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Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 04-00154 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
BYA FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AUTHORIZING THE CITY
MANAGER TO EXECUTE A PURCHASE AND SALE AGREEMENT
("AGREEMENT") BETWEEN THE CITY OF MIAMI AND CBI CAPITAL
HOLDINGS, INC., FOR THE ACQUISITION OF PROPERTIES LOCATED AT 207
NORTHEAST 59TH STREET AND 5911 NORTHEAST 2ND AVENUE, MIAMI,
FLORIDA ("PROPERTIES"), AS LEGALLY DESCRIBED IN THE AGREEMENT, IN
CONNECTION WITH THE DEVELOPMENT OF LITTLE HAITI PARK, FOR A
TOTAL PURCHASE PRICE NOT TO EXCEED $411,000, AND TO
CONSUMMATE SAID TRANSACTION IN ACCORDANCE WITH THE TERMS OF
THE AGREEMENT; ALLOCATING FUNDS, IN ATOTALAMOUNT NOT TO
EXCEED $442,700, FROM THE $255 MILLION HOMELAND
DEFENSE/NEIGHBORHOOD IMPROVEMENT BOND FOR COSTS INCLUDING
BUT NOT LIMITED TO SURVEYS, APPRAISALS, ENVIRONMENTAL REPORTS,
TITLE INSURANCE, DEMOLITION, AND FENCING.
WHEREAS, Resolution No. 01-1029, adopted September 25, 2001, directed the City Manager
to take all steps necessary to initiate and implement the development of a superlative park in the
Little Haiti area ("Park Project"); and
WHEREAS, the boundaries for the Park Project as established by the City Commission are to
be from Northeast 59th Street to Northeast 64th Terrace between Northeast 2nd Avenue and
Northeast 4th Avenue, Miami, Florida; and
WHEREAS, Resolution No. 02-395, adopted April 11, 2002, directed the City Manager to
expedite the land acquisition for the Park Project approved in the $255 Million Dollar Homeland
Defense/Neighborhood Improvement Bond Issue; and
WHEREAS, the properties located at 207 Northeast 59th Street and 5911 Northeast 2nd
Avenue, Miami, Florida, are within the park boundaries and are necessary as part of the land
assembly required for the Little Haiti Park Project; and
WHEREAS, an independent appraisal established $276,000 as the combined fair market
value for the Properties; and
WHEREAS, the Department of Economic Development prepared a Purchase and Sale
Agreement ("Agreement") between the City of Miami ("City") and CBI Capital Holdings, Inc.,
attached and incorporated, to purchase the Properties for $411,000, with a deposit of $1,000; and
WHEREAS, the Purchase Price exceeds the appraised value of $276,000 by $135,000; and
City of Miami Page 1 of 2 File Id: 04-00154 (Version: 1) Printed On: 9/10/2024
File Number: 04-00154
WHEREAS, it is a condition precedent to the validity of the Agreement and its execution by the
City Manager that the City Commission approve the Agreement by a greater majority of a
four -fifths (4/5ths) vote of its members; and
WHEREAS, failing such approval the Agreement shall be automatically null and void without
the necessity of further action by either party;
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. By a four -fifths (4/5ths) affirmative vote, the City Manager is authorized{1} to execute
an Agreement, in substantially the attached form, between the City of Miami and CBI Capital
Holdings, Inc., for the acquisition of the properties located at 207 Northeast 59th Street and 5911
Northeast 2nd Avenue, Miami, Florida, as legally described in the Agreement in connection with
the development of Little Haiti Park, with a total purchase price of $411,000, and to consummate
said transaction in accordance with the terms of the Agreement; with funds allocated, at a total
amount not to exceed $442,700, from the $255 Million Dollar Homeland Defense/Neighborhood
Improvement Bond to cover the costs of said acquisition inclusive of costs of survey, appraisal,
environmental report, title insurance, demolition, and fencing.
Section 3. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor.{2}
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 File Id: 04-00154 (Version: 1) Printed On: 9/10/2024