HomeMy WebLinkAboutR-84-1224J84-1 105
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RESOLUTION NO. 84 '1.2!Z4
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO PURCHASL THE PROPERTY LOCATED AT 1390
NW 7 STREET, AND LEGALLY DESCRIBED AS
LOTS 71 8, 9, AND 10, LESS THE NORTH TEN
FEET THEREOF BLOCK 32, OF LAWRENCE E
ESTATE LAND COMPANY SUBDIVISION, {:
ACCORDING TO THE PLAT THEREOF, AS
RECORDED IN PLAT BOOK 2 AT PAGE 46 OF THE
PUBLIC RECORDS OF DADE COUNTY, FLORIDA,
FOR ANTICIPATED USE AS PART OF THE ORANGE
BOWL STADIUM COMPLEX OR FOR OTHER PUBLIC
USE, FOR THE SUM OF $550,000; AND FURTHER
AUTHORIZING THE CITY ATTORNEY TO PROCEED
TO CLOSE ON THIS PROPERTY AFTER
EXAMINATION OF THE ABSTRACT AND
CONFIRMATION OF AN OPINION OF TITLE.
WHEREAS, it has been determined it would be advantageous to
the CITY OF MIAMI for anticipated use as part of the Orange Bowl
Stadium Complex to acquire the property located at 1390 NW 7
Street and legally described as Lots 7, 8, 9, and 10, less the
north ten feet thereof, Block 32, of the Lawrence Estate Land
Company Subdivision, according to the plat thereof, as recorded
in Plat Book 2 at page 46 of the Public Records of Dade County,
Florida; and
WHEREAS, an appraisal was ordered and received by the CITY
setting value at $500,000; and
WHEREAS, the Land Acquisition Committee met with the
President and a member of the Board of Directors of the MIAMI
BOARD OF REALTORS, the owners of the property, to negotiate the
acquisition of this property; and
WHEREAS, a formal offer to purchase was made to the MIAMI
BOARD OF REALTORS in the amount of $500,000, the appraised value
as established by Property Consultants, Inc., an MAI Appraisal
company, which offer was rejected by the MIAMI BOARD OF REALTORS;
and
WHEREAS, a second offer of $525,000 was made in accordance
with Resolution 77-73; and
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1JEETING OF
RESOLUI ION
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WHEREAS, this offer was also rejected by the MIAMI BOARD OF
REALTORS; and
WHEREAS, it was brought forth in negotiations that the MIAMI
BOARD OF REALTORS has a firm offer in the sum of $595,000 for
this property; and
WHEREAS, the MIAMI BOARD OF REALTORS has offered to transfer
title of the property to the CITY OF MIAMI for $550,000 because
it is in keeping with their interest in benefiting the CITY OF
MIAMI and its citizens rather than benefiting private enterprise;
and
WHEREAS, if this was an arm's length transaction and a
standard acquisition, the CITY would be responsible for also
paying the sellers' attorneys' fees and other costs; and
WHEREAS, the amount of $550,000 is a reasonable amount in
keeping with the costs of acquiring property through the normal
negotiation process;
NOW, THEREFORE BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to
purchase the property located at 1390 NW 7 Street and legally
described as Lots 7, 8, 9, and 10, less the north ten feet
thereof, Block 32, of the Lawrence Estate Land Company
Subdivision, according to the plat thereof, as recorded in Plat
Book 2 at page 46 of the Public Records of Dade County, Florida
for anticipated use as part of the Orange Bowl Stadium Complex or
for other public use, for the sum of $550,000, subject to
availability of funds provided by the Tourist Development Council.
Section 2. 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.
2 84-1224
Me,
Z-1
J84-1 105
MAYOR
84-1224