HomeMy WebLinkAboutR-06-0284City of Miami
Legislation
Resolution: R-06-0284
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 06-00775 Final Action Date: 5/11/2006
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 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; 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
Page 1 of 2 File Id: 06-00775 (Version: 1) Printed On: 1/24/2017
File Number: 06-00775 Enactment Number: R-06-0284
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 Sale Agreement, dated November 17, 2005, and any other
documents relating to the Property and the Project, between the City and Rockwood, are terminated.
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}.
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.
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