HomeMy WebLinkAboutLegislation (Version 2) 10/13/11City of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 11-00817 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE CITY
MANAGER TO EXECUTE A SETTLEMENT AGREEMENT AND ALL NECESSARY
DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY,
TRANSFERRING THE MANAGEMENT AND POSSESSION OF RESIDENTIAL AND
COMMERCIAL PROPERTY LEASED TO THE OLYMPIA BUILDING PARTNERS,
LTD., BACK TO THE CITY OF MIAMI; MAINTAINING THE RESIDENTIAL
PROPERTY AS AFFORDABLE HOUSING AT LEAST THROUGH MAY 5, 2015;
TRANSFERRING ANY OPERATING CASH IN DEFENDANT'S POSSESSION LESS
$15,000 FOR ITS FINAL FINANCIAL AUDIT; CONTINUING DEFENDANT'S
PAYMENTS ON COMMUNITY DEVELOPMENT LOANS UNTIL SUCH TIME AS
THE TRANSFER OF POSSESSION TAKES PLACE; TRANSFERRING OR
CANCELING ALL SERVICE CONTRACTS 'UPON REVIEW OF THE DEPARTMENT
OF PUBLIC FACILITIES, IN FULL AND COMPLETE SETTLEMENT OF ANY AND
ALL CLAIMS AND DEMANDS AGAINST OLYMPIA BUILDING PARTNERS LTD., IN
THE CASE OF CITY OF MIAMI VS. OLYMPIA BUILDING PARTNERSHIP, LTD., IN
THE CIRCUIT COURT OF THE ELEVENTH JUDICIAL CIRCUIT IN AND FOR
MIAMI-DADE COUNTY, FLORIDA, CASE NO. 03-28667-CA-27.
WHEREAS, the City of Miami filed a lawsuit against the Olympia Building Partners, Ltd., in the
Circuit Court of the Eleventh Judicial Circuit, in and for Miami -Dade County, Florida, Case No:
03-28667 CA 27, concerning a 40-year lease agreement executed in 1995 with Olympia Building
Partners, Ltd., for the purpose of developing and maintaining the historic property as affordable
housing units with adjacent commercial space on the ground floor; and
WHEREAS, Defendant Olympia Building Partners, Ltd. has agreed to transfer to the City of
Miami the management and possession of the residential and commercial properties which are the
subject of the lease agreement, without disturbing the possession of the units occupied by tenants;
and
WHEREAS, pursuant to the settlement agreement, the City of Miami has agreed to maintain
the residential property as affordable housing at least through May 5, 2015; and
WHEREAS, pursuant to the settlement agreement, Defendant Olympia Building Partners, Ltd.
will transfer any operating cash in its possession less $15,000 for its final financial audit; and
WHEREAS, pursuant to the settlement agreement, Defendant Olympia Building Partners, Ltd.
will continue making payments on the two Community Development loans it obtained from the City
until such time as it transfers possession of the leasehold property to the City; and
WHEREAS, any pending service contracts associated with the management and possession of
City of Miami Page 1 of 2 File Id: 11-00817 (Version: 2) Printed On: 9/26/2011
File Number: 11-00817
the leasehold property will be canceled or transferred to the City upon approval of the Department of
Public Facilities; and
WHEREAS, the City Attorney's Office has investigated this claim and lawsuit, and recommends
that said claim and lawsuit be settled by transferring the leasehold property back to the City of Miami;
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. The City Manager is authorized{1} to execute a settlement agreement and all
necessary documents, in a form acceptable to the City Attorney, transferring the management and
possession of residential and commercial property leased to the Olympia Building Partners, Ltd. back
to the City of Miami; maintaining the residential property as affordable housing at least through May 5,
2015, transferring any operating cash in Defendant's possession less $15,000 for its final financial
audit; continuing Defendant's payments on Community Development loans until such time as the
transfer of possession takes place; transferring .or canceling all service contracts upon review of the
Department of Public Facilities, in full and complete settlement of any and all claims and demands
against Olympia Building Partnership, Ltd. in the case of City of Miami vs. Olympia Building
Partnership, Ltd., in the Circuit Court of the Eleventh Judicial Circuit in and for Miami -Dade County,
Florida, Case No. 03-28667-CA-27.
Section 3. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor. {2}
APPROVED AS TO FORM AND CORRECTNESS:
CITY ATTORNEY
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.
City of Miami Page 2 of 2 File Id: 11-00817 (Version: 2) Printed On: 9/26/2011