HomeMy WebLinkAboutcover memoPartnerships far a
N[ MIAMI
To: Honorable Mayor and Members of the City Commission
From: Marva L. Wiley, President/ CEO 1I Vl kuv,
Model City Trust
Subject: Acquisition and Purchase Price Approval
Date: April 9, 2004
RECOMMENDATION:
It is respectfully recommended that the City Commission approve by four -fifths
vote the purchase of the four (4) properties attached at the prices listed fora total
of $265,576.25, subject to available funding.
BACKGROUND:
You will note that one of the properties (MHZ 36) submitted for approval
exceeds the 15% above the average cap authorized by the City Commission and
the Board of Directors. This property was submitted to you previously for
approval though the purchase price was not properly reflected in that approval.
The property is located in the Geographic Phase I area and aids in the
implementation of the master plan in two material respects: first the bend
proposed along 61st Street involves this location and, secondly, the master plan
proposes a series of townhouses for the property. Currently, the property is
occupied with six households. Assessments on those households have been
done to provide necessary information to facilitate the proper relocation of those
families.
The Board and the City Commission approved a second property (MHZ 300)
that is included in this recommendation and no change in purchase price is
proposed here. You may recall that the property was approved with a single
appraisal previously. Because the City Attorney had concerns about whether the
single appraisal was actually brought to the attention of the City Commission, I
am returning to ensure that information is properly brought forward.
The remaining two properties represent new proposed acquisitions that facilitate
the implementation of the master plan. These acquisitions would be prioritized
and fast tracked through the acquisition process because of their relative impact
on the implementation.
As a matter of historical reference, you will recall that the City Commission
executed a policy that requires that each property for acquisition in the Model
City Homeownership Zone project area receive two (2) appraisals on a property
to establish the fair market value of the property. Consistent with the Board's
adoption of the City Commissions policy for land acquisition in Community
Revitalization Districts (Resolution No. 02-678) that was subsequently adopted at
the Board's meeting of July 16, 2002, staff negotiated up to 15% above the
average of the two appraisals.
The appraisers were selected from the City's list of qualified appraisers, which
was established as a result of a formal solicitation process. To ensure expedited
processing of appraisal requests and more favorable pricing for the project, given
the anticipated economies of scale, interested firms from that list were invited to
respond to a closed bid process for a rate schedule to perform appraisals
exclusively for the Model City Homeownership Pilot Project acquisitions.