HomeMy WebLinkAboutItem #05 - Discussion ItemFRo lark Mer ill
Assistant to the City Manager
1N1- iR.l i 1C E Mi'.IV1��i'�,:% '4I3sJ;:1
F:ricLosUXICs:
The new State Budget for FY 1979-80 containsa line item that gives the
State the opportunity tobuy.the City'sinterest in the Interama property
for $8 million. This land is intended for use by the Florida International
University .(FIU)"for -its ' North Miami campus.
There
tare restrictip s on onthhow
the City_' can spendthese funds. The $million��
that are authorized' by State law under the "Local Option Tourist Development`
Act" (sports arenas, stadiums, convention centers, etc.)
Although the $8 million would be the earliest cash ththe Cirtyewouldaleceivehe
from its,original 1700 acre Interama s ,
ioesCity's present interest in the land. The March, 1973, Interama agreement
sets the 92 acre land value at $8.5 million. Theasame
.agreement
he ntaidentifh identified
the appraised value at $13,538,000,($ p the) City semi-annual s
now six payments "in default,. agreed in 1973 to pay
pay-
ments of $300,000 each, which included a•5°1 interest rate, beginning in July
1976. -:The total value of that agreement is$14.7'million in principaland
interest of which :$1.8:million represents defaulted payments.
Attached is a copy of the budget page that setse side tIet$8amillior.onlin or state
funds for the purchase of the City: of Miami prop y
o
the Commission Meeting, I` will outline the process for receiving payment from
the State for the Interama property.
'ITEM
L_NFFBENCE COMMITTFF_AFPORT
FISCAL YEAR FISCAL YEAR
197919110 19110-1961
55C FIXED CAPITAL OUTLAY
DADE COUNTY CI AND SFETC LAND PREPARATION 400,000
FROM GENERAL REVENUE FUND • . • . • . . • 3,
PROVIDED, HOWEVER, A SITE IN DADE COUNTY IS HEREBY
DESIGNATED WITHIN THE AREA BOUNDED ON THE NORTH BY
SOUTH WEST BBTH STREET, ON THE SOUTH BY SOUTH WEST
1B4TH STREET, ON THE EAST BY SOUTH WEST 167TH AVENUE
(THEORETICAL) AND ON THE WEST BY SOUTH WEST 1/TTH
AVENUE (THEORETICAL), FOR THE CONSTRUCTION OF AN
EVALUATION AND TREATMENT (FORENSIC) FACILITY FOR THE
DEPARTMENT OF HEALTH AND REHABILITATIVE SERVICES AND
A CORRECTIONAL INSTITUTION FOR THE DEPARTMENT OF
CORRECTIONS. 1N THE EVENT LITIGATION IS FILED QUES-
TIONING THE LEGALITY OF THE LOCATION SELECTED BY THE
STATE, AND THE LITIGATION IS PENDING FOR MORE THAN
120 DAYS, THESE FACILITIES SHALL SE MOVED TO ANOTHER
LOCATION.APPROVED BY THE GOVERNOR AND CABINET.
EDUCATION, OE►ARTMENT•DF
UNIVERSITIES, DIVISION OF
56 FIXED CAPITAL OUTLAY
PURCHASE OF LAND FROM CITY OF MIAMI B�000�000,
FROM GENERAL REVENUE FUND
PROVIDED• HOWEVER, THAT THE CITY OF MIAMI SURRENDER
INTEREST, TITLE AND ALL FUTURE DEVELOPMENT IN THE
PROPERTY REFERRED TO IN ITEM 56. PROVIDED, FURTHER,
THAT THE FUNDS INCLUDED THEREIN SHALL BE USED OMLY
FOR THE PURPOSES PROVIDED IN SECTION
125.0104151(A)1, FLORIDA STATUTES.
GAME AND RESVIWATER FISH COMMISSION, FLORIDA
57 FIXED CAPITAL OUTLAY
EXOTIC FISH RESEARCH LABORATORY, BOCA
RATON
FROM GENERAL REVENUE FUND • . . • ••
55 FIXED CAPITAL OUTLAY
SIX RADIO ANTENNA SUPPORT STRUCTURES"
FROM GENERAL REVENUE FUND • . . • • •.•
SBA FIXED CAPITAL OUTLAY
RENOVATION OF AIR CONDITIONING EQUIPMENT,:.
BRYANT BUILDING
FROM GENERAL REVENUE FUND • . • • •
59 NOT USED
59A FIXED CAPITAL OUTLAY
PARKING FACILITIES, PANAMA CITY REGIONAL
OFFICE
FROM GENERAL REVENUE FUND . •
171'
175,000
10,000
12,200
74,39e
7000"