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CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO :
FROM :
The Honorable Ma
Meers of the ity Com'n is
Joe AI{rjola
Chief(( ministrator
DATE:
SUBJECT:
Acquisition of Real Property Located at
247 Northeast 59`h Street LHP #79 in
Connection with Little Haiti Park Project
REFERENCES : Resolution and Purchase and Sale
ENCLOSURES: Agreement
February 12, 2004 City Commission
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the attached Resolution authorizing the City Manager
to execute a Purchase and Sale Agreement for the acquisition of the property located at 247 Northeast 59111 Street
(the "Property"), Miami, Florida, as legally described in the Purchase and Sale Agreement between the City of
Miami and B and B Enterprises, a Florida General Partnership, attached hereto and made a part hereof, in connection
with the development of Little Haiti Park, for a total purchase price of $189,750 which equates to $23/sf for the
gross building area; the gross building area is based on an estimated 8,215 square feet for subject property. The
Resolution further authorizes the City Manager to consummate said transaction in accordance with the terms of said
Purchase and Sale Agreement; further allocating funds in the amount of $215,950 from the $255 million Homeland
Defense/Neighborhood Improvement Bond to cover the cost of said acquisition inclusive of cost of survey, appraisal,
environmental report, title insurance, and demolition.
BACKGROUND:
On September 25, 2001 the City of Miami Commission adopted Resolution 01-1029 directing the City Manager to
take all steps necessary to initiate and implement the development of a superlative park in the Little Haiti area (the
"Park Project"). The boundaries for the Park Project as established by the City Commission are to be from
Northeast 59th Street to Northeast 64th Terrace between Northeast 2nd Avenue and Northeast 4th Avenue.
Resolution 02-395, adopted April II, 2002 directed the City Manager to expedite the land acquisition for the Park
Project approved in the $255 Million Dollar Homeland Defense/Neighborhood Improvement Bond Issue. The
property located at 247 Northeast 59th Street is within the park boundaries and is necessary as part of the land
assembly required for the Little Haiti Park Project.
An independent appraisal established One Hundred and Seventy Thousand Dollars ($170,000) as the fair market
value for the Property. The Department of Economic Development prepared a Purchase and Sale Agreement to
purchase said property for One Hundred Eighty Nine Thousand Seven Hundred and Fifty Dollars ($189,750), with a
deposit of Twenty -Five Thousand Dollars ($25,000). The Purchase Price exceeds the appraised value of One
Hundred Seventy Thousand Dollars ($170,000) by Nineteen Thousand Seven Hundred and Fifty Dollars ($19,750).
It is a condition precedent to the validity of the Purchase and Sale Agreement and its execution by the City Manager
that the City Commission of the City of Miami approve the Purchase and Sale Agreement by a greater majority of a
415ths vote of its members. Failing such approval the Purchase and Sale Agreement shall be automatically null and
void without the necessity of further action by either party.
FINANCIAL IMPACT
There is no impact to the City's General Fund. Total acquisition cost of $215,950 will be provided through
CIP NO. 331412 entitled "Little Haiti Park Land Acquisition and Development."
JAuLMHr C( :mv,:dd: in Purch& Salcl.tIP 79.doc