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HomeMy WebLinkAboutLegislation-SUB 2025-06-17THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT City of Miami Resolution R-25-0224 Legislation 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 (4/5THS) 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"), FOR A 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 City of Miami 17742 Legislation -SUB Page 1 of 5 File ID: 17742 (Revision: B) Printed On: 8/25/2025 File ID: 17742 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT Enactment Number: R-25-0224 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; r' RATIFYING, APPROVING, AND CONFIRMING CERTAIN NECESSARY -.< ACTIONS BY THE CITY MANAGER AND THE DESIGNATED CITY I DEPARTMENTS TO UPDATE THE RELEVANT FINANCIAL CONTROLS, --` PROJECT CLOSE-OUTS, ACCOUNTING ENTRIES, AND COMPUTER SYSTEMS IN CONNECTION HEREWITH. .-s SPONSOR(S): Commissioner Joe Carollo 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 City of Miami Page 2 of 5 File ID: 17742 (Revision: B) Printed on: 8/25/2025 File ID: 17742 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT Enactment Number: R-25-0224 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 thie 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 Resolutiorr_arer -, hereby adopted by reference thereto and incorporated herein as if fully set forth in this ectiow 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 authorized' 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 City of Miami Page 3 of 5 File ID: 17742 (Revision: B) Printed on: 8/25/2025 File ID: 17742 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT Enactment Number: R-25-0224 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 authorized' to allocate funds, upon the City Manager's recommendation, in an amount not to exceed Eleven Million Ninety Six Ttiausarld 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. z 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 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 4 of 5 File ID: 17742 (Revision: B) Printed on: 8/25/2025 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT File ID: 17742 signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: ge Wyy' ng III, Cty ttor Enactment Number: R-25-0224 6/25/2025 e,, ge Wyy ng III,, City -ttor y 8/22/2025 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. City of Miami Page 5 of 5 File ID: 17742 (Revision: B) Printed on: 8/25/2025 SUBSTITUTED ITHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BAC ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT City of Miami Legisfalioii ' 17 .'1 8: 27 Resolittinn 'E_ „IT'( CL" City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.co File Number: 17742 Final Actio •ate: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHME BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AUTHORIZING T MANAGER TO NEGOTIATE AND EXECUTE A PURCHASE A AGREEMENT ("AGREEMENT"), IN A FORM ACCEPTABLE TO ATTORNEY, BETWEEN THE CITY OF MIAMI ("CITY") AND INVESTMENTS, LLC, A FLORIDA LIMITED LIABILITY COMPA FOR THE ACQUISITION OF REAL PROPERTY IDENTI NUMBER(S) 01-4138-003-2280, 01-4138-003-2270, 01-4 4138-003-2250, 01-4138-003-2240 AND 01-4138-003-215 SOUTHWEST 8TH STREET, 925 SOUTHWEST SOUTHWEST 8TH STREET, 955 SOUTHWES SOUTHWEST 8TH STREET AND 922 SOUTHW FLORIDA (COLLECTIVELY "PROPERTY"), FO FOURTEEN MILLION FIVE HUNDRE ($14,500,000.00); FURTHER AUTHORIZIN NEGOTIATE AND EXECUTE AN AS AGREEMENT ("ASSIGNMENT"), IN A F ATTORNEY, OF THAT CERTAIN LE DECEMBER 1, 2022, BETWEEN SEL SANPOCHO RESTAURANT INC., ("TENANT"), RESIDING ON A P 901 SOUTHWEST 8TH STR ("LEASED PREMISES"); FUR NEGOTIATE AND EXECUT AMENDMENTS AND MO AND LEASE, IN A FOR NECESSARY TO E AUTHORIZING TH NINETY SIX TH ($11,096,371.00) CITY OF MIA MANAGER' FUND, A FUND, IN AN THR AF (S), CITY SALE HE CITY ANTEPUY ("SELLER"), D AS FOLIO 8-003-2260, 01- , LOCATED AT 