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Home My WebLink AboutR-90-0013J-89-1067 1/3/90 RESOLUTION NO. 90--W13 A RESOLUTION, WITH ATTACHMENTSr AUTHORIZING THE CITY MANAGER TO EXECUTE AN AGREEMENT OF PURCHASE AND SALE, FOR THE PROPERTY LOCATED AT 250-76 NORTHWEST LOTH STREET, MIAMI, FLORIDAr IN SUBSTANTIALLY THE ATTACHED FORM) FOR THE PRICE AS STATED HEREIN BETWEEN THE CITY OF MIAMI ("PURCHASER") AND ALEX MOYER III ("SELLER") FOR THE TOTAL PURCHASE PRICE OF $121,000 WITH FUNDS FOR THE ACQUISITION OF SAID PROPERTY HAVING BEEN APPROPRIATED IN CAPITAL IMPROVEMENT PROJECT NO. 322057, ENTITLED SOUTHEAST OVERTOWN/PARK WEST PHASE IIr FOR THE PURPOSE OF DEVELOPMENT OF THE SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT; FURTHER AUTHORIZING THE CITY ATTORNEY TO TARE WHATEVER STEPS ARE NECESSARY TO CLOSE THE TRANSACTIONS WITH THE SELLER AS EARLY AS PRACTICABLE. WHEREAS, the Department of Development has initiated the development of the Historic Village located within the Southeast Overtown%Park West Redevelopment Project; and WHEREAS, the City contracted with two independent appraisers and two independent appraisals for said property were prepared by Ralph Ross Real Estate Co., Inc. and ANCLA Realty, Inc., with which the resulting appraised values being $65,144 and $125,000, respectively; and a review appraisal was conducted by Moses Florence and his review concluded the fair market value to be $108,000; and WHEREAS, the Seller has agreed to an offer from the City in an amount of $121,000; and WHEREAS, funds for the acquisition of property have been appropriated in Capital Improvement Project No. 322029, entitled "Southeast Overtown%Park West Phase I "; rt. execute an agreement of purchase and sale'/, in substantially the attached form, for price as stated herein, between the City of Miami ("Purchaser") and the following ("Seller") for the purchase and sale of the property as described herein for the total purchase price of $121,0001 Seller Price property Alex Moyer III $121,000 250-76 Northwest 10th Street Section 2. Funds for the acquisition of said property have been appropriated in Capital Improvement Project No. 322057 entitled "Southeast Overtown/Park West Phase II. Section 3. The City Attorney is hereby authorized to take whatever steps are necessary to close the transactions with the seller as early as practicable. Section 4. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 11th day of January , 1990. — A S HIRAI CITY CLERK CAPITAL IMPROVEMENT PROJECT REVIEW: A EDUARDO RODRMMEZ C I P MANAGER -' PREPARED AND APPROVED BY: = LINDA KELLY KEAPMN bas/M1325 XAVIER L. SUARFZ, APPROVED AS TO FORM AND Xc AGREEMENT OF PURCHASE AND SALE PARCEL NO. 26-4 THIS AGREEMENT entered into this day of , 1989 by and between THE CITY OF MIAMI, Dade County ,�Fior a a Municipal Corporation, hereinafter .referred to as "CITY", and Alex Moyer III whose property is currently located at 250-76 NW 10th Street 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 on Exhibit "A" attached hereto and made a part hereof, and WHEREAS, the CITY desires to purchase said property for use in conjunction with the Southeast Overtown/Park West Redevelopment Plan, and the Overtown Historic Folklife Village. NOW, THEREFORE, it is hereby covenanted and agreed between the parties as follows: 1. In consideration of the CITY paying the SELLER the sum of one hundred and twenty one thousand dollars ($121,000) 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 which are legally described on Exhibit A attached hereto, and made a part hereof. 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 sixty (60) days from the date of the execution of this Agreement by the CITY and SELLER. The CITY will sign the agreement within ten (10) days of the City Commission approval of this contract. 3. All past due real estate taxes shall be paid by the SELLER. All taxes and assessments of record for the year 1989, .shall be prorated as of the date of closing and shall be paid or satisfied by the SELLER prior to 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. 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 land 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. PARCEL No. 26-4 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, surveys, teats, soundings, and appraisals. 7. If the abstract of title to be obtained by the CITY does not meet the requirements set forth in Paragraph 1 and if defects in the title cannot be cured by ordinary means, then the SELLER agrees to cooperate with and assist the CITY and Dade County to acquire title to said land by condemnation or other judicial proceedings. The SELLER agrees that he is not entitled to any fees or costs in connection with the foregoing. a. 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 Statute. 9. If SELLER is entitled to receive any additional payments under the Uniform Relocation Payment Act, it is understood that this Agreement does not prohibit the SELLER from exercising his rights thereunder. 