HomeMy WebLinkAboutR-85-1162J-85-1125
7/1/85
' RESOLUTION NO. 8�3
A RESOLU`CiON AUTHORIZING rHE CITY MANAGER TO
PURCHASE FOUR PARCELS OF LAND LOCATED WITHIN
THE SOUTHEAST OVERTOWN/PARK WEST REDEVELOP-
MENT AREA AT APPRAISED AND OR ASSESSED VALUES
WITH CLOSING BONUSES SET AT THE RA`ri�
PREVIOUSLY ESTABLISHED BY THE C[TY
COMMISSION; AND FURTHER AUTHORIZING THE CITY
ATTORNEY TO PROCEED TO CLOSE ON THESE PARCELS
AFTER EXAMINATION OF THE ABSTRACTS AND
CONFIRMATION OF OPINIONS OF TITLE AND
AUTHORIZING ADDITIONAL COMPENSATION FOR TWO
PARCELS PREVIOUSLY APPROVED FOR ACQUISITION
BY THE CITY COMMISSION.
WHEREAS, the City Commission by Resolution No. 82-755
approved in principle the Southeast Overtown/Park West Redevel-
opment 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
1
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 (Reso-
lution No. 85-394); 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
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 u to six percent on an amount over $50,000; and
P p Y CITY COm=SIQN
MEETING QF
Nov Ys �985
Qom,,.., .
a
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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 agreements with
land owners and has made formal offers to purchase the four
parcels which are identified and described in Table I attached
hereto and made a part hereof; and
WHEREAS, negotiated settlement price of the parcels 25-G is
11 percent higher than those approved by the City Commission
based on a reappraisal of those parcels and is within a 15%
contingency range reserved for such increases; and
WHEREAS, the negotiated settlement price on one of the
parcels (25-B) is 53% higher than that approved by the City
Commission based on a reappraisal of that parcel and is not
within a 15% contingency range reserved for such increases but is
within the overall contingency range available for Phase I
acquisition; and
WHEREAS, the negotiated settlement price on one of the
parcels (25-J) is 30% higher than that approved by the City
Commission based on the utilization of the 1984 tax assessment as
the value for the property pursuant to the land acquisition
i
policy established for the Overtown area by Dade County for
public acquisition; and
WHEREAS, the negotiated settlement price on one of the
parcels (44-D) is 5% higher than that approved by the City
Commission based on a reappraisal of that parcel and is within a
15% contingency range reserved for such increase; and
WHEREAS, the final settlement price is for two parcels
previously approved by the City Commission; Resolution 85-946 and
Resolution 85-757 is being increased to reflect revised
appraisals for land and fixtures and described in Table I
attached hereto and made part hereof; and
WHEREAS, the authorized settlement price (Resolution 85-946)
for one of the parcels (44-B) is being increased by $12,600 to
correct a miscalculation on the square footage of the property;
and
85-1162
WHEREAS, the authorized settlement price for one of the
parcels (37-C) is being increased by $5,072 based on a revised
valuation on fixtures purchased from Baron Displays; and
WHEREAS, proceeds from the sale of General obligation
Housing Bonds and a loan from the I.I.S. Department of Housing
Urban Development Section 108 Program is available for
acquisition; and
WHEREAS, the cost of these parcels to the City would not
exceed estimated overall costs approved for land acquisition for
Phase I based on appraised values, commensurate bonus schedules,
and contingencies previously approved by the City Commission
(Resolution Nos. 85-394 and 85-396);
WHEREAS, the amounts set forth in Table I are reasonable and
in keeping with the costs of acquiring property through the nor-
mal negotiation process; and
WHEREAS, if these were arm's length transactions and stan-
dard acquisitions, the City would also be responsible for paying
the seller's attorney's fees and associated costs;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
1
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
purchase the four properties and increase the purchase price of
two properties 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
k y
Abstract and confirmation of an Opinion of Title.
h T.
s�� f
85-11d2
PASSED AND ADOPTED this 26th day of NOVEMBER
. 1984.
4YH
CITY CLERK
PREPARED AND APPROVED BY:
ROBERT N. SECHEN
ASSISTANT CITY ATTORNEY
XAVIER SUAREZ, MAYOR
APPROV4ASAND CORRECTNESS:
TYLUCIA CITY ATTORNEY
es-1162
COST OF PARCELS -- S.E. OVERTOWN/PARK WEST PROJECT PHASE I
TABLE
I: DESCRIPTION, IDENTIFICATION,
AND
NEGOTIATED SETTLEMENT PRICE
—
PARCEL
_—
LAND
BUILDING
FIXTURES
SUB TOTAL
BONUS
TOTAL
OWNER(S) ADDRESS
-
NUMBER
- -- -
LEGAL DESCRIPTION
- _-------------------- -----
$75,000
$6,750
$81,750
---- —-------- ------
2,1
lots 21, and 12
$75,000
$0
$O
The Big
Block 25N,
150 SE 2 Avenue
Miami North (P.B. 9-41)
Suite 1012
Miami, FL 33131
0
178,000
11,060
189,060
25-B
Lots 5 and 6
�,5W
138,500
C#R IER RenbPr S.A.
Block 25N
West Drive
Miami North,(P.B. 6141)
mazhouse B
North Bay Village, FL 33141
0
0
28,000
1,740
29,740
and
Chapmn
25,000
Dame Dorsq
1790 Nd 59 Street
Miami, FL 33142
5,800
76,700
5,240
87,740
6,625
94,365
Ft Laudwble Inv. Inc.
