HomeMy WebLinkAboutR-94-0887J-94-1021
12/1/94
RESOLUTION NO.
A RESOLUTION CONSENTING TO THE TRANSFER OF
THE PROPERTY LOCATED AT 1419 WEST FLAMER
STREET, MIAMI, FLORIDA, BY THE SMALL BUSINESS
OPPORTUNITY CENTER, INC. ("SBOC") TO THE
LATIN CHAMBER OF COMMERCE OF THE UNITED
STATES, INC. ("CAMACOL"), SUBJECT TO A
MORTGAGE FROM SBOC TO THE CITY SECURING A
LOAN IN THE ORIGINAL PRINCIPAL SUM OF
$33,000; CONSENTING TO THE ASSUMPTION OF SAID
MORTGAGE BY CAMACOL; AND FURTHER AUTHORIZING
THE CITY MANAGER TO EXECUTE SUCH DOCUMENTS AS
MAY BE NECESSARY, IN A FORM ACCEPTABLE TO THE
CITY ATTORNEY, TO EVIDENCE THE CITY'S CONSENT
TO THE TRANSFER OF SAID PROPERTY AND
CAMACOL'S ASSUMPTION OF SAID MORTGAGE.
WHEREAS, the City Commission is committed to economic
development and the expansion of trade and commerce; and
WHEREAS, pursuant to Resolution No. 87-350, the City
Commission authorized a loan from the Twelfth Year Community
Development Block Grant in favor of the Small Business
Opportunity Center, Inc. ("SBOC"), in the amount of $150,000.00;
and
WHEREAS, said loan was divided to provide two separate
loans, evidenced by two loan agreements, one in the amount of
$33,000.00 and one in the amount of $117,000.00; and
WHEREAS, the $33,000.00 loan ("the Loan") was earmarked for
the purchase of the property, to be developed as a parking lot,
CTTy comet .OV
MEETING OF
DEC 0 1 1994
Resolution No.
94- 887
located at 1419 West Flagler Street, Miami, Florida (the
"Property") and the repayment thereof is secured by a mortgage
encumbering said property (the "Mortgage"); and
WHEREAS, the Latin Chamber of Commerce of the United States,
Inc. ("CAMACOL") wishes to purchase the Property from SBOC
subject to the Mortgage which has an outstanding principal
balance of $29,286.77; and
WHEREAS, CAMACOL has requested the City's consent to its
assumption of the Mortgage;
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 Commission hereby consents to: (1)
the transfer of the property located at 1419 West Flagler Street,
Miami, Florida, by the Small Business Opportunity Center, Inc.,
("SBOC") to the Latin Chamber of Commerce of the United States,
Inc. ("CAMACOL"), subject to a mortgage from SBOC to the City,
securing a loan in the original principal sum of $33,000; and (2)
the assumption of said.mortgage by CAMACOL.
Section 3. The City Manager is hereby authorizedI/ to
execute the necessary document(s), in a form acceptable to the
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.
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City Attorney, to evidence the City's consent to the transfer of
Property by SBOC to the Latin Chamber of Commerce of the United
States, Inc. ("CAMACOL") and CAMACOL's assumption of the Loan and
Mortgage.
Section 4. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 1st day of December 1994.
STEPWEN P. CLARK, MAYOR
AT ST
MAT Y HTRAT
CITY CLERK
PREPARED AND APPROVED BY:
L
OLGA/VAMIREZ-StIJAS
ASSIOTANT CITY Alt=gy
APPROVED AS TO FORM AND CORRECTNESS:
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CTT TTOR
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