Loading...
HomeMy WebLinkAboutR-85-0664J-85— 642 6/13/85 RESOLUTION NO. 85-6611. A RESOLUTION AUTHORIZING THE CITY MANAGER TO PURCHASE EIGHT PARCELS OF LAND LOCATED WITHIN THE SOUTHEAST OVERTOWN/PARK WEST REDEVELOP— MENT AREA AT APPRAISED VALUES WITH CLOSING BONUSES SET AT THE RATE PREVIOUSLY ESTAB— LISHED BY THE CITY 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. 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 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 CITY COMMISSION MEETING OF J U N 20 1985 HES0LU11Ur4 no.85-6 REMARKS..___ • a 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 agreements with five land owners and has made formal offers to purchase eight parcels which are identified and described in Table I attached hereto and made a part hereof; and WHEREAS, negotiated settlement prices on five of the par- cels (24-E, 24-F, 37-A, 37-C, and 37-D) are higher than those approved by the City Commission based on a reappraisal of those parcels but are within a 15% contingency range reserved for such increases; and WHEREAS, proceeds from the sale of General Obligation Hous- e ing Bonds are available for acquisition; and WHEREAS, the cost of these parcels 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); F 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 be responsible for also paying the seller's attorney's fees and other costs; sec 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. -2- 85-664 . . Section 2. The City Manager is hereby authorized to purchase the eight 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 Abstract and confirmation of an Opinion of Title. PASSED AND ADOPTED this 20th day of June • 1985- ATTEST: C Maurice A Ferre f6ZRAA---HCG. ONGIE MAURICE A. FERRE, MAYOR Y LERK PREPAR AND APPROVED BY: ROBERT N. SECHEN ASSISTANT CITY ATTORNEY -3- LUCIA A. DOYGHERTY CITY AT'111ORNEY 85-664.. ,..,.- y, I OF �, ` .._ .; � r 1. - �......:+....•., on Ut Q) rP TABLE I: DESCRIPTION, IDENTIFICATION, AND COST OF PARCELS -- S.E. OVERTOWN/PARK WEST PROJECT PHASE I PARCEL NEGOTIATED SETTLEMENT PRICE OWNER(S) / ADDRESS NUMBER LEGAL DESCRIPTION LAND BUILDING FIXTURES SUB TOTAL BONUS TOTAL Max and Helen Gertler 24-A Lots 1, 2, and 3, $360,000 $265,000 0 $625,000 $33,750 $658,750 125 Buckingham Road Block 24N, Miami North Brooklyn, NY 11226 (P.B. B-41) S & S Stove Repair 24-B Lot 4, Block 24N, 120,000 0 0 120,000 8,500 128,500 Don Sheridan, President Miami North 1018 N. Miami Avenue (P.B. B-41) Miami, FL 33136 Park A. Partners, Ltd. 24-E Lots 13, 14, 15, and 16 482,400 0 0 482,400 26,620 509,020 c/o John Mudd Block 24N, Miami North 11880 Bird Road, No. 201 (P.B. B-41) Miami, FL 33175 Antonio and Reynaldo 24-F Lots 21, 22, 23, and 24 480,000 237,000 $18,490 735,490 38,350 773,840 Hechavarria Block 24N1Miami North 33 N.W. 9th Street (P.B. B-41) Miami, FL 33136 Paul Baron 37-C Lots 4, 5, and 21, and 420,000 99,720 27,388 547,108 28,486 575,594 13481 S.W. 108 Street Circle East 1/2 of Lot 20 Miami, FL 33186 Block 37N, Miami North (P.B. B-41) Louis La Verne 37-D Lots 6 and 7 240,000 145,000 4,680 389,680 21,750 411,430 3925 N. Miami Avenue Block 37N, Miami North Miami, FL 33137 (P.B. B-41) Antonio and Reynaldo 37-A N 50 ft. of Lot 1 and 52,000 28,000 520 80,520 6,500 87,020 Hechavarria E 25 ft. of N 50 ft. of 33 N.W. 9th Street Lot 2, Block 37N, Miami, FL 33136 Miami North (P.B. B-41) Isidore and Morris Lipinsky 37-I Lots 3 and 4 220,000 130,000 8,318 358,318 20,000 378,318 800 N. Miami Avenue Block 37N, Miami North Miami, FL 33136 (P.B. B-41) TOTALS $2,374,400 1 $904,720 1 $59,396 $3,338,516 $183,956 1$3,522,472 6/13/85 IMF� I`ll 11 �i ; `'� iqq°s i' j ��I"��'r tip iM Q 4 CITY OF MIAMI. FLORIDA INTER -OFFICE