25�J
Lots 15
Block 25N
4600 NW 7 Avenue
Miartri, FL 33127
Miarri North (P.B. B-41)
29,065
599,065
30,500
619,565
IWeHal Hotrels Inc.
44-D
Lots 6, 7, and 8
360,000
200,000
g c/o Roger Newlan
Block 44 N
Miami North (P.B. B-41)
19724 NE 24 Court
Miami, FL 33180
0
12,000
600
12'600
Renaln 6 Rachel Gallo
44-B
South 75 ft. of
12,000*
0
%' NE 29 Street
Lots 1 and 2) Block 44N
Miami North IP.B. B-41)
,mi, FL 33137
p
5.072*
5,072
0
5,072
37-C
East 1/2 of Lot 20 and Lot 21
p
Barra Diwlan
Biodk 37N
31 W 8th Street
Miami North (P.B.-41)
Miami, FL 33136
(tenant)
11/8/85
* - Increase in valuation
1, includes 1985 Real
Estate Taxes
to
ri
UZ
0
TO
FROM:
CITY OF MIAMI. FLORIOA
INTEROFFICE MEMORANDUM
Honorable Mayor and
Members of the City Commission
Sergio Pereira
City Manager
DATE: November 8, 1985 FILE:
S.E. Overtown/Park West
SUBJECT: Closing Procedures
On Parcel Purchases
City Commission Agenda
REFERENCES:
ENCLOSURES:
(1)
It is recommended that the City Commission
approve the attached resolution authorizing
the City Manager to purchase four parce s
of land -located whin Phase 1 oT tine
Southeast Overtown/Park Westa eve opmen
appraised values and or assessed -value I
closing onuses valued at the
established by the City Attorney
further authorizing the City Attorne
proceed to close on these parcels
authorizing additional compensation for
parcels previously approve
on.
y
ra to
and
to
ana
two
57
On April 11, 1985, the City Commission authorized the City Manag-
er to initiate the acquisition of the seventy-one (71) privately
owned parcels in the S.E. Overtown/Park West Redevelopment Area
(Resolution 85-394). The City Manager was also authorized to
enter into agreements 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
85-396). In approving these resolutions, the Commission also
f authorized appraised values for each 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.
Subsequently, as authorized, the City Manager initiated negotia-
tions with all 31 landowners in Phase I (71 parcels) "Agreements
of Purchase and Sale" have been obtained for 19 properties. On
June 20, 1985, the City Commission authorized the City Manager to
purchase and close on eight of these parcels (Resolution No. 85-
757), July 18, 1985 to close on five parcels (Resolution 85-757)
and September 5, 1985 to close on an additional two parcels
(Resolution No. 85-946). All of these properties have either
85-11+,
Sergio Perei ra
2
November 7, 1985
been closed or are in the process of closing. Agreements for the
purchase of four additional parcels have been negotiated.
Ratification of these four agreements is requested in order to
expedite the purchase of the properties.
Parcel 25-G
The negotiated settlement price for Parcel No. 25-G owned by
the Big Door Company is $75,000. The value of the property
has been revised based on a re-evaluation of the property by
the Real Estate Research Corporation for the City. On April
11, 1985 the City Commission authorized an offering price of
$67,500. Additional value to the property was given due to
its location on N.W. 2 Avenue. This represents an 11.1%
Increase in valuation. In addition, the City has agreed
(pending approval of the attached resolution) to pay the
1985 real estate taxes on the property which will not exceed
$500. Funding for the acquisition of this property is from
the City of Miami G.O. Housing Bond Funds.
Parcel 25-8
The negotiated settlement price for Parcel No. 25-B owned by
CAR -TER Renters S.A. is $206,000. Twenty eight thousand
dollars (28,000) of the sale price is allocated to Dana
Chapman, owner of the land. The property is encumbered by a
99 year lease held by CAR -TER Renters S.A. On April 11,
1985, the City Commission authorized an offering price of
$135,000. A re-evaluation of the property was undertaken by
the City and based on an analysis of income generated from
this property (33 rental units), the valuation was increased
to $206,000. S.Z. Bennett Appraisal Company prepared the
review of the appraisal for the City and has recommended a
valuation of $206,000. The property generates an income of
over $36,500 annually. This represents a 53% increase in
value. In addition, the City will reimburse the owners up
to $2,500 for the cost of two appraisals which they had
prepared in response to our initial offer to purchase.
Funding for this acquisition is from City of Miami G.O.
Housing Bonds Funds.
Parcel 25-J
The negotiated settlement price for Parcel No. 25-J is
$82,500. The recommended purchase price has been revised
from $63,500, a 30 % increase. The 1984 assessed value of
the property is $82,500 and it has been a policy of Dade
County since 1980 not to pay less than the value established
by the Dade County Tax Assessor for property in Overtown.
Since this is a joint City/County project it is recommended
that this policy be utilized by the City within
85°-1162
0
Sergio Pereira
the Overtown
utilized as a
this property
Bond Funds.
3
November 7, 1985
Area. This property is currently being
rooming house. Funding for the acquisition of
will be from the City of Miami G.O. Housing
Parcel 44-D
The nego sated sale price for Parcel No. 44-D is $560,000.
The value of the property has been revised based on a re-
evaluation of the property by Real Estate Research
Corporation for the City. On April 11, 1985, the City
Commission authorized an offering price of $535,000. This
$25,000 increase in value presents a 5% increase and is
based on additional values placed on the hotel structure
(150 rooms). Funding for this acquisition will be from the
Section 108 Loan.
