HomeMy WebLinkAboutSummary FormFILE ID:
Date: 02/19/2015
AGENDA ITEM SUMMARY FORM
15-00251
Law Department
Matter ID No.
14-2915
Requesting Department: Dept. of Real Estate & Asset Mngt.
Commission Meeting Date: 03/26/2015 District Impacted: 4
Type: El Resolution n Ordinance El Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Purchase and Sale Agreement for the acquisition of property located at 735 SW 63 Court, Miami,
Florida.
Purpose of Item:
a resolution of the Miami City Commission, with attachment(s), authorizing the City Manager to execute a
Purchase and Sale Agreement ("Agreement") for the acquisition of the property located at 735 SW 63 Court,
Miami, Florida, ("Property"), containing a total lot area of 10,357 square feet more or less, as legally described
in the Agreement between the City of Miami ("Purchaser") and Federal National Mortgage Association
("Seller"), attached hereto and made a part hereof, for a total purchase price of two hundred nine thousand nine
hundred dollars ($209,900); authorizing the City Manager to execute any necessary documents, in a form
acceptable to the City Attorney, which are necessary to effectuate said acquisition. Funds are allocated from
the D4 Park Land Acquisition project B-50568 in the total amount not to exceed two hundred fifteen thousand
($215,000.00) dollars, to cover the cost of said acquisition inclusive of the cost of survey, environmental report,
title insurance and related closing costs associated with said acquisition, in accordance with the terms and
conditions of the Agreement, which terms may be amended by the city manager, as may be necessary in order
to meet the best interest of the city.
Background Information:
[ee Supplemental Page
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:
40-B50568 (D4 Park Land Acquisition)
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP N/A
If using or receiving capital funds
Grants N/A
c.2 OOO
Final Approvals
(SIGN AND DATE)
Budget
Purchasing N/A
Chief
Dept. Director
City Manager
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SUPPLEMENTAL PAGE
Subject: Purchase and Sale Agreement for the acquisition of property located at 735 SW 63 Court, Miami,
Florida.
Background Information:
The City of Miami ("Purchaser") wishes to acquire the property currently bank -owned, located at 735 SW 63rd
Court, Miami, Florida ("Property"). The Purchaser plans to construct a park at the Property to enhance the
quality of life. The Purchaser acknowledges and takes the Property subject to the City of Miami's pending lien
CE2013011328. Seller agrees to enter into a Purchase and Sale Agreement, to sell the Property to the
Purchaser for Two Hundred Nine Thousand Nine Hundred Dollars ($209,900). The Agreement is contingent
upon the City of Miami obtaining a written appraisal from a licensed Florida appraiser stating that the
appraised value is at least two hundred nine thousand nine hundred dollars ($209,900). The Purchaser's
estimated total cost for the acquisition of the Property will not exceed two hundred fifteen thousand dollars
($215,000.00), to be allocated from CIP Project No. 40-B50568 D4 Park Land Acquisition.
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