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Home My WebLink AboutR-92-0020J-92-8 12/23/91 RESOLUTION NO. � A RESOLUTION, WITH ATTACHMENTS, AUTHORIZING THE CITY MANAGER TO EXECUTE A PURCHASE AND SALE AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORM, FOR THE SALE OF THE PROPERTY KNOWN AS FORMER FIRE STATION NO. 9, LOCATED AT 7561 NORTHEAST FIRST AVENUE, MIAMI, FLORIDA, TO PATRICK AND YVROSE BEAUREGARD, SAID PURCHASERS BEING THE PRINCIPALS OF THE EXISTING MONTH -TO -MONTH TENANT, HOPE PRE- SCHOOL, INC., AS WELL AS THE HIGHEST BIDDER PURSUANT TO AN INVITATION TO BID FOR SALE. WHEREAS, Resolution No. 85-662, adopted June 20, 1985, authorized the issuance of an Request For Proposals for the lease of the property known as Former Fire Station No. 9, located at 7561 Northeast First Avenue, Miami, Florida; and WHEREAS, the City entered into a lease agreement for said property with Hope Pre -School, Inc. on March 17, 1986; and WHEREAS, the City of Miami acknowledges that Hope Pre - School, Inc. performed substantial improvements and renovations to the property at a cost of $217,500.00; and WHEREAS, said costs have been determined to be a true and correct figure by Sharpton, Brunson & Company, P.A., Certified Public Accountants, and by the City of Miami Department of Internal Audits and Reviews; and :Tr T ` � N T S uunTID Crfr COMMISSION •-L. MEETING OF..,� JAN 9 .1992 9 2- p LA WHEREAS, the City Commission passed Motion 89-171 on February 9, 1989, which instructed the City Manager to commence steps toward the sale of said property; and WHEREAS, an update appraisal was conducted in February, 1991 which established the market value of the property at $240,000 and established the depreciated renovation cost at $206,625; and WHEREAS, a competitive bidding process was conducted on June 18, 1991 and three bids were received and opened on September 16, 1991 in the amounts of $240,000, $240,200, and $240,500; and WHEREAS, the highest bid was from Patrick and Yvrose Beauregard, the principals of the present tenant, Hope Pre - School, Inc.; 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 to enter into a Purchase and Sale Agreementl/, in substantially the attached form, with Patrick and Yvrose Beauregard, principals of Hope Pre -School, Inc., for $33,875 which represents the $240,500 sale price minus renovation costs and depreciation. 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- 92-- 2Wp Aft Section 3. This Resolution shall become effective immediately upon adoption. PASSED AND ADOPTED this 9th day of January , 1992. ATTEST: - • MATTIZ HIRAI, CITY CLERK PREPARED AND APPROVED BY: C�5� JULI ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: JOB/mv/M2718 -3- 92--- 20 AGREEMENT OF PURCHASE AND SALE THIS AGREEMENT, entered into this day of , 1991, by and between the CITY OF MIAMI, Dade County, Florida, a Municipal Corporation, hereinafter referred to as "CITY", and PATRICK AND YVROSE BEAUREGARD, currently residing/located at 1660 Northwest 126th Street, Miami, Florida 33167, hereinafter referred to as the "PURCHASER." W I T N E S S E T H WHEREAS, the CITY is owner of the real property located at 7561 Northeast First Avenue, Miami, Florida and legally described in EXHIBIT "A" attached hereto and made a part hereof, hereinafter referred to as the "Property". NOW, THEREFORE, in consideration of the sum of $5,000 Dollars, said sum having been submitted to CITY by PURCHASER pursuant to the requirements of The Invitation to Bid For Sale of Former Fire Station No. 9, and other good and valuable consideration, it is hereby covenanted and agreed between the parties as follows: 1. In consideration of the PURCHASER paying the CITY the sum of Thirty-three Thousand Eight Hundred Seventy-five Dollars ($33,875.00), the CITY shall by Statutory Warranty Deed convey to the PURCHASER good, marketable and insurable title, but subject to conditions restrictions, easements and limitations of record, together with all personal property appurtenant to or used in the operation of said premises. 2. The PURCHASER shall pay the CITY the sum set forth in Paragraph (1) hereof. The CITY shall credit toward the 92W,. ?4 sum set forth in Paragraph (1) hereof, the $5,000 good - faith deposit submitted by the PURCHASER minus the cost of conducting the bid competition. 3. The closing shall be ninety (90) days from the date of the execution of this Agreement by the CITY and PURCHASER. 4. The closing shall be held at the Office of the City Attorney. 5. All taxes and assessments of record for the year 1991 shall be prorated as of the date of closing and shall be paid or satisfied by the PURCHASER prior to closing. 6. All certified mortgages, judgments, liens, encumbrances and charges of record against the real property and all pending liens against the real property shall be paid or satisfied by the PURCHASER prior to closing. 7. The PURCHASER assumes all risk of loss or damage to the Property by fire or other casualty, or acts of God, as of the date of execution of this agreement. 8. The property and its contents is sold "as is". CITY makes no representations or warranties whatsoever as to the condition of the property or its contents. 9. PURCHASER agrees that any hazardous waste site investigation, removal and cleanup will be the sole responsibility and expense of the PURCHASER and PURCHASER agrees that it will never institute an action or claim against the CITY, its employees or officials on account of any potential hazardous waste liability. -2- 9 2 --- 20 10. Title to the Property shall be delivered to the PURCHASER on the date of closing. 11. This Agreement shall bind and inure to the benefit of the parties hereto and their successors in interest. 12. This Agreement shall be governed according to the laws of the State of Florida. 