Modifications to previously approved settlements is recommended
for the following two parcels. '
Parcel 44-B
On September 12, 1985, City Commission Resolution No. 85-946
authorized the purchase of parcel 44-B. Valuation of this
vacant parcel was based on a land area of 6,750 square feet.
Upon subsequent review it was determined that the actual
size of the parcel was 7,500 square feet. Based on a land
value of $16.00 a square foot, the value of the property has
increased by $12,000. An additional $600 bonus for
settlement, in lieu of condemnation, is also recommended.
Closing of this property has been held in abeyance until the
additional allocation is authorized.
Parcel 37-C
On June 20, 1985 (Resolution No. 85-664) the City Commission
authorized the purchase of parcel 37-C. On September 13,
1985 the City closed on the property. It was determined at
time of closing that an additional $5,072 compensation was
due one of the tenants, Baron Displays, based on a revised
fixture appraisal prepared by S.M. Dix Associates for the
City of Miami. It is requested that the City Manager be
authorized to provide this additional compensation to Baron
Displays.
It is recommended that the Commission
of parcels 25-G, 25-B, 25-J, 44-D and
previously authorized purchase price
C. While the final settlement price
exceeds the 15% contingency included
acquisition budget approved on April
falls within the overall acquisition
authorize the purchase
modifications to the
to parcels 44-B and 37-
of these parcels
in the overall
11, 1985, it still
SS -11OP2
Sergio Pereira 4 November 7, 1985
;f
budget due to previously completed land purchases below
anticipated costs.
Funding for this acquisition is from the City of Miami 1976
General Obligation Housing Bonds Funds and a Section 108
Loan from the U.S. Department of Housing and Urban
Development.
8�°-1162
TABLE
1: DESCRIPTION. IDENTIFICATION.
AND COST OF PARCELS -- S.E. OVERTOMPARK WEST PROJECT PHASE I
NEGOTIATED SETTLEMENT_ PRICE
_ _ __--------
NUMBER
LEGAL DESCRIPTION
LAND
BUILDING
FIXTURES
SUB TOTAL
— BONUS
-
TOTAL
OWNERS) / AOORESS
- -- —
__
so
I75,OOD
$6.750 B
SB1.150
25 G
lots li and u
Black Am.
s75.ODD
s0
2 Awee*�
19D 9DS 1012
Miami North (P.B. 8.41)
Mlsuite awl, FL 33131
39.500
138,500
0
178,000
11.060
189, Ofip
CAR -TER Renter S.A.
25-B
Lots 5 and 6
7933 West Drive
Mani North (P.B. 6 41)
Penthouse 8
Nwth Brj Village. FL 33141
and
28,OOD
p
0
28,000
1,740
29,740
�\
�►�Ni Strret
S9
Mani, FL 3i142
5.800
7fi.700
5.240
87,740
6.625
94,365
de Ft latile Im. Ink:.
25J
Black 291
4600 N( 7 Avenue
Mied, FL 33M
Miami Math (P.B. B-41)
29,065
589,065
30,500
619,565
Imperial Howls 1w-
U M
cfa1972.4
44-0
Lots 6 7, and 8
Block 4N
Wad North (P.B. B 41)
360.O00
2(ID,030
F
Ned,R. 31180
44.8
South 75 ft. Of
12,OODN
0
0
12,07D
Epp
12,600
Reldm a Redo Gallo
29 Street
MB1)
aM North 1PB 8-4)
Miami. FL 33137
37-C
East 1/2 of Lot 2D aid Lot n
O
0
5.O72'
S.pTT
0
5.OT2
1— D120*5
31 NI Bth WWI:
Blac
Mind North IP.8.41)
MI(a) 33136
11/B/a5
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1. Includes 1985 Real Estate Taxes
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UNDER CONSIDERATION
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Parcel No. 25-B
ss -1162
0
S. Z. BENNETT APPRAISAL COMPANY
REAL ESTATE CONSULTANTS AND APPRAISERS
14 N. E. FIRST AVENUE. SUITS 1407
MIAMI, FLORIDA 33132
TELEPHONE 1$061 371.1639
IJUL 2 5 M5
S. Z. BENNETT
Manta
AMtQICAN INtTITUTC OM At.AL ttTATt APPIIA18tAt
AWA/CAN •OCIV" O/ AtAL tlTATt COUNSCLOAt
•OCIC" O► AtAL ttTATt A•IMAIttRO
AMtAICAN tOCItTY OI A►IRAIltA•
INITTTllFS OF AtAL RGTAT% MANAOtMtNT
WCItTY OM INOUSTAIAL ACAI."At
REALTOR
July 19th
1 9 8 5
MEMORANDUM
TO: Matthew Schwartz
Assistant Director For Development
FROM: S. Z. Bennett
SUBJECT: CITY OF MIAMI SOUTHEAST OVERTOWN/PARK WEST
PARCEL NO. 25B
OWNER: CAR -TER RENTERS S. A.
I have reviewed the Appraisal Report of the above captioned
parcel prepared by RERC, dated December 21, 1984.
On July 9, 1985 a conference was held with the owners, their
representatives, Betty Blum and yourself. At that time there was
a thorough discussion between the undersigned and the owners on
the principles of valuation and how they relate to the subject
property. The owners' position of valuation was approximately
$284,000.00.
The undersigned recognizes the ownership as skilled operators
i
and excellent managers of this type of property.
.The undersigned reviewed the rentals being secured by the
present operators and, after some discussion with Ms. Blum and
yourself, you verified that these rentals were market and being
recommended by the relocation office for relocatees.
