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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #19205 Date: 04/17/2026 Commission Meeting Date: 05/14/2026 Requesting Department: Department of Real Estate and Asset Management Sponsored By: Rolando Escalona District Impacted: District 3 Type: Resolution Subject: Execute PSA - Property 1702-1714 W Flagler Purpose of Item: A Resolution Of The Miami City Commission, 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 Maria M. Hernandez and Teresita Hernandez, as Trustees of the Jose R. Hernandez, Family Trust ("Seller"), for the acquisition of real property identified as Folio Number(S) 01-4103-014-0010 And 01-4103-014-0020, located at 1702 and 1714 W Flagler Street, Miami, Florida (collectively "Property"), for a purchase price of Six Million Dollars ($6,000,000.00); 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; funding for the acquisition shall not exceed Six Million Five Hundred Thousand Dollars ($6,500,000.00) with funds being allocated, appropriated, and awarded from the District 3 Real Estate Acquisition And Accessible Housing Funds, 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. Background of Item: The City of Miami ("City") wishes to acquire real property identified as folio number(s) 01-4103-014-0010 and 01-4103-014-0020, located at 1702 and 1714 W Flagler Street, Miami, Florida (collectively "Property"). Maria M. Hernandez and Teresita Hernandez, as Trustees of the Jose R. Hernandez, Family Trust ("Seller") has agreed to enter into a Purchase and Sale Agreement ("Agreement") with the City to sell the Property for a purchase price of Six Million Dollars ($6,000,000.00) ("Purchase Price"). 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. The City obtained two (2) appraisal reports from licensed State of Florida certified appraisers. Funding for the acquisition shall not exceed Six Million Five Hundred Thousand Dollars ($6,500,000.00) with funds being allocated, appropriated, and awarded from the District 3 Real Estate Acquisition And Accessible Housing Funds, to cover the cost of said acquisition, inclusive of the cost of surveys, environmental reports, title insurance, securing the property, demolition, project signage and all related closing costs associated with said acquisition, in accordance with the terms and conditions of the Agreement. Budget Impact Analysis Item is NOT Related to Revenue Item is an Expenditure Item is NOT funded by Bonds Total Fiscal Impact: Total Fiscal Impact: $6,500,000.00 Department of Real Estate Review Completed Office of Management and Office of Management and Office of Management and City Manager's Office City Manager's Office Legislative Division Office of the City Attorney 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 and Asset Management 04/17/2026 5:30 PM Budget Lai -wan McGinnis Budget Miriam Arcia Budget Leon P Michel Erica T. Paschal Natasha Colebrook -Williams Valentin J Alvarez James Brako Xavier Alban 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 Department Head Completed Skipped Completed Assistant City Manager Completed Approved on behalf of the City Manager Legislative Division Review Completed ACA Review Completed Deputy Attorney Review Completed Approved Form and Correctness Completed Meeting Completed Signed by the Mayor Completed Signed and Attested by the City Clerk Completed Rendered Completed 05/05/2026 8:38 PM 04/20/2026 10:54 AM 05/05/2026 8:39 PM 05/05/2026 8:59 PM Completed 05/05/2026 9:26 PM 05/05/2026 9:36 PM 05/05/2026 10:05 PM 05/05/2026 10:09 PM 05/14/2026 9:00 AM 05/15/2026 2:37 PM 05/15/2026 2:48 PM 05/15/2026 2:48 PM City of Miami Legislation Resolution Enactment Number: R-26-0221 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 19205 Final Action Date:5/14/2026 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 MARIA M. HERNANDEZ AND TERESITA HERNANDEZ, AS TRUSTEES OF THE JOSE R. HERNANDEZ, FAMILY TRUST ("SELLER"), FOR THE ACQUISITION OF REAL PROPERTY IDENTIFIED AS FOLIO NUMBER(S) 01-4103-014-0010 AND 01-4103-014-0020, LOCATED AT 1702 AND 1714 W FLAGLER STREET, MIAMI, FLORIDA (COLLECTIVELY "PROPERTY"), FOR A PURCHASE PRICE OF SIX MILLION AND 00/100 DOLLARS ($6,000,000.00); 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; FUNDING FOR THE ACQUISITION SHALL NOT EXCEED SIX MILLION, FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($6,500,000.00) WITH FUNDS BEING ALLOCATED, APPROPRIATED, AND AWARDED FROM THE DISTRICT 3 REAL ESTATE ACQUISITION AND ACCESSIBLE HOUSING FUNDS, 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. WHEREAS, the City of Miami ("City") wishes to acquire real property identified as folio number(s) 01-4103-014-0010 and 01-4103-014-0020, located at 1702 and 1714 West Flagler Street, Miami, Florida (collectively "Property"); and WHEREAS, Maria M. Hernandez and Teresita Hernandez, as Trustees of the Jose R. Hernandez, Family Trust ("Seller") has agreed to enter into a Purchase and Sale Agreement ("Agreement") with the City to sell the Property for a purchase price of Six Million and 00/100 Dollars ($6,000,000.00) ("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, funding for the acquisition shall not exceed Six Million, Five Hundred Thousand and 00/100 Dollars ($6,500,000.00) with funds being allocated, appropriated, and awarded from the District 3 Real Estate Acquisition and Accessible Housing funds, to cover the cost of said acquisition, inclusive of the cost of surveys, environmental reports, title insurance, securing the property, demolition, 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 Commission hereby approves and authorizes' the City Manager to reallocate funds in the total not to exceed amount of Six -Million, Five Hundred Thousand and 00/100 Dollars ($6,500,000.00) ("Funds") from certain capital and special revenue project(s), and re -appropriating said Funds to current and/or future capital and special revenue projects, all as set forth in Exhibit "A," attached and incorporated. Section 3. The allocation and appropriation of the Funds referenced herein are subject to all federal, State, and local laws that regulate the use of such Funds and the receipt of all necessary approvals, including, but not limited to the City Attorney. Section 4. The City Manager is authorized1 to make any changes to adjust, amend, and appropriate the City's Operating Budget, Five -Year Financial Plan, Strategic Plan, Multi -Year Capital Plan, and any other documents as necessary and applicable, pursuant to the provisions of this Resolution. Section 5. Certain necessary actions by the City Manager and designated City officials and departments made in order to update the Capital Plan, relevant financial controls and computer systems in connection therewith, for project close-outs, and for grants and other funding sources in progress in connection herewith are ratified, approved, and confirmed. Section 6. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: rge Wys•ng III, C.y ttor' -y 5/5/2026 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.