoned G/I (Government Institutional) and accordingly the
development of the Property for the use intended by the conveyance
(affordable housing) will require a zoning change and a land use change, and
understands and acknowledges that the City is not warranting, guaranteeing
or in any way representing that such zoning change and land use change will
be granted, therefore Purchaser expressly acknowledges that in the event
that Purchaser is unable to obtain such zoning and land use change,
Purchaser will not make any claim for legal or equitable relief in connection
with the purchase of the Property and the City will not be obligated to
release the Covenant of Use which will run with the land for a period of 15
years.
5 ~~' 4:~b
B. The provisions of this Section shall survive the closing.
7.
8.
9.
RESTRICTIONS. EASEMENTS AND LIMITATIONS
The Purchaser further agrees it shall take title subject to: zoning,
restrictions, prohibitions, and other requirements imposed by governmental
authority; restrictions and matters appearing on the public records and
public utility easements of record.
COVENANT OF USE
A. The conveyance and title to the Property shall be subject to a
covenant which will run with the land (the "Covenant of Use") whereby the
Purchaser, for itself and its successors and assigns, shall agree and covenant
to use the Property for the development of housing affordable to families
and/or individuals with a household income not greater than eighty percent
(80%) of the median income for Miami-Dade County. The median income
limits for Miami-Dade County shall be adjusted automatically as new
median income limits are periodically determined by the federal
government. The affordable housing may be owner-occupied and/or rental
units.
B. The Covenant of Use shall remain in effect for a period of
fifteen (15) years from the date of conveyance of the Property, and shall be
automatically released at the expiration of such fifteen (15) year period.
C. Purchaser shall be deemed to be in compliance with this
Covenant of Use when complying with the requirements for financing of the
affordable housing development. Purchaser shall include in any and all
mortgage or similar loan documents a provision that states the financing
institution shall at any time, and from time to time, so long as this Covenant
of Use shall remain in effect, upon not less than ten (10) days prior written
request by Seller, execute, acknowledge and deliver to Seller a statement in
writing certifying that Purchaser is in compliance with its obligations for
financing as it relates to the use of the Property for affordable housing
purposes.
D. This Covenant of Use shall run with the land until it expires
as provided above, and shall be binding for the benefit of the City and Miami
and shall be enforceable against the Purchaser, its successors or assigns.
COVENANT TO PAY FOR MUNICIPAL SERVICES
The Purchaser agrees that concurrently with the conveyance of the Property,
at Closing, the Purchaser shall furnish a covenant which will run with the
land and shall be binding on the Purchaser, its successors, heirs and
assignees, in favor of the Seller and enforceable by Seller, to be recorded iii
the public records of Miami-Dade C aunty. This covenant shall provide that if
the Property, or any portion thereof, is purchased by an "exempt entity"
under Chapter 196 Florida Statutes, or is utilized for exempt purposes, that
so long as the City of Miami provides municipal services to the Property
conveyed by the City of Miami to on
that the owner shall pay to the City of Miami an annual payment, which
shall never be less than, the amount of taxes that the City of Miami would be
entitled to receive from the Property based on the fair market value of the
Property.
10. 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, Office of Asset Management located at 444
SW 2 Avenue, Suite 325, Miami, Florida. The parties may, subject to mutual
agreement, establish an earlier date for Closing. Notwithstanding the
foregoing, in the event the Seller elects to satisfy any title objections
pursuant to the terms of Section 5 hereof, then Seller shall have the right to
extend the Closing date set forth herein.
Except due to cancellation of this Agreement as provided in Section
5 hereof, or in the event Seller elects to satisfy any title objections,
failure of Purchaser to Close by September 1, 1998 shall be deemed a
default.
11. CLOSING DOCUMENTS
A) At Closing, Seller shall execute and/or deliver to Purchaser the
following:
(1) Special Warranty Deed subject to conditions, restrictions,
easements and limitations of record;
(2) A Closing Statement;
(3) A Seller's Affidavit and aNon-Foreign Affidavit;
(4) Such documents as are necessary to fully authorize the sale of
the Property by Seller and the execution of all closing
documents; and
(5) Any other documents reasonably necessary or advisable to
consummate the transaction contemplated hereby.
B) Purchaser's Closing Documents: At Closing, Purchaser shall execute
and/or deliver to Seller the following:
98- 4:~b
(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 balance of the Purchase Price
as provided for in Section 2 hereof.
12. 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) Real Estate Taxes: The Seller warrants that the Property is
exempt from taxes and accordingly there will be no taxes due
at Closing.
2) Certified/Pendine Liens: Certified, confirmed and ratified
governmental liens as of the Closing Date shall be paid by
Seller. Pending liens as of the Closing Date shall be assumed
by Purchaser.
