HomeMy WebLinkAboutSummary FormDate: 8/25/2011 '
FILE ID:
AGENDA ITEM SUMMARY.FORM
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Requesting Department: Public Facilities/Asset Management
Conunission Meeting Date: 9/15/2011 District Impacted: 2
Type: Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Resolution for the purchase of the property located at 457-485 NE 77 Street Road, Miami, FL
Purpose of Item:
Law Department
Matter ID No.
11-1634
A Resolution of the Miami City Commission, with attachment(s), authorizing the City Manager to
execute a Purchase and Sale Agreement ("Agreement"), in substantially the attached form, between
the City of Miami and Manatee Bend, LLC, A Florida Limited Liability Company, for the acquisition
of the property located at 457-485 NE 77 Street Road, Miami, Florida ("Property'), as legally
described in the agreement in connection with the development of the Little River Waterfront Park for
the total purchase price ofFive Hundred Ninety Thousand Dollars ($590,000), and to consummate the
transaction in accordance with the terms of the agreement, further allocating funds in a total amount
not to exceed Six Hundred Thousand Dollars ($600,000), One Hundred Seventeen Thousand Five
Hundred Dollars ($1.17,500) to be provided by the Florida Inland Navigation District and Four
Hundred Eighty Two Thousand Five Hundred Dollars ($482,500) to be used from the Biscayne
Bay/Miami River Land Acquisition Trust Fund, to cover the costs associated with the acquisition
including but not limited to survey, environmental report, and title insurance; further authorizing the
City Manager. to execute any necessary documents, in a form acceptable to the City Attorney, to
accomplish the acquisition of the property.'
Background Information:
Budget Impact Analysis
NO Is this item related to revenue?
YES Is:this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No: 13-50722 •
NO This item is not funded by Homeland Defense/Neighborhood Improvement Bonds.
See Supplemental Sheet
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
River Land:Acquisition Fund) Special
CIP N/A
$600,000 ($117,500 FIND Grants & $482,500 from Biscay= Bav/Miami
Revenue Contribution to Capi� -50722
Final Approvals
(SIGN AND DATES
If using or recei ' �IDtl •! `funds
Grants
Purchasing N/A
Chieflire
, S / -s �11' /
Budget _ ii..
Risk Managem n. / i
Dept. Director. //f��'
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Subject:. Resolution for the purchase of the property located at 457-485 NE 77 Street Road, Miami, FL
Background Information:
It is in the best interest of the City to establish a public park to meet the existing needs for
parks, open space and. conservation .in. the. Upper_ East Side neighborhood area. The property located
at 457-485 NE 77 Street Road, Miami, Florida ("Property") is vacant and available, and is suitable for
the purposes of establishing a riverfront park.
Pursuant to Resolution No. 11-0118, adopted March 2, 2011, the City Commission authorized
the application of a grant from the Florida Inland Navigation District ("FIND") and authorized the
allocation of the City's required matching funds for the Little River Waterfront Park Acquisition Trust
Fund Special Revenue Contributions to Capital B-50722
The City Manager is authorized to execute a Restrictive Covenant with FIND, in a form
acceptable to the City Attorney, encumbering the property for a period of twenty-five years from the
date of recordation, as required of the Florida Inland Navigation District Award agreement. The
Restrictive Covenant may include but not limited to, that the primary use of the property shall be
either for a public boat, canoe or kayak launching facility along the entire river frontage
A Resolution is to be adopted by the City Commission on September 15, 2011, to allocate
funds from Capital Improvement Project No. B-50722 funded by the Biscayne Bay/Miami River Land
Acquisition Trust Fund, for the acquisition and improvements of Little River Waterfront Park; and.
The City of Miami ("City") has approximately $1.5 million in funding set aside from the
Biscayne Bay/Miami River Land Acquisition Trust Fund, that can only be used to buy waterfront or
riverfront land with the approval of the Florida Board of Trustees. On May 11, 2010, the Board of
Trustees of the Internal Improvement Trust Fund of the State of Florida, met and approved the use,of
the funds for the acquisition of the Property. $600,000 will be transferred from Special Revenue Fund
10400, the Bayfront Riverfront Land Trust Project 32-699084 to the Capital Fund Project B-50722
Little River Waterfront Park (Bayfront and Riverfront).
On May 11, 2010, the Board of Trustees of the Internal Improvement Trust Fund of the State
of Florida, met and approved the use of the funds for the acquisition of the Property. Two
independent appraisal where procured and established Five Hundred Ninety Thousand Dollars
($590,000) as the fair market value for the Property.
The Department of Public Facilities has prepared a Purchase and Sale Agreement to purchase
said property for Five Hundred Ninety Thousand Dollars ($590,000). Purchase and Sale Agreement
is contingent on funding approval of Little River Waterfront Park (Bayfront & Riverfront Lands
Acquisition), B-50722 included in the Capital Improvements Program (CIP) appropriation item
scheduled for this commission meeting.
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