Pursuant to my assignment, I have prepared my own Income And
Expense Statement, a copy of which is attached. I have also
utilized the 17% as the overall rate used by RERC, but. computed
my net operating income for a 20-year period rather than into
perpetuity.
7
0
Matthew Schwartz
(PARCEL No. 25B)
July 19, 1985
Page 2
Based on the review of the net operating income it is the
undersigned's opinion that the estimated market value for the
subject property was approximately $205,650.00, as of current
date.
As you know, a meeting was held in my office on Wednesday,
July 17th, at which time my valuation was fully discussed. It is
my opinion that the market value as arrived at by the undersigned
would be fair to the property owner and to the City of Miami.
File #2955
I-, W
S. 2. BENNETT APPRAISAL COMPANY -KCAL ESTATE CONSULTANTS AND APPRAISERS
SS -1162
1
STABILIZED INCOME AND EXPENSE STATEMENT
(BASED ON PRESENT OWNERSHIP AND MANAGEMENT)
INCOME
4 Efficiencies @
$170 monthly
- $ 8,160
27 One bedroom/One bath @
$190 monthly
- $61,560
2 Two bedrooms/One bath @
$200 monthly
- $ 4,800
Miscellaneous Income
- $ 960
TOTAL POTENTIAL GROSS INCOME
- $75,480
VACANCY AND RENT LOSS - 10%
- 7,548
EFFECTIVE GROSS INCOME
- $67,932
OPERATING EXPENSES
Real Estate Taxes
$ 2,700
Insurance
2,000
Maintenance and Repairs
13,300
Reserves for Replacement
1,400
Utilities and Trash Collection
2,200
,janitor and Exterminator
1,500
Miscellaneous -Accounting and
Legal, etc.
1,500
Management
6,790
TOTAL OPERATING EXPENSES
- $31,390
NET OPERATING INCOME
- $36,542
20-YEAR PERIOD - 17% Rate, Factor 5.627767
=
$205,650
a
S Z SENNETT APPRAISAL COMPANY -REAL ESTATE CONSULTANTS ANO APPRAISERS
8v-1162
0
0
AGREEMENT OF PURCHASE AND SALE PARCEL NO. 25-6
THIS AGREEMENT entered into this day of 19 by
and between THE CITY OF MIAMI, Dade County, Florida a Municipal
Corporation, hereinafter referred to as "CITY", and
CAR -TER RENTERS S.A. ,
currently residing located at 7933 West Drive, Penthouse B
North Bay Village, Florida 33141
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.
NOW, THEREFORE, in consideration 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 TWO HUNDRED
AND SIX THOUSAND DOLLARS ---------------------------------------------
($206,000.00 ) (and if this agreement is executed by all par-
ties within 60 days of receipt, a bonus of an additional TWELVE
THOUSAND EIGHT HUNDRED DOLLARS -------------------------------------
($12,800.00 )), 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 B 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.
3. All taxes and assessments of record for the year 1985 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.
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
------------------------------------------------- 0---------- )
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
S 1lid2
PARCEL NO. 25-B
7. 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 the
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.
B. If the SELLER is a corporation, partnership or trust, SELLER
hereby agrees to comply with Section 2B6.23 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 Statue.
9. 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.
10. 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.
12. 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: _ZA1;F-DER R' UTERS S.A.
Witnesses: (two required) By
d� ✓.T04;c A.
CORPORATE SEAL
As to an individyial -ors-
Corporate Secretary
` C C
C -
J
As tp• an individual
ATTEST:
RALP1' G. ONGIE
City Clerk
MrA
CITY OF MIAMI, a Municipal
Corporation of the State of Florida
By
SERGIO PEREIRA
City Manager
APPROVED AS TO
FORM AND CORRECTNESS:
LUCIA A. DOUGHERTY
City Attorney
SS —1 ib2
14
A
EXHIBIT A
CITY OF MIAMI
SOUTHEAST UVERTOWN/PARK WEST
REDEVELOPMENT PROJECT
PARCEL NO, 25-g
STATEMENT_ OF JUST -COMPENSATION
1. PROPERTY DESCRIPTION:
Lots 5 and 6
Block 25N, Miami North
(P.B. B-41)
2. OWNERS OF RECORDS: CAR -TER Renters, S.A.
3. FEE SIMPLE: $206,000.00
4. BASIS OF JUST COMPENSATION:
The City's offer represents the full amount of .lust Compen-
sation 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 the lowest of
two independent appraisals made by competent professional
appraisers. The subject property has been inspected by the
City and also by the two independent appraisers.
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 disre-
garded in determining the compensation for the property by
the City and its appraisers.
The City of Miami's appraisals and determination of just com-
pensation do not reflect any consideration of, or any allow-
ance for, any relocation assistance and payments which the
occupants, the owner or tenants, are entitled to receive
under Title II of the Uniform Relocation Assistance and Real
Property Acquisition Policies Act of 1970.
The following items are specifically included in the afore-
mentioned approved appraisal and the co� s d'eration for the
listed item,; is included in the Just Compensation (see the
attached list).
5. ALLOCATION OF VALUATION:
The following represents a summary of the City's offer to you
and the basis thereof.
