HomeMy WebLinkAboutSummary FormDate: 12/29/2005
AGENDA ITEM SUMMARY FORM
FILE ID: o s - t t 4 Gt7
Requesting Department: Department of Public Facilities
Commission Meeting Date: 1/26/2006 District Impacted: 5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Declaration as Surplus and Execution of an Agreement for Purchase and Sale for the City -
owned Property Located at 301 SW 1st Street,Miami, FL
Purpose of Item:
Declaring surplus and approving the sale of the City -owned property located at 301 SW 1st Street,
Miami, Florida ("Property") to River Drive Partners, LLC., a Florida Limited Liability Corporation
("Purchaser"), with a purchase price of Eighty -Seven Thousand Dollars ($87,000.00). Further
authorizing the City Manager to execute an Agreement for Purchase and Sale, in substantially the
attached form, and to execute such other documents that 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 has been approached regarding the sale of approximately 1,086 sq. ft. of City -owned
property located at 301 SW 1st Street by Purchaser. Purchaser is in the process of applying for a City
of Miami Class 11 permit for a mixed use high-rise residential condominium project on the adjacent
sites and this Property is desired in connection with such a development. The Property was conveyed
to the City by Miami -Dade County in connection with delinquent taxes under provisions of F.S.
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. Eighty -Seven Thousand Dollars
($87,000.00) or approximately $80.00 per sq. ft. has been established as the amount to be paid to the
City by the Purchaser. 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:
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Continuation....
Subject: Declaration as Surplus and Execution of an Agreement for Purchase and Sale for the City -
owned Property Located at 301 SW 1st Street, Miami, FL
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE)
CIP el /4" Budget
If using or receiving capitalfu :ds
Grants N A- Risk Manageme
Purchasing N Dept. Director
Chief + - City Manager
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