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Text File Report
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File ID: 04-00096
Enactment #: R-04-0104
Version: 1
Type: Resolution
Introduced: 1/30/04
Status: Passed
Enactment Date: 2/26/04
Controlling Body: City Commission
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BY A
FOUR -FIFTHS (4/STHS) AFFIRMATIVE VOTE, AUTHORIZING THE CITY MANAGER TO
EXERCISE THE OPTION TO PURCHASE REAL PROPERTY LOCATED AT 245 NORTHEAST
59TH STREET, MIAMI, FLORIDA, ("PROPERTY"), AS LEGALLY DESCRIBED IN "EXHIBIT A,"
ATTACHED AND INCORPORATED, IN CONNECTION WITH THE DEVELOPMENT OF LITTLE
HAITI PARK, WITH A PURCHASE PRICE OF $100,000; AUTHORIZING THE CITY MANAGER
TO EXECUTE THE OPTION TO PURCHASE REAL PROPERTY AGREEMENT ("OPTION
AGREEMENT"), IN SUBSTANTIALLY THE ATTACHED FORM, BETWEEN THE CITY OF MIAMI
("CITY") AND THOMAS N. YATES AND KEITH M. YATES ("SELLER") AND TO CONSUMMATE
SAID TRANSACTION IN ACCORDANCE WITH THE TERMS OF THE OPTION AGREEMENT;
ALLOCATING FUNDS, IN THE AMOUNT OF $110,420, FROM THE $255 MILLION HOMELAND
DEFENSE/NEIGHBORHOOD IMPROVEMENT BOND FOR COSTS INCLUDING BUT NOT
LIMITED TO SURVEYS, APPRAISALS, ENVIRONMENTAL REPORTS, TITLE INSURANCE, AND
DEMOLITION.
WHEREAS, Resolution No. 01-1029, adopted September 25, 2001, directed the City Manager to take all steps necessary
to initiate and implement the development of a superlative park in the Little Haiti area ("Park Project"); and
WHEREAS, the boundaries for the Park Project as established by the City Commission are from Northeast 59th Street to
Northeast 64th Terrace between Northeast 2nd Avenue and Northeast 4th Avenue, Miami, Florida; and
WHEREAS, Resolution No. 02-395, adopted April 11, 2002, directed the City Manager to expedite the land acquisition
for the Park Project approved in the $255 Million Homeland Defense/Neighborhood Improvement Hand Issue; and
WHEREAS, the property located at 245 Northeast 59th Street, Miami, Florida ("Property"), is within the Park Project
boundaries and is necessary as part of the land assembly required for the Park Project; and
WHEREAS, an independent appraisal established $65,000 as the fair market value for the Property; and
WHEREAS, the Department of Economic Development prepared, and the City Manager executed, an Option to Purchase
Real Property Agreement ("Option Agreement") to purchase said property for the amount of $100,000, with an option
payment of $100; and
WHEREAS, the Purchase Price exceeds the appraised value of $65,000 by $35,000; and
City of Miami
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