13. If this offer is not executed by both parties to the Agreement on or before February 14, 1992, this offer shall thereafter be null and void. The date of the contract shall be the date when the last one of the CITY and SELLER has signed this agreement. 14. If PURCHASER fails to perform this Agreement within the time specified, the $5,000 good faith deposit submitted by the PURCHASER in response to the Invitation to Bid and presently retained by the CITY in consideration of this agreement, shall be retained by the CITY as liquidated damages, consideration for the execution of this Agreement and full settlement of any claims. If, for any reason other than failure of CITY to render marketable title after diligent effort, CITY fails, neglects or refuses to perform this agreement, the PURCHASER may receive the return of his deposit, (minus the cost of conducting the competition) as liquidated damages as sole remedy. 15. PURCHASER may not assign or pledge this Agreement. 16. All recording costs are to be paid by the PURCHASER, including state documentary stamps and surtax on deed and the costs of recording corrective instruments. -3- ��_ '20 17. 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. 18. This instrument and its attachments constitute the sole and only agreement of the parties hereto and currently set forth the rights, duties and obligations of each to the other as of its date. Any prior agreements, promises, negotiations or representations not expressly set forth in this Agreement are of no force or effect. 19. No amendments to this Agreement shall be binding on either party unless in writing and signed by both parties. 20. Time is of the essence in this contract. Dated the date first written above. WITNESSES: PURCHASER: ATTEST: MATTY HIRAI CITY CLERK APPROVED AS TO FORM AND CORRECTNESS: A. QUINN JONES, III City Attorney JOB/mv/M089 -4- By. .Purchaser's name By: Purchaser's name CITY OF MIAMI, a municipal corporation of the State of Florida By: CESAR H. ODIO CITY MANAGER 0?: 20 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO: Honorable Mayor and Members of The Cit Commission FROM Cesar H. Odlo City Manager DATE : e^ E h L O 1991 FILE SUBJECT : Resolution Authorizing Sale of Former Fire Station No. 9 - 7561 N.E. 1 Ave. REFERENCES: For Commission Meeting ENCLOSURES :of January 9, 1992 It is respectfully recommended that the City Commission adopt the attached Resolution authorizing the sale of Former Fire Station No. 9, located at 7561 Northeast First Avenue, Miami, Florida to Patrick and Yvrose Beauregard. Mr. and Mrs. Beauregard are principals of Hope Pre -School, Inc. the current tenant at will, as well as owners of the current value of tenant improvements upon the subject property and the highest bidder in response to the Invitation to Bid for the sale of said property. The Department of Development and Housing Conservation, Property and Lease Management Division, has prepared a Purchase and Sale Agreement by and between Patrick and Yvrose Beauregard and the City of Miami for the sale of Former Fire Station No. 9. Mr. and Mrs. Beauregard have been the tenants on the subject property since March 17, 1986. Resolution 85-662 authorized the issuance of an RFP for the lease of the property which was vacant, vandalized and in disrepair. The proposal of Hope Pre - School, of which Mr. and Mrs. Beauregard are the principals, was accepted for the purpose of operating a preschool and day care facility. The City entered into a lease agreement with Hope Pre - School and the tenant subsequently performed substantial improvements to the property at a cost of $217,500, as audited by Sharpton, Brunson & Company, P.A., Certified Public Accountants. At the time possession was given to Hope Pre -School, the property was worth a fraction of today's market value (land value). The first five-year period of Hope Pre -School's lease ended on March 16, 1991 and the optional five-year renewal is in abeyance pending the conclusion of the Invitation for Bid process for the sale of this property. Hope Pre -School has continued operating on a month -to -month tenancy. This property was administratively classified as surplus since the City had no operational use for it. Pursuant to Motion 89- 171, the City Manager was instructed to commence steps toward the 9 2 -- 20 F' Honorable Mayor and Members of the City Commission Page 2 sale of this property. A competitive bidding process was conducted in 1989 for the sale of the property. At that time, three bids were received however all bids were rejected due to deficiencies and/or irregularities. An update appraisal was conducted in February, 1991 which established the market value at $240,000. A new Invitation to Bid was processed as of June 18, 1991. Three bids were received and opened on September 16, 1991 in the amounts of $240,000; $240,200; and $240,500. The highest bid was from Patrick and Yvrose Beauregard, present tenants and owners of the current value of tenant improvements upon the subj ect. property. Pursuant to the most recent independent appraisal which established the market value to be $240,000, and the highest bid amount, the sales price calculation will be as follows: Sale price Renovation Cost Depreciation Depreciation Renovation Cost/Current Value of Improvements City's Residual Value $217,500.00 10.875.00 $240,500.00 $206, 625. 00 $33,875.00 Therefore, it is hereby recommended that the City Commission adopt the attached Resolution authorizing the sale of Former Fire Station No. 9, located at 7561 Northeast First Avenue, Miami, Florida to Patrick and Yvrose Beauregard, principals of Hope Pre - School, Inc., for $33,875.00. Once the property is sold, it will be added to the tax rolls and taxes to the City will amount to approximately $2,632.68 annually. Attachments: Resolution Purchase and Sale Agreement