901 TH STREET, 939 8TH STREET, 965 7TH STREET, MIAMI, PURCHASE PRICE OF THOUSAND DOLLARS THE CITY MANAGER TO NMENT AND ASSUMPTION M ACCEPTABLE TO THE CITY AGREEMENT ("LEASE") DATED R AND SELLER'S EXISTING TENANT, LORIDA FOR PROFIT CORPORATION TION OF THE PROPERTY LOCATED AT AND 925 SOUTHWEST 8TH STREET ER AUTHORIZING THE CITY MANAGER TO ALL NECESSARY DOCUMENTS, INCLUDING (CATIONS TO SAID AGREEMENT, ASSIGNMENT CCEPTABLE TO THE CITY ATTORNEY, AS MAY BE ECTUATE SAID ACQUISITION; AND, FURTHER CITY MANAGER TO ALLOCATE ELEVEN MILLION SAND THREE HUNDRED SEVENTY ONE DOLLARS URSUANT TO SECTION 62-642 OF THE CODE OF THE FLORIDA, AS AMENDED ("CITY CODE"), UPON THE CITY ECOMMENDATION, FROM THE PUBLIC BENEFITS TRUST OUNT NO. 10095, TO THE AFFORDABLE HOUSING TRUST COUNT NO. 14008.910101.4810000.0000.00000; APPROPRIATING OUNT NOT TO EXCEED ELEVEN MILLION NINETY SIX THOUSAND HUNDRED SEVENTY ONE DOLLARS ($11,096,371.00) FROM THE RDABLE HOUSING TRUST FUND TO BE USED FOR THE ACQUISITION THE PROPERTY; FUNDING FOR THE ACQUISITION SHALL NOT EXCEED OURTEEN 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 17742 Legislation -SUB SUBSTITUTED THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BAC ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT w Ad rr 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, ENVIRONMENTA REPORTS, TITLE INSURANCE, SECURING THE PROPERTY, PROJE SIGNAGE AND ALL RELATED CLOSING COSTS ASSOCIATED WITH ID r— ACQUISITION, IN ACCORDANCE WITH THE TERMS AND CONDITIO OF N 711E AGREEMENT; AUTHORIZING THE CITY MANAGER TO MA ANY 41-IANGES TO ADJUST, AMEND, AND APPROPRIATE TH. CITY'S OPERATING BUDGET, FIVE-YEAR FINANCIAL PLAN, STRAT- IC PLAN, ▪ AND MULTI -YEAR CAPITAL PLAN, AS NECESSARY AND • PLICABLE, r� PURSUANT TO THE PROVISIONS OF THIS RESOLUTION; UTHORIZING, RATIFYING, APPROVING, AND CONFIRMING CERTNECESSARY ACTIONS BY THE CITY MANAGER AND THE • SIGNATED CITY N I3EPARTMENTS TO UPDATE THE RELEVANT FIN CIAL CONTROLS, • RROJECT CLOSE-OUTS, ACCOUNTING ENTRI AND COMPUTER SYSTEMS IN CONNECTION HEREWITH. i WHEREAS, the City of Miami ("City") wishes to quire real property identified as folio number(s) 01-4138-003-2280, 01-4138-003-2270, 01 38-003-2260, 01-4138-003-2250, 01- 4138-003-2240 and 01-4138-003-2150, located at 90 outhwest 8th Street, 925 Southwest 8th Street, 939 Southwest 8th Street, 955 Southwest 8 Street, 965 Southwest 8th Street And 922 Southwest 7th Street, Miami, Florida, as m• e particularly described in attached and incorporated Exhibit "B"; (collectively "Property" and WHEREAS, the City plans to const ct 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 In stments, LLC, a Florida Limited Liability Company ("Seller") has agreed to enter into a Purch. •e and Sale Agreement ("Agreement"), with the City to sell the Property for a purchase p ' e of Fourteen Million Five Hundred Thousand Dollars ($14,500,000.00) ("Purchase ' rice"); and WHEREAS, purs = nt to Section 166.045(b), Florida Statutes, titled "Proposed Purchase of Real Property by Mu cipality; Confidentiality of Records; Procedure," for each purchase in an amount in excess of 00,000.00, the governing body shall obtain at least two (2) appraisals by appraisers approv- - pursuant to Section 253.025, Florida Statutes; and WHER- S, the City obtained two (2) appraisal reports from licensed State of Florida certified appr sers; and EREAS, Section 166.045(b), Florida Statutes, further states that if the agreed purcha price exceeds the average price of the two (2) appraisals, the governing body is requi ' d to approve the purchase by an extraordinary vote (i.e. a four -fifths (4/5ths) vote of the Ci ommission); 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 SUBSTITUTED THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACK ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. 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 o Miami, Florida, as amended ("Miami 21 Code"), to supplement affordable/workfor 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 Com, Ission, upon the manager's recommendation, shall annually allocate funds collected; and WHEREAS, Section 62-642 of the City Code further indicates that all cas► contributions allocated by the City Commission to support affordable/workforce housing shal •e deposited in the Affordable Housing Trust Fund for expenditures pursuant to the guidelin:. adopted by the City Commission; and all cash contributions allocated by the City Commiss'• n to support parks and open space shall be deposited in the Parks and Open Space Trust F d to be expended in accordance with the guidelines outlined therein; and VVEIEREAS, funds in an amount not to exceed Eleven Millio inety Six Thousand Three Hundred Seventy One Dollars ($11,096,371.00) are to be alloc ed from the Public Benefits Tret Fund to the Affordable Housing Trust Fund; and AREAS, the City's estimated total cost for the expeed'Fburteen Million Seven Hundred Ninety Thousan being allocated, appropriated, and awarded from Distri Tr Futid in an amount not to exceed One Milli SevIntyy1 `ollars ($1,317,070.00), from the Afforda exd ;Eleven Million Ninety Six Thousa ($19",'09 71.00), and from Community Dev amount not to exceed Two Million Three H Nine Dollars ($2,376,559.00) for a combine Hundred Ninety Thousand Dollars ($1 inclusive of the cost of surveys, enviro property, project signage and all r accordance with the terms and con NOW, THEREFORE, MIAMI, FLORIDA: quisition of the Property shall not ollars ($14,790,000.00), with funds 3 Miami For Everyone Program Funds Three Hundred Seventeen Thousand Housing Trust Fund in an amount not to Three Hundred Seventy One Dollars pment Block Grant ("CDBG") Funds in an dred Seventy Six Thousand Five Hundred Fifty total amount not to exceed Fourteen Million Seven 90,000.00), to cover the cost of said acquisition, ental reports, title insurance, demolition, securing the ted closing costs associated with said acquisition, in ions of the Agreement; IT RESOLVED BY THE COMMISSION OF THE CITY OF Section 1. The r itals and findings contained in the Preamble to this Resolution are hereby adopted by refence thereto and incorporated herein as if fully set forth in this Section. Section 2. e City Manager is authorized' to negotiate and execute the Agreement, between the City nd Seller, in a form acceptable to the City Attorney, for the acquisition of the Property for th ' urchase Price. assignm CityA Agre: ent. Sec • n 3. The City Manager is further authorized' to negotiate and execute an and assumption agreement ("Assignment") of the Lease, in a form acceptable to the rney, to effectuate the City's acquisition of the Property as a condition to the • . - Section 4. The City Manager is further authorized' to negotiate and execute all ecessary 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. SUBSTITUTED THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACK ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. signature of the Ma Section 5. The City Manager is further authorized' 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 N 14008.910101.4810000.0000.00000. • P • Section 7. Funding for the acquisition shall not exceed Fourt= n Million Seven Hundred Ninety Thousand Dollars ($14,790,000.00) with funds being alloca d, appropriated, and awarded from the District 3 Miami For Everyone Program Funds ust Fund in an amount not to exceed One Million Three Hundred Seventeen Thousand Sev= Dollars ($1,317,070.00), from the Affordable Housing Trust Fund in an amount not to exce= - Eleven Million Ninety Six Thousand Three Hundred Seventy One Dollars ($11,096,3 .00), and from Community Development Block Grant ("CDBG") Funds in an amoun of to exceed Two Million Three Hundred Seventy Six Thousand Five Hundred Fifty Ni Dollars ($2,376,559.00) for a combined total amount not to