MEMORANDUM To. The Honorable Mayor and Members of the City Commission FROM. Sergio Pereiia City Manager 7 / . DATE: 4Lk4 I'T I'M J F1L[: SU.JECT. S.E. Overtown/Park West Closing Procedures On Parcel Purchases City Commission Agenda REFERENCES: June 20, 1985 ENCLOSURES: ( 1 ) It is recommended that the City Commission approve the attached resolution authorizing the City Manager to purchase eight parcels of land located within Phase I of the Southeast Overtown Park West Redevelopment Area at the values negotiated based on appraised values with closing bonuses valued at the rate established by the City Attorney and further authorizing the City Attorney to proceed to close on these parcels. On April 11, 1985, the City Commission authorized the City Manag- er to initiate the acquisition of the seventy-one privately owned parcels in the S.E. Overtown/Park West Redevelopment Area (Reso- lution 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 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 many of the area's landowners and has negotiated "Agreements of Purchase and Sale" for eight parcels that total over half of the property owners within Blocks 24 and 37 of the Phase I development area (see Table I and attached maps). It is anticipated that the remaining property will be purchased through negotiated settlement. The City Manager seeks Commission ratifi- cation of these agreements in order to expedite closing the land sale agreements. 85-664 _�'.. "* y __ _�_�' Mayor and Commission -2- The negotiated settlement prices for three of the parcels comport with the appraised values authorized by the Commission on April 11, 1985. These are Parcelss 24-A, owned by Max and Helen Gertler, Parcel 24-B, owned by S & S Stove Repair, and Parcel 37-I, owned by Isidore and Morris Lipinsky. The negotiated settlement prices for five of the parcels were slightly higher than those approved by the Commission, attributa- ble to reappraisal of the properties. However, these values still fall well within the price range reserved by the 15 percent contingency fund. The settlement prices also include the cost of purchase of immovable fixtures based on appraisals prepared by S.M. Dix. These changes are as follows: o Parcel 24-E, owned by Park A. Partners, Ltd., orig- inally appraised at $472,000, was revalued at $482,400 because the original appraisal included a debit of �10,000 for the demolition of the structure. Reappraisal was based on land value only and resulted in a 2.2 percent increase in the nego- tiated settlement price. o Parcel 24-F, owned by Antonio and Reynaldo Hechevar- ria, was originally appraised at $690,000. Upon reappraisal, the land was valued at $717,000, a 3.9 percent increase. The increased value was attrib- utable to a Unity of Title which increased the land value, increased the land/building ratio, and in- creased the valuation given to property improvements. o Parcel 37-A is also owned by the Hechavarrias. Originally appraised at $70,,000, it was reappraised to be worth $80,000. The original appraisal over- looked recent improvements to the property which increased the value of the structure. This represents a 14% increase. o Parcel 37-C, owned by Paul Baron, was originally approved as worth $500,000. Upon reappraisal, the value of the structure was increased by $20,000 as a result of reevaluation of the land/building ratio and reassessment of the condition of the structure. This reflects a 4% increase in value. 