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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #2030 Date: 03/27/2017 Commission Meeting Date: 04/27/2017 Requesting Department: Department of Real Estate and Asset Management Sponsored By: District Impacted: District 2 Type: Resolution Subject: Execute Purchase and Sale Agreement - 13 NW 6th Street 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"), in substantially the attached form, between the City of Miami ("Purchaser") and AT&T Communications, Inc. ("Seller"), for the acquisition of real property located at a certain portion of 13 NW 6th Street, Miami, Florida, containing an approximate lot area of 10,586 square feet, as more particularly described on Exhibit "A" of the Agreement, attached and incorporated ("Property"), for a total purchase price of Three Million Four Hundred Fifty Thousand Dollars, $3,450,000.00 ("Purchase Price"). The purchase is contingent upon the Purchaser obtaining two written appraisals from licensed Florida appraisers confirming that the appraised value of the Property is at least the stated Purchase Price; authorizing the City Manager to negotiate and execute all necessary documents, including amendments and modifications to said Agreement, in a form acceptable to the City Attorney, as may be necessary to effectuate said acquisition; allocating funds from a source to be determined in a total amount not to exceed Three Million Five Hundred Thirty Seven Thousand Dollars ($3,537,000.00), 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. Background of Item: The City of Miami ("Purchaser") wishes to acquire real property located at a certain portion of 13 NW 6th Street, Miami, Florida, as more particularly described on Exhibit "A" of the Agreement, attached and incorporated ("Property"). Pursuant to Resolution R- 15-0474, adopted on October 22, 2015, the Purchaser will acquire fee simple title to the parcel abutting the Property to the north, as more particularly described on Attachment 1 ("Parcel 3"). The Purchaser plans to assemble the Property containing 10,586 square feet along with 20,468 square feet of Parcel 3 to develop a new City of Miami Fire Station. The total size of the Property and Parcel 3 is approximately 31,054 square feet. Seller agrees to enter into a Purchase and Sale Agreement ("Agreement"), to convey the Property to the Purchaser for Three Million Four Hundred Fifty Thousand Dollars, $3,450,000.00 ("Purchase Price"). The Agreement is contingent upon obtaining two (2) written appraisals from licensed Florida appraisers the average of which shall be a sum greater than or equal to the Purchase Price. The Purchaser's estimated total cost for the acquisition of the Property will not exceed Three Million Five Hundred Thirty Seven Thousand Dollars ($3,537,000.00), to be allocated from a source of funds to be determined. Budget Impact Analysis Item is an Expenditure Item is NOT funded by Bonds Item is NOT Related to Revenue Total Fiscal Impact: $3,537,000.00 CIP Project No: To Be Determined Real Estate and Asset Management Office of Management and Budget Office of Management and Budget City Manager's Office City Manager's Office Legislative Division Office of the City Attorney Office of the City Attorney City Commission Office of the Mayor Office of the City Clerk Reviewed B Aldo Bustamante Everton Garvis Christopher M Rose Alberto N. Parjus Daniel J. Alfonso Valentin J Alvarez Barnaby L. Min Victoria Mendez Maricarmen Lopez Mayor's Office City Clerk's Office Department Head Review Budget Analyst Review Budget Review Assistant City Manager Review City Manager Review Legislative Division Review Deputy City Attorney Review Approved Form and Correctness Meeting Signed by the Mayor Signed and Attested by the City Clerk Completed Completed 03/28/2017 7:22 AM Completed 03/28/2017 2:38 PM Completed 04/04/2017 11:53 AM Completed 04/04/2017 3:03 PM Completed 04/04/2017 4:32 PM Completed 04/14/2017 10:51 AM Completed 04/14/2017 11:23 AM Completed 04/17/2017 1:32 PM Completed 04/27/2017 9:00 AM Completed 05/02/2017 6:02 PM 05/02/2017 6:29 PM City of Miami Legislation Resolution Enactment Number: R-17-0201 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 2030 Final Action Date:4/27/2017 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 ("CITY"), AS PURCHASER, AND AT&T COMMUNICATIONS, INC. ("AT&T"), AS SELLER, FOR THE ACQUISITION OF REAL PROPERTY LOCATED AT 13 NORTHWEST 6TH STREET, MIAMI, FLORIDA, CONTAINING AN APPROXIMATE LOT AREA OF 10,586 SQUARE FEET, AS MORE PARTICULARLY DESCRIBED ON EXHIBIT "A" OF THE AGREEMENT, ATTACHED AND INCORPORATED ("PROPERTY"), FOR A TOTAL PURCHASE PRICE OF THREE MILLION FOUR HUNDRED FIFTY THOUSAND DOLLARS ($3,450,000.00) CONTINGENT UPON THE CITY OBTAINING TWO (2) WRITTEN APPRAISALS FROM LICENSED FLORIDA APPRAISERS CONFIRMING THAT THE APPRAISED VALUE OF THE PROPERTY IS AT LEAST THE STATED PURCHASE PRICE ("PURCHASE PRICE"); AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AS MAY BE NECESSARY TO EFFECTUATE SAID ACQUISITION; ALLOCATING FUNDS FROM A SOURCE TO BE DETERMINED IN A TOTAL AMOUNT NOT TO EXCEED THREE MILLION FIVE HUNDRED THIRTY SEVEN THOUSAND DOLLARS ($3,537,000.00), TO COVER THE COST OF SAID ACQUISITION, INCLUSIVE OF THE COST OF A SURVEY, ENVIRONMENTAL REPORT, TITLE INSURANCE AND RELATED CLOSING COSTS ASSOCIATED WITH SAID ACQUISITION, IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE AGREEMENT. WHEREAS, the City of Miami ("City"), as purchaser, wishes to acquire from AT&T Communications, Inc. ("AT&T"), as seller, the real property located at 13 Northwest 6th Street, Miami, Florida, as more particularly described in Exhibit "A" of the Purchase and Sale Agreement ("Agreement"), attached and incorporated ("Property") containing an approximate lot area of 10,586 square feet; and WHEREAS, AT&T agrees to enter into the Agreement to convey the Property to the City for Three Million Four Hundred Fifty Thousand Dollars ($3,450,000.00) ("Purchase Price"); and WHEREAS, the Agreement is contingent upon the City obtaining two (2) written appraisals from licensed Florida appraisers which reflect average appraisal of a sum greater than or equal to the Purchase Price; and WHEREAS, the City's estimated total cost for the acquisition of the Property will not exceed Three Million Five Hundred Thirty -Seven Thousand Dollars ($3,537,000.00) to be allocated from a source of funds to be determined; 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 hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. Section 2. The City Manager is authorized' to execute the Agreement, in substantially the attached form, between the City and AT&T for the purchase of the Property at the Purchase Price contingent upon the City obtaining two (2) written appraisals from licensed Florida appraisers confirming that the appraised value of the Property is at least the stated Purchase Price. Section 3. The City Manager is authorized' to negotiate and execute all necessary documents, including any and all amendments and modifications to said Agreement, in a form acceptable to the City Attorney, as may be necessary to effectuate said acquisition. Section 4. Funds are to be allocated from a source to be determined in a total amount not to exceed Three Million Five Hundred Thirty Seven Thousand Dollars ($3,537,000.00) to cover the cost of said acquisition, inclusive of the cost of a survey, environmental report, title insurance, and related closing costs associated with said acquisition, in accordance with the terms and conditions of the Agreement. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: 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 City Code provisions. 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) 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.