10. This Agreement shall be binding upon the heirs, executors, administrators and assigns of the parties. 11. This Agreement shall be governed according to the laws of the State of Florida. 12. The SELLER understands that this offer is subject to the approval of the City Commission of the City of Miami, Florida. 13. This Agreement may become voidable by the CITY, at the CITY's sole discretion, in the event that any hazardous material (including, but not limited to asbestos), waste or toxic substance is stored or found in or on the Property of any part thereof. In the event that the CITY determines there is any hazardous material, waste or toxic substance found in or on the Property, the CITY, as an alternative to voiding this Agreement, may take any corrective actions necessary to remove or eliminate such hazardous material, waste or toxic substance and the SELLER shall either pay for such removal or elimination or deduct the cost of the same from the purchase price. PARCEL No. 26-4 15. 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. SELLER: Witnesses: (two required) By As to an irk ivi al ATTEST: CITY OF MIAMI, a Municipal Corporation of the State of Florida _ By _ MATTY HIRAI CESAR H. ODIO CITY CLERK CITY MANAGER APPROVED AS TO FORM AND CORRECTNESS: JORGE L. FERNANDEZ CITY ATTORNEY P ARW\ eAll PARCEL NO. 26-4 EXHIBIT A CITY OF MIAMI SOUTHEAST OVERTOWN/PARI{ WEST REDEVELOPMENT PROJECT STATEMENT OP JUST COMPENSATION 1. PROPERTY DESCRIPTION: Lots 3, 4, 5 and 6, of P.W. White ReSub of Block 26N a subdivision accior.ding to the Plat thereof, as recorded in Plat Hook B, at Page 34, of the Public Records of Dade County, Florida. 2. OWNERS OF RECORDS: Alex Moyer III 3. FEE SIMPLE: $121,000 4. BASIS OF JUST COMPENSATION: The City's offer represents the full amount of .lust Compensation for the property and all interests therein to be acquired. This offer is based on the Fair Market Value of the subject property and is not less than appraisal made by a competent professional appraiser. The subject property has been inspected by the City and by the independent appraiser. FAIR MARKET VALUE IS DEFINED AS: The price estimated in terms of money, which a property would bring if exposed for sale in the market with a reasonable time allowed in which to find a purchaser buying with the knowledge of all the uses and purposes to which it is adopted and of which it is capable. Any decrease or increase in the Fair Market Value of real property to the date of valuation caused by the public improvement for which such property is acquired, or by the likelihood that the property would be acquired for such improvement, other than that due to physical deterioration within the reasonable control of the Owner, has been disregarded in determining the compensation for the property by the City and its appraiser., The City of Miami's appraisal and determination of just compensation do not reflect any consideration of, or any PARCEL NO. 26-4 5. ALLOCATION OF VALUATION: The following represents ;.; summary of ti•te City's offer to you and the basis thereof. REAL ESTATE: LAND $121,000 IMPROVEMENTS -0- FIXTURES -0- 'DOTAL JUST COMPENSATION $121,000 CITY OF MIAMI, FLORID CA=18' INTER-OFFICE MEMORAN01,17R TO: Honorable Mayor and Members X City Commission . Odio FROM City Manager RECOMMMUIATION: DATE D E C 2 0 1989 FILE SUBJECT Agreement of Purchase and Rate For Commission: Meeting REFERENCES of January 11, 1989 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 250-76 NW 10th Street, in substantially the form attached, between the City of Miami ("Purchaser") and Alex Moyer III ("Seller"), for the total price of $121,000. BACKGROUND: The Department of Development recommends the execution of an agreement to purchase land owned by Alex Moyer III at the negotiated price of $121,000. The Department of Development 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 two(2) independent appraisers to provide a fair market estimate for the above mentioned property. The two(2) independent appraisals, for said property, were prepared by Ralph Ross Real Estate Co., Inc. and ANCLA Realty, Inc. of which the resulting appraised values were $65,144 and $125,000 respectively. Additionally, the City ordered a review appraisals due to the large disparity between the two said appraisals. The review appraisal was prepared by Moses Florence, with a resulting value of $108,000. The perimeter used for negotiation were the review appraisal of $108,000 and the appraisal prepared by ANCLA Realty of $125,000. The City, through negotiation, reached an agreement with the owner of $121,000 which results to $11.00 per square foot. This price is in agreement with a previous land agreement accepted by the City within the Village. Additionally, there are no cost for relocation or demolition. The funds for the acquisition of appropriated in Capital Project No. Overtown/Parr West Phase II". the subject property are 322057 entitled "Southeast Attachments: Proposed Resolution Agreement of Purchase and. Sale