85-664 Mayor and Commission -3- o Parcel 37-D, owned by Louis La Verne, was first valued at $375,000 and was reappraised to be worth $385,000, a 2.67% increase, which was based on reevaluation of the structure. The total difference in value of these five parcels from their original appraised value is $77,400, an increase of 3.7 percent. Pursuant to Resolutions 85-394 and 85-396, and because the nego- tiated settlement values for these eight parcels are within the price ranges authorized by the City Commission, it is recommended that the Commission purchase these parcels of land at the costs proposed on Table I and as contained in the "Agreements for Pur- chase and Sale." Funding for this acquisition is from the City of Miami 1976 General Obligation Housing Bond. • ' .3•, F^-^ara�j"+���s xitq`s:�'r "'a'.�;. .` �-FY y,''; ;. I. F,,'?y't�.: ;� _ - - -.- r �:w:caaaaev-gym M 11•+� TABLE It DESCRIPTION. IDENTI►ICATION, AND COST OF PARCELS -- S.E. OVERTOP■/PAR[ NEST PROJECT PRASE I PARCEL NEGOTI1-TED SETTLEMENT PRICE OWNER(S) / ADDRESS NUMBER LEGAL DESCRIPTIC:: LAND BUILDING FIX"URES SUB TOTAL BONUS TOTAL Max and Helen Gertler 24-A Lots 1, 2. and 3. $360,000 S265,000 O 3625,000 $33,750 $658.750 125 Buckingham Road Block 2411. Miami North Brooklyn, NI 11226 (P.B. B-41) S A S Stove Repair 24-B Lot 4. Block 24::, 120.000 r 0 0 120,000 8,500 128,500 Don Sheridan. President Miami North 1018 H. Miami Avenue (P.B. B-41) Miami. FL 33136 Park A. Partners. Ltd. 24-E Lots 13. 14. 15, and 16 482,400 0 0 482.400 26,620 509,020 c/o John Mudd Block 24N. Miami North 11880 Bird Road. No. 201 (P.B. B-41) Miami. FL 33175 Antonio and Reynaldo 24-F Lots 21. 22. 23. and 24 480,000 237.000 $18,490 735,490 38.350 773.840 Hechavarria Block 24N. Miami North 33 N.Y. 9th Street (P.B. B-41) Miami, FL 33136 Paul Baron 37-C Lots 4. 5. and 21, and 420.000 99.720 27.388 547,108 28.486 575,594 13481 S.Y. 108 Street Circle East 1/2 of Lot 20 Miami, FL 33106 Block 37N. Miami North (P.D. B-41) Louis La Verne 37-D Lots 6 and 7 240,000 145,000 4.680 389,680 21.750 411.430 3925 N. Miami Avenue Block 37N. Miami North ; Miami, FL 33137 (P.B. B-41) Antonio and Reynaldo 37-A N 50 ft. of Lot 1 and 52,000 1 28.000 520 80,520 6,500 67,020 Hechavarria E 25 ft. of N 50 ft. of 33 N.Y. 9th Street Lot 2. Block 37S. I Miami. FL 33136 Miami North (P.B. B-41) Isidore and Morris Lipinsky 37-I Lots 3 and 4 220,000 I 130,000 11,3111 3511,3111 20,000 3713.3111 800 N. Miami Avenue Block 37N. Miami :forth Miami. FL 33136 (P.B. B-41) TOTALS 132.374.400 $904.720 $59.396 33.338,516 $183.956 135,522.472 6/1S/tl:? n JA-;a Y• {Y ` r� I fa R 10 11 9 8 7 6 5 JMOVAI ; fOpp '� I I II A I = 12 B -- 2a tll Illll l� C� � WMV110".1, Y ; ! I 14 1 17 18 19 20 �' �' 4 ,!11 !� ! jii !•��;� it Ii''� +� 1 . !: '� ! i'. .I I i f f 1 1 5 .. 1 C� �. BLOCK 24 PARCELS p Nat' ro scm . MY Y 3i Z ST. ISI.S' S0 VA,DImG E Mifil L Pal 591 44 �E N II 9 9 jIi ��i��� 3 1 .P W 51,041,AovvG. I I MIA ,QfE/S r RC H! o,eeas�V _ s 2 ; I. 37 1 W 5utoi vG �. u�fwr.Av v<. vsAK 4/. lb fOT 8, t ��q e/5T�4�/� w .Parr �T ffL514 16 IT 18 19 1 22 �I H G 15 o - 8 ST. 0 BLOCK 37 PARCELS f- Ix -Id 0z 11 c 1. 2. 3. 4. EXHIBIT A PARCEL NO. 24-A CITY OF MIAMI SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT STATENZNT�OF_JUST _COMPENSATION PROPERTY DESCRIPTIONS OWNERS OF RECORDS: FEE SIMPLE: BASIS OF JUST COMPENSATION: Lots 1, 2, and 3 Block 24N Miami North (P.B. B-41) Max and Helen Gertler $625,000.00 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: LAND IMPROVEMENTS FIXTURES TOTAL JUST COMPENSATION $ 360', 000.00 $ 265,000.00 S -- $ 625,000.00 85--664 9 r CERTIFICATE OF VALUATION Parcel•24-A 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. 