HomeMy WebLinkAboutsummary formAGENDA ITEM SUMMARY FORM
FILE ID:
Date: 5/25/2005
DS- 00 544
Requesting Department: Economic Development
Commission Meeting Date: 6/23/2005 District Impacted: 2
Type: ® Resolution ❑ Ordinance 0 Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Authorizing the City Manager to execute a Release, Discharge and Waiver of Reverter for a
portion of NE 20th Street from Margaret Pace Park West to Biscayne Boulevard, Miami, Florida.
Purpose of Item:
A Resolution authorizing the City Manager to execute a Release, Discharge and Waiver of Reverter
(the "Reverter Release") for a portion of NE 20th Street from Margaret Pace Park West to Biscayne
Boulevard, Miami, Florida (the "Property"), as legally described in the Reverter Release, in
connection with the development of a project in the Omni Community Redevelopment Area.
Background Information:
In 2001, the City of Miami approved Resolution No. 01-1127, which authorized the City Manager to
issue a deed, containing certain restrictions and conditions conveying a portion of Northeast 20th
Street from Margaret Pace Park west to Biscayne Boulevard (the "Property") to the City of Miami
Omni Community Redevelopment Agency ("CRA Omni") for the purpose of inducing economic
development in the area. The CRA Omni conveyed the Property to Finger Biscayne, LLC., a Florida
limited liability corporation ("Finger Biscayne") containing the same restrictions and conditions as
included in the City's deed to CRA Omni. Finger Biscayne has requested that the City release its
reverter on the Property as the conditions on the deed have been fulfilled. The Building, Planning and
Zoning Departments have confirmed that the developer has satisfied and complied with all conditions
of the City of Miami Resolution #01-1127 and the deed. Finger Biscayne has released all legal rights,
title and interest in Margaret Pace Park pursuant to certain Release dated March 4, 2002 and recorded
in the Public Records of Miami -Dade County, Florida.
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE1
Pace 1 of 2
Subject: Authorization for City Manager to execute a Release, Discharge and Waiver of Reverter for a
portion of NB 20th Street from Margaret Pace Park West to Biscayne Boulevard, Miami, Florida.
CIP N J fr Budget h J 4
If using or receiving capital funds
Grants 1J Risk Manage
Purchasing O ) Dept. Direct()
Chie Iry City Manager
Paee 2 of 2