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Home My WebLink AboutAgenda Item Cover PageAGENDA ITEM COVER PAGE File ID: #17742 Resolution Sponsored by: Commissioner Joe Carollo A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BY A FOUR -FIFTHS (4/STHS) AFFIRMATIVE VOTE, 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 AUYANTEPUY INVESTMENTS, LLC, A FLORIDA LIMITED LIABILITY COMPANY ("SELLER"), FOR THE ACQUISITION OF REAL PROPERTY IDENTIFIED AS FOLIO NUMBER(S) 01-4138-003-2280, 01-4138-003-2270, 01-4138-003-2260, 01- 4138-003-2250, 01-4138-003-2240 AND 01-4138-003-2150, LOCATED AT 901 SOUTHWEST 8TH STREET, 925 SOUTHWEST 8TH STREET, 939 SOUTHWEST 8TH STREET, 955 SOUTHWEST 8TH STREET, 965 SOUTHWEST 8TH STREET AND 922 SOUTHWEST 7TH STREET, MIAMI, FLORIDA (COLLECTIVELY "PROPERTY"), FORA PURCHASE PRICE OF FOURTEEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($14,500,000.00); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE AN ASSIGNMENT AND ASSUMPTION AGREEMENT ("ASSIGNMENT"), IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, OF THAT CERTAIN LEASE AGREEMENT ("LEASE") DATED DECEMBER 1, 2022, BETWEEN SELLER AND SELLER'S EXISTING TENANT, SANPOCHO RESTAURANT INC., A FLORIDA FOR PROFIT CORPORATION ("TENANT"), RESIDING ON A PORTION OF THE PROPERTY LOCATED AT 901 SOUTHWEST 8TH STREET AND 925 SOUTHWEST 8TH STREET ("LEASED PREMISES"); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, ASSIGNMENT AND LEASE, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AS MAY BE NECESSARY TO EFFECTUATE SAID ACQUISITION; AND, FURTHER AUTHORIZING THE CITY MANAGER TO ALLOCATE ELEVEN MILLION NINETY SIX THOUSAND THREE HUNDRED SEVENTY ONE DOLLARS ($11,096,371.00) PURSUANT TO SECTION 62-642 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), UPON THE CITY MANAGER'S RECOMMENDATION, FROM THE PUBLIC BENEFITS TRUST FUND, ACCOUNT NO. 10095, TO THE AFFORDABLE HOUSING TRUST FUND, ACCOUNT NO. 14008.910101.4810000.0000.00000; APPROPRIATING IN AN AMOUNT NOT TO EXCEED ELEVEN MILLION NINETY SIX THOUSAND THREE HUNDRED SEVENTY ONE DOLLARS ($11,096,371.00) FROM THE AFFORDABLE HOUSING TRUST FUND TO BE USED FOR THE ACQUISITION OF THE PROPERTY; FUNDING FOR THE ACQUISITION SHALL NOT EXCEED FOURTEEN MILLION SEVEN HUNDRED NINETY THOUSAND DOLLARS ($14,790,000.00) WITH FUNDS BEING ALLOCATED, APPROPRIATED, AND AWARDED FROM DISTRICT 3 MIAMI FOR EVERYONE PROGRAM FUNDS TRUST FUND IN AN AMOUNT NOT TO EXCEED ONE MILLION THREE HUNDRED SEVENTEEN THOUSAND SEVENTY DOLLARS ($1,317,070.00), FROM THE AFFORDABLE HOUSING TRUST FUND IN AN AMOUNT NOT TO EXCEED ELEVEN MILLION NINETY SIX THOUSAND THREE HUNDRED SEVENTY ONE DOLLARS ($11,096,371.00), AND FROM COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS IN AN AMOUNT NOT TO EXCEED TWO MILLION THREE HUNDRED SEVENTY SIX THOUSAND FIVE HUNDRED FIFTY NINE DOLLARS ($2,376,559.00) FOR A COMBINED TOTAL AMOUNT NOT TO EXCEED FOURTEEN MILLION SEVEN HUNDRED NINETY THOUSAND DOLLARS ($14,790,000.00), TO COVER THE COST OF SAID ACQUISITION, INCLUSIVE OF THE COST OF SURVEYS, ENVIRONMENTAL REPORTS, TITLE INSURANCE, SECURING THE PROPERTY, PROJECT SIGNAGE AND ALL RELATED CLOSING COSTS ASSOCIATED WITH SAID ACQUISITION, IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE AGREEMENT; AUTHORIZING THE CITY MANAGER TO MAKE ANY CHANGES TO ADJUST, AMEND, AND APPROPRIATE THE CITY'S OPERATING BUDGET, FIVE-YEAR FINANCIAL PLAN, STRATEGIC PLAN, AND MULTI -YEAR CAPITAL PLAN, AS NECESSARY AND APPLICABLE, PURSUANT TO THE PROVISIONS OF THIS RESOLUTION; AUTHORIZING, RATIFYING, APPROVING, AND CONFIRMING CERTAIN NECESSARY ACTIONS BY THE CITY MANAGER AND THE DESIGNATED CITY DEPARTMENTS TO UPDATE THE RELEVANT FINANCIAL CONTROLS, PROJECT CLOSE-OUTS, ACCOUNTING ENTRIES, AND COMPUTER SYSTEMS IN CONNECTION HEREWITH. City of Miami Legislation Resolution Enactment Number: R-25-0224 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 17742 Final Action Date:6/17/2025 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BY A FOUR -FIFTHS (4/STHS) AFFIRMATIVE VOTE, 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 AUYANTEPUY INVESTMENTS, LLC, A FLORIDA LIMITED LIABILITY COMPANY ("SELLER"), FOR THE ACQUISITION OF REAL PROPERTY IDENTIFIED AS FOLIO NUMBER(S) 01-4138-003-2280, 01-4138-003-2270, 01-4138-003-2260, 01- 4138-003-2250, 01-4138-003-2240 AND 01-4138-003-2150, LOCATED AT 901 SOUTHWEST 8TH STREET, 925 SOUTHWEST 8TH STREET, 939 SOUTHWEST 8TH STREET, 955 SOUTHWEST 8TH STREET, 965 SOUTHWEST 8TH STREET AND 922 SOUTHWEST 7TH STREET, MIAMI, FLORIDA (COLLECTIVELY "PROPERTY"), FORA PURCHASE PRICE OF FOURTEEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($14,500,000.00); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE AN ASSIGNMENT AND ASSUMPTION AGREEMENT ("ASSIGNMENT"), IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, OF THAT CERTAIN LEASE AGREEMENT ("LEASE") DATED DECEMBER 1, 2022, BETWEEN SELLER AND SELLER'S EXISTING TENANT, SANPOCHO RESTAURANT INC., A FLORIDA FOR PROFIT CORPORATION ("TENANT"), RESIDING ON A PORTION OF THE PROPERTY LOCATED AT 901 SOUTHWEST 8TH STREET AND 925 SOUTHWEST 8TH STREET ("LEASED PREMISES"); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, ASSIGNMENT AND LEASE, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AS MAY BE NECESSARY TO EFFECTUATE SAID ACQUISITION; AND, FURTHER AUTHORIZING THE CITY MANAGER TO ALLOCATE ELEVEN MILLION NINETY SIX THOUSAND THREE HUNDRED SEVENTY ONE DOLLARS ($11,096,371.00) PURSUANT TO SECTION 62-642 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CODE"), UPON THE CITY MANAGER'S RECOMMENDATION, FROM THE PUBLIC BENEFITS TRUST FUND, ACCOUNT NO. 10095, TO THE AFFORDABLE HOUSING TRUST FUND, ACCOUNT NO. 14008.910101.4810000.0000.00000; APPROPRIATING IN AN AMOUNT NOT TO EXCEED ELEVEN MILLION NINETY SIX THOUSAND THREE HUNDRED SEVENTY ONE DOLLARS ($11,096,371.00) FROM THE AFFORDABLE HOUSING TRUST FUND TO BE USED FOR THE ACQUISITION OF THE PROPERTY; FUNDING FOR THE ACQUISITION SHALL NOT EXCEED FOURTEEN MILLION SEVEN HUNDRED NINETY THOUSAND DOLLARS ($14,790,000.00) WITH FUNDS BEING ALLOCATED, APPROPRIATED, AND AWARDED FROM DISTRICT 3 MIAMI FOR EVERYONE PROGRAM FUNDS TRUST FUND IN AN AMOUNT NOT TO EXCEED ONE MILLION THREE HUNDRED SEVENTEEN THOUSAND SEVENTY DOLLARS ($1,317,070.00), FROM THE AFFORDABLE HOUSING TRUST FUND IN AN AMOUNT NOT TO EXCEED ELEVEN MILLION NINETY SIX THOUSAND THREE HUNDRED SEVENTY ONE DOLLARS ($11,096,371.00), AND FROM COMMUNITY DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS IN AN AMOUNT NOT TO EXCEED TWO MILLION THREE HUNDRED SEVENTY SIX THOUSAND FIVE HUNDRED FIFTY NINE DOLLARS ($2,376,559.00) FOR A COMBINED TOTAL AMOUNT NOT TO EXCEED FOURTEEN MILLION SEVEN HUNDRED NINETY THOUSAND DOLLARS ($14,790,000.00), TO COVER THE COST OF SAID ACQUISITION, INCLUSIVE OF THE COST OF SURVEYS, ENVIRONMENTAL REPORTS, TITLE INSURANCE, SECURING THE PROPERTY, PROJECT SIGNAGE AND ALL RELATED CLOSING COSTS ASSOCIATED WITH SAID ACQUISITION, IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE AGREEMENT; AUTHORIZING THE CITY MANAGER TO MAKE ANY CHANGES TO ADJUST, AMEND, AND APPROPRIATE THE CITY'S OPERATING BUDGET, FIVE-YEAR FINANCIAL PLAN, STRATEGIC PLAN, AND MULTI -YEAR CAPITAL PLAN, AS NECESSARY AND APPLICABLE, PURSUANT TO THE PROVISIONS OF THIS RESOLUTION; AUTHORIZING, RATIFYING, APPROVING, AND CONFIRMING CERTAIN NECESSARY ACTIONS BY THE CITY MANAGER AND THE DESIGNATED CITY DEPARTMENTS TO UPDATE THE RELEVANT FINANCIAL CONTROLS, PROJECT CLOSE-OUTS, ACCOUNTING ENTRIES, AND COMPUTER SYSTEMS IN CONNECTION HEREWITH. WHEREAS, the City of Miami ("City") wishes to acquire real property identified as folio number(s) 01-4138-003-2280, 01-4138-003-2270, 01-4138-003-2260, 01-4138-003-2250, 01- 4138-003-2240 and 01-4138-003-2150, located at 901 Southwest 8th Street, 925 Southwest 8th Street, 939 Southwest 8th Street, 955 Southwest 8th Street, 965 Southwest 8th Street And 922 Southwest 7th Street, Miami, Florida, as more particularly described in attached and incorporated Exhibit "B"; (collectively "Property"); and WHEREAS, the City plans to construct an affordable housing project on the Property to ameliorate the City's emergency need for affordable housing, which is in the best interest of the City and the community; and WHEREAS, Auyantepuy Investments, LLC, a Florida Limited Liability Company ("Seller") has agreed to enter into a Purchase and Sale Agreement ("Agreement"), with the City to sell the Property for a purchase price of Fourteen Million Five Hundred Thousand Dollars ($14,500,000.00) ("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 $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; and WHEREAS, Section 166.045(b), Florida Statutes, further states that if the agreed purchase price exceeds the average price of the two (2) appraisals, the governing body is required to approve the purchase by an extraordinary vote (a four -fifths (4/5ths) vote of the City Commission); and WHEREAS, the City has agreed to Seller's assignment of the Lease and assume the rights and obligations set forth therein to effectuate the City's acquisition of the Property as a condition to the Agreement; and WHEREAS, Section 62-642 of the Code of the City of Miami, Florida, as amended, ("City Code") established a trust fund entitled the Public Benefits Trust Fund," in order to collect the cash contributions made according to Ordinance No. 13114, the Zoning Code of the City of Miami, Florida, as amended ("Miami 21 Code"), to supplement affordable/workforce housing, public parks and open space, and green building certification shortfalls; and WHEREAS, Section 62-642 of the City Code further provides that the City Commission, upon the manager's recommendation, shall annually allocate funds collected; and WHEREAS, Section 62-642 of the City Code further indicates that all cash contributions allocated by the City Commission to support affordable/workforce housing shall be deposited in the Affordable Housing Trust Fund for expenditures pursuant to the guidelines adopted by the City Commission; and all cash contributions allocated by the City Commission to support parks and open space shall be deposited in the Parks and Open Space Trust Fund to be expended in accordance with the guidelines outlined therein; and WHEREAS, funds in an amount not to exceed Eleven Million Ninety Six Thousand Three Hundred Seventy One Dollars ($11,096,371.00) are to be allocated from the Public Benefits Trust Fund to the Affordable Housing Trust Fund; and WHEREAS, the City's estimated total cost for the acquisition of the Property shall not exceed Fourteen Million Seven Hundred Ninety Thousand Dollars ($14,790,000.00), with funds being allocated, appropriated, and awarded from District 3 Miami For Everyone Program Funds Trust Fund in an amount not to exceed One Million Three Hundred Seventeen Thousand Seventy Dollars ($1,317,070.00), from the Affordable Housing Trust Fund in an amount not to exceed Eleven Million Ninety Six Thousand Three Hundred Seventy One Dollars ($11,096,371.00), and from Community Development Block Grant ("CDBG") Funds in an amount not to exceed Two Million Three Hundred Seventy Six Thousand Five Hundred Fifty Nine Dollars ($2,376,559.00) for a combined total amount not to exceed Fourteen Million Seven Hundred Ninety Thousand Dollars ($14,790,000.00), to cover the cost of said acquisition, inclusive of the cost of surveys, environmental reports, title insurance, demolition, securing