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Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.ci.miami.ti.us
File Number: 06-00775
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
RESCINDING RESOLUTION NO. 05-0423, ADOPTED JULY 7, 2005, RELATING
TO THE CONVEYANCE OF LAND, LEGALLY DESCRIBED IN EXHIBIT "A,"
ATTACHED AND INCORPORATED ("PROPERTY"), TO ROCKWOOD
PROPERTIES, LLC ("ROCKWOOD"), FOR THE DEVELOPMENT OF FORTY (40)
SINGLE FAMILY AFFORDABLE UNITS FOR ELIGIBLE LOW INCOME PERSONS
("PROJECT"); TERMINATING THE PURCHASE AND SALE AGREEMENT, DATED
NOVEMBER 17, 2005, BETWEEN THE CITY OF MIAMI ("CITY") AND
ROCKWOOD, AND DOCUMENTS RELATING TO SUCH PROPERTY AND
PROJECT; AUTHORIZING A PAYMENT TO ROCKWOOD IN THE AMOUNT OF
$325,000, FROM THE PROJECT BUDGET, IN REIMBURSEMENT OF COSTS
EXPENDED 1N CONNECTION WITH THE PROJECT, CONDITIONED UPON THE
CITY'S RECEIPT OF A GENERAL RELEASE AND SUCH OTHER DOCUMENTS
FROM ROCKWOOD AS MAY BE REQUIRED BY THE CITY ATTORNEY, ALL
SUCH DOCUMENTS TO BE IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY; REQUIRING THAT ANY FUTURE CONVEYANCE OF THE
PROPERTY BE CONDITIONED UPON THE DEVELOPER/GRANTEE'S
ASSUMPTION AND REPAYMENT TO THE CITY OF THE CITY'S TOTAL
INVESTMENT IN THE PROJECT AND THE PROPERTY; AUTHORIZING THE
CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENT(S) FOR SAID
PURPOSE.
WHEREAS, pursuant to Resolution No. 05-0423, adopted July 7, 2005 the City Commission
approved the conveyance of certain parcels of land, as described in Exhibit "A" ("Property"), to
Rockwood Properties, LLC ("Rockwood"), for the development of forty (40) single family affordable
units, twenty-one (21), to be subsidized by the City of Miami ("City") for low income persons ("Project");
WHEREAS, due to lack of Project financing and feasibility, the Administration and Rockwood
have agreed to terminate the Purchase and Sale Agreement, dated November 17, 2005, between the
City and Rockwood and all other documents relating to such Property and Project; and
WHEREAS, Rockwood and B.A.M.E. (the prior owner/developer of the Project) have incurred
$1,650,506.60, in costs in connection with the Project; and
WHEREAS, it is in the best interests of the City to condition any future conveyance of the
Property upon the developer/grantee's assumption and repayment to the City of the City's total
investment in the Project and the Property;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
City of Miami
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File Number: 06-00775
reference and incorporated as if fully set forth in this Section.
Section 2. Resolution No. 05-0423, adopted July 7, 2005, relating to the conveyance of the
Property, legally described in Exhibit "A," attached and incorporated, to Rockwood, for the
development of forty (40) single family affordable units for eligible low income persons is rescinded.
Section 3. The Purchase and SaleAgreementhe Project,, dated November 17, 2005, and the City and Rockwood, anyother
terminated.h
documents relating to the Property and ) ,
Section 4. A payment to Rockwood in the amount of $325,000, from the Project Budget, in
reimbursement of costs expended in connection with the Project, conditioned upon the City's receipt of
a general release and such other documents, from Rockwood, as may be required by the City
Attorney, all such documents to be in a form acceptable to the .City Attorney, is authorized.
Section 5. Any future conveyance of the Property to another developer shall be conditioned upon
the developer's assumption and repayment to the City of the City's total investment in the Project and
the Property.
Section 6. The City Manager is authorized {1} to execute all necessary document(s) for said
purpose.
Section 7. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor {2).
APPROVED AS TO FORM AND CORRECTNESS:
JORGE L. FERNANDEZ
CITY ATTORNEY
Footnotes:
{1}
The herein authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including but not limited to those prescribed by applicable City
Charter and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10)
calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it
shall become effective immediately upon override of the veto by the City Commission.
City of Miami
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