HomeMy WebLinkAboutsummary formAGENDA ITEM SUMMARY FORM
FILE ID: O S GO I
Date: 6/6/2005 Requesting Department: Economic Development
Commission Meeting Date: 7 17 /a G05 District Impacted: 1
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Declaration as Surplus, and Execution of a Purchase and Sale Agreement for 1360 NW 8th
Court, Miami, FL
Purpose of Item:
A Resolution declaring surplus and approving the sale of the City -owned property located at 1360
Northwest 8th Court, Miami, Florida ("Property"), to MKJ Realty, a Limited Liability Corporation of
the State of Florida ("Purchaser"); establishing Eighty -Five Thousand Dollars ($85,000.00) as the
amount to be paid to the City of Miami by the aforementioned; further authorizing the City Manager
to execute a purchase and sale agreement, and to execute such other documents as may be necessary
to consummate such transaction in accordance with the terms and conditions of the agreement, which
terms may be amended by the City Manager as may be necessary in order to meet the best interests of
the City.
Background Information:
The City of Miami ("City") has been approached by MKJ Realty, a Limited Liability Corporation of
the State of Florida, ("Purchaser") regarding their interest in the purchase of 2,903 square feet of City -
owned property located at 1360 Northwest 8th Court. Purchaser is the owner of the adjacent parcel,
and this Property is desired to be combined with such parcel. The Property was conveyed to the City
by Miami -Dade County in connection with delinquent taxes under provisions of Florida Statute
Section 197.592, as amended. Currently the Property sits vacant, represents a maintenance cost and
liability to the City, and does not generate ad valorem taxes. A purchase price of Eighty -Five
Thousand Dollars ($85,000.00) or Twenty Nine Dollars and Twenty Eight Cents ($29.28) per square
foot is to be paid by the Purchaser to the City. Section 29B of the City of Miami Charter provides an
exemption from the competitive bidding requirements and return of fair market value when disposing
of City -owned property acquired in connection with delinquent taxes. The property will be conveyed
"as is" and "where is" and the City will not warrant the sufficiency of its title nor any interest it may
have in the property.
Budget Impact Analysis
YES 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:
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Subject: Declaration as Surplus, and Execution of a Purchase and Sale Agreement for 1360 NW 8tn
Court, Miami, FL
Final Approvals
(SIGN AND DATE)
CIP Budget
If using or receiving capital funds
Grants Risk Manageme
Purchasin Dept. Direct Mira .irnarM
.:
Chief City Manager t` '
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