REAL ESTATE:
LI.Nl3
IMPROVEMENTS
FIXTURES
$ 67,500.00
$138,500.00
$ -0-
8Sk--11G2
A
CERTIFICATE OF VALUATION Parcel No. 25-B
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.: 25-06
Folio No.: 01-01025-01-06
Legal Description: Lots 5 6 6, 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%
o Neither Real Estate Research Corporation nor any of its
officers has any present or contemplated interest in the
property appraised;
o The undersigned have both personally inspected the property
and surrounding market area;
o Facts and rationale stated in this report are correct;
o This appraisal was prepared in accordance with and is
subject to the Rules of Professional Ethics of the American
Institute of Real Estate Appraisers;
o The American Institute of Real Estate Appraisers conducts a
voluntary program of continuing education for its designated
members. MAIs and RMs who meet the minimum standards of
this program are awarded periodic educational
certification. The MAX below is currently certified under
this program through September 15, 1987;
o 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 as
of December 21, 1984 is
ONE HUNDRED THIRTY-FIVE THOUSAND DOLLARS
)
which may be allocated as follows:
Land: s 67,500
Improvements: S 67,500
Total:
See oVa 1r&'e
$135,000
Respectfully submitted,
REAL ESTATE RESEARCH CORPORATION
Cliffor A. Koenig, MAI
Vice President
Robert 0, Bernstein
Senior Appraiser
8� #1 lid2
PO NL
AGREEMENT OF PURCHASE AND SALE
PARCEL NO. 25-B
THIS AGREEMENT entered into this day of ,
1985 by and between the City of Miami, Dade County, rlorida, a
municipal corporation, hereinafter referred to as "CITY" and Dana
Chapman, individually, currently located at 1790 Northwest 59th
Street, Miami, Florida 33142, hereinafter referred to as
"SELLER."
W I T N E S S E T H:
WHEREAS, the SELLER is owner and lessor of that real
property more fully described on Exhibit "A", attached hereto and
made a part hereof (the "Property").
WHEREAS, the CITY desires to purchase the Property for use
in conjunction with the Southeast Overtown/Park West
Redevelopment Plan.
NOW, THEREFORE, in consideration of the sum of One Hundred
Dollars ($100.00) and other good and valuable consideration, it
is hereby covenanted and agreed between the partners as follows:
1. In consideration of the CITY paying the SELLER the sum
of Twenty Eight Thousand Dollars ($28,000) as the value of the
land (and if this agreement is executed by all parties within 60
days of receipt, a bonus of an additional One Thousand Seven
Hundred and Forty Dollars ($1,740)), and subject to the
provisions set forth, the SELLER shall by General Warranty Deed
convey to the CITY good marketable and insurable title to her
reversionary interest free of liens and encumbrances to the
Property, together with the improvements, hereditaments and
appurtenances which are legally described on Exhibit "B" attached
hereto, and made a part hereof.
2. The CITY shall pay to McCrary, Valentine and Mays as
attorneys for the SELLER the sum set forth in Paragraph 1 hereof,
by CITY Warrant at the closing which shall occur within 30 days
from the date of the approval of. this Agreement by the City
Commission of the CITY.
3. All taxes and assessments of record for the year 1985
shall be prorated as of the date of closing.
4. All certified liens, encumbrances and charges of record
against the Property shall be paid or satisfied by the SELLER
prior to closing. Pending City and County liens shall be assumed
by the CITY.
S. 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 by agreement between
the parties.
6. Title to the Property shall be delivered to the CITY on
the date of closing. SELLER may retain possession of the
Property until closing. 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
r studies, surveys, tests, soundings, and appraisals.
7. The SELLER hereby agrees that the sum of. $ 0.00 of
the valuation (included within Paragraph 1 is allocated for
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A
immovable fixtures. SELLER agrees to indemnify the CITY from all
claims made or imposed by any lessee, creditor, third party
lessor, equipment financier, or others who may claim an interest
in the immovable fixtures.
S. 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 the CITY following the execution of this Agreement,
acquire title to said land by condemnation or other judicial
proceedings in which event the SELLER agrees to cooperate with
CITY in the prosecution of such proceedings.
9. The payment provided by Paragraph 1 is in lieu of any
payments which the SELLER is entitled to receive under the
Uniform kelocation Payment Act.
10." This Agreement shall be binding upon the heirs,
executors, administrators and assigns of the parties.
l l.' 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.,
Dated the date first written above.
1
MATTY HIRAI
City Clerk
CITY OF MIAMI, a Municipal
Corporation of the State of
Florida
By:
SERGIO PEREIRA
City Manager
SELLER:
By
APPROVED AS TO FORM AND CORRECTNESS:
By:
LUCIA A. DOUGHERTY
City Attorney
RNS/wpc/pb/ab/B163
- 2-
Dana
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Chapman,
ally
Su —1162
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AGREEMENT OF PURCHASE AND SALE PARCEL NO. 25-G
THIS AGREEMENT entered into this day of 19 by
and between THE CITY OF MIAMI, Dade County, Florida a Municipal
• Corporation, hereinafter referred to as "CITY", and
Big Door Company ►
currently residing located at mho gePubl i c Nat-innal Rank Rini lding.,
150 S E 2nd Avenue, Suite 1012. Miami. FL. 33131
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.
NOW, THEREFORE, in consideration of the sum of one hundred
($100.00) dollars and other good and valuable consideration, it is
hereby covenanted and agreed between the parties as follows:
yEiY IY J
1. In consideration of the CITY paying the SELLER the sum of
PvAS.e Thousand - Dollars-----------------------��--
($�-90 ��!t7• and if this agreement is executed by all par-
ties within 60 days of recei bonus of an additional �1aeSZk1
-rt•�
Thousand Hundred .R��TaDollars
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 B 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.