exceed Fourteen Million Seven ndred Ninety Thousand Dollars ($14,790,000.00), to cover the cost of said acquisi in, inclusive of the cost of surveys, environmental reports, title insurance, demolitio securing the property, project signage and all related closing costs associated with said acq ition, in accordance with the terms and conditions of the agreement. Section 8. The City Manager is f her authorized' to make any changes to adjust, amend, and appropriate the City's op- sting budget, five-year financial plan, strategic plan, and multi -year capital plan, as necessa nd applicable, pursuant to the provisions of this resolution. Section 9. Authorizin the City Manager and the d project close-outs, accou atifying, approving, and confirming certain necessary actions by gnated City departments to update the relevant financial controls, g entries, and computer systems in connection herewith.' • Section 10. T Resolution shall become effective immediately upon its adoption aft -70 3a co rV J r. 2 APPROVED A 0 FORM AND CORRECTNESS: ' e herein authorization is further subject to compliance with all legal requirements that may be posed, 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. Section 6. Authorizing the appropriation from the District 3 Miami For Everyone gram Funds Trust Fund in an amount not to exceed One Million Three Hundred Seventeen T usand Seventy Dollars ($1,317,070.00), from the Affordable Housing Trust Fund in an amo not to exceed Eleven Million Ninety Six Thousand Three Hundred Seventy One Dollars ($11,096,371.00), and from Community Development Block Grant ("CDBG") Fun- in an amount not to exceed Two Million Three Hundred Seventy Six Thousand Five ' ndred Fifty Nine Dollars ($2,376,559.00) (CDBG Funds approved via separate Resoluti. for a combined total amount not to exceed Fourteen Million Seven Hundred Ninety Thous d Dollars ($14,790,000.00), to be used for the acquisition of the Property. City of Miami Resolution Legislation I SUBSTITUTED City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 17742 Final Actio 'ate: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT( BYA FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AUTHORIZING THE C MANAGER TO NEGOTIATE AND EXECUTE A PURCHASE AND SALE AGREEMENT ("AGREEMENT"), IN A FORM ACCEPTABLE TO THE CI ATTORNEY, BETWEEN THE CITY OF MIAMI ("CITY") AND AUYANT INVESTMENTS, LLC, A FLORIDA LIMITED LIABILITY COMPANY (" FOR THE ACQUISITION OF REAL PROPERTY IDENTIFIED AS F NUMBER(S) 01-4138-003-2280, 01-4138-003-2270, 01-4138-0 4138-003-2250, 01-4138-003-2240 AND 01-4138-003-2150, L SOUTHWEST 8TH STREET, 925 SOUTHWEST 8TH STRE SOUTHWEST 8TH STREET, 955 SOUTHWEST 8TH ST SOUTHWEST 8TH STREET AND 922 SOUTHWEST 7 FLORIDA (COLLECTIVELY "PROPERTY"), FOR A P FOURTEEN MILLION FIVE HUNDRED THOUSAN ($14,500,000.00); FURTHER AUTHORIZING TH NEGOTIATE AND EXECUTE A LEASE AGREE ACCEPTABLE TO THE CITY ATTORNEY, BE SELLER'S EXISTING TENANT, SANPOCH FOR PROFIT CORPORATION ("TENANT' THE PROPERTY LOCATED AT 901 SO SOUTHWEST 8TH STREET ("LEAS AUTHORIZING THE CITY MANAG NECESSARY DOCUMENTS, INC MODIFICATIONS TO SAID AG ACCEPTABLE TO THE CITY EFFECTUATE SAID ACQU THE CODE OF THE CITY FURTHER AUTHORIZI FUNDS, UPON THE PUBLIC BENEFITS AFFORDABLE H 14008.910101. FROM THE ACQUISITI SHALL N THOUS APP PR c' ET, 965 ma STREET, MIAMI, lot. —' CHASE PRICE OF ', OLLARS ITY MANAGER TO = ca NT ("LEASE"), IN A FORM EN THE CITY AND "J ESTAURANT INC., A FLORIDA , RESIDING ON A PORTION OF HWEST 8TH STREET AND 925 PREMISES"); FURTHER TO NEGOTIATE AND EXECUTE ALL DING AMENDMENTS AND EMENTAND LEASE, IN A FORM ORNEY, AS MAY BE NECESSARY TO TION; AND, PURSUANT TO SECTION 62-642 OF F MIAMI, FLORIDA, AS AMENDED ("CITY CODE"); THE CITY MANAGER TO ALLOCATE CERTAIN MANAGER'S RECOMMENDATION, FROM THE RUST FUND, ACCOUNT NO. 10095, TO THE SING TRUST FUND, ACCOUNT NO. 10000.0000.00000; APPROPRIATING CERTAIN FUNDS ORDABLE HOUSING