HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #3537
Date: 01/16/2018
Commission Meeting Date: 03/22/2018
Requesting Department: Department of Real
Estate and Asset Management
Sponsored By:
District Impacted: District 4
Type: Resolution
Subject: Purchase and Sale Agreement - 2484 SW 24 Terrace
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 The Valencia Group Corp.
("Seller"), for the acquisition of real property located at 2484 SW 24th Terrace, Miami,
Florida, ("Property"), containing an approximate total lot area of 11,500 square feet, as
legally described in the Agreement, attached and incorporated, for a total purchase
price of Five Hundred Seventy-five Thousand Dollars ($575,000.00), the City obtained
two written appraisals from licensed State of Florida certified appraisers stating the
average appraised price of the two appraisals is equal to the 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; with funds allocated from
the Capital Improvement and Transportation Program Project No. 40-B40507, Citywide
Park Expansions and Land Acquisition, in a total amount not to exceed Six Hundred
Twenty Thousand Dollars ($620,000.00), to cover the cost of said acquisition, inclusive
of the cost of survey, environmental report, title insurance, demolition, securing the
property 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 the property located at 2484 SW 24
Terrace, Miami, Florida ("Property"). The Purchaser plans to construct a park at the
Property to enhance the quality of life in the surrounding area. The Valencia Group
Corp. ("Seller") agrees to enter into a Purchase and Sale Agreement ("Agreement"), to
convey the Property to the Purchaser for Five Hundred Seventy-five Thousand Dollars
($575,000.00). The City obtained two written appraisals from licensed State of Florida
certified appraisers stating the average appraised price of the two appraisals is equal to
the purchase price. The Purchaser's estimated total cost for the acquisition of the
Property will not exceed Six Hundred Twenty Thousand Dollars ($620,000.00), to be
allocated from CIP Project No. 40-B40507, Citywide Park Expansions and Land
Acquisition.
Budget Impact Analysis
Item is an Expenditure
Item is NOT Related to Revenue
Item is NOT funded by Bonds
Total Fiscal Impact:
$620,000.00
CIP Project No: 40-B40507 (CW Park Expansions and Land ACQ)
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
City Commission
Reviewed B
Aldo Bustamante
Yvette Smith
Christopher M Rose
Alberto N. Parjus
Alberto N. Parjus
Valentin J Alvarez
Barnaby L. Min
Victoria Mendez
Nicole Ewan
Nicole Ewan
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
Meeting
Completed 01/17/2018 6:59 AM
Completed 01/22/2018 10:21 AM
Completed 01/25/2018 5:35 PM
Completed 01/25/2018 8:16 PM
Completed 01/25/2018 8:17 PM
Completed 01/29/2018 4:22 PM
Completed 02/08/2018 10:53 AM
Completed 02/09/2018 2:48 PM
Completed 02/22/2018 9:00 AM
Completed 03/22/2018 9:00 AM
City of Miami
Legislation
Resolution
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 3537 Final Action Date:3/22/2018
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") AND THE VALENCIA GROUP CORP., A
FLORIDA PROFIT CORPORATION ("VALENCIA GROUP"), FOR THE ACQUISITION
OF REAL PROPERTY LOCATED AT 2484 SOUTHWEST 24TH TERRACE, MIAMI,
FLORIDA ("PROPERTY"), CONTAINING AN APPROXIMATE TOTAL LOT AREA OF
11,500 SQUARE FEET, AS LEGALLY DESCRIBED IN THE AGREEMENT,
ATTACHED AND INCORPORATED, FOR A TOTAL PURCHASE PRICE OF FIVE
HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($575,000.00); FURTHER
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL
NECESSARY DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO
SAID AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AS MAY
BE DEEMED NECESSARY TO EFFECTUATE SAID ACQUISITION; ALLOCATING
FUNDS FROM THE CAPITAL IMPROVEMENT PROGRAM PROJECT NO. 40-
B40507, CITYWIDE PARK EXPANSIONS AND LAND ACQUISITION, IN A TOTAL
AMOUNT NOT TO EXCEED SIX HUNDRED TWENTY THOUSAND DOLLARS
($620,000.00), TO COVER THE COST OF SAID ACQUISITION, INCLUSIVE OF THE
COST OF A SURVEY, ENVIRONMENTAL REPORT, TITLE INSURANCE,
DEMOLITION, SECURING THE PROPERTY, AND RELATED CLOSING COSTS
ASSOCIATED WITH SAID ACQUISITION, IN ACCORDANCE WITH THE TERMS AND
CONDITIONS OF THE AGREEMENT.
WHEREAS, the City of Miami ("City") wishes to acquire the real property located at 2484
Southwest 24th Terrace, Miami, Florida ("Property"); and
WHEREAS, the City plans to construct a park at the Property to enhance the quality of
life in the surrounding area; and
WHEREAS, the Valencia Group Corp., a Florida profit corporation ("Valencia Group"),
agreed to enter into a Purchase and Sale Agreement ("Agreement") to convey the Property to
the City for a total purchase price of Five Hundred Seventy -Five Thousand Dollars
($575,000.00); and
WHEREAS, pursuant to legal requirements, the City obtained two (2) written appraisals
from licensed State of Florida certified appraisers establishing the average appraised price of
the two (2) appraisals is equal to the purchase price; and
WHEREAS, the City's estimated total cost for the acquisition of the Property will not
exceed Six Hundred Twenty Thousand Dollars ($620,000.00) to be allocated from Capital
Improvement Program ("CIP") Project No. 40-B40507, Citywide Park Expansions and Land
Acquisition;
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 the Valencia Group for the acquisition of the Property,
containing an approximate total lot area of 11,500 square feet, as legally described in the
Agreement, attached and incorporated, for a total purchase price of Five Hundred Seventy -Five
Thousand Dollars ($575,000.00).
Section 3. The City Manager is further authorized' to negotiate and execute any and all
necessary documents, including amendments and modifications to said Agreement, in a form
acceptable to the City Attorney, as may be deemed necessary to effectuate said acquisition.
Section 4. Funding is allocated from CIP Project No. 40-B40507, Citywide Park
Expansions and Land Acquisition, in a total amount not to exceed Six Hundred Twenty
Thousand Dollars ($620,000.00), to cover the cost of said acquisition, inclusive of the cost of a
survey, environmental report, title insurance, demolition, securing the Property, 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:
ndez, ity Attor ey 2/9/2018
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