HomeMy WebLinkAboutSummary FormDate: 5/2/2014
AGENDA ITEM SUMMARY FORM
14-00455
FILE ID:
Law Department
Matter I No.
14-8
Requesting Department: Public Facilities/Asset gmt.
Commission Meeting Date: 5/22/2014 District Impacted: 2
Type: ® Resolution ❑ Ordinance n Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Resolution for the sale of the property at 602 South Miami Avenue 614 South Miami Avenue, Miami,
Florida.
Purpose of Item:
A Resolution of the Miami City Commission, with attachment(s), declaring surplus and approving the
conveyance of the City of Miami ("Seller") owned property located at 602 South Miami Avenue and 614 South
Miami Avenue, Miami, Florida (collectively the "Property"), as more particularly described in Exhibit "A",
attached and incorporated, to BCC Road Improvement, LLC., a Florida Limited Liability Corporation
("Buyer"), for a total purchase price of four million dollars ($4,000,000) and to fmalize the transaction in
accordance with the terms of the Agreement; with Purchaser covering all costs associated with the transfer of
the Property, including but not limited to, appraisals, a survey, environmental report, title insurance and closing
costs, further authorizing the City Manager to negotiate and execute a Purchase and Sale Agreement
("Agreement"), in substantially the attached form, and to negotiate and execute such other documents as may
be necessary to perform the transaction in accordance with the terms and conditions of the Agreement, which
terms may be amended by the City Manager and the City Attorney as may be necessary in order to meet the
best interests of the City.
Background Information:
See Supplemental Page
Budget Impact Analysis
YES Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
SIGN AND DATE)
CIP N/A Bud t
If using or receiving capital funds �7 i
Grants N/A Risk Management_
Purchasing N/A Dept. Director
Chief City Manage
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SUPPLEMENTAL PAGE
Subject: Resolution for the sale of the property at 602 South Miami Avenue 614 South Miami Avenue, Miami,
Florida.
Background Information:
The City of Miami ("Seller") is acquiring 602 South Miami Avenue and 614 South Miami Avenue (collectively
the "Property") from the Board of Trustees of the Internal Improvement Trust Fund of the State of Florida by
and through its agent, the Division of State Lands of the State of Florida Department of Environmental
Protection ("DEP") pursuant to that certain State of Florida Department of Environmental Protection Contract
for Sale and Purchase and Deposit Receipt entered into on or about the date hereof (the "DEP Contract").
Seller intends to acquire the Property under the DEP Contract and subsequent to Seller's acquisition of the
Property, Seller desires to convey the Property to BCC Road Improvement, LLC ("Buyer"), and Buyer desires
to acquire the Property from Seller, pursuant and subject to the terms and conditions set forth herein.
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