HomeMy WebLinkAboutCRA-R-08-0026City of Miami
Legislation
CRA Resolution: CRA-R-08-0026
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-00466a Final Action Date: 4/28/2008
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY,
AUTHORIZING TRANSFER OF TITLE TO THE PROPERTY AT 1163 NW 3
AVENUE, MIAMI FL., FOLIO NUMBER 01-3136-037-0530. IN ACCORDANCE WITH
THE GRANTOR'S RIGHT TO REPURCHASE SET FORTH IN THE DEED
RECORDED IN THE OFFICIAL RECORDS OF MIAMI DADE COUNTY AT BOOK
19516 PAGE 3891. THE EXECUTIVE DIRECTOR IS AUTHORIZED TO EXECUTE
ALL DOCUMENTS NECESSARY FOR SAID PURPOSE.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA")
is responsible for carrying out community redevelopment activities and projects in accordance with its
Redevelopment Plan; and
WHEREAS, on January 10, 2001, the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") and Greater Miami Neighborhoods, Inc. ("GMN") entered into an
agreement whereby the CRA granted GMN funds for the purchase of the property at 1163 N.W. 3rd
Avenue, and GMN agreed to develop the property for the benefit of the CRA; and
WHEREAS, the deed transferring the property to GMN provided that the grantor had the right
to repurchase the property at the higher of the original purchase price or its appraised value at the
time of repurchase; and
WHEREAS, Greater Miami Neighborhoods Inc. ("GMN") was unable to develop the property
and the CRA brought suit against GMN on November 14, 2007 for breach of contract, imposition of
an equitable lien, and to establish that the property was being held in a constructive trust; and
WHEREAS, the Board of Commissioners, by resolution number CRA-R-08-0003, passed and
adopted on January 28, 2008, authorized a settlement agreement settling all claims and transferring
title to the property to the CRA subject to the grantor's right to repurchase; and
WHEREAS, the grantor timely notified the CRA of the its intention to exercise the right to
repurchase; and
WHEREAS, an appraisal has been obtained in the amount of $140,000 which is in excess of
the original purchase price; and
WHEREAS, the Board of Commissioners wishes to authorize the Executive Director to the
transfer title to the property in accordance with the grantor's right to repurchase; and
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF MIAMI, FLORIDA:
City of Miami Page 1 of 2 File Id: 08-00466a (Version: 11 Printed On: 1/3/2023
File Number: 08-00466a Enactment Number: CRA-R-08-0026
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated herein as if fully set forth in this Section.
Section 2. Transfer of title to the property at 1163 NW 3 avenue, Miami FI., folio number 01-
3136-037-0530. In accordance with the grantor's right to repurchase set forth in the deed recorded in
the official records of Miami Dade County at Book 19516 Page 3891 is hereby authorized. The
Executive Director is authorized to execute all documents necessary for said purpose.
Section 3. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 08-00466a (Version: 11 Printed On: 1/3/2023