24-01 Folio No.: 1-01024-01-01 Legal Description: South 50 ft. of Lots 1 and 2, Block 24, Miami North (P.B. B-41) I hereby certify that to the best of my 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 has personally inspected the property and surrounding market area; o Facts and rationale stated in this report are corrects 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 Peet 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 The undersigned acknowledges the assistance of Robert Bruce in the property inspection, data research, and preparation of this report. o My opinion of the Market Value of the property appraised at December 31, 1984 is: ONE HUNDRED THIRTY-FIVE THOUSAND DOLLARS, k Respectfully submitted, REAL ESTATE RESEARCH CORPORATION _,.. Cliffor A. Koenig, MAI `. Vice President FXAC �3 t{ 85--664 CERTIFICATE OF VALUATION Parcel 24-A 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. 24-02, 03 Folio No.: 1-01024-01-02, 03 Legal Description: North 100 ft. of Lots 1 and 2 and Lot 3, Block 24, Miami North (P.D. e-41) I hereby certify that to .the best of my knowledge and belief, except as otherwise noted in this reports 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; o This appraisal was prepared in accordance with and is subject to the Rules of professional Ethics of the American Institute of Real Estate Appralsersi 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 Robert Bruce in the property inspection, data research, and preparation of this report. za: o My opinion of the Market Value of the property appraised at December 310 1984 is: FOUR HUNDRED NINETY THOUSAND DOLLARS (14F59600) Respectfully submitted, REAL ESTATE RESEARCH CORPORATION jC Cliffor A. Koenig, MAI �a Vice President 85-664 EXHIBIT A PARCEL No. 24�-9 CITY OF MIAMI SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT STATEMENT yOF_JUST _COMPENSATION 1. PROPERTY DESCRIPTION: 2. OWNERS OF RECORDS! Lot 4, Block 24N Miami North (P.B. B-41) S & S Stove Repair, Inc. 3. FEE SIMPLE: $120,000.00 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. The following items are specifically included in the afore- mentioned approved appraisal and the co+ na deration 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: LAND IMPROVEMENTS FIXTURES TOTAL JUST COMPENSATION $120,000.00 $120,000.00 85--664 CERTIFICATE OF VALUATION Parcel No. 24-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: E Parcel No.: 24-04 Folio No.: 01-01024-01-04 Legal Description: Lot 4, Block 24, Miami North (P.B. B-41) I hereby certify that to the best of my 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 has personally inspected the property and surrounding market areas 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 desig- nated members. MAIs and RMs who meet the minimur standards of this program are awarded periodic educational certifica- tion. The MAX below is currently certified under this program through September 15, 1987; o The undersigned acknowledges the assistance of Robert Bruce in the property inspection, data research, and preparation of this report. o My opinion of the Market Value of the land appraised at December 31, 1984 is: =; ONE HUNDRED TWENTY THOUSAND DOLLARS ( 12 , 00 ) Respectfully submitted, ` REAL ESTATE RESEARCH CORPORATION Cliffor A. Koenig, �XAI Vice President 85--664. EXHIBIT A PARCEL NO. 24-E CITY OF MIAMI SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT STATEMENT OF JUST COMPENSATION 1. PROPERTY DESCRIPTION: Lots 13, 14, 15, and 16 Block 24N Miami North (P.B. B-41) 2. OWNERS OF RECORDS: Park A. Partners, Ltd. 3. FEE SIMPLE: $4= 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. The following items are specifically included in the afore- mentioned approved appraisal and the consideration deration 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: LAND IMPROVEMENTS FIXTURES TOTAL JUST COMPENSATION '/g2y4pp.00 S �r6ee-�o 85-664 i CERTIFICATE OF