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HomeMy WebLinkAboutR-87-1007f 3-87-1013`+ 10/29/87 RESOLUTION NO.S7-1007 A RESOLUTION AUTHORIZING THE CITY MANAGER TO SECURE AN OPTION TO PURCHASE THE PROPERTY LOCATED AT 401 BRICKELL AVENUE AT A PURCHASE PRICE NOT TO EXCEED ITS APPRAISED VALUE; FURTHER AUTHORIZING THE CITY MANAGER TO ISSUE AN INVITATION TO BID FOR THE PURCHASE OF CITY OWNED BRICKELL PARK AT 501 BRICKELL AVENUE AT A PRICE NOT LESS THAN ITS APPRAISED VALUE OR FOR SIMILARLY SITUATED AND could sell Brickell Park and realize sufficient proceeds to purchase the Brickell Point property; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA; CITY COMMISSIC MEETING OF NOV 19 1987 Rescinded by R-96-139 Section 1. The City Manager is hereby authorized to secure an option based on the consideration of $100 to purchase the property located at 401 Brickell Avenue and known as Brickell Point for an amount not to exceed its appraised value, conditioned upon the City selling the Brickell Park property at 501 Brickell Avenue for an amount not less than its appraised value or for similarly situated and sized property of equal or greater value suitable for park development in the cke area. Section 2. The City Manager is hereby aut zed t ssue an invitation to bid in a form acceptable to a Ci At to for the purchase of City owned Brickell Par Ol Br ell Avenue at a purchase price not less th pr d lue or for similarly situated and sized p erty of al r greater value suitable for park devel ent n the rickell area, subject to compliance with all a cab and all legal requirements for the sale o operty as specified in the Code and Charter. PASSED AND ADOPTED sii�19 av November 1987. AND APPROVED BY: ROBERT F. CLARK CHIEF DEPUTY CITY ATTORNEY APPROVED A AO FORM AND CORRECTNESS: LUCIA A:—DOUGiVRTY, CITY ATTORNEY —2- 87--1007 Rescinded by R-96-139 0 P 35 CITY OF MIAMl, FLORIDA INTER -OFFICE MEMORANDUM To: The Honorable Mayor and a r. NOV 41987 04LE, Members City of Miami Commission suviacT: Resolution Authorizing the City Manager to; 1. Proffer an Option to purchase on the Fptow Cesar Odio R[FEPro rty located at 401 Brickell Ave. l+ ABrickell Point); City Manager Issuean RFP for the sale of Brickell ENCLfarT:at 501 Brickell Avenue at Fair RECOMMENDATION It is recommended that the City Commission adopt the attached Resolution authorizing the City Manager to proffer $100 to secure an option to purchase the Brickell Point property located at 401 Brickell Avenue at a purchase price not to exceed its appraised value and conditioned upon the City's sale of Brickell Park at a price not less than its appraised value, or for similarly sized and situated land of comparable value in the Brickell area suitable for park development; further authorizing the City Manager to issue an invitation to bid in a form acceptable to the City Attorney for the purchase of Brickell Park at a price not less than its Fair Market Value at highest and best use, or for similarly sized and situated land of comparable value in the Brickell area suitable for park development. BACKGROUND Brickell Park and adjacent burial ground was •cuntribuLed to the City by the Brickell Family in 1924. The park was the gravesite for seven members of the Brickell Family until 1951 when the bodies were exhumed and moved to Woodlawn Cemetery. The park is a passive park with few .furnishings and is seldom used by other than drifters. The park occupies approximately 2.5 acres with 172 linear feet of Bay frontage. The property known as Brickell Point, where the Brickell Point Apartments are currently situated, is located on Biscayne Bay at the mouth of the Miami River on the south side of the river. 35- 1 8'7-1007 MEMORANDUM Page Two The 'property contains approximately 2.2 acres and has approximately 300 linear feet -of Bay frontage and 500 linear feet of river frontage. It is the former site of the Brickell Family's Trading Post that was a commercial nucleus of early Miami. Although ideally located. in aesthetic terms, the Brickell Point property, has access and visibility problems created by the Brickell ' Beid-ge that detract from its desirability as a commercial :property. However, the land is ideally suited for The owner of the Brickell Point Property has indicated his willingness to negotiate with the City for the purchase of the property as long as commitments can be made prior to January, 1988, when he will be obliged to commit.to other financial arrangements regarding the property. Two MAI appraisals commissioned by the Downtown Development Authority have been conducted on Brickell Park. As per Section. 18-80(3) of the Code, the higher of the two appraisals is deemed the appraised value. The Downtown Development Authority also commissioned an appraisal of the Brickell Point property. Time is of the essence. In order not to jeopardize the City's chance to acquire the Brickell Point property, we must move quickly on both the sale of Brickell Park and the option to purchase Brickell Point which could become a magnificent waterfront park. CO/ca Encl. 7 877-1007