HomeMy WebLinkAboutCRA-R-05-0007 BACKUP DOCUMENTATIONCommunity Redevelopment Agency
BAYVIEW TOWERS
Fee Simple Land Acquisition Proposal
History
Item #
1
Date
2/3/2003
Item
Letter of Inquiry from CF Properties
Corp.
Particulars
Letter indicating desire of CF Properties to
purchase the CRA's interest in the 99 year
ground lease which encumbers the Towers
of Park West.
2
3
4
5
3/25/2003
6/2/2004
6/8/2004
8/25/2004
Informal Proposal from CF
Properties Corp.
Counter Proposal from CRA to CF
Properties Corp.
Revised Proposal from CF
Properties Corp.
Counter Proposal from CRA to CF
Properties Corp.
1. $400,000 purchase price
2. No prorations
3. Offer to pay doc stamps, surtax on
instrument of conveyance cost of evidence
of title, title insurance, recording instrument
of conveyance and any surveys
1. $1,125,000 purchase price
2. All incidental costs not to exceed $25,000
3. All closing costs
4. 5% of all gross sales of each unit sold
1. $1,175,000 purchase price
2. All incidental costs not to exceed $25,000
3. All closing costs
4. Removal of 5% of all gross sales of each
unit sold
1. $2,000,000 purchase price
2. All incidental costs not to exceed $25,000
paid by Bayview
3. All closing costs paid by Bayview
4. 5% of all gross sales of each unit sold
5. $50,000 for 9th Street Mall Improvements
between North Miami Avenue & NW 1
Avenue
6. $100,000 for extension of 9th Street Mall
west of 1st Avenue by Bayview
1
Item #
5 (cont'd)
6
Date
10/4/2004
7 1/12/2005
Item
Revised Proposal from CF
Properties Corp.
Accepted offer between CF
Properties Corp. and CRA
Particulars
7. Responsible for 9th Street Mall
Maintenance between North Miami Avenue
& NW 1st Avenue by Bayview by its sole
cost and expense
1. $2,650,000 purchase price
2. All incidental costs not to exceed $25,000
paid by Bayview
3. All closing costs paid by Bayview
4. Removal of 5% of all gross sales of each
unit sold
5. $150,000 for 9th Street Mall
Improvements between North Miami Avenue
& NW 1st Avenue by Bayview
6. $150,000 ($30,000 per year for 5 years)
for maintenance of the entire 9th Street Mali
1. CRA receives $500,000 at closing
2. CRA receives additional $2.1 million no
later than 24 months from closing-- or the
remaining balance due crediting all 7%
closing payments to the CRA received
between the closing and the 24 months.
3. CRA will receive 7% of gross sales as
they occur on all 355 units (projection of
$4.2 million) of which the $2.1 million in item
#2, above, is a portion.
4. CRA will receive $300,000 for the
improvement/renovation of the portion of the
9th Street Pedestrian Mali located between
North Miami Avenue & NW 1st Avenue.
Said $300,000 shall be reimbursed to CF
Properties Corp. or directly to vendors
approved by the Executive Director as work
is performed.
5. All incidental costs not to exceed $25,000
paid by CF Properties Corp.
6. All closing costs paid by CF Properties
Corp.
2
Community Redevelopment Agency
Marked Agenda November 15, 2004
9 04-01271 CRA RESOLUTION
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY
("CRA") DIRECTING THE EXECUTIVE DIRECTOR TO ISSUE NOTICE OF
DISPOSITION AND REQUEST FOR PROPOSALS, IN ACCORDANCE WITH
FLORIDA STATUTES SECTION 163,380, WITHIN THIRTY {30) DAYS FOR
THE CRA PROPERTY IN OVERTOWN AT 800 NORTH MIAMI AVENUE,
MIAMI-DADE COUNTY, FLORIDA (FOLIO # 01-0130-070-1010) WHICH
DISPOSITION IS SUBJECT TO THAT CERTAIN SOUTHEAST
OVERTOWN/PARK WEST LEASE AND DEVELOPMENT AGREEMENT BY
AND BETWEEN PARK WEST, LTD. AND THE CITY OF MIAMI DATED JUNE
15, 1988, AND FURTHER DIRECTING THE EXECUTIVE DIRECTOR TO
REVIEW ALL PROPOSALS RECEIVED IN RESPONSE TO THE NOTICE AND
REQUEST FOR PROPOSALS AND BRING A RECOMMENDATION TO THE
BOARD OF DIRECTORS FOR ITS CONSIDERATION.
CRA-R-04-0021
MOVED: Tomas Regalado
SECONDED:
Jeffery L. Allen
Motion that this matter be ADOPTED PASSED by the following vote.
AYES:
Board Member Gonzalez, Board Member Regalado, Vice Chairman Allen
and Chairman Winton
ABSENT: Board Member Sanchez
Note for the Record: Board Member Regalado suggested that the Executive Director to
meet with the Clty's Park Director and to explore the enhancement of Gibson Park using
some of these funds for the enhancement of Gibson Park and if and when the CRA does
acquire the funds, he can bring it back as one of the options to the Board; Vice Chairman
Allen further suggested that the CRA should do a quantitative analysis as to any projected
income coming from the potential conversion and sale of this property and further to do a
prelimanary quatitative analysis to determine financial projects of what they can receive
versus the yearly amounts that were previously In place,
CITY OF MIAMI OFFICE OF THE CITY CLERK
BID SECURITY LIST
BID ITEM: CRA RFP for property located at 75 NW 8th Street
DATE BID OPENED: December 30, 2004
TIME :
11:30 AM
BIDDER
TOTAL BID
BID BOND (ER)
AMOUNT
CASHIER'S CHECK
NO PROPOSALS RECEIVED
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Today's Date
SOUTHEAST OVERTOWN