HomeMy WebLinkAboutSubmittal-Miguel Villalobos-Letter to CommissionersJuly 12, 2018
Submitted into the p
recordior it
on t i ,
HORABLE MAYOR AND CITY OF MIAMI COMMISSIONERS:
LEJUNE PARK:
SUGESTIONS FOR DEVELOPMENT OF LEJUNE PARK TO CITY OF MIAMI COMMISSIONERS:
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1. OBTAIN FROM DEVELOPERS A FEASEBILITY STUDY FOR THE PROPOSED PROJECT.
2. OBTAIN AN EXPENSE AND REVENUE PROJECTIONS SCHEDULES FOR A MINIMUN OF TEN YEARS.
3. OBTAIN WITH THE PROJECTION OF THE ABOVE DATA, WITH AT LEAST THREE DIFFERENT
APPRAISEAL TO DETERMINE THE VALUE OF THE PROPRETY, AS THESE MAY DIFFER IN THEIR
CONCLUSIONS OF VALUE.
4. ONCE ITEM THREE IS KNOWN, DETERMINE THE DESIRABLE RENT INCLUDING CPI INCREASES
OVER THE LIFE OF THE LEASE.
5. RESCHEDULE TRHEE APPRAISAL REPORTS OF THE DEVELOPED PROJECT EVERY FIVE YEARS TO
DETERMINE NEW RENTS.
THE ABOVE ARE SUGESTIONS THAT DESERVES DETAIL STUDY FOR SUCH LARGE PROJECT FOR THE
BENEFIT OF THE CITY OF MIAMI AS WELL OF ITS CITIZENS.
Miguel ViIlalobos, ASA, CGC.
Former City Real Estate Analyst, Department of Asset Management.
City Clerk
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