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HomeMy WebLinkAboutM-94-0520CITY OF MIAMI, FLORIDA B417Y�R-®FIrOsC� [lli ilfr NAND, ! TO Honorable Mayor and Members of the City Commission DATE : MAY 31 1994 FILE : SUBJECT : Resolution Accepting a Donation of One Parcel of s:`,\' Vacant Land in Allapattah FROM Cit tI� ero REFERENCES : City Commission Agenda ENCLOSURES : Item - June 9, 1994 It is respectfully recommended that the City Commission adopt the attached Resolution accepting the donation of a vacant parcel of real property located at 1264 N.W. 31st Street in the Allapattah Community Development Target .Area. The Department of Development and Housing Conservation recommends adoption of the attached resolution accepting a donation of a vacant parcel of real property located at 1264 N.W. 31st Street in the Allapattah Community Development Target Area. once acquired, the subject property will be developed by the City of Miami under the Scattered Site Affordable Homeownership Development Program or made available to a not -for -profit housing corporation for the purpose of developing affordable housing units. Mr. Dale Quick, Senior Vice -President of United Companies Financial Corporation, owner of the subject property, contacted the City of Miami to advise that he would like to donate this property to the City. There are no mortgages on the property and all 'real estate taxes have been paid. There are two outstanding City of Miami liens on the property which total approximately $7,400. The City contracted with an independent appraiser to determine the fair market value of the subject property. Luke A. Ross with Ralph Ross Real Estate Company, Inc. determined the fair market value for the subject property at $10,100. The 1993 assessed value is $20,07O. 94- 520 Honorable Mayor and Members of the City Commission Page 2 Community Development Block Grant Land Acquisition funds which exist as an available balance previously authorized by the City Commission (Project Number 705214), are available to defray the cost of satisfying the outstanding City of Miami liens, recording fees and title insurance, in an amount not to exceed the appraised value of $10,100. In view of the need to provide affordable housing opportunities to low and moderate income families in the Allapattah neighborhood, the City Commission adoption of the attached resolution is recommended.