HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-07-0372
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00892
Version: 1
File Name: Progressive Vision- Second Amendment
File Type: Resolution Status: Passed
Reference: Controlling Body: Office of the City
Clerk
Introduced: 6/27/2007
Requester: District 4- Commissioner Cost: Final Action: 6/28/2007
Tomas Regalado
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING
THE CITY MANAGER TO EXECUTE THE SECOND AMENDMENT AND CONSENT TO
ASSIGNMENT OF PURCHASE AND SALE AGREEMENT, IN SUBSTANTIALLY THE ATTACHED
FORM, OF THE CITY OF MIAMI ("CITY") OWNED REAL PROPERTY LOCATED AT 779
NORTHWEST 57TH STREET, MIAMI FLORIDA, BETWEEN THE CITY AND PROGRESSIVE
VISION COMMUNITY DEVELOPMENT CORPORATION, INC., A FLORIDA NOT -FOR -PROFIT
CORPORATION ("PROGRESSIVE"), TO: (1) AUTHORIZE THE ASSIGNMENT OF
PROGRESSIVE'S RIGHTS AND OBLIGATIONS UNDER THE AGREEMENT TO A NEW ENTITY,
WHOSE MEMBERS SHALL BE SOLELY PROGRESSIVE, AND PALMETTO HOMES OF MIAMI,
INC., IN ORDER TO COMPLY WITH THE FINANCING REQUIREMENTS SET FORTH IN THE
LOAN COMMITMENT DATED JUNE 14, 2007, FROM GIBRALTAR PRIVATE BANK & TRUST
COMPANY, AND (2) EXTEND THE DEADLINE FOR SATISFACTION OF CONDITIONS
PRECEDENT BY A PERIOD OF SEVENTY (70) DAYS, EXPIRING ON SEPTEMBER 7, 2007,
WITH THE TERMS AND CONDITIONS MORE PARTICULARLY SET FORTH IN SAID SECOND
AMENDMENT.
Sponsors:
Notes:
Indexes:
Attachments: 07-00892 Legislation.pdf,07-00892 Exhibit.pdf,
History of Legislative File
Version: Acting Body: Date: Action: Sent To: Due Date: Return Date: Result:
1 City Commission 6/28/2007 ADOPTED Pass
1 Office of the Mayor 7/10/2007 Signed by the Mayor Office of the City
Clerk
1 Office of the City Clerk 7/10/2007 Signed and Attested
by City Clerk
1 Office of the City 9/6/2007 Reviewed and
Attorney Approved
City ofMiami Page 1 Printed on 4/4/2017