HomeMy WebLinkAboutAgenda Summary Attachment SUBSALE OF TWO CITY OWNED PROPERTIES
AGENDA SUMMARY ATTACHMENT
Background Information;
O Model City Community Revitalization District Trust was established by the City Commission on July 10, 2001
pursuant to Ordinance Number 12082 to revitalize the Liberty City Area
G As part of the revitalization effort, the Trust purchased from private owners and/or properties were transferred
to the Trust from the City of Miami's vacant land inventory to be developed and sold to low income families in
the Liberty City Area
O On October 15, 2003, the property located at 1632 NW 59 Street was purchased and rehabilitated
• On February 14, 2005, the property located at 1446 NW 61 Street was deeded from the City of Miami to the
Trust for the construction of a new affordable home
• On October 30, 2006 the Board of the Model City Community Revitalization District Trust authorized the City
Manager to execute a Quit Claim Deed for all properties owned by the Trust to the City of Miami
O On January 24, 2007, the City Manger executed a Quit Claim Deed on behalf of the Model City Trust
transferring the properties to the City of Miami
Both Ms Jacqueline Willis and Ms Katonya Mincey, certified low income individuals, have expressed the desire
to purchase the properties at 1632 NW 59 Street for $165,000 and 1446 NW 61 Street for $140,000 Street
respectively
• All proceeds of the sale will go Liberty City Trust fund
O The properties must remain owner -occupied for a period of thirty (30) years
• In the case of sale or transfer of the property, the borrower will be required to sell the home to an income
eligible borrower approved by the City at a price not to exceed the maximum allowable purchase price
approved by the City Commission in existence at the time of sale
6 The Administration recommends the sale of two City of Miami owned properties located at 1632. NW 59 Street
Miami, Florida and 1446 NW 61 Street; Miami, Florida to the individuals specified in Exhibit A, attached and
incorporated
07 - 0,030P
TH7,.....".
S L° .s .r8{ w �a is o - _ p ... ' .ate !f
� -. +..� au�` R
8St +4 /ION TO
E.) j1 r CAN
7qq+,
;' ✓f �' `b: .� '4.f_-mkR` I$r v. 'lr� . m..R� $ 4,� '..-IL. ei �i18 cH
SEEN
L6mmo �.�mrm� L At� tl�R � 4 a � MO
F.
,
n 8 '� '1q� �— y'��k YwanM � ry � A., r-r-'9
SALE OF TWO (;1TY OWNL[) PROPERTIES
S
AGENDA SUMMARY ATTACHMENT
Back round lnformat ,'n:
• Model City Communit evitalization District Trust was established by the City Commission on July 10, 2001
pursuant to Ordinance mber 12082 to revitalize the Liberty City Area
• As part of the revitalization ort, the Trust purchased from private owners and/or properties were transferred
to the Trust from the City of M is vacant land inventory to be developed and sold to low income families in
the Liberty City Area
• On October 15, 2003, the property I• ated at 1632 NW 59 Street was purchased and rehabilitated
• On February 14, 2005, the property loca 'd at 1446 NW 61 Street was deeded from the City of Miami to the
Trust for the construction of a new affordae home
• On October 30, 2006 the Board of the Model Community Revitalization District Trust authorized the City
Manager to execute a Quite. Claim Deed for all p '.erties owned by the Trust to the City of Miami
o On January 24, 2007, the City Manger executed a Q •te Claim Deed on behalf of the Model City Trust
transferring the properties to the City of Miami
• Both Ms Jacqueline Willis and Ms Katonya Mincey, certifiee ow income individuals, have expressed the desire
to purchase the properties at 1632 NW 59 Street for $165,00► and 1446 NW 61 Street for $140,000 Street
respectively
• All proceeds of the sale will go Liberty City Trust fund
G The properties must remain owner -occupied for a period of thirty (30) y=.rs
• In the case of sale or transfer of the property, the borrower will be required ' sell the home to an income
eligible borrower approved by the City at a price not to exceed the maximum . towable purchase price
approved by the City Commission in existence at the time of sale
• The Administration recommends the sale of two City of Miami owned properties toced at 1632 NW 59 Street
Miami, Florida and 1446 NW 61 Street; Miami, Florida to the individuals specified in hibit A, attached and
incorporated
SU
TE