3. All taxes and assessments of record for the year 1985 shall be
d1}
�•• CFi i FR eri Ar t., ••]�•,c; •� ,�jydn/ro �Oy %//E PG�ttyAS'tSC C11,
Y,� /
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.
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.
y
'kk�11
PAGE l OF 2
Spy-liG2
A
A
PARCEL NO. 25-G
7. 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 the
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.
8. 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 Statue.
9. 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.
10. 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.
12. 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:` BIG DOOR CQMPANY
Witnesses: (two required) "By \ C� ��1 ✓� 1
�
As to an individual -or-
Corporate Secretary
tO',i ividual
ATTEST:
RALPH G. ONGIE
City Clerk
CORP`O�tATE SEAL
CITY OF MIAMI, a Municipal
Corporation of the State of Florida
By
SERGIO PEREIRA
City Manager
APPROVED AS TO
FORM AND CORRECTNESS:
LUCIA A. DOUGHERTY
City Attorney
Vie;
04 0
EXHIBIT A PARCEL, N0. 25-G
CITY OF MIAMI
SOUTHEAST OVERTOWN/PARK WEST
REDEVELOPMENT PROJECT
STATEMENT_ OF JUST_ COMPENSATION
1. PROPERTY DESCRIPTION:
2. OWNERS OF RECORDS:
3. FEE SIMPLE:
4. BASIS OF JUST COMPENSATION:
Lots 11 and 12, Block 25N
Miami North
(P.B. B-41)
Big Door Company
$67,500.00
The City's offer represents the full amount of Just Compen-
sation 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 disre-
garded in determining the compensation for the property by
the City and its appraiser.
The City of Miami's appraisal and determination of just com-
pensation do not reflect any consideration of, or any allow-
ance for, any relocation assistance and payments which the
occupants, the owner or tenants,, are entitled to receive
under Title II of the Uniform Relocation Assistance and Real
Property Acquisition Policies Act of 1970.
The following items are specifically included in the afore-
mentioned approved appraisal and the consideration for the
listed items is included in the Just Compensation (see the
attached list).
5. ALLOCATION OF VALUATION:
The following represents a summary of the City's offer to you
and the basis thereof.
REAL ESTATE s
LAND "-i; -0.00 �-
IMPROVEMENTS $
w
FIXTURES $
i+
TOTAL JUST COMPENSATION
'
7S 000.
It
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.: 25-11, 12
Folio No.: 01-01025-01-11, 12
Legal Description: Lots 11 and 12 (Pt.) Block 25N 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:
o
Neither Real Estate Research Corporation nor any of its
officers has any present or contemplated interest in the
i
property appraised;
o
The undersigned has personally inspected the property and
I
surrounding market area;
f
o
M
Facts and rationale stated in this report are correct;
o
This appraigal was prepared in accordance with and is subject
to the Rules of Professional Ethics of the American Institute
of Real Estate Appraisers;
o
The American Institute of Real Estate Appraisers conducts a
voluntary program of continuing education 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;
o
The undersigned acknowledges the assistance of Stuart
Beilinson in the property inspection, data research, and
preparation of this report.
o
Our opinion of the Market Value of the property appraised as
of November 8, 1985 is:
SEVENTY-FIVE THOUSAND DOLLARS
75,000
Respectfully submitted,
REAL ESTATE RESEARCH CORPORATION
Clifford A. Koenig, MAI
Vice President
Parcel No. 25-J
F
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T%GREEMENT OF PURCHASE: AND SALE PARCM NO. 2i-J
T11IS AGREEMENT entered into this 6th day of Mqv2ab_e1 _ 1985 by
'
and between JtE CITY OF MIAMI, Dade County, Florida a municipal
Corporation, hereinafter referred to as "CITY", and
Ft. Lauderdale inysstnrit Inc. _
currently r.2siding located at 4600 t1.14. 7th Avenue, tliami, 1'lorida
33127
hereinafter referred to as "SELLER'.
W I T N E S S E T N:
th(.! SELLER is owner of that real property more full.•
describedi o,i Exhibit "A" attached hereto and made a i;art hereof, and
WHEREAS, the CITY desires to purchase said property for use in
conjunction with the Southeast Overtown/Park West Redevelopment Plan.
NOW, THEREFORE, in consideration of the sum of one hundred
($100.00) dollars and other good and valuable consideration, it is
hereby covenanted and agreed between the parties as follows:
1. In consideration of the CITY paying the SELLER the sum of
EIGM TWO 331OUSAM JIVE RIUNDRED DOLLARS
($ 82J00`00 and if this agreement is executed by all par-
ties within 60 days of receipt, a bonus of an additional _
SIX THOUSAND SIX HUNDRED TWENTY FIVE DOLLARS
($ 6,625.00_ ) ), 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
1e:94lly described on Exhibit B attached hereto, and made a part
hereof.
2. The CITY shall pay the SELLER the sum set forth in Paragraph (1)
hereof, minus any suns 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.
3. All taxes and assessments of record for the year 1985 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, them 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.
Ht
A sum in the amount of Six Thousand Three Hundred Fifty Dollars
$ 6,350.00
shall be held -in—escrow by the CITY'a Closin 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
x..
clearance of all improvements not included in the purchase price.
m,:
PAGE l OF 2 r.:... •y��
7. Tite sloes further indemnify the CITY agaitr;;t any �:iuim made
Ly A:iy luriL;uu, of Lhe aforesaid prop -2rty who hits 1:0'. ontered inLa
a :;uLtIviiii.-r►t Ayruetrient with the CITY, or csx1:cutcd a Dis(_laimer.