VALUATION Parcel No. 24-E 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.: 24-12 Folio No.s 01-01024-01-12 Legal Description: Lots 13 through 16, Block 24, Miami North (P.B. B-41) 1 hereby certify that to the best of my 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 has 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 desig- nated members. Mils and RMs who meet the minimum standards of this program are awarded periodic educational certifica- tion. The MAI below is currently certified under this program through September IS, 1987; o The undersigned acknowledges the assistance of Robert Bruce in the property inspection, data research, and preparation_ of this report. o My opinion of the Market Value of the property appraised at December 31, 1984 is:' Sa: 0 Respectfully submitted, REAL ESTATE RESEARCH CORPORATION Cliffor A. Koenig, MAI Vice President 85-664 A EXHIBIT A PARCEL NO. 24-F (Revised) CITY OF MIAMI SOUTHEAST OVERTOWN%PARK WEST REDEVELOPMENT PROJECT STATBMNNT OF JUST COMPENSATION 1. PROPERTY DESCRIPTION: 2. OWNERS OF RECORDS: 3. FEE SIMPLE: 4. BASIS OF JUST COMPENSATION: Lots 21, 22, 23, and 24 Block 24N Miami North (P.B. B-41) Antonio and Reynaldo Hechavarria $717,000.00 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 consi�-deration 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: LAND IMPROVEMENTS FIXTURES TOTAL JUST COMPENSATION $480,000.00 $237,000.00 $ 18,490.00 $735,490.00 CERTIFICATE OF VALUATION PARCEL NO. 24-F (Revised) 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.: 24-17, 18, 6 19 Folio No.: 1-01024-01-17, 18► 6 19 Legal Description: Lots 21, 22, 23, and 24, Block 24 Miami North (P.B. B-41) I hereby certify that to the best of my 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 has 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 MAI below is currently certified under this program through September 15, 1987; o The undersigned acknowledges the assistance of Robert Bruce in the property inspection, data research, and preparation of this report. o My opinion of the market value of the property appraised at December 31, 1984 is: SEVEN HUNDRED SEVENTEEN THOUSAND DOLLARS ($717,000) Respectfully submitted, REAL ESTATE RESEARCH CORPORATION oa Clifford A. Koenig, MAI Vice President ROC a 85-664. 1. 2. EXHIBIT A PARCEL NO. 37-A — (Revised) CITY OF MIAMI SOUTHEAST OVERTOWN/PAR.K WEST REDEVELOPMENT PROJECT STATEMENT OP JUST COMPENSATION PROPERTY DESCRIPTION: OWNERS OF RECORDS: 3. FEE SIMPLE: 4. BASIS OF JUST COMPENSATION: North 50 ft. of Lot 1 and East 25 ft. of North 50 ft. of Lot 2 Block 37 Miami North (P.B. B-41) Antonio and Reynaldo Hechavarria $80,000.00 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 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 inclu ded ded 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: LAND IMPROVEMENTS FIXTURES TOTAL JUST COMPENSATION $52,000.00 $28,000.00 $ 520.00 $80,520.00 8S-664 EXHIBIT A CITY OF MIAMI SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT PARCEL NO- 3 ; -A__ _.. (Revised) STATEMENT OF JUST COMPENSATION 1. PROPERTY DESCRIPTION: 2. OWNERS OF RECORDS: 3. FEE SIMPLE: 4. BASIS OF JUST COMPENSATION: North 50 ft. of Lot 1 and East 25 ft. of North 50 ft. of Lot 2 Block 37 Miami North (P.B. 3-41) Antonio and Reynaldo Hechavarria $80,000.00 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 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 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. f . REAL ESTATE: Al LAND $52,000.00 IMPROVEMENTS $28,000.00 FIXTURES $ 520.00 a TOTAL JUST COMPENSATION $ 80,520.00 `os, 85--664 5 r ,� n o �.3M� r� CERTIFICATE OF VALUATION PARCEL NO. 37-A (Revised) 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.: 37-01 Folio No.: 1-01037-01-01 Legal Description: Portion of Lots 1 and 2 in Block 37 of P.B. 8-41 Dade County, Florida We hereby certify 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 MAI below is currently certified under this program through September 15, 1987; o The undersigned acknowledges the assistance of Robert Bruce in the property inspection, data research, and preparation of this report; o Our opinion of the current Market Value of the property appraised as of January 1, 1985 is: EIGHTY THOUSAND DOLLARS (580,000) which may be allocated as follows: Land: Improvements: Total: $ 52,000 28,000 $ 80,000 Respectfully submitted, REAL ESTATE RESEARCH CORPORATION Clifford A. Koenig, MAI Vice President G• Robert 0. Bernstein Senior Appraiser 85-664. EXHIBIT A PARCEL NO. 37-C (Revised) CITY OF MIAMI SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT STATEMENT OF JUST COMPENSATION 1. PROPERTY DESCRIPTION: Lots 4, 5, and 21 and East 1/2 of Lot 20 Block 37, Miami North 2. OWNERS OF RECORDS: Paul Baron 3. FEE SIMPLE: $519,720.00 4. BASIS OF JUST COMPENSATION: The City's offer represents the full amount of Just Compen- sation fc: t::c 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: LAND IMPROVEMENTS FIXTURES TOTAL JUST COMPENSATION $ 420,000.00 S 99,720.00 $ 27,388.00 S 547,108.00 Parcel No. 37-C CERTIFICATE OF VALUATION Upon request For valuation by the City of Miarri for the southeast Cvertown,'Park West Redevelopment Project, we have made an investigation and analysis of the following described property: Parcel No.: 37-04, 05, 15 Folio No.: 01-01037-01-04, 05, 15 Legal Description: Portion of Lots 4, 5, 20 and 21, Block 37, Miami North (P.D. B-41) Dade County, Florida We hereby certify 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. MATS 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 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 January 1, 1985, is: FIVE HUNDRED THOUSAND DOLLARS ( 500, ) ,.- which may be allocated as follows: Land: Improvements: Total: $420*000 SS 8� $99,720 54#"00� $519 , Respectfu2l REAL ESTATE "T le submitted, EARCH CORPORATION �x� Clifford A. Koenig, MAI Vice President G• Robert 0. Bernstein Senior Appraiser ss-ss4 Q* k EXHIBIT A rARCEL NO. _37-D (Revised) CITY OF MIAMI SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT STATEMENT OF JUST COMPENSATION 1. PROPERTY DESCRIPTION: Lots 6 and 7 Block 37N Miami North (P.B. B-41) 2. OWNERS OF RECORDS: Louis La Verne 3. FEE SIMPLE: $385,000.00 4. BASIS OF JUST COMPENSATION: The Citv'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: LAND IMPROVEMENTS FIXTURES TOTAL JUST COMPENSATION $240,000.00 $145,000.00 $ 4,680.00 $ 389,680.00 85-664 Ali } i f j i CERTIFICATE OF VALUATION Parcel 3 7-D (Revised) S 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: F S$ VA Parcel No.: 37-06 Folio No.: 01-01037-01-06 Legal Description: Lots 6 and 7, Block 37, Miami North (P.B. B-41) We hereby certify 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 MAI 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, at January 1, 1985, is: THREE HUNDRED EIGHTY-FIVE THOUSAND DOLLARS ( 385, ) which may be allocated as follows: Land: $240,000 Improvements: $145,000 Total: $385,000 Respectfully submitted, REAL ESTATE RESEARCH CORPORATION Clifford A. Koenig, MAI Vice President G -� Robert O. Bernstein , Senior Appraiser 85--664 a EXHIBIT A CITY OF MIAMI SOUTHEAST OVERTOWN/PARK WEST REDEVELOPMENT PROJECT PARCEL NO. 37-I STATEMENT OF JUST COMPENSATION 1. PROPERTY DESCRIPTION: 2. OWNERS OF RECORDS: 3. FEE SIMPLE: 4. BASIS OF JUST COMPENSATION: Lots 23 and 24 Block 37N Miami North (P.B. B-41) Isidore and Morris Lipinsky $350,000.00 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 allcw- 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 1 and the basis thereof. REAL ESTATE: LAND $220,000.00 IMPROVEMENTS $130,000.00 FIXTURES $ 8,318.00 TOTAL JUST COMPENSATION $358,318.00 ri s "' CERTIFICATE OF VALUATION ''ARCEL NO. 37-1 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 propertyt Parcel No.% 37-17, 18 Folio No.t 01-01037-01-171, 18 Legal Description: Lots 23 and 24 of in Block 37 of P.B. B-41 Dade County, Florida we hereby certify to the best of our knowledge and belief, except as otherwise noted in this reports 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 areal 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 certifica- tion. The MAI 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 current Market Value of the property appraised as of January'1, 1985 is: THREE HUNDRED FIFTY THOUSAND DOLLARS (5350l,000) which may be allocated as follows: Land: S2200000 Improvements: $130,000 Total: $350,000 Respectfully submitted, REAL ESTATE RESEARCH CORPORATION 11::fawle - - - - - % P Clifford A. Koenig, MAI Vice resident A19—co• Robert 0. Bernstein Senior Appraiser 85-664 wc �.t , t' M`. rt 4 CZATIPICATE Op VALUATION nARCEL NO. 37-1 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: t Parcel No.: 37.17, 18j. Folio No.: 01-01037-01-17, 18 Legal Description: Lots 23 and 21 of in Block 37 of P.H. B-41 Dade County, Florida We hereby certify to the best of our knowledge and belief, except as otherwise noted in this reports 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 certifica- tion. The MAI 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 current Market Value of the property appraised as of January'1, 1985 is: THREE HUNDRED FIFTY THOUSAND DOLLARS r 0) which may be allocated as follows: Land: $220,000 Improvements: $13_00 Total: $350,000 Respectfully submitted, REAL ESTATE RESEARCH CORPORATION 1cfe4wX - - - 0 SP Clifford A. Koenig, MAI . Vice President G, Robert 0. Bernstein Senior Appraiser TABLE I: DESCRIPTION, IDENTIFICATION, AND COST OF PARCELS -- S.E. OYERTOWM PA / 1;K WEST PROJECT PHASE I PARCEL OWNER(S) / ADDRESS NUMBER LEGAL DESCRIPTION NEGOTIATED SETTLEMENT PRICE; Max and Helen Gertler LAND BUILDING _ FIXTURES SUB TOTAL BONUS TOTAL 125 Buckingham Road Brooklyn, NY 11226 24-A Lots 1, 2, and 3, Block 24N, Miami North $360,000 $265,000 0 $625,000 $33,'150 6658,750 (Pock B-41) S A S Stove Re air Don Sheridan, President 24-B Lot 4, Block 24N, 120,000 0 � 1018 N. Miami Avenue Miami North (P.B. B-41) 0 120,000 8,500 128,500 Miami, FL 33136 Park A. Partners, Ltd. c/o John Mudd 24-E Lots 13, 14, 15, and 16 482,400 11880 Bird Road, No. 201 Block 24N, Miami North (P.B. B_41) 0 0 482,400 26,620 509,020 Miami, FL 33175 Antonio and Reynaldo Hechavarria 24-F Lots 21, 22, 23, and 24 480,000 237,000 $18,gyU `1j5,490 33 N.W. 9th Street Block 24N, Miami North (P.B. B-41) 38,350 773,t140 Miami, FL 33136 Paul Baron 13481 S.W. 108 Street Circle Miami, FL 37-C Lots 4, 5, and 21, and East 1/2 of Lot 20 420,000 99,720 27,388 547,108 28,486 33186 Block 37N, Miami North 575,594 (P.B. B-41) Louis La Verne 3925 N. Miami Avenue Miami, FL 33137 37-D Lots 6 and 7 Block 37N, Miami North 240,000 145,000 4,680 389,680 21,750 4i1,430 (P.B. B-41) Antonio and Reynaldo Hechavarria 37-A N 50 ft. of Lot 1 and 52,000 28,000 33 N.W. 9th Street E 25 ft. of N 50 ft. of Lot 520 80,520 6,500 8'1,U20 Miami, FL 33136 2, Block 37N, Miami North (P.B. B-41) Isidore and Morris Lipinsky 800 N. Miami Avenue 37-I Lots 3 and 4 220,000 130,000 Miami, FL 33136 Block 37N, Miami North (P.B. B_41) 8,318 358,318 20,000 378,318 6 13 85 TOTALS $2,374,400 $904,720 $59.396. $3,338,516 $183,956 $3,522,472