TRUST FUND TO BE USED FOR THE OF THE PROPERTY; FUNDING FOR THE ACQUISITION EXCEED FOURTEEN MILLION SEVEN HUNDRED NINETY D DOLLARS ($14,790,000.00) WITH FUNDS BEING ALLOCATED, PRIATED, AND AWARDED FROM DISTRICT 3 MIAMI FOR EVERYONE RAM FUNDS TRUST FUND AND THE AFFORDABLE HOUSING TRUST F D IN A COMBINED TOTAL AMOUNT NOT TO EXCEED FOURTEEN ILLION 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 UY LLER"), LIO N -2260, 01- ATED AT 90f 939 City of Miami Page 1 of 4 File ID: 17742 (Revision:) Printed On: 6/17/2025 SUBSTITUTED File ID: 17742 Enactment Number: 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 -71 PLAN, STRATEGIC PLAN, AND MULTI -YEAR CAPITAL PLAN, AS, NECESSARY AND APPLICABLE, PURSUANT TO THE PROVISIONS OF THISI RESOLUTION; AUTHORIZING, RATIFYING, APPROVING, AND CONFIRMgQ CERTAIN NECESSARY ACTIONS BY THE CITY MANAGER AND THE DESIGNATED CITY DEPARTMENTS TO UPDATE THE RELEVANT FINANCP CONTROLS, PROJECT CLOSE-OUTS, ACCOUNTING ENTRIES, AND COMPUTER SYSTEMS IN CONNECTION HEREWITH. 3 SPONSOR(S): Commissioner Joe Carollo • co N WHEREAS, the City of Miami ("City") wishes to acquire real proper identified as folio number(s) 01-4138-003-2280, 01-4138-003-2270, 01-4138-003-2260, 0-4138-003-2250, 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 So hwest 8th Street And 922 Southwest 7th Street, Miami, Florida, as more particularly describ-• in attached and incorporated Exhibit "B"; (collectively "Property"); and WHEREAS, the City plans to construct an affordabl- ousing project on the Property to ameliorate the City's emergency need for affordable hous g, which is in the best interest of the City and the community; and WHEREAS, Auyantepuy Investments, LLC, lorida Limited Liability Company ("Seller") has agreed to enter into a Purchase and Sale Agr• -ment ("Agreement"), with the City to sell the Property for a purchase price of Fourteen Millio► ive Hundred Thousand Dollars ($14,500,000.00) ("Purchase Price"); and WHEREAS, pursuant to Section 1 ' •.045(b), Florida Statutes, titled "Proposed Purchase of Real Property by Municipality; Confi• tiality of Records; Procedure," for each purchase in an amount in excess of $500,000.00, th= •overning body shall obtain at least two (2) appraisals by appraisers approved pursuant to S= ion 253.025, Florida Statutes; and WHEREAS, the City ob ned two (2) appraisal reports from licensed State of Florida certified appraisers; and WHEREAS, Secti ' 166.045(b), Florida Statutes, further states that if the agreed purchase price exceed- e average price of the two (2) appraisals, the governing body is required to approve t► - purchase by an extraordinary vote (Le. a four -fifths (4/5ths) vote of the City Commission); d WHER- S, the City has agreed to enter into a Lease Agreement ("Lease"), with the Seller's exist", tenant, Sanpocho Restaurant Inc., a Florida For Profit Corporation ("Tenant"), residing on portion of the Property located at 901 Southwest 8th Street and 925 Southwest 8th Street (" ased Premises"), to effectuate the City's acquisition of the Property as a condition to the Agrment; and WHEREAS, Section 62-642 of the Code of the City of Miami, Florida, as amended, ("City ode") 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 City of Miami Page 2 of 4 File ID: 17742 (Revision:) Printed on: 647/2025 SUBSTITUTED File ID: 17742 Enactment Number; 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 Commissio upon the manager's recommendation, shall annually allocate funds collected; and WHEREAS, Section 62-642 of the City Code further indicates that all cash contr - tions allocated by the City Commission to support affordable/workforce housing shall be de, •sited in the Affordable Housing Trust Fund for expenditures pursuant to the guidelines ado • -d by the City Commission; and all cash contributions allocated by the City Commission to - i pport parks and open space shall be deposited in the