HomeMy WebLinkAboutCRA-R-24-0025Southeast Overtown/Park West
Community Redevelopment Agency
Legislation
CRA Resolution: CRA-R-24-0025
File Number: 15855 Final Action Date:4/11/2024
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
("SEOPW CRA"), WITH ATTACHMENT(S), RETROACTIVELY APPROVING AND
RATIFYING THE EXECUTIVE DIRECTOR'S TO EXECUTE THE PURCHASE
AND SALE AGREEMENT ("AGREEMENT") (EXHIBIT "A") ATTACHED AND
INCORPORATED HEREIN, NEGOTIATE AND EXECUTE ALL NECESSARY
DOCUMENTS, INCLUDING ANY AMENDMENTS AND MODIFICATIONS TO
SAID AGREEMENT IN A FORM ACCEPTABLE TO COUNSEL, BETWEEN THE
SEOPW CRA AND KEEP THE CONGLOMERATE STRONG, INC., A FLORIDA
PROFIT CORPORATION ("SELLER"), FOR THE ACQUISITION OF THE REAL
PROPERTY LOCATED AT 1990 N.W. 4TH COURT, #12, MIAMI, FLORIDA
33136, CONTAINING AN APPROXIMATE TOTAL ADJUSTED AREA OF 1,026
SQUARE FEET ("PROPERTY"), AS LEGALLY DESCRIBED IN THE
AGREEMENT FOR A TOTAL PURCHASE PRICE NOT TO EXCEED TWO
HUNDRED EIGHTY ONE THOUSAND DOLLARS AND ZERO CENTS
($281,000.00), CONTINGENT UPON THE SEOPW CRA OBTAINING A WRITTEN
APPRAISAL FROM A LICENSED FLORIDA APPRAISER STATING THAT THE
APPRAISED VALUE OF THE PROPERTY, IS AT A MINIMUM, THE
REFERENCED AMOUNT HEREIN, PURSUANT TO SECTION 163.370, FLORIDA
STATUTES, AND THE SEOPW CRA REDEVELOPMENT PLAN; ALLOCATING
FUNDS FROM ACCOUNT TITLED PURCHASE OF REAL PROPERTY,
ACCOUNT NUMBER 10050.920101.662000.0000.00000 IN A TOTAL AMOUNT
NOT TO EXCEED TWO HUNDRED EIGHTY ONE THOUSAND DOLLARS AND
ZERO CENTS ($281,000.00) INCLUSIVE OF SAID ACQUISITION, THE COST
OF A SURVEY, ENVIRONMENTAL REPORT, TITLE INSURANCE, AND
RELATED CLOSING COSTS ASSOCIATED WITH SAID ACQUISITION;
PROVIDING FOR THE INCORPORATION OF RECITALS AND AN EFFECTIVE
DATE.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency
("SEOPW CRA") is a community redevelopment agency created pursuant to Chapter 163, Florida
Statutes, and is responsible for carrying out community redevelopment activities and projects within its
Redevelopment Area in accordance with the 2018 Southeast Overtown/Park West Community
Redevelopment Plan Update (the "Plan"); and
WHEREAS, SEOPW CRA wishes to acquire the real property currently owned by Keep
the Conglomerate Strong, Inc., a Florida profit corporation ("Seller") located at 1990 N.W. 4th
Court, #12, Miami, Florida 33136, containing an approximate total adjusted area of square feet
("Property"), as legally described in the Purchase and Sale Agreement ("Agreement"), attached
and incorporated as Exhibit "A", in a form acceptable to Counsel; and
WHEREAS, as legally described in the Agreement for an amount not to exceed Two
Hundred Eighty -One Thousand Dollars and Zero Cents ($281,000.00), the appraised value of the
property (Exhibit "B"); and
City of Miami Page 1 of 2 File ID: 15855 (Revision:) Printed On: 4/25/2024
File ID: 15855 Enactment Number: CRA-R-24-0025
WHEREAS, pursuant to Section 163.370, Florida Statutes, and the Plan, the SEOPW CRA plans
to develop the Property to enhance the quality of life in the surrounding area and address slum and blight;
and
WHEREAS, the proposed acquisition of the Property is consistent with Section 1 of the Plan; and
WHEREAS, the SEOPW CRA's estimated total cost for the acquisition of the Property will not
exceed Two Hundred Eighty -One Thousand Dollars and Zero Cents ($281,000.00), which includes the
cost of acquisition, the cost of a survey, environmental report, title insurance, and related closing costs
associated with said acquisition; and
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
AGENCY:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated herein as if fully set forth in this Section.
Section 2. The Executive Director is authorized to negotiate and execute the Agreement,
in a form acceptable to Counsel, between the SEOPW CRA and the Seller for the acquisition of the
Property for a total purchase price not to exceed Two Hundred Eighty -One Thousand Dollars and Zero
Cents ($281,000.00), contingent upon the SEOPW CRA obtaining a written appraisal from a licensed
Florida appraiser stating that the appraised value is at a minimum the referenced amount herein.
Section 3. The Executive Director is further authorized to negotiate and execute any and all
necessary documents, including any amendments and modifications to said Agreement, all in forms
acceptable to Counsel, as may be necessary to effectuate said acquisition, with funds allocated from
account number 10050.920101.662000.0000.00000, to cover the cost of said acquisition, plus the cost of
a survey, environmental report, title insurance, and related closing costs associated with said acquisition,
in accordance with the terms and conditions of the Agreement.
Section 4. The Executive Director shall issue a report on the status of this potential
acquisition within 14 days of the passage of this resolution.
Section 5. The SEOPW CRA will engage the Weiss Serota, et al., law firm for the
representation of the SEOPW CRA on all matters related to a title commitment and policy, a Phase I
Environmental Site Assessment Report (and Phase II if required), a survey, and representation at closing.
Section 6. This Resolution shall be effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
ounsel 4/4/2024
City of Miami
Page 2 of 2 File ID: 15855 (Revision:) Printed on: 4/25/2024