3) Other Taxes. Expenses. Interest. Etc: Taxes (other than real
property taxes), assessments, water and sewer charges, waste
fee and fire protection charges, if applicable, shall be prorated
as of the Closing Date.
4) Usual and Customarv: 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
incurred in connection with the Closing.
(2) Purchaser shall pay all other closing and recording costs
incurred in connection with the sale and purchase of the
Property described in this Agreement, including, but not
limited to:
8
~~- 4~~
(i) all recording charges, filing fees payable in connection with the
transfer of the Property hereunder;
(ii) the Seller's costs incurred in connection with the public
solicitation process related to the sale of the Property, which
coats shall not exceed five thousand dollars ($5,000);
(iii) Seller's costs incurred in connection with the Phase I
Environmental Site Assessment, Asbestos Survey and land
survey of the Property in the amount of five thousand nine
hundred fifty dollars ($5,950).
13.
DEFAULT
A) If this transaction does not close as a result of default by Seller,
Purchaser as and for its sole and exclusive remedies shall be entitled
to: (i) elect to terminate this Agreement and receive the return of the
Deposit and all interest thereon; (ii) elect to waive any such conditions
or defaults and to consummate the transactions contemplated by this
Agreement in the same manner as if there had been no conditions or
defaults and without any reduction in the Purchase Price and without
any further claim against Seller; (iii) sue for specific performance.
However, notwithstanding anything contained herein to the contrary,
in no event shall Seller be liable to Purchaser for any actual, punitive,
incidental, speculative or consequential damages, costs or fees of any
nature whatsoever. The limitation on Seller's liability set forth herein
shall survive Closing.
14.
15.
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 and after delivery of such notice has expired
with the other party having failed to cure the default or diligently
pursued remedy of the default.
RISK OF LOSS
The Purchaser assumes all risk of loss or damage to the Property by fire or
other casualty, or acts of God, as of the Effective Date.
RADON GAS
98- 4:~.b
Radon is a naturally occurring radioactive gas that, when it has accumulated
in a building in sufficient quantities, may present health risks to persons
who are exposed to it over time. Levels of radon that exceed federal and
state guidelines have been found in buildings in Florida. Additional
information regarding radon and radon testing may be obtained from your
county public health unit.
16. DESIGNATION OF REPRESENTATIVES
Purchaser and Seller acknowledge that proper communication between
Purchaser and Seller is to be an important component of the Purchaser's title
examination. Accordingly, to facilitate such communication, the Purchaser
and Seller have appointed the following persons on their respective behalves
to be their representatives, to wit:
On behalf of Seller: On behalf of Purchaser:
Dena Bianchino
City of Miami
Office of Asset Management
444 SW 2 Avenue, 3~ Floor
Miami, FL 33130
Telephone (305)416-1451
Fax (305)416-2156
17. NOTICES
All notices or 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:
Seller Purchaser
Jose Garcia-Pedrosa, City Manager
City of Miami
444 SW 2 Avenue, 10th Floor
Miami, FL 33130
10
~~- 4~~
Copies To
Dena Bianchino
City of Miami
Office of Asset Management
444 SW 2 Avenue, 3~ Floor
Miami, FL 33130
Joel Edward Maxwell
Interim City Attorney
c% Julie O. Bru, ACA
444 SW 2 Avenue, Suite 945
Miami, FL 33130
18. 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.
19. 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 reason whatsoever.
20. GOVERNING LAW
This Agreement shall be governed according to the laws of the State of
Florida and venue shall be in Dade County, Florida.
21. COUNTERPARTS
This Agreement may be executed in one or more counterparts, each of which
shall be deemed to be an original but all of which shall constitute one and
the same Agreement.
22. 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 prevailing party on any issue in any such litigation and any
appeals therefrom shall be entitled to recover from the other party, in
addition to any damages or other relief granted as a result of such litigation,
all costs and expenses of such litigation and a reasonable attorneys' fee as
fixed by the court.
98- 4:~6
23. 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
refusal to comply. All remedies, rights, undertaking, obligations and
agreement contained herein shall be cumulative and not mutually exclusive.
24. 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.
2b. PARTL~I, 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.
26. WAIVER OF TRIAL BY JURY
The parties hereby knowingly, voluntarily and intentionally waive any right
they may have to a trial by jury 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.
27. ENTIRE AGREEMENT
This Agreement contains the entire agreement between 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 Seller and the Purchaser.
28. 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.
12
98- 4:~6
29. 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.
30. APPROVAL BY THE OVERSIGHT BOARD
The State of Florida has appointed an Emergency Financial Oversight Board
(the "Oversight Board") which is empowered to review and approve all
pending City of Miami contracts. As a result, contracts shall not be binding
on the Seller until such time as they have been approved by the Oversight
Board. Execution of this Agreement by the City of Miami City Manager shall
constitute evidence of approval by the Oversight Board.
