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Home My WebLink AboutR-86-0856J-86-897 10/15/66 RESOLUTION NO. A RESOLUTION AUTHORIZING SETTLEMENT IN CONDEMRATIC.N FR.00FkTYGS FOR THE ACQUISITION OF LAID PAROFS, 44-F FFNDINC TN CIRCUIT COURT CASE NO. 60— 3 C08 , YFFRTPY THE CITY MANAGER IS AUTHORIZED 70 PAY AN ADDITIONAL $355,655 AS THE PRICE OF SAID PROPERTY IFFIrH CONSISTS OF 37,600 SQUARE FEET LOCATED AT 80 NORTHWEST 8TH STREET, XIANT, FLORIDA, WITH SAID ADDITIONAL HUNTS TO BE PROVJDTD FROM THE MIAMI SPORTS AND EXHIBITION AUTHORITY CONVENTION DEVELOPMENT TAX BOND PROCEEDS. VNEREAS, the City of Miami has initiated oondemnation of a paroel of land located in the City of Miami in the vicinity of Miami Avenue and Northwest 8th Street at the request of the Miami Sports and Exhibition Authority (Parcel 44-E); and WHEREAS, a trial has been scheduled for November 3, 1986 to establish the value of the property; and WHEREAS, the City has already deposited $744,345 in the Court Registry; and WHEREAS, negotiations have been held between the attorneys representing the landowner, the City Attorney, County Attorney, the attorney for the Sports and Exhibition Authority and a representative of the Department of Development; and WHEREAS, the defendant landowner has secured appraisals from M.A.I. appraisers in the range of $35-$40 per square foot and the herein proposed settlement price is $29.10 per square foot; and WHEREAS, settlement at this time will result in lower anoillary expenses associated with condemnation whioh must be paid by the City inoluding legal fees and appraisals; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Seotion 1. Settlement is hereby authorized to be made in oondemnation proceedings for the acquisition of Land Parcel 44-E pending in Circuit Court Case No. 86-14608, whereby the City Manager is authorized to pay an additional $355,655 as the pride . COMMSS10 EG Or OCT 23 198 trireme tom. Of said property wbich consists of 37,800 square feet looated at 80 North *efit Stb Ft.reet, Ni.ami, Florida.. Seoti0;1 P. T'bp Paid a.cidtti_onal arrouant is to be paid from funds to be p.7 o v i 4 e 3 f r or t•1'te Mi ari Sports and Exbibition Authority Convention Deve)-opment: Tax Bond proceeds. PASSED AND ADOPTED this _.Z3xd_ day of 1988. I(AVIER L. SUAOt, MAYOR ATTEST: r NATTY HIRAI CITY CLERK PREPARED AND APPROVED BY: ROBERT F. CLARK CHIEF DEPUTY CITY ATTORNEY APPROVE AS O FORM AND CORRECTNESS: -a- 'S6 10/15 14:40 X -FF 77e0-7e lRld DEP e2 -- CITY or miAmr. rLaM'!DA IPOTVR4Z�rFICF. MFM,()RANQLJ", 14 To. The Honorable Mayor and C�TF XT Members of the City Commission EUPACT Art Craft Products rRoM Cesar H. Odio City Manager REFERENCRf: RNCLOSNRES. "It is recommended that the City Commission approve the attached Resolution authorizing the settlement of condemnation proceedings initiated against Art Craft Products, 60 N.W. 8th Street with funds provided from the Miami Sports & Exhibition Authority Convention Development Tax Bond Proceeds. The City of Miami initiated condemnation of two parcels of land at the request of the Miami Sports and Exhibition Authority (Parcel 44-E and 57-8). A trial has been scheduled for November 3, 1986 to established the value for the property. The original offering price made in April 1985 for Parcel 44-E, (Art Craft Products Company, 80 N.W. 8th St.) was $744,345 (real property and immovable fixtures) the City also offered a bonus of $38,500. This offer was rejected by the owner and condemnation proceedings were filed in April. Negotiations have been held between the attorneys representing Art Craft Products, the City attorney, County attorney, attorney for the Sports and Exhibition Authority and a representative from the Department of Development. The City revised its offer to $1,000,000 which was countered by an offer of $1,100,000 from the property owner. The owner originally demanded $1,200,000. It is recommended that consideration be given to settlement at $1,100,00 based on the following factors: 1. The 1985 assessed value of the property wRs $706,136, the 1986 assessment is $857,336 reflecting a 21% increase. 4=.8840? 