HomeMy WebLinkAboutPre Summary Form 2APR -03-2007 16:40 From:CITY MANAGER
0�'''E AGENDA ITEM SUMMARY FORM
`
r, i. �1LE ID: 67 - Db gio5
Date: 4/2/20Q2
CommIS110A Mcattng Duto: 4/12/2007
Requesting Department: Public Faralitios
District Impacted;
Type; ® Resolution [] Ordinance ❑ Emorgonoy Ordinance ❑ Discussion item
❑ Othor
Subject: >rinsl Amendment to Purchase and Sale Aareerunt for 779 NW 5711, Street. Miami. Florida. to
Progrgssive_Vision Dovoloamamt Comy.F to ion
Purpose of Item:
Tho administration recommends that the Mituni City Comurission adopt the attached Resolution
ratifying the City Manager's exooutlon of the First Amendment, In substantially the attached form, to
the Agreement for Purchase and Salo ("Agroamom"), of City -owned real property located at 779 NW
57'h Street, Miami, Florida ("Property") botwoon tho City of Miami ("City") and Progressive Vision
Community Development Corporation, Inc., a Florida not-for-profit corporation, ("Purchaser") to
provide for: (1) a three (3) month extension to satiety the Conditions precedent; and (2) modification
of the unit count and type to provider throe (3) owner occupied townhouse units within the economic
affordubility Tango of very low, low and/or moderato income families and/or individual,+; with the
terms and conditions more partieularlv sot forth in said First Amendment.
3ackground Information:
Soe Supplemontal Shoot
udeet Impact Analvsls
NO Is this item related to ruvunuo?
NO Is this item an expenditure? rf so, please identify funding source below.
General Account No.-
special
o:Special Revonuc Account No:
C'11' Project No:
NO Is this item landed by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cast:
Maintenance Cost;
Total Fiscal Impact.,
Ftnal Approvals
t51M AND PAIE,
CIP N/A Budget ,... , ._..N/A_
If uylnp or ruw i 1 Wgdlul I'undh
Grants_ Risk Managetnwtt NI&� -`-
Purchasing Dept, Director __
Chief City Manager_
l'f;uo 1 of 2
SUPPLEMENTAL SHEET
Subject: First Amendment to Purchase and Sale Agreement for 779 NW 57`x' Street, Miami, Florida, to
Progressive Vision Development Corporation
Background Information:
The City of Miami has a severe shortage of housing within the affordability range of families and
individuals of very low, low and moderate income. The City recognizes that the partnership of the
public and private sector is necessary to foster the development of housing affordable to very low, low
and moderate -income families and individuals within the City.
Progressive Vision Community Development Corporation, Inc., a not-for-profit corporation
("Purchaser") requested that the City convey at no cost a vacant City -owned parcel in the Model City
area located at 779 NW 57`x' Street. The conveyance of land would allow Purchaser to proffer any
savings in total cost of the residence to the homebuyer because the land is acquired without cost.
Currently the property sits vacant and represents a maintenance cost and liability to the City and does'
not generate ad valorem taxes.
The City Commission declared the property surplus and authorized an Agreement for Purchase and
Sale ("Agreement') under Resolution No. 05-0347 on May 26, 2005. The City agreed to convey the
property to the Purchaser with certain conditions precedent that had to be met prior to the sale of the
property. The deadline for satisfying the conditions precedent expires March 28, 2007 and the
Purchaser is requesting an additional three (3) months in order to satisfy such conditions precedent.
The City Commission has detennined it to be in the best interest of the City to extend the date for
!meeting the conditions precedent by three (3) months and modify the unit count and type of housing
to provide three townhouse units within the economic affordability range of very low, low and/or
moderate income families and/or individuals, based on criteria established by federal and/or state law
or by the City Commission of the City of Miami.
Paee 2 of 2