:'he_' SELLER agree3 that Dade County may,
�►t Lltc� re+guest ��f the
::ITS', fallowing the execution of this Agreerit!rrt, acquits: title
to said land by condemni-ition or other judicial. proc:ee-,�iings. The
SEI,Lf•;ic agrees to cooperate with and aGsist Dade County an(I the
.:1 : t' itt t ht! prosecution of such proceedings.
U. 1f thy.: SELLER is a corporation, partnership or trust, SELLFR
hervby agrees to comply with Section 286.23 Florida Statates by
rr.akirig a written Public Disclosure, under o:it.h, of the nJr;o; and
ad,3ressus of every person(s) having benefic.nl in tite
keal hro arty being conveyed to the CITY, unleas specifically
ex.-impt by provisions o!: said Statuo.
9. If SELLER is entitled receive any ,additional payments under the
Uniform Relocation Payment Act, it is understood that this
Agreement: does not prohibit SELLI:h from exercising his rights
thereunder.
10. T'his Agreement shall be: binding upon the heir., executors, admin-
istrators and assigns of the parties.
11. This Agreement stall 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.
Dated the date first written above.
FT. LAUDERDALE
SELLER: INVESTORS, INC.
,sit resse wys ) B 1
Y
,cl Si DEmR
i
CORPORATE SEAL
is=wt=a;ft -or-
Corporate Secr
Amp s=mr
ATTEST:
RALPH G. Ot;v"IE
City Clerk
CITY OF MIAMI, a Murti.cipal
Corporation of the st.ate Of Florida
By _
SERGIO PEREIRA -�—
City Manager
APPROVED AS TO
FORM A140 CORRECT14ESS :
LUCIA A. UOUGIiE:1tTY - `-
City Attorney
g4'1162
sk
nn
July 24, 1985
Sonny Wright
President
Fort Lauderdale Investors, Inc.
4600 N.W. 7th Avenue
Miami, FL 33127
Dear Mr. Wright:
Parcel No. 25-J
Based on our conversation of July 16, 1985, we have reviewed the offer
to purchase sent to you on May 24, 1985, for Lot 15, Block 25N, Miami
North (P.B. B-41).
Staff would recommend to the Niami City Commission the acceptance of an
offer to sell from you for the 1984 Dade County Tax Assessment of the
property which is $82,500, and an additional bonus of $6,625 if a
settlement is made in lieu of condemnation.
If this offer is acceptable to you, please modify the initial Agree-
ment of Purchase and Sale to reflect these new values. All changes
on the contract must be initialed.
If you have any question concerning this matter, please contact our
office.
Sincerely,
Matthew Schwartz
Director
cc: Toby Brigham, Esq.
SERGIO PEREIRA
City Manager
x::..
OVERTOWN f PARK WEST PROTECT P.O. Box 330708 • Miami, Florida 33233-0708 (305► 579-3366
F? shall gave the right to commence coi-LecL-Lull vi. «••� • ��•• -•••s
Sv�iib2
'T
Parcel 44-B
SSA-1162
XE
ft�
11
October 23, 1985
Mr. & Mrs. Renato Gallo
483 NE 29th Street
Miami, FL 33137
RE: Parcel 44-B
Dear Mr. & Mrs. Gallo:
SERGIO PEREIRA
City Manager
Attached is an executed contract for the purchase of property
located in the Southeast Overtown/Park West Project Area (Parcel
44-B).
Based on our review of the appraisal it has been determined that
you are the owner of an additional 750 square feet of property
which we value at $12,000. We will recommend to the City
Commission additional Compensation of $12,600 for the purchase of
your property. This additional compensation will be provided at
time of closing pending City commission approval. This will be
scheduled for City Commission action on November 14, 1985.
Sincerely,
—7
atthew Schwartz
Director
ad r
attachments
cc: Morris Rosenberg
OVERTOWN / PAr J PROJECT 6 P.O. Box 330708 • Miami, Florida 33233-0708 • (305) 579-3366
8"S-1162
Parcel No. 44-D
S Ci "110iG�
F' O -
Parcel No. 44-0
8v "11602
AGREEMENT OF PURCHASE AND SALE PARCEL NO. 44-D
THIS AGREEMENT entered into this day of 19 by
and between THE CITY OF MIAMI, Dade County, Florida a Municipal
Corporation, hereinafter referred to as "CITY", .and
Imperial Hotels, Inc. ,
currently residing located at c/o Roger Newrman
hereinafter referred to as "SELLER' • 19724 N E24th ftMiami, Florida 33180
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.
NOW, THEREFORE, in consideration of the sum of one hundred
($100.00) dollars and other good and valuable consideration, it is
hereby covenanted and agreed between the parties as follows:
1. In consideration of the CITY paying the SELLER the sum of FIVE
HUNDRED EIGTHY NINE THOUSAND SIXTY FIVE DOLLARS
($ !)dV,UbS.UU ) (and if this agreement is executed by all par-
ties within 60 days of receipt, a bonus of an additional THIRTY
THOUSAND FIVE HUNDRED DOLLARS
$ Ju,buuxu )T, 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 B 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.
3. All taxes and assessments of record for the year 1985 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.
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 9 p premises to
be conveyed for making studies, surveys, tests, soundings, and
!,
appraisals.
A sum in the amount of FIFTY SIX THOUSAND DOLLARS
S 56,000.00
<.
