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Home My WebLink AboutMaster ReportCity of Miami Master Report Enactment Number: R-25-0297 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 17246 Revision: A File Type: Resolution Status: ADOPTED WITH MODIFICATION(S) Controlling Body: City Commission File Name: Authorize - Purchase/Sale Agrmnt - Ecoresiliency Introduced: 2/13/2025 Miami LLC - Parrot Jungle Trail Requesting Dept: Department of Real Estate and Asset Final Action Date: 7/24/2025 Management Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BYA FOUR -FIFTHS (4/STHS) AFFIRMATIVE VOTE, PURSUANT TO SECTION 29-C OF THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, WAIVING COMPETITIVE BIDDING AND AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A PURCHASE AND SALE AGREEMENT WITH ECORESILIENCY MIAMI, LLC ( "DEVELOPER" ) FOR THE SALE, UPON SATISFACTION OF CERTAIN CLOSING CONDITIONS, OF +5.4 ACRES OF THAT CERTAIN PROPERTY LOCATED AT 1111 PARROT JUNGLE TRAIL ("PROPERTY") FOR RESIDENTIAL AND COMMERCIAL USES, IN EXCHANGE FOR CANCELLATION OF THE EXISTING LEASE AND CONSIDERATION EQUAL TO OR GREATER THAN FAIR MARKET VALUE OF ONE HUNDRED THIRTY-FIVE MILLION DOLLARS ($135,000,000.00), INCLUDING DEVELOPMENT OF A NEW +13.3-ACRE PUBLIC WATERFRONT PARK ON THE REMAINDER OF PROPERTY AT A COST TO DEVELOPER OF THIRTY SEVEN MILLION DOLLARS ($37,000,000.00), PAYMENTS TO CITY OF TEN MILLION DOLLARS ($10,000,000.00) AT CLOSING AND TWO MILLION DOLLARS ($2,000,000) PER YEAR WITH ANNUAL ESCALATIONS OF THREE PERCENT (3%) AND A PRESENT VALUE OF ONE HUNDRED THIRTEEN MILLION SEVEN HUNDRED TWENTY ONE THOUSAND AND SEVENTY-THREE DOLLARS ($113,721,073) OVER NINETY-NINE YEARS, AND CERTAIN COMMUNITY BENEFITS VALUED AT THIRTY- NINE MILLION SIX -HUNDRED THOUSAND DOLLARS ($39,600,000), INCLUDING PAYMENTS TO THE CITY OF FIFTEEN MILLION DOLLARS ($15,000,000.00) FOR AFFORDABLE HOUSING, FIVE MILLION DOLLARS ($5,000,000.00) FOR CONSTRUCTION OF A NEW FIRE STATION ON WATSON ISLAND, AND INFRASTRUCTURE IMPROVEMENTS; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A PARTIAL RELEASE AND MODIFICATION OF THE DEED RESTRICTIONS SET FORTH IN DEED NO. 19447 ( "STATE DEED" ) BETWEEN THE CITY AND THE STATE OF FLORIDA INTERNAL IMPROVEMENT TRUST FUND ( "STATE" ); APPROVAL OF PAYMENT BY CITY TO THE STATE IN THE AMOUNT OF FIFTEEN MILLION DOLLARS ($15,000,000.00) IN EXCHANGE FOR THE STATE' S RELEASE AND MODIFICATION OF RESTRICTIONS SET FORTH IN THE STATE DEED; FURTHER PROVIDING, THAT THE DISTRIBUTION OF CITY' S CLOSING PROCEEDS, INCLUDING TEN MILLION DOLLARS ($10,000,000.00) CASH AT CLOSING, DEVELOPER' S PAYOFF OF CITY' S DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ( "HUD" ) LOAN IN THE AMOUNT OF TWENTY-TWO MILLION DOLLARS ($22,000,000.00), AND FIFTEEN MILLION DOLLARS ($15,000,000.00) FOR AFFORDABLE HOUSING, TOTALING APPROXIMATELY FORTY-SEVEN MILLION DOLLARS ($47,000,000.00), BE ALLOCATED, AS MORE SPECIFICALLY DESCRIBED HEREINBELOW; AUTHORIZING THE CITY MANAGER TO EXECUTE A QUIT -CLAIM DEED TO DEVELOPER, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY; PROVIDING, City of Miami Page 1 of 3 Printed on: 9/2/2025 City of Miami Master Report City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Enactment Number: R-25-0297 THAT SUCH SALE AND CONVEYANCE BE SUBJECT TO APPROVAL AND EXECUTION OF AN AGREEMENT WITH THE STATE THROUGH THE STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION; AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE OTHER ANCILLARY DOCUMENTS AND AMENDMENTS REQUIRED TO EFFECTUATE THE SALE AND DEVELOPMENT OF THE PROPERTY AS SET FORTH IN THE PURCHASE AND SALE AGREEMENT, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY. Notes: Links: Attachments: 17246 Exhibit A -SUB (PDF) 17246 Exhibit B (PDF) 17246 Notice to the Public CC 2/27/25 (PDF) 17246 Notice to the Public (PDF) 17246 Submittal -Elvis Cruz-Powerpoint Presentation (PDF) 17246 Substitution Memo from Dept of Real Estate and Asset Management (PDF) 17246 Legislation -SUB (PDF) History of Legislative File: Revision: Acting Body: Date: Action: Result: Andrew Frey Pedro Lacret Marie Gouin Natasha Colebrook -Williams Arthur Noriega V Larry M. Spring Legislative Division City City City City City City City City City City City City City City City City City City City City Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission Commission City Commission City Commission Mayor's Office City Clerk's Office 2/13/2025 2/18/2025 2/18/2025 2/18/2025 2/18/2025 2/18/2025 2/18/2025 2/27/2025 2/27/2025 4/10/2025 4/10/2025 4/24/2025 4/24/2025 5/8/2025 5/8/2025 5/22/2025 5/22/2025 6/12/2025 6/12/2025 6/17/2025 6/17/2025 6/26/2025 6/26/2025 7/10/2025 7/10/2025 7/24/2025 7/24/2025 7/24/2025 7/24/2025 7/31/2025 7/31/2025 Department Head Review Budget Analyst Review Budget Review Deputy City Manager Review City Manager Review Assistant City Manager Legislative Division Review Meeting DEFERRED Meeting DEFERRED Meeting DEFERRED Meeting DEFERRED Meeting DEFERRED Meeting MEETING CANCELLED Meeting DEFERRED Meeting DEFERRED Meeting DEFERRED Meeting ADOPTED WITH MODIFICATION(S) RECONSIDERED ADOPTED WITH MODIFICATION(S) Unsigned by the Mayor Signed and Attested by the City Completed Completed Completed Completed Completed Completed Completed Completed Passed Completed Passed Completed Passed Completed Passed Completed Passed Completed Passed Completed Passed Completed Passed Completed Passed Completed Passed Passed Passed Completed Completed City of Miami Page 2 of 3 Printed on: 9/2/2025 City of Miami Master Report Enactment Number: R-25-0297 Clerk A Legislative Division 8/26/2025 Legislative Division Review Completed A Andrew Frey 8/26/2025 Department Head Review Completed A Arthur Noriega V 8/29/2025 City Manager Reivew Completed A James Brako 8/29/2025 ACA Review Completed A George K. Wysong III 8/29/2025 Approved Form and Completed Correctness A George K. Wysong III 8/29/2025 Approved Form and Completed Correctness with Modification(s) A City Clerk's Office 9/2/2025 Rendered Completed City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com City of Miami Page 3 of 3 Printed on: 9/2/2025