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File ID: #6069
Resolution
Sponsored by: Commissioner Manolo Reyes
A RESOLUTION OF THE MIAMI CITY COMMISSION, BY A FOUR -FIFTHS (4/5THS)
AFFIRMATIVE VOTE, AUTHORIZING THE CITY MANAGER TO EXECUTE A
PURCHASE AND SALE AGREEMENT ("AGREEMENT"), IN A FORM ACCEPTABLE
TO THE CITY ATTORNEY, BETWEEN THE CITY OF MIAMI ("CITY") AND
INVESTORS GUIDE LLC ("SELLER") FOR THE ACQUISITION OF REAL PROPERTY
LOCATED AT 700 SOUTHWEST 63 AVENUE, MIAMI, FLORIDA ("PROPERTY") FOR
A PURCHASE PRICE OF THREE HUNDRED EIGHTY-FIVE THOUSAND DOLLARS
($385,000.00); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE
AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, INCLUDING
AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, ALL 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 AN AMOUNT NOT TO EXCEED FOUR HUNDRED THOUSAND
DOLLARS ($400,000.00),TO COVER THE COST OF SAID ACQUISITION, INCLUSIVE
OF THE COST OF SURVEY, ENVIRONMENTAL REPORT, TITLE INSURANCE,
DEMOLITION, SECURING THE PROPERTY, PROJECT SIGNAGE, AND ALL
RELATED CLOSING COSTS, ASSOCIATED WITH SAID ACQUISITION, ALL IN
ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE AGREEMENT.
City of Miami
Legislation
Resolution
Enactment Number: R-19-0241
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 6069 Final Action Date:6/27/2019
A RESOLUTION OF THE MIAMI CITY COMMISSION, BY A FOUR -FIFTHS (4/5THS)
AFFIRMATIVE VOTE, AUTHORIZING THE CITY MANAGER TO EXECUTE A
PURCHASE AND SALE AGREEMENT ("AGREEMENT"), IN A FORM ACCEPTABLE
TO THE CITY ATTORNEY, BETWEEN THE CITY OF MIAMI ("CITY") AND
INVESTORS GUIDE LLC ("SELLER") FOR THE ACQUISITION OF REAL PROPERTY
LOCATED AT 700 SOUTHWEST 63 AVENUE, MIAMI, FLORIDA ("PROPERTY") FOR
A PURCHASE PRICE OF THREE HUNDRED EIGHTY-FIVE THOUSAND DOLLARS
($385,000.00); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE
AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, INCLUDING
AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, ALL 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 AN AMOUNT NOT TO EXCEED FOUR HUNDRED THOUSAND
DOLLARS ($400,000.00),TO COVER THE COST OF SAID ACQUISITION, INCLUSIVE
OF THE COST OF SURVEY, ENVIRONMENTAL REPORT, TITLE INSURANCE,
DEMOLITION, SECURING THE PROPERTY, PROJECT SIGNAGE, AND ALL
RELATED CLOSING COSTS, ASSOCIATED WITH SAID ACQUISITION, ALL IN
ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE AGREEMENT.
WHEREAS, the City of Miami ("City") wishes to acquire the property located at 700
Southwest 63Avenue, Miami, Florida ("Property"); and
WHEREAS, the City plans to construct a park that will enhance the quality of life of the
residents in the surrounding area; and
WHEREAS, Investors Guide LLC ("Seller") has agreed to enter into a Purchase and
Sale Agreement ("Agreement") with the City to convey the Property to the City, for the amount
of Three Hundred Eighty -Five Thousand Dollars ($385,000.00); and
WHEREAS, the City obtained an appraisal from a licensed State of Florida certified
appraiser pursuant to Section 166.045(b), Florida Statutes, stating that the appraised value of
the Property is Three Hundred Fifty -Eight Thousand Dollars ($358,000.00); and
WHEREAS, pursuant to Section 166.045(b), Florida Statutes, the City is required to
approve the purchase of the Property by an extraordinary vote, a four -fifths (4/5ths) vote of the
City Commission, as the purchase price exceeds the appraisal; and
WHEREAS, the City's estimated total cost for the acquisition of the Property will not
exceed Four Hundred Thousand Dollars ($400,000.00), with funds being allocated from a
source 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 and incorporated herein, as if fully set forth in this Section.
Section 2. The City Manager is authorized' to negotiate and execute an Agreement, in a
form acceptable to the City Attorney, between the City and the Seller, for the acquisition of the
Property for a purchase price of Three Hundred Eighty -Five Thousand Dollars ($385,000.00).
Section 3. Funding for the acquisition of the Property is to be allocated, in an amount
not to exceed Four Hundred Thousand Dollars ($400,000.00) from a source to be determined.
Section 4. The City Manager is further authorized1 to negotiate and execute any and all
necessary documents, including amendments and modifications to said Agreement, all in a form
acceptable to the City Attorney, as may be necessary to effectuate said acquisition.
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 6/17/2019
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 Code
provisions
2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten 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