the property, project signage and all related closing costs associated with said acquisition, in accordance with the terms and conditions of the Agreement; 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, in a form acceptable to the City Attorney, for the acquisition of the Property for the Purchase Price. Section 3. The City Manager is further authorized1 to negotiate and execute an assignment and assumption agreement ("Assignment") of the Lease, in a form acceptable to the City Attorney, to effectuate the City's acquisition of the Property as a condition to the Agreement. Section 4. The City Manager is further authorized' to negotiate and execute all necessary documents, including amendments and modifications to said Agreement, Assignment and Lease, in a form acceptable to the City Attorney, as may be necessary to effectuate said acquisition. Section 5. The City Manager is further authorized1 to allocate funds, upon the City Manager's recommendation, in an amount not to exceed Eleven Million Ninety Six Thousand Three Hundred Seventy One Dollars ($11,096,371.00), from the Public Benefits Trust Fund, Account No. 10095, to the Affordable Housing Trust Fund, Account No. 14008.910101.4810000.0000.00000. Section 6. Authorizing the appropriation from the District 3 Miami For Everyone Program Funds Trust Fund in an amount not to exceed One Million Three Hundred Seventeen Thousand Seventy Dollars ($1,317,070.00), from the Affordable Housing Trust Fund in an amount not to exceed Eleven Million Ninety Six Thousand Three Hundred Seventy One Dollars ($11,096,371.00), and from Community Development Block Grant ("CDBG") Funds in an amount not to exceed Two Million Three Hundred Seventy Six Thousand Five Hundred Fifty Nine Dollars ($2,376,559.00) (CDBG Funds approved via separate Resolution) for a combined total amount not to exceed Fourteen Million Seven Hundred Ninety Thousand Dollars ($14,790,000.00), to be used for the acquisition of the Property. Section 7. Funding for the acquisition shall not exceed Fourteen Million Seven Hundred Ninety Thousand Dollars ($14,790,000.00) with funds being allocated, appropriated, and awarded from the District 3 Miami For Everyone Program Funds Trust Fund in an amount not to exceed One Million Three Hundred Seventeen Thousand Seventy Dollars ($1,317,070.00), from the Affordable Housing Trust Fund in an amount not to exceed Eleven Million Ninety Six Thousand Three Hundred Seventy One Dollars ($11,096,371.00), and from Community Development Block Grant ("CDBG") Funds in an amount not to exceed Two Million Three Hundred Seventy Six Thousand Five Hundred Fifty Nine Dollars ($2,376,559.00) for a combined total amount not to exceed Fourteen Million Seven Hundred Ninety Thousand Dollars ($14,790,000.00), to cover the cost of said acquisition, inclusive of the cost of surveys, environmental reports, title insurance, demolition, securing the property, project signage and all related closing costs associated with said acquisition, in accordance with the terms and conditions of the agreement. Section 8. The City Manager is further authorized' to make any changes to adjust, amend, and appropriate the City's operating budget, five-year financial plan, strategic plan, and multi -year capital plan, as necessary and applicable, pursuant to the provisions of this resolution. Section 9. Authorizing, ratifying, approving, and confirming certain necessary actions by the City Manager and the designated City departments to update the relevant financial controls, project close-outs, accounting entries, and computer systems in connection herewith.' Section 10. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 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. APPROVED AS TO FORM AND CORRECTNESS: g III, C y`attor y / 6/20/2025