HomeMy WebLinkAboutR-07-0142City of Miami
Legislation
Resolution: R-07-0142
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00266 Final Action Date: 3/8/2007
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO EXERCISE THE OPTION TO PURCHASE
APPROXIMATELY 6 ACRES OF REAL PROPERTY LOCATED AT 2300
NORTHWEST 14 STREET, MIAMI, FLORIDA, AS DEPICTED ON EXHIBIT "A,"
ATTACHED AND INCORPORATED (THE "PROPERTY"), PURSUANT TO THE
OPTION AGREEMENT FOR SALE AND PURCHASE, DATED JANUARY 26, 2007,
BETWEEN THE MIAMI POLICE BENEVOLENT ASSOCIATION, INC., A FLORIDA
NON -FOR -PROFIT CORPORATION, THE FLORIDA COMMUNITIES TRUST, A
NONREGULATORYAGENCY WITHIN THE DEPARTMENT OF COMMUNITY
AFFAIRS AND THE CITY OF MIAMI ("CITY"), ATTACHED AND INCORPORATED
(THE "OPTION AGREEMENT"), IN CONNECTION WITH THE EXPANSION OF
FERN ISLE PARK, FORATOTAL PURCHASE PRICE OF EIGHT MILLION THREE
HUNDRED AND FIFTY THOUSAND DOLLARS ($8,350,000), AND TO
CONSUMMATE SAID TRANSACTION IN ACCORDANCE WITH THE TERMS OF
THE OPTION AGREEMENT; FURTHER AUTHORIZING THE CITY MANAGER TO
EXECUTE ANY NECESSARY DOCUMENTS TO ACCOMPLISH THE ACQUISITION
OF THE PROPERTY; ALLOCATING FUNDS, IN AN AMOUNT NOT TO EXCEED
TWO MILLION FOUR HUNDRED THOUSAND DOLLARS ($2,400,000), FROM THE
SPECIAL REVENUE FUND ENTITLED "FERN ISLE PARK EXPANSION
PROGRAM," APPROPRIATED TO COVER THE CITY'S PORTION OF THE COSTS
ASSOCIATED WITH SAID ACQUISITION.
WHEREAS, the Department of Parks and Recreation has determined a need to expand the
existing Fern Isle Park to enhance the quality of life for all who visit the neighborhood; and
WHEREAS, a portion of the property located at 2300 Northwest 14 Street, Miami, Florida, which
is adjacent to Fern Isle Park, containing 6 acres of green space (the "Property"), is available for
acquisition; and
WHEREAS, two independent appraisals were procured and established $8,900,000 as the
average fair market value for the Property; and
WHEREAS, the City of Miami ("City") has entered into an Option Agreement for Sale and
Purchase ("Option Agreement") to purchase the Property for Eight Million Three Hundred Fifty
Thousand Dollars ($8,350,000); and
WHEREAS, Resolution No. 06-0675, adopted November 9, 2006, established the special
revenue fund entitled "Fern Isle Park Expansion Program" and appropriated an amount not to exceed
Six Million Six Hundred Thousand Dollars ($6,600,000) for a grant award from the Florida
Communities Trust ("FCT"); and
WHEREAS, the FCT will pay no more than 71.72% of the total project costs which includes
City of Miami
Page 1 of 2 File Id: 07-00266 (Version: 1) Printed On: 3/20/2017
File Number: 07-00266 Enactment Number: R-07-0142
acquisition costs; and
WHEREAS, the City's estimated cost of said acquisition will not exceed Two Million Four Hundred
Thousand Dollars ($2,400,000); and
WHEREAS, it is a condition precedent to the validity of the City's exercise of the option to
purchase the Property pursuant to the Option Agreement that the Miami City Commission approve the
Option Agreement;
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
reference and incorporated as if fully set forth in this Section.
Section 2. The City Manager is authorized{1} to exercise the option to purchase the Property, as
depicted on Exhibit "A," attached and incorporated, pursuant to the Option Agreement for Sale and
Purchase between the City, FCT and the Miami Police Benevolent Association, Inc., a Florida
not -for -profit corporation (the "Option Agreement"), in connection with the expansion of Fern Isle Park,
for a total purchase price of Eight Million Three Hundred and Fifty Thousand Dollars ($8,350,000),
and to consummate said transaction in accordance with the terms of said Option Agreement.
Section 3. The City Manager is further authorized{1} to execute any necessary documents to
accomplish the acquisition of the Property.
Section 4. Funds in the amount of Two Million Four Hundred Thousand Dollars ($2,400,000), are
allocated from the special revenue fund entitled "Fern Isle Park Expansion Program," appropriated to
cover the City's portion of the costs of said acquisition.
Section 5. 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 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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