HomeMy WebLinkAboutResolutionCity of Miami
Resolution
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 8733 Final Action Date: 4/22/2021
MAY BE WITHDRAWN
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 AND 3260/3270 HOLDINGS, LLC FOR THE PURCHASE OF A
PROPERTY LOCATED AT 3260 SW 29 STREET AND 3270 SW 29 STREET, MIAMI,
FLORIDA 33133 (COLLECTIVELY, "PROPERTY") FORA PURCHASE PRICE OF
TWO MILLION THREE HUNDRED FIFTY THOUSAND DOLLARS ($2,350,000.00);
FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE
ANY AND ALL OTHER 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 THE OFFICE OF CAPITAL IMPROVEMENTS PROJECT
NO. 40-B213507, DISTRICT 2 PARK LAND ACQUISITION, AND ADDITIONAL FUNDS
ALLOCATED FROM A SOURCE TO BE DETERMINED, IN AN AMOUNT NOT TO
EXCEED TWO MILLION FOUR HUNDRED TWENTY-FIVE THOUSAND DOLLARS
($2,425,000.00) 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 in fee simple the real properties
located at 3260 Southwest 29 Street and 3270 Southwest 29 Street, Miami, Florida 33133
(collectively, "Property"); and
WHEREAS, the City plans to construct a park that will enhance the quality of life of
residents in the surrounding area; and
WHEREAS, 3260/3270 Holdings, LLC ("Seller") is currently the contract purchaser of the
Property; and
WHEREAS, upon the Seller's acquisition of the Property, the Seller has agreed to enter
into a Purchase and Sale Agreement ("Agreement") with the City to convey the fee simple
interest in the Property to the City for an amount equal to Two Million Three Hundred Fifty
Thousand Dollars ($2,350,000.00); and
WHEREAS, the City obtained two (2) appraisals from licensed State of Florida certified
appraisers, which provide an average fair market value of the Property that exceeds the
purchase price of Two Million Three Hundred Fifty Thousand Dollars ($2,350,000.00); and
City of Miami Page 1 of 2 File ID: 8733 (Revision:) Printed On: 5/19/2025
File ID: 8733 Enactment Number:
WHEREAS, the City's estimated total cost for the acquisition of the Property, including
the cost of survey, environmental reports, title insurance, demolition, securing the property,
project signage, and related closing costs associated with said acquisition, is estimated not to
exceed Two Million Four Hundred Twenty -Five Thousand Dollars ($2,425,000.00); and
WHEREAS, funds will be allocated from the Office of Capital Improvements ("OCI")
Project No. 40-B213507, District 2 Park Land Acquisition with additional funds 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 thereto and incorporated herein as if fully set forth in this Section.
Section 2. The City Manager is authorized to negotiate and execute the Agreement
between the City and Seller, upon the Seller's acquisition of the Property, for a purchase price
of Two Million Three Hundred Fifty Thousand Dollars ($2,350,000.00), in a form acceptable to
the City Attorney.
Section 3. The City Manager is further authorized' 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 of the
Property.
Section 4. Funding for the acquisition is allocated in an amount not to exceed Two
Million Four Hundred Twenty -Five Thousand Dollars ($2,425,000.00) from OCI Project No. 40-
B213507, District 2 Park Land Acquisition with additional funds allocated from a source to be
determined.
Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
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.
City of Miami Page 2 of 2 File ID: 8733 (Revision:) Printed on: 5/19/2025