Parks and Open Space Trust Fund to 4e expended in accordance with the guidelines outlined therein; and WHEREAS, certain funds are to be allocated from the Public Ben s Trust Fund to the Affordable Housing Trust Fund, pursuant to the attached and incorpora d Exhibit "A"; and WHEREAS, the City's estimated total cost for the acquisitio exceed Fourteen Million Seven Hundred Ninety Thousand Dollar being allocated, appropriated, and awarded from the District 3 Funds and Affordable Housing Trust Fund in a combined tota Million Seven Hundred Ninety Thousand Dollars ($14,790, acquisition, inclusive of the cost of surveys, environment securing the property, project signage and all related cl acquisition, in accordance with the terms and conditi NOW, THEREFORE, BE IT RESOLVED MIAMI, FLORIDA: f the Property shall not $14,790,000.00), WIth figyis ami for Everyone Prestanf mount not to exceed.irteten .00), to cover the cost fsaid eports, title insurance, detha,lition, ing costs associated with s s of the Agreement; c a3310 THE COMMISSION OF THE CITYF-4 °O tV Section 1. The recitals and finding ontained in the Preamble to this Resolution are hereby adopted by reference thereto and corporated herein as if fully set forth in this Section. Section 2. The City Manager authorized' to negotiate and execute the Agreement, between the City and Seller, in a f• acceptable to the City Attorney, for the acquisition of the Property for the Purchase Price. Section 3. The City = nager is further authorized' to negotiate and execute the Lease, between the City and Ten , in a form acceptable to the City Attorney, to effectuate the City's acquisition of the Prope ► as a condition to the Agreement. Section 4. necessary docum in a form accept Secti City Mana the Affor T City Manager is further authorized' to negotiate and execute all s, including amendments and modifications to said Agreement and Lease, e to the City Attorney, as may be necessary to effectuate said acquisition. 5. The City Manager is further authorized' to allocate certain funds, upon the is recommendation, from the Public Benefits Trust Fund, Account No. 10095, to ble Housing Trust Fund, Account No. 14008.910101.4810000.0000.00000. Section 6. Authorizing the appropriation of certain funds from the District 3 Miami for he 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 3 of 4 File ID: 17742 (Revision:) Printed on: 6/17/2025 SUBSTITUTED File ID: 17742 Enactment Number: Everyone Program Funds and the Affordable Housing Trust Fund to be used for the acquisition of the Property. Section 7. Funding for the acquisition shall not exceed Fourteen Million Seven Hundr Ninety Thousand Dollars ($14,790,000.00) with funds being allocated, appropriated, and awarded from the District 3 Miami for Everyone Program Funds and Affordable Housing T s Fund, in 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 - cost of surveys, environmental reports, title insurance, demolition, securing the property, pr, -ct signage and all related closing costs associated with said acquisition, in accordan ' - with the terms and conditions of the agreement. Section 8. The City Manager is further authorized' to make any cha amend, and appropriate the City's operating budget, five-year financial pl multi -year capital plan, as necessary and applicable, pursuant to the pr resolution. es to adjust, , strategic plan, and sions of this Section 9. Authorizing, ratifying, approving, and confirmin • ertain necessary actions by the City Manager and the designated City departments to upda - the relevant financial controls, project close-outs, accounting entries, and computer systems ' connection herewith.' Section 10. This Resolution shall become effectiv mediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days rom 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. City of Miami Page 4 of 4 File ID: 17742 (Revision:) Printed on: 6/17/2025