HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #18086
Date: 08/29/2025
Commission Meeting Date: 09/11/2025
Requesting Department: Department of Real
Estate and Asset Management
Sponsored By: Christine King
District Impacted: District 5
Type: Resolution
Subject: Execute PSA Agrmnt/Accept Funds - Wynwood BID - Acquisition 29 NW 28 ST
Purpose of Item:
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 29 NW 28 Street, LLC, a
Florida Limited Liability Company ("Seller"), for the acquisition of real property identified
as folio number 01-3125-028-1070, located at 29 NW 28 ST, Miami, Florida
("Property"), for a purchase price of Three Million One Hundred Fifty Thousand Dollars
($3,150,000); further authorizing the City Manager to negotiate and execute all
necessary documents, including amendments and modifications to said Agreement, in a
form acceptable to the City Attorney, as may be necessary to effectuate said
acquisition; further authorizing the City Manager to accept funding for the acquisition
from the Wynwood Business Improvement District ("BID") and its Public Benefits Trust
Fund Committee ("Committee") for an amount not to exceed Three Million Six Hundred
Thousand Dollars ($3,600,000.00) to be deposited to Capital Fund 34000 and
subsequently allocated to 34000.DREAMORG.661000.000.000, 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; further
authorizing and directing the City Manager to prepare and submit one or more
applications for a future land use map amendment and rezoning as necessary to
designate to "Parks and Recreation" on the City's adopted Future Land Use Map
("FLUM") of the Miami Comprehensive Neighborhood Plan ("MCNP") and "CS" Transect
Zone on the City's adopted zoning atlas ("Zoning Atlas") of the Miami 21 Zoning Code
(Ordinance No. 13114 of the City of Miami, Florida, as amended) ("Miami 21 Code"),
upon the acquisition by the City.
Background of Item:
Pursuant to section 62-644, of the City of Miami Code of Ordinances, as amended, the
Wynwood Business Improvement District ("BID") may collect cash contributions to
support reinvestment and supplement affordable/workforce housing, public parks and
open space, and civic space or civil support space within the NRD-1 boundaries
("PBTF"). The real property identified as folio number 01-3125-028-1070, located at 29
Northwest 28 Street, Miami, Florida (the "Property"), is within the NRD-1 boundaries.
The Public Benefits Trust Fund Committee ("Committee") formed to oversee and
allocate the PBTF funds approves the allocation in the amount of Three Million Six
Hundred Thousand Dollars ($3,600,000.00) (the "Funds"), for the acquisition of the
Property, for the purposes of a public park, open space, or civic space to be managed,
operated, and maintained by the BID or Committee, under a proper Management and
Maintenance Agreement between the BID and the City's Department of Parks and
Recreation (the "Intended Purpose"). The BID and the Committee agree to transfer the
Funds to the City of Miami ("City") to acquire the Property for the Intended Purpose.
The City agrees to accept the Funds to be deposited to Capital Fund 34000,
subsequently allocated to 34000.DREAMORG.661000.000.000 and to be used for the
acquisition of the Property for the Intended Purpose. 29 NW 28 Street, 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
Three Million One Hundred Fifty Thousand Dollars ($3,150,000.00) ("Purchase Price").
The City obtained two (2) appraisal reports from licensed State of Florida certified
appraisers for which the Purchase Price is lower than the appraised value from both
appraisals. The acquisition of the Property will not exceed Three Million Six Hundred
Thousand Dollars ($3,600,000.00) as authorized from the Funds approved and
allocated by the BID and the Committee.
Budget Impact Analysis
Item is Related to Revenue
Item is an Expenditure
Item is NOT funded by Bonds
Total Fiscal Impact:
Total Fiscal Impact: $3,600,000.00
CIP Project No: Capital Fund 34000
Department of Real Estate and Asset Management
Review Completed
Office of Management and Budget
Office of Management and Budget
Office of Management and Budget
City Manager's Office
City Manager's Office
City Manager's Office
Legislative Division
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the Mayor
Office of the City Clerk
Office of the City Clerk
Reviewed B
09/02/2025 3:01 PM
Mabel Betancourt
Lai -wan McGinnis
Marie Gouin
Erica T. Paschal
Natasha Colebrook -Williams
Natasha Colebrook -Williams
Valentin J Alvarez
Jihan Soliman
George K. Wysong III
Maricarmen Lopez
Mayor's Office
City Clerk's Office
City Clerk's Office
Andrew Frey
Budget Analyst Review
Budget Analyst Review
Budget Review
Assistant City Manager
Deputy City Manager Review
City Manager Review
Legislative Division Review
ACA Review
Approved Form and Correctness
Meeting
Department Head
Skipped
