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Home My WebLink AboutR-86-0538J-86-425 RESOLUTION N0. 19(;-538: , A RESOLUTION AUTHORIZING THE CITY MANAGER TO PURCHASE ONE PARCEL OF LAND (PARCEL 25-I) LOCATED WITHIN THE SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT AREA AT THE RATE PREVIOUSLY ESTABLISHED BY THE CITY COMMISSION AND FURTHER AUTHORIZING THE CITY ATTORNEY TO PROCEED TO CLOSE ON THIS PARCEL AFTER EXAMINATION OF THE ABSTRACT AND CONFIRMATION OF OPINION OF TITLE. WHEREAS, the City Commission by Resolution No. 82-755 approved in principle the Southeast Overtown/Park West Redevelopment Plan; and WHEREAS, the City Commission approved in principle the Phase I Overtown Transit Station Impact Area proposal for the Southeast Overtown/Park West Community Redevelopment Area by Resolution No. 83-972; and WHEREAS, the City Commission has declared that the best method to redevelop Southeast Overtown/Park West is by a Unified Development Project (Resolution No. 84-893); and WHEREAS the City Commission has authorized the City Manager to initiate the acquisition of properties within the Southeast Overtown/Park West Community Redevelopment Project Area (Resolution No. 86-251); and WHEREAS, the City Commission established procedures for the acquisition of land through negotiated purchase in the Southeast Overtown/Park West Redevelopment Area (Resolution No. 85-396); and CITY COURSE MEETING OF JUL M 53 RESOLUTION No. K WHEREAS, further by Resolution No. 85-396, the City Manager was authorized to enter into agreements to purchase real estate in the project area pending final Commission ratification for a price not to exceed the appraised value of the property to be acquired, plus a bonus of up to ten percent on the first $50,000 and up to five percent on any amount over $50,000; and WHEREAS, the City Manager has entered into negotiations with landowners for purchase of the parcels remaining within Phase I of the project area that are not presently owned by the City; and WHEREAS, the City Manager has negotiated an agreement with a land owner and has made a formal offer to purchase a parcel (Parcel 25-I) which is identified and described in Table I attached hereto and made a part hereof; and WHEREAS, the negotiated settlement price on this parcel is higher than that approved by the City Commission based on a reappraisal of this parcel but is within a 15% contingency range reserved for such increases; and WHEREAS, funds from the proceeds of the General Obligation Housing Bond Funds are available for acquisition; and WHEREAS, the cost of this parcel to the City would not exceed estimated costs based on appraised values, commensurate bonus, schedules, and contingencies previously approved by the City Commission (Resolution Nos. 85-394 and 85-396); and WHEREAS, the amounts set forth in Table I are reasonable and in keeping with the costs of acquiring property through the normal negotiation process; and WHEREAS, a portion of the proceeds of this sale will satisfy a second mortgage held by the City in excess of $60,000. 86-53&W -2- NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. This Commission hereby finds, determines, and declares that the matters set out in the foregoing recitals are true and correct and they are hereby incorporated by reference as if fully set forth in this section. Section 2. The City Manager is hereby authorized to execute a purchase of the property identified at the costs stated in Table I for anticipated use as part of the Southeast Overtown/Park West Redevelopment Project subject to the availability of funds provided for in the foregoing paragraphs. Section 3. The City Attorney is hereby authorized to proceed to close on this property after examination of the Abstract and confirmation of an Opinion of Title. PASSED AND ADOPTED this 10th day of JULY , 1986. ATTE ST:� 01%-- - PREPARED AND APPROVED BY: /ro4t;� ��v & APPROVED AND CORRECTNESS -3- 8F-539,. OWNERS)/ADDRESS Josephine Aldrich 3575 Plaza Street Coconut Grove, FL m t!I tlt W 1 Lt TABLE I: DESCRIPTION, IDENTIFICATION, AND COST OF PARCELS -- S.E. OVERTOWN/PARK WEST PROJECT PHASE I PARCEL # LEGAL DESCRIPTION 25-I Lot 14, Block 25 Miami North (PB B-41) NEGOTIATED SETTLEMENT PRICE LAND BUILDING FIXTURES SUB TOTAL BONUS TOTAL 34,000 56,000 -0- 90,000 18,000 108,000 CITY OF MIAM1, FLORIDA INTER -OFFICE MEMORANDUM 105 TO. The Honorable Mayor and Members of the City Commission FROM: Cesar H. Odio City Manager DATE: J U `, 1 1986 FILE: S.E. OYERTOWN/PARK WEST SUBJECT: CLOSING PROCEDURES ON PARCEL PURCHASES REFERENCES: CITY COMMISSION AGENDA July 10, 1986 ENCLOSURES: (3) It is recommended that the City Commission approve the attached Resolution authorizing the City Manager to purchase one parcel ot landocate w1thin Fhase I ot the ou , eas Overtown/Park Westa eve opmen rea a e value negotiate on Wlth a closing bonus valued at the rate established by the City Commission and further authorizing the City Manager to proceed to close on this parcel. On April 11, 1985, the City Commission authorized the City Manager, to initiate the acquisition of the thirty-one privately owned parcels (71 properties) in the S.E. Overtown/Park West Redevelopment area (Resolution No. 85-394). The City Manager was also authorized to enter into an agreement to purchase real estate in the area, pending final Commission ratification, for a price not to exceed the appraised value of the property to be acquired, along with bonus schedules for all closings that were expedited (Resolution No. 85- 396). In approving this resolution, the Commission also authorized appraised values for the parcel and allowed a fifteen percent contingency for increased land values and reappraisals. The original estimate included a lump sum fixture appraisal of $500,000 which has now been assigned to each parcel based on appraisals prepared by S.M. Dix. The City Commission has authorized the closing of 27 parcels of the 31 parcels to date. All of the settlements on these parcels have been at a value established through an M.I.A. appraisal review by a review appraiser and/or at negotiated value. 86-538',. The Honorable Mayor and Members of the City Commission Page 2 Parcel 25-I is a 15 unit apartment building located on Block 25 owned by Josephine Aldrich. On April 11, 1985, the City Commission authorized an offering price of $60,000. A re-evaluation was undertaken and based on current sales and the better than average condition of the building the valuation was increased to $90,000. In June of 1981 the City of Miami Rehabilitation Program loaned $62,700 to Mr. Edward F. Aldrich, now deceased to rehabilitate the building. The bonus of $18,000 is $11,000 higher than the amount authorized in Resolution No. 85-396. However, this supplemental amount will enable the Seller to pay off her indebtedness to the City in excess of $60,000 recover some of her equity in the property and pay attorney s fees for negotiating this settlement. Funding for this acquisition is from the City of Miami General Obligation Housing Bond Funds. 86--538. N.W. loth ST. N.W. loth ST. jqi 24 N.W. 9th ST. N.W. 9th ST. -Now .102 JL • VA AA C> I I Y--ly 3 4J to :3 PHASE I ACQUISITION STATU N.W. 8th ST. N • UNDER CONTRACT OR PURCHASED na UNDER CONSIDERATION N.W. 7th ST. of - OF ti IOHN E. GILCHRIST ► �y� CESAR H. 0010 Director _ City Manager p »n......Q 4�ECQFIOQ�O May 5, 1986 Alan S. Watkins " Koppen, Watkins; Partners & Associates _ Suite 605 Barnett Bank Building 7900 N.E.'Second Avenue Little River Miami, FL 33136 .. Dear .-Mr . Watkins In respect 'to the Agreement for Purchase and Sale .signed by your client Josephine Aldrich, Seller, please be'advised that the City Manager is now Cesar Odio and the City Clerk •is Matty Hirai. We are*making the appropriate changes to the contract."-.- Sincerely,' Betty B1 m ' . - �elocation Coordinator _• DEPARTMENT OF DEVELOPMENT/P.O.Box 330708/Miami, Florida 33233-0708/(305) 579-3366 8f -538:- AGREEMENT OF PURCHASE AND SALE PARCEL, h� 25-I THIS AGREEMENT entered into this 1 L_% day of (�� 19cs-L, by ind between THE CITY OF MIAMI, Dade County, Florida a Municipal �:arporation. hereinafter referred to as "CITY", and Josephine Aldrich :urrently residing7 located at 3575 Plaza Street, Coconut Grove Florida 33133 ieer rafter 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 trade a part hereof, and WHEREAS, the CITY desires to purchase said property for use 'in conjunction with the Southeast Overtown/Park West Redevelopment'Plan. .MW, THEREFORE, in consid,=ration .of -the sum 'of one hundred ($100.00) dollars and other ..'good *and valuable consideration, .*it :is hereby covenanted and agreed between the parties as'follows:•' 1. In consideration of the CITY paying the SELLER the sum of Jkq ty Jhousand Dollars (� 0 Q00.00 (and if this agreement is executed by all par- ties within 60 days of receipt, a bonus of an additional ' Eighteen ThousAnd Dollars �1s,000.00 ), the SELLER shall by General Warranty Deled convey' to the CITY good marketable and insurable title free o*f liens and encumbrances to that certain -real -property, together .with the improvements, hereditaments and appurtenances which are legally described on Exhibit ' B .attached hereto, acid made a. part hereof. 2. 5. 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. All taxes and assessments of record for the year i985 shall be prorated as of the date of closing and shall bepaid or: satisfied by the SELLER prior to closing...