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HomeMy WebLinkAboutAgenda Item Cover PageAGENDA ITEM COVER PAGE File ID: #8005 Resolution Sponsored by: Commissioner Manolo Reyes A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A PURCHASE AND SALE AGREEMENT ("AGREEMENT"), IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, BETWEEN THE CITY OF MIAMI ("CITY") AND IVAN TOLEDO AND ISIS FUENTE ("SELLER") FOR THE ACQUISITION OF REAL PROPERTY LOCATED AT 725 SOUTHWEST 63 COURT, MIAMI, FLORIDA ("PROPERTY") FOR A PURCHASE PRICE OF THREE HUNDRED EIGHTY THOUSAND DOLLARS ($380,000.00); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, ALL IN FORMS 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 FIFTEEN THOUSAND DOLLARS ($415,000.00) TO COVER THE COST OF SAID ACQUISITION, INCLUSIVE OF THE COST OF SURVEY, ENVIRONMENTAL REPORTS, TITLE INSURANCE, DEMOLITION, SECURING THE PROPERTY, PROJECT SIGNAGE, AND 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-20-0349 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 8005 Final Action Date:10/22/2020 A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A PURCHASE AND SALE AGREEMENT ("AGREEMENT"), IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, BETWEEN THE CITY OF MIAMI ("CITY") AND IVAN TOLEDO AND ISIS FUENTE ("SELLER") FOR THE ACQUISITION OF REAL PROPERTY LOCATED AT 725 SOUTHWEST 63 COURT, MIAMI, FLORIDA ("PROPERTY") FOR A PURCHASE PRICE OF THREE HUNDRED EIGHTY THOUSAND DOLLARS ($380,000.00); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, ALL IN FORMS 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 FIFTEEN THOUSAND DOLLARS ($415,000.00) TO COVER THE COST OF SAID ACQUISITION, INCLUSIVE OF THE COST OF SURVEY, ENVIRONMENTAL REPORTS, TITLE INSURANCE, DEMOLITION, SECURING THE PROPERTY, PROJECT SIGNAGE, AND 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 725 Southwest 63 Court, Miami, Florida ("Property"); and WHEREAS, the City plans to construct a park at the Property that will enhance the quality of life of residents in the surrounding area; and WHEREAS, Ivan Toledo and Isis Fuente ("Seller") have agreed to enter into a Purchase and Sale Agreement ("Agreement") with the City to convey the Property to the City for a purchase price of Three Hundred Eighty Thousand Dollars ($380,000.00); and WHEREAS, the City obtained an appraisal from a licensed State of Florida certified appraiser stating that the appraised value of the Property is at least the purchase price of Three Hundred Eighty Thousand Dollars ($380,000.00); and WHEREAS, the City's estimated total cost for the acquisition of the Property will not exceed Four Hundred Fifteen Thousand Dollars ($415,000.00) with funds to be 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 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 the 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 Thousand Dollars ($380,000.00). Section 3. The City Manager is further authorized1 to negotiate and execute any and all necessary documents, including amendments and modifications to said Agreement, all in forms acceptable to the City Attorney, as may be necessary to effectuate said acquisition. Section 4. Funding for the acquisition of the Property is to be allocated from a source to be determined in an amount not to exceed Four Hundred Fifteen Thousand Dollars ($415,000.00) to cover the cost of said acquisition, inclusive of the cost of survey, environmental reports, title insurance, demolition, securing the property, project signage, and related closing costs associated with said acquisition, all 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 10/13/2020 1 The herein authorization is further subject to compliance with all legal requirements that may be imposed, 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.