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
By:
ATTEST:
Walter J. Foeman
City Clerk
APPROVED AS TO FORM AND
CORRECTNESS:
Alejandro Vilarello
City Attorney
"SELLER"
Executed by CITY OF MIAMI, a municipal
corporation of the State of Florida
on•
Jose Garcia-Pedrosa, City Manager
13
~~~ ~~V
ATTEST:
Witness
Print Name
Witness
Print Name
"PURCI~ASER"
Executed by:
(Print Name)
(Purchaser) on
is
~8- 4~.F
TO
CITY OF MIAMI, FLORIDA ~
INTER-OFFICE MEMORANDUM
The Honorable Mayor and Members DATE : Apr i 1 2 8 , 19 9 8 FILE
of the City Commission
sua.iECT : Invitation to Bid for Sale of
2301 NW 10 Avenue
FROM
Jose Garcia-Pedrosa REFERENCES : Clty Commission Meeting
City Manager ENCLOSURES: Aprll 28, 1998
RECOMMENDATION:
The administration recommends that the City Commission adopt the attached Resolution
waiving certain competitive bidding requirements pertaining to the disposition of City
owned property under the affordable housing exception provided in Section 29-B of the
Charter of the City of Miami, as amended. This Resolution further authorizes the City
Manager to issue an Invitation to Bid ("ITB"), in substantially the attached form, for sale of
approximately 12.6 acres of surplus City-owned real property with improvements located
at 2301 NW 10 Avenue, Miami, Florida, commonly known as the Bobby Maduro Miami
Baseball Stadium (the "Property"). The ITB provides for the sale of the Property for the
purpose of developing affordable housing. The minimum bid price for the Property is being
established at $900,000. The City Manager is further authorized to negotiate a Purchase
and Sale Agreement and to present the negotiated agreement to the City Commission for
final approval.
BACKGROUND:
On March 20, 1997, the City Commission adopted Resolution No. 97-178 authorizing the
City Manager to sell the Bobby Maduro Miami Baseball Stadium located at 2301 NW 10
Avenue, Miami, Florida (the "Property"). -
Highlights of the ITB are as follows:
Purpose: The Property is approved for sale for the purpose of developing
affordable housing. Potential bidders do not have to be non-profit nor
include participation of non-profit organizations in order to bid.
~~- ~~~
The Honorable Mayor and Members
of the City Commission
Page 2
Re: Invitation to Bid for Sale of 2301 NW 10 Avenue
The deed of conveyance and title to the Property will be subject to a
covenant which will run with the land (the "Covenant of Use")
whereby the purchaser will agree and covenant to use the Property
for the development of housing affordable to families and/or
individuals with a household income not greater than eighty percent
(80%) of the median income for Miami-Dade County. The Covenant of
Use will remain in effect for a period of 15 years from the date of
conveyance of the Property, and will be released at the expiration of
the 15 year period.
Minimum Bid: $900,000
The Property has been appraised at $884,000 and $818,500.
Bid Due Date: 30-days from issuance of ITB (estimated to be June 1, 1998)
Bid Deposit: $30,000
Condition of
Property: The Property is being sold "AS IS". No representations or warranties
of any kind or nature as to its condition is being made by the City.
The City has procured a Phase I Environmental Survey and asbestos
screening of the Property. Copies of said report will be made
available to prospective bidders.
Zoning: The Property is presently zoned G/I Government -Institutional.
Development of the Property for the use intended by the conveyance
(affordable housing) will require a zoning change and a land use
change. The Purchaser shall be the party responsible for seeking the
appropriate zoning change and land use change. The City is not
warranting, guaranteeing or in any way representing that such
zoning change and land use change will be granted.
c 0-' ~~V
«.
The Honorable Mayor and Members
of the City Commission
Page 3
Re: Invitation to Bid for Sale of 2301 NW 10 Avenue
Payment for
Municipal
Services:
No Contingencies
~~
JGP:CMC:DB:LB:mStadium ITB ag.doc
The successful Bidder (Purchaser) will be required furnish a covenant
which will run with the land (the "Municipal Service Fee Covenant")
and shall be binding on the Purchaser, its successors, heirs and
assignees. This covenant shall provide that if the Property, or any
portion thereof, is purchased by an "exempt entity" under Chapter
196 Florida Statutes, or is utilized for an exempt purpose, that the
owner of the Property shall pay to the City a payment in lieu of taxes
(PILOT) to fund the cost of providing municipal services to the
Property. The PILOT shall be equal to the amount of taxes the City
would have received had the property not been exempt from taxation.
Bids cannot contain contingencies including the obtaining of
financing. Once executed, the Purchase and Sale Agreement can only
be canceled if the City is unable to provide clear title.
(~ ,p -q c