`. 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. 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. 6. -Title to the property shall be delivered -to -the CITY on the date of closing. IF the property is owner and/or tenant occu- pied, the CITY will issue to them a Notice of Assurance guaran- teeing a one hundred and twenty (120) day period of time within which to relocate from property, which period will begin 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, tests, soundings, and appraisals. A sum in the amount of Zero Dollars $ 0.00 shall be held in escrow by the CITY's Closing agent, and shall be released when the SELLER vacates and surrenders possession of the property to the CITY and upon the completion of the removal and clearance of all improvements not included in the purchase price. PAGE 1 OF 2 86-538:.0 ., r . w r s. .. . a i..._ -. ...— .. . .. r ...� • .... �..�. ..a �.S .. �. ... �... .....— w� . .t .''w .IK �' .— .' 1. 3 •., , ••mot. ..• .• •2•`� : � .. '• ,• PARC e " NO. 25-I The SELLER does further indemnify- the CITY against any claim made by any lessee of the aforesaid property who has not entered into a Settlement Agreement with the CITY, or. executed a Disclaimer. The SELLER agrees that Dade County may, at the 'request of they CITY, following the execution of this Agreement,' acquire -title to said land by condemnation or other judicial proceedings. The 'SELLER agrees to 'cooperate with and assist Dade County and the .....CITY in the prosecution of such proceedings. `• _'_ ' •:• E • . ;cor•,oration-ar-tnershi' .or .•trust ' " SELLER • . I £ ..the SELL R is a p ,• `p p- ,' . ' hereby *agrees to comply with Section 28G.23 Florida ''Statutes. by ' .-making a written Public Disclosure, under oath, of the names and ..-addresses of -every persons) having beneficial interests in the Real Property being conveyed to the ".CITY,, unless '.specifically .exempt by provisions of said Statue.'• If 'SELLER 'is .entitled 'receive .any additional payments under .the "Uniform Relocation Payment =-Act,' -it .'."is understood 'that -*this ':. '..•' Agreement does "not prohibit SELLER from '' exercising .his rights ' thereunder. • _ . .0. -.This Agreement shall be binding upon the heirs,'executors, admin- istrators and assigns of the parties. - 11. This Agreement shall be governed according to the laws '.of the State of Florida.'- L2. 'The SELLER understands that this .offer is subject to*the approval ..of the City Commission of the City of Miami# Florida. Dated the date first written"'above. SELLER: Witnesses: ;(two required) By Josephine Aldrich l� ti As to an indj� idual -or- As to an individual - .•. •. CITY OF MIAMI, a Municipal ' ATTEST: Corporation of the State of Florida MATTY; HZRAI . City C1"e ek .By City Manager APPROVED AS TO FORM AND CORRECTNESS: - i LUCIA A. DOUGHERTY City Attorney . BF-538_ w',•.�"� ��v.��:r•�':.'ri'_: .�:��: �".r :�w.�r •��•.:. •'�Y�r �'„`r'�"t' i•�^.:. �:R� •�I•^.^s.I�:'•�i�.'�-r•r �•�—. ..-^ i ...- _ CERTIFICATE OF VALUATION Upon request for valuation by the City of Miami for the Southeast Overtown/Park West Redevelopment Project,, :we -have made an. investigation and analysis of the following described property: Parcel No.: 25-14 Folio No.: '; 01-01025-06-14 - Legal -Description: Lot 14,* Block .25 N of ' P.B. 'B-.41 Dade County, Florida ' We hereby -certify that to the best of our knowledge and belief, except as otherwise noted in this report: 0 0 0 1 Neither Real Estate Research Corporation nor any of its officers -has any present or, contemplated Jnter6st, in.. the . property appraised;: The 'undeisigned :have both personally inspected .the property and surrounding market area; ; Facts and rationale stated in this report .are correct; This appraisal 'was prepared .in; accordance with and is. subject to the Rules of Professional Ethics of the American Institute of Real Estate Appraisers; The American Institute of Real Estate Appraisers conducts a voluntary program .of continuing •educatio.n for .its designated members. - MAIs and RMs-who meet', the' minimum standards of this • program • are • .awarded : -.periodic , educational .certification. The MAI . below is currently. certified ,under this program.through September 15, 1987; No one other than the -undersigned prepared the analyses and conclusions contained in this report. o Our opinion of the Market Value 'of .the property appraised at December 21,, 1984 is NINETY THOUSAND DOLLARS ($90,000) I rW.R . -66-538,- r which may be as-followst Land: $34,000 Improvements: $56,000 109�0000 Total: xithmitted Sincerely, REAL ESTATE RESEARCH CORPORATION 16- MA , �j Cliffor Koenig, Vice President Robert 0.' Bernitein Senior -Appraiser, CAK/ROB/gf