HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID:
o-cosX P H . 7
Date: 07/30/08 Requesting Department: Community Development
Commission Meeting Date: 09/11/08 District Impacted:
Type: ® Resolution ❑ Ordinance n Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Sale of a City -owned property located at 1436 NW 61 Street, Miami, Florida.
Purpose of Item:
APPROVING THE SALE OF A CERTAIN CITY OF MIAMI ("CITY") OWNED PROPERTY, TO THE
INDIVIDUAL , AS SPECIFIED IN EXHIBIT "A," ATTACHED AND INCORPORATED; AUTHORIZING
THE CITY MANAGER TO EXECUTE A REAL ESTATE PURCHASE AND SALE AGREEMENT, IN
SUBSTANTIALLY THE ATTACHED FORM AND TO EXECUTE SUCH OTHER DOCUMENTS AS
MAY BE NECESSARY TO CONSUMMATE SUCH TRANSACTION IN ACCORDANCE WITH THE
TERMS AND CONDITIONS OF THE AGREEMENT, WHICH TERMS MAY BE AMENDED BY THE
CITY MANAGER AS MAY BE NECESSARY IN ORDER TO MEET THE BEST INTERESTS OF THE
CITY.
Background Information:
Please see attached.
Budget Impact Analysis
Is this item related to revenue?
Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Dept. Director
Chief City Manager,
Final Approvals
(SIGN AND DATE)
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No. 07-0305, adopted June 12, 2007, the Miami City Commission approved
the sale of the property specified in Exhibit "A" to Tymara Goldin.
Due to the lost of subsidy, Tymara Coldin does not meet qualification for the purchase of the
aforementioned property.
Maureen AlIon, a new homebuyer, has expressed the desire to purchase said property.
The Department of Community Development has reviewed Maureen Allon's household income, and
certifies that she is within 80% of the area median income qualifying the homebuyer as a low income
household.
The following conditions have been put in place for the purchase of said property:
1. The property must remain owner -occupied for 30 years.
2. 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.