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Home My WebLink AboutAgenda Item Cover PageAGENDA ITEM COVER PAGE File ID: #13954 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 WEST FLAGLER ASSOCIATES, LTD., A FLORIDA LIMITED PARTNERSHIP ("SELLER"), FOR THE ACQUISITION OF REAL PROPERTY LOCATED AT 425 NORTHWEST 37 AVENUE, MIAMI, FLORIDA (FOLIO NO. 01- 4104-023-0200), 435 NORTHWEST 37 AVENUE, MIAMI, FLORIDA (FOLIO NO. 01- 4104-023-0190), AND 445 NORTHWEST 37 AVENUE (FOLIO NO. 01-4104-023-0180) (COLLECTIVELY, "PROPERTY"), FOR A PURCHASE PRICE OF THREE MILLION, FOUR HUNDRED SEVENTY-NINE THOUSAND AND 00/100 DOLLARS ($3,479,000.00); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE 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 THE DISTRICT 4 COMMISSIONER'S SHARE OF THE MIAMI FOREVER LIMITED AD VALOREM BOND FUNDS FOR SEA LEVEL RISE MITIGATION AND FLOOD PREVENTION PROJECTS, SPECIFICALLY EAST FLAGAMI FLOOD MITIGATION (PUMP STATION) PROJECT, PROJECT NO. 40- B223801, IN AN AMOUNT NOT TO EXCEED THREE MILLION, FIVE HUNDRED FIFTY-FOUR THOUSAND AND 00/100 DOLLARS ($3,554,000.00), 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, IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE AGREEMENT. City of Miami Legislation Resolution Enactment Number: R-23-0226 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 13954 Final Action Date:5/11/2023 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 WEST FLAGLER ASSOCIATES, LTD., A FLORIDA LIMITED PARTNERSHIP ("SELLER"), FOR THE ACQUISITION OF REAL PROPERTY LOCATED AT 425 NORTHWEST 37 AVENUE, MIAMI, FLORIDA (FOLIO NO. 01- 4104-023-0200), 435 NORTHWEST 37 AVENUE, MIAMI, FLORIDA (FOLIO NO. 01- 4104-023-0190), AND 445 NORTHWEST 37 AVENUE (FOLIO NO. 01-4104-023-0180) (COLLECTIVELY, "PROPERTY"), FOR A PURCHASE PRICE OF THREE MILLION, FOUR HUNDRED SEVENTY-NINE THOUSAND AND 00/100 DOLLARS ($3,479,000.00); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE 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 THE DISTRICT 4 COMMISSIONER'S SHARE OF THE MIAMI FOREVER LIMITED AD VALOREM BOND FUNDS FOR SEA LEVEL RISE MITIGATION AND FLOOD PREVENTION PROJECTS, SPECIFICALLY EAST FLAGAMI FLOOD MITIGATION (PUMP STATION) PROJECT, PROJECT NO. 40- B223801, IN AN AMOUNT NOT TO EXCEED THREE MILLION, FIVE HUNDRED FIFTY-FOUR THOUSAND AND 00/100 DOLLARS ($3,554,000.00), 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, IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE AGREEMENT. WHEREAS, the City of Miami ("City") wishes to acquire the real property located at 425 Northwest 37 Avenue, Miami, Florida (Folio No. 01-4104-023-0200), 435 Northwest 37 Avenue, Miami, Florida (Folio No. 01-4104-023-0190), and 445 Northwest 37 Avenue, Miami, Florida (Folio No. 01-4104-023-0180) (collectively, "Property"); and WHEREAS, West Flagler Associates, Ltd., a Florida Limited Partnership ("Seller"), has 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 Million, Four Hundred Seventy -Nine Thousand and 00/100 Dollars ($3,479,000.00) ("Purchase Price"); and WHEREAS, pursuant to Section 166.045(b), Florida Statutes, titled "Proposed Purchase of Real Property by Municipality; Confidentiality of Records; Procedure," for each purchase in an amount in excess of Five Hundred Thousand and 00/100 Dollars ($500,000.00), the governing body shall obtain at least two (2) appraisals by appraisers approved pursuant to Section 253.025, Florida Statutes; and WHEREAS, the City obtained two (2) appraisal reports from licensed State of Florida certified appraisers stating that the average appraised value of the Property is at least the Purchase Price; and WHEREAS, the City's total cost for the acquisition of the Property shall not exceed Three Million, Five Hundred Fifty -Four Thousand and 00/100 Dollars ($3,554,000.00), which is inclusive of the Purchase Price as well as all closing costs and related costs pertaining to the acquisition; and WHEREAS, as part of the acquisition of the Property, the Seller will assign to the City the lease for the outdoor advertising billboard ("Billboard") currently on the Property; and WHEREAS, as part of the assignment of the Billboard lease, all maintenance and liability relating to the operation of the Billboard shall remain with the tenant of the Billboard lease at tenant's sole cost and expense, and the Billboard shall be removed at tenant's sole expense upon the termination of the lease on April 30, 2024; and WHEREAS, funds for the acquisition of the Property, including the Purchase Price and all closing costs and related costs, shall be allocated from the District 4 Commissioner's share of the Miami Forever Limited Ad Valorem Bond funds for Sea Level Rise Mitigation and Flood Prevention projects, specifically East Flagami Flood Mitigation (Pump Station) Project, Project No. 40-B223801; and WHEREAS, such allocation shall be in compliance with all applicable Federal, State of Florida ("State"), local, and City laws, rules, and regulations for affordable housing projects, including but not limited to the City's Tranche 2 Sea Level Rise Mitigation and Flood Prevention projects, the Tranche 2 Sea Level Rise Mitigation and Flood Prevention projects Intent to Reimburse Resolution No. R-21-0504 adopted December 9, 2021, and the Tranche 2 Miami Forever Limited Ad Valorem Bonds; 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, in a form acceptable to the City Attorney, between the City and the Seller, for the acquisition of the Property, for the Purchase Price. Section 3. The City Manager is further authorized1 to negotiate and execute all other necessary documents, including, but not limited to, amendments, modifications, assignments, assumptions, and transfers, in a form acceptable to the City Attorney, as may be necessary to effectuate said acquisition. Section 4. The City Manager shall allocate and appropriate necessary funds in an amount not to exceed Three Million, Five Hundred Fifty -Four Thousand and 00/100 Dollars ($3,554,000.00), for the costs of acquisition, including without limitation, the Purchase Price, cost of survey, environmental reports, title insurance, demolition, securing the property, project signage, and all closing costs associated with said acquisition, allocating funds from the District 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. 4 Commissioner's share of the Miami Forever Limited Ad Valorem Bond funds for Sea Level Rise Mitigation and Flood Prevention projects, specifically East Flagami Flood Mitigation (Pump Station) Project, Project No. 40-B223801, subject to compliance with all applicable Federal, State of Florida ("State"), local, and City laws, rules, and regulations for affordable housing projects, including but not limited to the City's Tranche 2 Sea Level Rise Mitigation and Flood Prevention projects, the Tranche 2 Sea Level Rise Mitigation and Flood Prevention projects Intent to Reimburse Resolution No. R-21-0504 adopted December 9, 2021, and the Tranche 2 Miami Forever Limited Ad Valorem Bonds. Section 5. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTNESS: nde Attor ey 5/2/2023 ndez, City Attor ey 7/11/2023