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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
�i
clearance of all improvements not included in the purchase price.
g r
PAGE 1 OF 2 8S�-110
,A.
EXHIBIT A PARCEL NO. 44-D
CITY OF MIAMI
SOUTHEAST OVERTOWN/PARK WEST
REDEVELOPMENT PROJECT
STATEMENT OF JUST COMPENSATION
1. PROPERTY DESCRIPTION: Lots 6, 7, and 8
Block 44N, Miami North
(P.B. B-41)
2. OWNERS OF RECORDS: Imperial Hotels, Inc.
3 . FEE SIMPLE: 560 ,000.00
4. BASIS OF JUST COMPENSATION:
The City's offer represents the full amount of Just Compen—
sation 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 disre-
garded in determining the compensation for the property by
the City and its appraiser.
The City of Miami's appraisal and determination of just com-
pensation do not reflect any consideration of, or any allow-
ance for, any relocation assistance and payments which the
occupants, the owner or tenants, are entitled to receive
under Title II of the Uniform Relocation Assistance and Real
Property Acquisition Policies Act of 1970.
'y.
The following items are specifically included in the afore-
mentioned approved appraisal and the consideration for the
listed items is included in the Just Compensation (see the
attached list).
5. ALLOCATION OF VALUATION:
4-
The following represents a summary of the City's offer to you
and the basis thereof.
f�
'.
REAL ESTATEt
V11
_
LAND $ 360 ,000.00'
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k
IMPROVEMENTS $ 200,000.00
_ z
4r�
FIXTURES $ 29,065.00
t'
TOTAL JUST COMPENSATION $ 589 �065.00
k
W
ON
PARCEL NO. 44-0
7. 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 the
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.
S. 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 Statue.
9. 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.
10. This Agreement shall be binding upon the heirs, executers, admin-
istrators 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.
Dated the date first written above.
-� Witnes7164_
ses: (t r uired)
s t-0--an_'individual -or-
Corporate Secrets y
As to an individual
ATTEST:
SELLER:
By
CORPORATE SEAL
CITY OF MIAMI, a Municipal
Corporation of the State of Florida
By
RALPH G. ONGIE SERGIO PEREIRA
City Clerk City Manager
APPROVED AS TO
FORM AND CORRECTNESS:
LUCIA A. DOUGHERTY
City Attorney
PARCEL NO. 44-D
7. 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 the
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.
8. 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 Statue.
9. 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.
10. 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.
12. 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.
Witnesses: (t r wired)
As --to -an_'.individual -or-
Corporate Secretary
As to an individual
ATTEST:
RALPH G. ONGIE
City Clerk
SELLER:
By
CORPORATE SEAL
CITY OF MIAMI, a Municipal
Corporation of the State of Florida
By
SERGIO PEREIRA
City Manager
APPROVED AS TO
FORM AND CORRECTNESS:
LUCIA A. DOUGHERTY
City Attorney
8u' IIL0"u .
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.: 44-05, 06,
Folio No.: 1-01044-01-15, 16
Legal Description: Lots 6, 7 & 8, Block 44, Miami North
(P.B. B-41)
I hereby certify that to the best of my knowledge and belief, —
f except as otherwise noted in this report:
o Neither Real Estate Research Corporation nor any of its
officers has any present or contemplated interest in the
property appraised;
o The undersigned has personally inspected the property and
surrounding market area;
o Facts and rationale stated in this report are correct;
i
o This appraisal was prepared in accordance with and is
subject to the Rules of Professional Ethics of the American
Institute of Real Estate Appraisers;
o The American Institute of Real Estate Appraisers conducts a
voluntary program of continuing education 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;
o The undersigned acknowledges the assistance of Stuart
Beilinson in the property inspection, data research, and
preparation of this report.
o My opinion of the current Market Value of the property
appraised at November 81 1985 is:
FIVE HUNDRED SIXTY THOUSAND DOLLARS
Respectfully submitted,
REAL ESTATE RESEARCH CORPORATION
Clifford A. Koenig, MAI
Vice President
X;
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Parcel No. 37-C
,OCT 7W5 simidmix
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tiilurnet"ing & (4.arletiing C OILS ltnigs
PO. BOX 6488 . GRAND RAPIDS. MICHIGAN 49506 • AREA CODE 616-454-8261
Geptember 30, 1985
Mrs. Betty Blum
Overtown/Park West Project 1985
Post Office Box 330708
Miami, Florida 33233-0708
Appraisal of Baron Displays
Dear Mrs. Blum:
We have reviewed the fixture appraisal on Baron Displays and in
particular Items #1, 2 and 17, with the following conclusions based on
the additional information furnished us:
New
Value
Installed
Deprec,
In Place
#1 Recepticn desk/counter, built
in place, wood panel face,
laminated plastic counter and
desk top, O.A.S. 11 ln.ft. of
counter x 44"h. Desk w/built
in typewriter well, approx.
6 In.ft. x 30" x 30"
$3,000
$600
$2,400
#2 Mirror wall, approx. 140 sq.ft.:
89" x 98", approximately
91" x 98", approximately
129" x 15"1, approximately
1,540
308
1,232
#17 Carpeting, all office spaces,
approximately 100 sq.yds.
Arm
360
_ 1,440
Total Revised Values
$6 L340
$1,268
$5_072
64
i
Mrs. Blum
Page Two
September 30, 1985
4
4
These changes increase cur Total Value in Place by $1,933, with a
revised total Value in Place of $18,260.
We trust this answers your questions regarding the appraisal.
Sincerely yours,
' awes S. Banta
eb
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