HomeMy WebLinkAboutItem #75 - Discussion ItemCITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM 66
TO: DATE
Honorable Mayor and Members JUL - 6 1995
: FILE
of the City Commission
SUBJECT :Agenda Item for City
Commission Meeting
�r
of July 13, 1995
FROM : Ces O REFERENCES:
Cit r
ENCLOSURES:
RECOMMENDATION:
It is respectfully recommended that the City Commission approve the attached
Resolution authorizing the City Manager to enter into a Purchase and Sale
Agreement with the School.Board of Dade County, Florida, and approving the sale
of the City -owned property (the "Property"), consisting of approximately 61,449
square feet, which is more particularly and legally described in Exhibit "A" attached
hereto. The purchase price for the property is $125,000.
BACKGROUND:
The City Manager and the Office of Asset Management recommend the ratification
of the attached resolution authorizing the City Manager to execute a Purchase and
Sale Agreement with the School Board of Dade County, Florida.
The School Board of Dade County contacted the City expressing their need to
acquire approximately 61,449 acres of City -owned property, located in the
Overtown Community Development Target Area, for the expansion of the Phillis
Wheatly Elementary School. The property is vacant surplus land, acquired by the
City in the early 1980's for $125,000.
The School Board, at its meeting of April 26, 1995, authorized the purchase of the
Property, in the amount of $125,000.
The terms and conditions of this sale are as follows:
Purchase Price:
Payment Terms:
$125,000
All cash at closing
�4 