10/10/86 RESOLUTION NO. ♦ i • A RESOLUTION AUTHORI?ING SETTLEMENT IN CONDEMNATION PROCEEDINGS FOR THE ACQUISITION OF LAND PARCEL 44-F PENDING IN CIRCUIT COURT CASE NO, 86- 3 4608 , YHERFBY THE CITY .MANAGER IS AUTHORIr,FD TO PAY AN ADDITIONAL $355,655 AS THE PRICE OF SAID PROPERTY WHICH CONSISTS OF 37,800 SQUARE FEET LOCATED AT 80 NORTHWEST 8TH STREET, MIAMI, FLORIDA, WITH SAID ADDITIONAL FUNDS TO BE PROVIDED FROM THE MIAMI SPORTS AND EXHIBITION AUTHORITY CONVENTION DEVELOPMENT TAX BOND PROCEEDS. WHEREAS, the City of Miami has initiated condemnation of a parcel of land located in the City of Miami in the vicinity of Miami Avenue and Northwest 8th Street at the request of the Miami Sports and Exhibition. Authority (Parcel 44-E); and WHEREAS, a trial has been scheduled for November 3, 1986 to establish the value of the property; and WHEREAS, the City has already deposited $744,345 in the Court Registry; and WHEREAS, negotiations have been held between the attorneys representing the landowner, the City Attorney, County Attorney, the attorney for the Sports and Exhibition Authority and a representative of the Department of Development; and WHEREAS, the defendant landowner has secured appraisals from M.A.I. appraisers in the range of $35-$40 per square foot and the herein proposed settlement price is $29.10 per square foot; and WHEREAS, settlement at this time will result in lower ancillary expenses associated with condemnation which must be paid by the City including legal fees and appraisals; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. Settlement is hereby authorized to be made in i condemnation proceedings for the acquisition of band Parcel 44-E pending in Circuit Court Case No. 86-14608, whereby the City — Manager is authorized to pay an additional $355,655 as the price -Cl"' COMMSS10 MEETING OP OCT 23 1986 rN No. �"'6 } E"MKS. Of said property which consists of 37,800 square feet located at 80 Northwest 8tb Street, Miami, Florida. Section 2. The FA3.0 r,!idt.tA0 na]. amotsnt is to be paid from funds to be y o d 5 (')ed f T om t,be Yt ar i. Sports and Exhibition Authority Convention Developrent. Tax Pond prOeeeds . PASSED AND ADOPTED this 3rdday of c�tobrzlr_ 1986. J(AVIER L. SUA MAYOR ATTEST: i NATTY HIRAI CITY CLERK PREPARED AND APPROVED BY: ROBERT F. CLARK CHIEF DEPUTY CITY ATTORNEY APPROVE AS � O FORM AND CORRECTNESS: LUCIA A. DOUGHERTY CITY ATTORNEY i RFC:bss:M234 �a ie•Is 14+4e LOW qFt r] CITY OF MIAMT, rt0%0 r?DA INTER-orricr mrm.,CJR/!f Dvm To The Honorable Mayor and Members of the City Commission FROM Cesar H. Odio City Manager oATE X f 1 6 ICA SURACT Art Craft Products REFCRENers: %NCLOSURES. I "It 1s recommended that the City Commission approve the attached — Resolution authorizing the settlement of condemnation proceedings initiated against Art Craft Products, 80 N.W. 8th Street with funds provided from the Miami Sports b Exhibition Authority Convention Development Tax Bond Proceeds. The City of Miami initiated condemnation of two parcels of land at the request of the Miami Sports and Exhibition Authority (Parcel 44-E and 57-8). A trial has been scheduled for November 3, 1986 to established the value for the property. The original offering price made in April 1985 for Parcel 44-E, (Art Craft Products Company, 80 N.W. 8th St.) was $744,345 (real property and immovable fixtures) the City also offered a bonus of $38,500. This offer was rejected by the owner and condemnation proceedings were filed in April. Negotiations have been held between the attorneys representing Art Craft Products, the City attorney, County attorney, attorney for the Sports and Exhibition Authority and a representative from the Department of Development. The City revised its offer to $1,000,000 which was countered by an offer of $1 ,100,000 from the property owner. The owner originally demanded $1.200,000. It is recommended that consideration be given to settlement at $1,100,00 based on the following factors: 1. The 1985 assessed value of the property was $706,136, the 1986 assessment is $857,336 reflecting a 21% increase. 1. @6 1F-t5 fs:<Q The Honorable Mayor and Members of the City Commission Page 2 3A� �T44738 L.R® - 2. The defendant has secured appraisals from M.A.I. appraisers in the range of $35440 per square foot versus our value of $19.00 (includes fixtures and bonus). The proposed settlement price is $29.10 per square foot- includes the immovable fixtures which we valued at $24.345 and for which the owner has obtained his own fixture appraisal at $75,000, 3. Settlement at this time wi l l result in lower ancillary expenses associated with condemnation which must be paid by the City including legal fees, appraisals etc. It should he noted that a value of $1,1.00,00 is in excess of fair market value for the property according to discussions held with the Review Appraiser for Dade County and Mark Quinlivan M.A.I., who has initiated a preliminary review of the appraisal. The additional funding of ($355,555) for this project will be provided from the Miami Sports and Exhibition Authority Convention Development Tax Bond proceeds.