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Home My WebLink AboutR-92-0305r- J-92-237 S/6/92 0 ow 92- 305 RESOLUTION NO. A RESOLUTION, WITH ATTACHMENTS, AUTHORIZING THE CITY MANAGER TO EXECUTE AN AGREEMENT OF PURCHASE AND SALE, FOR THE PROPERTY LOCATED AT 915-917 NORTHWEST 3RD AVENUE, MIAMI, FLORIDA, IN SUBSTANTIALLY THE ATTACHED FORM, FOR THE PRICE AS STATED HEREIN BETWEEN THE CITY OF MIAMI ("PURCHASER") AND OVERTOWN DEVELOPMENT GROUP, INC. ("SELLER") FOR THE PURCHASE AND SALE OF SAID PROPERTY (MORE PARTICULARLY DESCRIBED HEREIN), FOR THE TOTAL PURCHASE PRICE OF $172,776, WITH FUNDS THEREFOR FOR THE ACQUISITION OF SAID PROPERTY BEING APPROPRIATED FROM CAPITAL IMPROVEMENT PROJECT NO. 322057, ENTITLED SOUTHEAST OVERTOWN/PARK WEST PHASE II, FOR THE PURPOSE OF DEVELOPMENT OF THE SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT (THE HISTORIC VILLAGE); FURTHER AUTHORIZING THE CITY ATTORNEY TO TAKE WHATEVER STEPS .ARE NECESSARY TO CLOSE THE TRANSACTION WITH THE SELLER AS EARLY AS PRACTICABLE. WHEREAS, the Development Division of the Department of Development and Housing Conservation has initiated the development of the Historic Village located within the Southeast Overtown/Park West Redevelopemnt Project; and WHEREAS, the City contracted with an independent appraiser and an independent appraisal for said property was prepared by Luke A Ross. NFA of Ralph Ross Real Estate Company, Inc. with the resulting appraised value being $172,775; and CITY COMOSSION KEETING OF. ATTAC�Tt MENT (S) MAY 1 4 1992 C 0 �{ a � Q E ® Resolution rlo. !t !�� 92-- 305 C2 E3 WHEREAS, through negotiation the Seller has agreed to an offer of $172,776; and WHEREAS, funds for the acquisition of said property are appropriated in Capital Improvement Project No. 322057, entitled, "Southeast Overtown/Park West Phase II"; NOW, THEREFORE, BE IT RESOLVED BV THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section I. The City Manager is hereby authorized to execute an Agreement of Purchase and Sale`/, in substantially the attaahed form, for price as stated herein, between the City of Miami ("Purchaser") and the Overtown Development Group, Ino. ("Seller") for the purchase and sale of the property as described herein for the total purchase price of $172,775. PURCHASE $$LL$$ PRICE PROPERTY ADDEM Overtown Development $172,775 915-917 Northwest 3rd Avenue Group, Inc. Miami, Florida Seotion 2. Funds for the acquisition of said property are hereby appropriated from Capital Project No. 322057 entitled, "Southeast Overtown/Park West Phase II. Section 3. The City Attorney is hereby authorized to take whatever steps necessary to close the transaction with the Seller as early as practicable. 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. 5�c 92- 305 Z3 Seotion 4. This Resolution shall beoome effeotive immediately upon its adoption. PASSED AND ADOPTED this 14th day of ATTEST: MATTY HIRAI, CITY CLERK PREPARED AND APPROVED BY: rri. attg-- LINDA K. KEARSON ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: LKK:osk:M2918 , 1992. CAPITAL IMPROVEMENTS PROJECT REVIEW: IIARDO D GIIE2 CAPITAL�MPROVEMENT HANAGER .01 AGREEMENT OF PURCHASE AND SALE THIS AGREEMENT entered into this day of , 1992, by and between THE CITY OF MIAMI, Dade County, Florida, a Municipal Corporation of the State of Florida, hereinafter referred to as "CITY," and OVERTOWN DEVELOPMENT GROUP, INC., residing/located at 1818 WEST FLAGLER STREET, Miami, Florida 33135, hereinafter referred to as "SELLER." W I T N E S S E T H: WHEREAS, the SELLER is owner of that real property more fully described as Lots 28, 29 & 36 of P.W. WHITES RESUB OF BLOCK 26 NORTH, a subdivision according to the Plat thereof, as recorded in Plat Book B, at Page 34 of the Public Records of Dade County, Florida, also known as 915-917 Northwest 3rd Avenue, and WHEREAS, the CITY desires to purchase said property for use in conjunction with the Southeast Overtown/Park West Redevelopment Plan. NOW, THEREFORE, it is hereby convenanted and agreed between the parties as follows: 1. In consideration of the CITY paying the SELLER the sum of One Hundred Seventy -Two Thousand Seven Hundred Seventy -Five Dollars ($172,775), the SELLER shall, by General Warranty Deed, convey to the CITY good, marketable and insurable title, free of liens and encumbrances to that certain real property, (together with the improvements, hereditaments and appurtenances attached thereto). 2. The CITY shall pay the SELLER the sum set forth in paragraph (1) hereof, minus any sums to be held or given to others pursuant to the terms of this Agreement, by CITY Warrant at the closing within ninety (90) days from the date of the execution of this Agreement by the CITY and SELLER. 3. All past due real estate taxes shall be paid by the SELLER. All taxes and assessments of record for the year 1992 shall be prorated as of the date of closing, and shall be paid or satisfied by the SELLER prior to x closing. , 4. All certified 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 SELLER prior to closing. Page 1 of 4 92- 305 5. The SELLER agrees that loss or damage to the property by fire or other casualty, or acts of God, shall be at the risk of the SELLER until the title to the property and deed to the CITY have been accepted by the CITY. In the event that such loss or damage occurs, there shall be an adjustment of the purchase price, which adjustment shall be determined solely by the CITY. 6. Title to the property shall be delivered to the CITY on the date of closing. Beginning on the date of closing, the CITY shall have the right to commence collection of rent from any party(s) occupying the subject property. However, from and after the execution of this instrument, the CITY, its agents and its contractors shall have the right to enter upon the premises to be conveyed for making studies, tests, soundings, and appraisals. 