HomeMy WebLinkAboutLegislationCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-01469
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING A SETTLEMENT AGREEMENT REACHED WITH WYNWOOD
COMMUNITY ECONOMIC DEVELOPMENT CORPORATION ("WCEDC"),
RELATING TO THE SALE OF SPECIFIC REAL PROPERTY OWNED BY WCEDC;
AUTHORIZING THE CITY MANAGER TO EXECUTE THE STIPULATION OF
SETTLEMENT, IN SUBSTANTIALLY THE ATTACHED FORM.
WHEREAS, the City of Miami ("City") has been in litigation in various courts with Wynwood
Community Economic Development Corporation ("WCEDC") for over thirteen years; and
WHEREAS, the City seeks to improve the Wynwood community by facilitating the transfer of a
blighted property; and
WHEREAS, the City has code enforcement liens and other interests on property owned by
WCEDC, that might preclude the development of the blighted property; and
WHEREAS, WCEDC has agreed to dismiss all pending suits and release all claims against the
City and its agents or employees and sell the blighted property to a Third Party for development and
share the proceeds of the sale with the City as follows: The first $6.45 million dollars after the
payment of certain specified costs and expenses to WCEDC and all sums in excess of those amounts
divided 55% to WCEDC and 45% to the City; and
WHEREAS, this sale and settlement shall be administered by the United States Bankruptcy Court
for the Southern District of Florida and the proceeds received by WCEDC shall be used by WCEDC
for charitable purposes only;
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 Settlement Agreement reached with WCEDC, relating to the sale of specific real
property owned by WCEDC, is approved.
Section 3. The City Manager is authorized{1 } to execute the Stipulation of Settlement, in
substantially the attached form.
Section 4. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{2}
Ciry of Miami Page 1 of 2 Printed On: 11/28/2007
File Number: 07-01469
APPROVE
S TO FORM AND CORRECTNESS:
A --
JORGE L. F -R IANDEZ
CITY ATTOJNEY �'�'
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.
City of Miami Page 2 of 2 Printed On: 11/28/2007