HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-25-0372
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 18167
Revision:
File Name: Real Estate Acquisition 235 NW 26 AVE
Requesting Dept: City Commission
File Type: Resolution
Status: ADOPTED
Controlling Body: City Commission
Introduced: 9/12/2025
Final Action Date: 9/11/2025
Title: 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 CORAL GROUP PROPERTY ADVISORS, INC.
("SELLER"), FOR THE ACQUISITION OF REAL PROPERTY IDENTIFIED AS FOLIO
NUMBER(S) 01-4103-033-2620 AND 01-4103-033-2625, LOCATED AT 235
NORTHWEST 26 AVENUE, MIAMI, FLORIDA (COLLECTIVELY "PROPERTY"), FOR A
PURCHASE PRICE OF ONE MILLION SEVENTY-TWO THOUSAND DOLLARS
($1,072,000.00); FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE
AND EXECUTE AN ASSIGNMENT AND ASSUMPTION AGREEMENT
("ASSIGNMENT") OF LEASE AGREEMENT ("LEASE"), IN A FORM ACCEPTABLE TO
THE CITY ATTORNEY, BETWEEN THE CITY AND SELLER'S EXISTING TENANT, L &
R STRUCTURAL CORP., INC., FOR USE OF THE PROPERTY ("TENANT"); 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;
FUNDING FOR THE ACQUISITION SHALL NOT EXCEED ONE MILLION ONE
HUNDRED FIVE THOUSAND DOLLARS ($1,105,000.00) WITH FUNDS BEING
ALLOCATED, APPROPRIATED, AND AWARDED FROM THE DISTRICT 4 PARK
ENHANCEMENTS AND EXPANSION CAPITAL PROJECT, 40-B243516, USING MIAMI
FOREVER BOND - SERIES 2024A - TAX-EXEMPT BOND ISSUANCE 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.
Sponsor(s): Commissioner Ralph "Rafael" Rosado
Notes:
Links:
Attachments:
History of Legislative File:
Revision: Acting Body:
Date: Action: Result:
City Commission
City Commission
Mayor's Office
City Clerk's Office
9/11/2025
9/11/2025
9/19/2025
9/19/2025
Meeting
ADOPTED
Signed by the Mayor
Signed and Attested by the City
Completed
Passed
Completed
Completed
City of Miami Page 1 of 2 Printed on: 9/30/2025
City of Miami
Master Report
Enactment Number: R-25-0372
Clerk
Legislative Division 9/25/2025 Legislative Division Review Completed
Marie Gouin 9/26/2025 Budget Review Completed
James Brako 9/26/2025 ACA Review Completed
George K. Wysong III 9/26/2025 Approved Form and Completed
Correctness
City Clerk's Office 9/29/2025 Rendered Completed
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
City of Miami Page 2 of 2 Printed on: 9/30/2025