7. Within fifteen (15) days from the date of execution of this Agreement, the SELLER shall cause to be delivered to the CITY the abstract of title to the real property brought to the date hereof. 8. If the abstract of title does not meet the requirements set forth in Paragraph One (1) and if defects in the title cannot be cured by ordinary means, than the SELLER agrees to cooperate with and assist the CITY and Dade County to acquire title to said property by condemnation or other judicial proceedings. The SELLER agrees that he is not entitled to any fees or costs in connection with the foregoing. 9. Documentary Stamps and surtax on the deed and the cost of recording any corrective instruments shall be paid by SELLER. 10. If the SELLER is a corporation, partnership or trust, SELLER hereby agrees to comply with Section 286.23 Florida Statutes by making a written Public Disclosure, under oath, of the names and addresses of every person(s) having beneficial interests in the Real Property being conveyed to the CITY, unless specifically exempt by provisions of said Statutes. 11. If SELLER is entitled to receive any additional payments under the Uniform Relocation Act, it is understood that this Agreement does not prohibit the SELLER from exercising his rights thereunder. 12. This Agreement shall be binding upon the heirs, executors, administrators and assigns of the parties. Page 2 of 4 92- 305 13. This Agreement shall be governed a000rding to the laws of the State of Florida. 14. The SELLER understands that this offer has been approved by the City Commission of the City of Miami, Florida by Resolution No. 18. Prior to closing SELLER must provide the CITY with a Level I Environmental Testing Report prepared by a State Certified Contractor, certified by the Florida Department of Environmental Regulation (DER). Said report must indicate that the property or any part thereof is free of environmental contamination including any hazardous material (including but not limited to asbestos), waste or toxic substances. In the event that environmental contamination is found, it shall be the sole responsibility of the SELLER to perform the removal of any environmental contamination currently existing on the subject property in a000rdanoe with the Department of Environmental Regulation (DER) and the CITY. 16. This instrument constitutes the sole and only Agreement of the parties hereto relating to said services and correctly sets 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. 17. If this Agreement is not executed by both parties to the Agreement on or before July 31, 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 offer. 18. No amendments to this Agreement shall be binding on either party unless in writing and signed by both parties. IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by the respective officials thereunto duly authorized, this the day and year first above written. Page 3 of 4 92- 305 7A ATTEST: (two required) SELLER: Overtown Development Group, Ino. BY Salomon Yuken, President ATTEST: CITY OF MIAMI, a Municipal Corporation of the State of Florida BY —" MATTY HIRAI CESAR H. ODIO CITY CLERK I CITY MANAGER APPROVED AS TO FROM AND CORRECTNESS: A. QUINN JONES, III City Attorney Page 4 of 4 52- 305 CITY OF MIAM1, FLORIDA INTEROFFICE MEMORANDUM Honorable Mayor and Members To : of the City Commission At�,�e FROM Cesar Ii. Odio City Manager RECOMMENDATION: DATE ! % f I J92 FILE Acquisition of One SUBJECT : parcel in the Overtown Target Area REFERENCES: City Commission Agenda Item - May 14, 1992 ENCLOSURES: It is respectfully recommended that the City Commission adopt the attached Resolution to execute an Agreement of Purchase and Sale, for the property located at 915-917 Northwest 3rd Avenue, in substantially the form attached, and subject to the City Attorney's approval as to form and correctness, between the City of Miami ("PURCHASER") and Overtown Development Group, Inc. ("SELLER"), for the total price of $172,775. BACKGROUND: The Department of Development and Housing Conservation recommends the execution of an agreement to purchase land owned by Overtown Development Group, Inc. at the negotiated price of $172,775. The Department of Development and Housing Conservation has aggressively begun development within the Historic Overtown Village area, which is a component of the Southeast Overtown/Park West Redevelopment Project. The subject property to be acquired is located within the boundaries of the Overtown Historic Village (Village). The City contracted with an independent appraiser to provide a fair market estimate for the above -mentioned property. The independent appraisal, for said property, was prepared by Luke A. Ross, NFA, of. Ralph Ross Real Estate Company, Inc. of which the resulting appraised value was $172,775. The funds for the acquisition of the subject property are appropriated in Capital Project No. 322057 entitled "Southeast Overtown/Park West Phase II." EL