HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FQRM
FILE ID: d 6 - dd 1451
Date: 3/15/2006 Requesting Department: Public Facilities
Commission Meeting Date: 4/6/2006 District Impacted: 2
Type: ® Resolution ❑ Ordinance n Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Easement and Purchase and Sale Agreement between the City of Miami and Biscayne
Bay Yacht Club.
Purpose of Item:
A Resolution of the City of Miami Commission, authorizing the City Manager to execute a
Submerged Land Easement Agreement ("Easement"), in substantially the form attached, with
Biscayne Bay Yacht Club, a non-profit corporation ("Grantee"), to provide for Grantee's use of
approximately 3.085 acres of City -owned submerged land located waterward of 2540 South Bayshore
Drive, Miami, Florida ("Grantee's Property") for marina purposes, providing for payment by Grantee
of the amount of $880,000.00 in consideration for the Easement, with terms as more particularly set
forth in the Easement; authorizing the City Manager to execute a Purchase and Sale Agreement
("Purchase and Sale Agreement"), in substantially the form attached, with Grantee for the City's
purchase of a 22 ft. strip (approximately 6,014 SF) of Grantee's Property fronting on South Bayshore
Drive for the amount of $396,760.00, which amount shall be paid from proceeds from the Easement;
authorizing the City Manager to execute all necessary documents in connection with the Purchase and
Sale Agreement.
Background Information:
See attached.
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:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE),i
CIP UT+ Budget c � + �---:� 314,104,
If using or receiving capital f s
Grants ►� Risk Management
Purchasing N Dept. Director
Chief `4.. ` r City Manager
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Subject: Easement and Purchase and Sale Agreement between the City of Miami and Biscayne
Bay Yacht Club.
Background Information:
The Biscayne Bay Yacht Club ("Grantee") has been occupying the submerged lands adjacent to its
property at 2540 South Bayshore Drive for several years. The last lease between the City and Grantee
expired on May 12, 1996 and the Grantee has continued to occupy the property on a month -to -month
basis as a tenant -at -will.
At this time, the City would like to enter into an Easement Agreement with Grantee to provide for its
continued use of 3,085 acres of submerged lands so long as it owns its upland property. Grantee has
agreed to pay a one-time payment of $880,000.00 ($6.55 per SF) for this privilege, which amount
represents the highest appraised value of the fee simple ownership of the submerged land. Given the
Grantee's ownership of the upland, it would be the only possible bidder of the submerged land.
Simultaneous with this transaction, the City would like to purchase a 22' strip (6,014 SF) of the
Grantee's property fronting South Bayshore Drive for a purchase price of $396,760.00 ($65 per SF),
which amount represents the highest appraised value for the fee simple ownership of this upland.
This acquisition is intended to facilitate implementation of a pedestrian walkway to connect Kennedy
Park to the Dinner Key area.
The respective purchase price and easement consideration was established as fair market value based
upon two appraisals performed by Joseph J. Blake and Associates and J. Mark Quinlivan. Both the
effectuation of the Submerged Land Easement Agreement and Purchase and Sale Agreements are
conditioned upon the Easement Agreement being approved by the State of Florida, Board of Trustees
of the Internal Improvement Trust Fund. Should the State require the payment of any fee or other
consideration for State approval, the parties shall negotiate a mutually acceptable payment of the fee.
This item was presented to and recommended for City Commission approval by the Waterfront Board
at their March 14, 2006 meeting, However, the Waterfront Board also presented a resolution which
passed unanimously recommending that the City Commission spend the proceeds of the Easement
Agreement on the implementation of the Coconut Grove Waterfront Master Plan.
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