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Home My WebLink AboutR-04-0635City of Miami Legislation Resolution: R-04-0635 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 04-01050 Final Action Date: 9/23/2004 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BYA FOUR -FIFTHS (4/STHS) AFFIRMATIVE VOTE, AUTHORIZING THE CITY MANAGER TO EXERCISE THE OPTION TO PURCHASE THE PROPERTY LOCATED AT 301 NORTHEAST 62ND STREET, MIAMI, FLORIDA, AS LEGALLY DESCRIBED IN THE OPTION TO PURCHASE REAL PROPERTY AND AN ADDENDUM TO OPTION TO PURCHASE REAL PROPERTY (COLLECTIVELY "OPTION AGREEMENT") BETWEEN THE CITY OF MIAMI AND SOUL HARVEST MIRACLE REVIVAL CENTER, INC., A FLORIDA NOT -FOR -PROFIT CORPORATION, ATTACHED AND INCORPORATED, IN CONNECTION WITH THE DEVELOPMENT OF LITTLE HAITI PARK, WITH A PURCHASE PRICE OF TWO MILLION THREE HUNDRED FIFTY THOUSAND DOLLARS ($2,350,000) AND TO CONSUMMATE SAID TRANSACTION IN ACCORDANCE WITH THE TERMS OF SAID OPTION AGREEMENT; FURTHER ALLOCATING FUNDS IN THE AMOUNT OF $2,405,000, FROM THE $255 MILLION HOMELAND DEFENSE/NEIGHBORHOOD IMPROVEMENT BOND FOR COSTS INCLUDING BUT NOT LIMITED TO SURVEYS, APPRAISALS, ENVIRONMENTAL REPORTS, TITLE INSURANCE, AND OTHER COSTS ASSOCIATED WITH SAID ACQUISITION. WHEREAS, Resolution No. 01-1029, adopted September 25, 2001, directed the City Manager to take all steps necessary to initiate and implement the development of a superlative park in the Little Haiti area ("Park Project"); and WHEREAS, Resolution No. 02-395, adopted April 11, 2002, directed the City Manager to expedite the land acquisition for the Park Project approved in the $255 Million Homeland Defense/Neighborhood Improvement Bond Issue; and WHEREAS, the boundaries for the Park Project as established by the City Commission are from Northeast 59th Street to Northeast 64th Terrace between Northeast 2nd and 4th Avenues, Miami, Florida; and WHEREAS, the property located at 301 Northeast 62nd Street, Miami, Florida ("Property") is within the park boundaries and is necessary as part of the land assembly required for Park Project; and WHEREAS, an independent appraisal was procured and established Two Million Sixty -Five Thousand Dollars ($2,065,000) as the fair market value for the Property; and WHEREAS, the Department of Economic Development prepared, and the City Manager executed, an Option to Purchase Real Property and an Addendum to Option to Purchase Real Property (collectively, the "Option Agreement") to purchase the Property for Two Million Three Hundred Fifty Thousand Dollars ($2,350,000), which includes an option payment of One Thousand City of Miami Page 1 of 3 File Id: 04-01050 (Version: 1) Printed On: 9/30/2016 File Number: 04-01050 Enactment Number: R-04-0635 Dollars ($1,000) (the "Option Payment"); and WHEREAS, the Purchase Price exceeds the appraised value by 13.8%; and WHEREAS, pursuant to Section 166.045 of the Florida Statutes, the Department of Economic Development is in the process of obtaining a second appraisal which is a condition prior to the acquisition of the Property; and WHEREAS, as a condition for the purchase price exceeding the appraised value Soul Harvest Miracle Revival Center, Inc. ("Seller") shall provide the Property free and clear of all tenants, demolish the 66-unit apartment/efficiency building, perform the removal of all debris and/or miscellaneous materials related to the demolition of the 66-unit structure, and cap the sewer line related to the demolition of the apartment/efficiency structure; and WHEREAS, the Option Agreement provides that if the City determines to exercise the option, the City and the Seller shall enter into an escrow agreement and the City shall make a deposit not to exceed Seventy -Five Thousand Dollars ($75,000) ("Deposit") with an escrow agent in order to facilitate and to be used and disbursed solely for such demolition, clearing, and capping of the sewer prior to the closing and that the City shall take a lien on the Property to the extent of the Deposit; and WHEREAS, the Option Agreement also provides that the Option Payment, the Deposit, and the interest thereon shall be credited against the Purchase Price; and WHEREAS, the Seller agrees that if at least (5) five business days prior to closing all conditions precedent to closing are not met, the Purchase Price will be automatically adjusted by Two Hundred Eighty -Five Thousand Dollars ($285,000), a credit in favor of the City; and WHEREAS, it is a condition precedent to the validity of the Option Agreement and its execution by the City Manager that the City Commission of the City of Miami approve the Option Agreement by a greater majority of a 4/5th vote of its members; and WHEREAS, failing such approval the Option Agreement shall be automatically null and void without the necessity of further action by either party; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA; Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. By a four -fifths (4/5ths) affirmative vote, the City Manager is authorized{1} to exercise the option to purchase the Property located at 301 Northeast 62nd Street, Miami, Florida, as legally described in the Option Agreement, in substantially the attached form, between the City of Miami and Soul Harvest Miracle Revival Center, Inc., a Florida Not -For -Profit Corporation, as legally described in "Exhibit A," attached and incorporated, in connection with development of Little Haiti Park, with a total purchase price of Two Million Three Hundred Fifty Thousand Dollars ($2,350,000), and to consummate said transaction in accordance with the terms of said Option Agreement, with funds allocated in the amount of Two Million Four Hundred Five Thousand Dollars ($2,405,000), from the City of Miami Page 2 of 3 File Id: 04-01050 (Version: 1) Printed On: 9/30/2016 File Number: 04-01050 Enactment Number: R-04-0635 $255 Million Homeland Defense/Neighborhood Improvement Bond for costs including but not limited to surveys, appraisals, environmental reports, title insurance and other costs associated with said acquisition. Section 3. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.{2} Footnotes: {1} The herein authorization is further subject to compliance with all requirements that may be imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter and Code provisions. {2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission. City of Miami Page 3 of 3 File Id: 04-01050 (Version: 1) Printed On: 9/30/2016