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Signed by the Mayor Completed
Signed and Attested by the City Clerk Completed
Rendered Completed
09/02/2025 9:23 AM
09/02/2025 4:32 PM
09/02/2025 5:39 PM
09/12/2025 10:04 AM
09/02/2025 8:56 PM
09/02/2025 8:57 PM
09/02/2025 9:06 PM
09/02/2025 9:10 PM
09/02/2025 9:36 PM
09/11/2025 9:00 AM
09/19/2025 2:28 PM
09/19/2025 2:34 PM
09/19/2025 2:34 PM
City of Miami
Legislation
Resolution
Enactment Number: R-25-0353
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 18086 Final Action Date:9/11/2025
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 29 NW 28 STREET, LLC, A FLORIDA LIMITED
LIABILITY COMPANY ("SELLER"), FOR THE ACQUISITION OF REAL PROPERTY
IDENTIFIED AS FOLIO NUMBER 01-3125-028-1070, LOCATED AT 29 NW 28 ST,
MIAMI, FLORIDA ("PROPERTY"), FOR A PURCHASE PRICE OF THREE MILLION
ONE HUNDRED FIFTY THOUSAND DOLLARS ($3,150,000); FURTHER
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ALL
NECESSARY DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO
SAID AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AS MAY
BE NECESSARY TO EFFECTUATE SAID ACQUISITION; FURTHER AUTHORIZING
THE CITY MANAGER TO ACCEPT FUNDING FOR THE ACQUISITION FROM THE
WYNWOOD BUSINESS IMPROVEMENT DISTRICT ("BID") AND ITS PUBLIC
BENEFITS TRUST FUND COMMITTEE ("COMMITTEE") FOR AN AMOUNT NOT TO
EXCEED THREE MILLION SIX HUNDRED THOUSAND DOLLARS ($3,600,000.00)
TO BE DEPOSITED TO CAPITAL FUND 34000 AND SUBSEQUENTLY ALLOCATED
TO 34000.221001.661000.0000.00000, 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;
FURTHER AUTHORIZING AND DIRECTING THE CITY MANAGER TO PREPARE
AND SUBMIT ONE OR MORE APPLICATIONS FOR A FUTURE LAND USE MAP
AMENDMENT AND REZONING AS NECESSARY TO DESIGNATE TO "PARKS AND
RECREATION" ON THE CITY'S ADOPTED FUTURE LAND USE MAP ("FLUM") OF
THE MIAMI COMPREHENSIVE NEIGHBORHOOD PLAN ("MCNP") AND "CS"
TRANSECT ZONE ON THE CITY'S ADOPTED ZONING ATLAS ("ZONING ATLAS")
OF THE MIAMI 21 ZONING CODE (ORDINANCE NO. 13114 OF THE CITY OF MIAMI,
FLORIDA, AS AMENDED) ("MIAMI 21 CODE"), UPON THE ACQUISITION BY THE
CITY.
WHEREAS, pursuant to section 62-644, of the City of Miami Code of Ordinances, as
amended, the Wynwood Business Improvement District ("BID") may collect cash contributions
to support reinvestment and supplement affordable/workforce housing, public parks and open
space, and civic space or civil support space within the NRD-1 boundaries ("PBTF"); and
WHEREAS, the real property identified as folio number 01-3125-028-1070, located at 29
Northwest 28 Street, Miami, Florida (the "Property"), is within the NRD-1 boundaries; and
WHEREAS, the Public Benefits Trust Fund Committee ("Committee") formed to oversee
and allocate the PBTF funds approves the allocation in the amount of Three Million Six Hundred
Thousand Dollars ($3,600,000.00) (the "Funds"), for the acquisition of the Property, for the
purposes of a public park, open space, or civic space to be managed, operated, and maintained
by the BID or Committee, under a proper Management and Maintenance Agreement between
the BID and the City's Department of Parks and Recreation (the "Intended Purpose"); and
WHEREAS, the BID and the Committee agree to transfer the Funds to the City of Miami
("City") to acquire the Property for the Intended Purpose; and
WHEREAS, the City agrees to accept the Funds to be deposited to Capital Fund 34000,
subsequently allocated to 34000.221001.661000.0000.00000 and to be used for the acquisition
of the Property for the Intended Purpose; and
WHEREAS, 29 NW 28 Street, 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 Three Million One Hundred Fifty Thousand Dollars
($3,150,000.00) ("Purchase Price"); and
WHEREAS, the City obtained two (2) appraisal reports from licensed State of Florida
certified appraisers for which the Purchase Price is lower than the appraised value from both
appraisals; and
WHEREAS, the acquisition of the Property will not exceed Three Million Six Hundred
Thousand Dollars ($3,600,000.00) as authorized from the Funds approved and allocated by the
BID and the Committee;
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, and any and all necessary documents, all in forms acceptable to
the City Attorney, for the acquisition of the Property at the Purchase Price for the Intended
Purpose.
Section 3. The City Manager is further authorized' to accept the Funds from the BID
and Committee to be deposited to Capital Fund 34000, subsequently allocated to
34000.221001.661000.0000.00000 and used to acquire the Property for the Intended Purpose.
Section 4. The City Manager is further authorized1 and directed to prepare and submit
any and all applications for a future land use map amendment and rezoning as necessary to
designate the Property to "Parks and Recreation" on the City's adopted Future Land Use Map.
Section 5. 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: