HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM Law Department
Matter ID No.
FILE ID: 15-0134-8f
15-2418
Date: 10/09/2015 Requesting Department: Dept. of Real Estate & Asset Mngt.
Commission Meeting Date: 10/22/2015 District Impacted: 2
Type: M Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Resolution authorizing the City Manager to execute a Real Estate Purchase and Exchange
Agreement the "Agreement"), by and between the City of Miami ("City") and FDG Rail Holding
LLC, a Delaware Limited Liability Company("FDG" ), AAF Miami TOD Holdings, LLC, and its
affiliates, collectively "AAF").
Purpose of Item:
A resolution of the Miami City Commission, with attachment(s), authorizing the City Manager to
execute the Agreement, in substantially the attached form, by and between the City of Miami ("City")
and FDG Rail Holdings 25 LLC, a Delaware Limited Liability Company ("FDG" ), AAF Miami TOD
Holdings, LLC, and its affiliates, (collectively "AAF"), for a land exchange of two City -owned
properties, one of which contains approximately 0.30 acres, located at 104 NW 1st Avenue, as more
particularly described on Exhibit "A" attached hereto and made a part hereof ("City Property South"),
and the other of which contains approximately 0.32 acres, identified as Folio number 01-3136-000-
0090 and legally described in Exhibit "B" attached hereto and made a part hereof ("Tracts F&G"), in
exchange for that certain FDG -owned property, containing approximately 0.50 acres, located at 435
NW 1 st court, as more particularly described on Exhibit "C" attached hereto and made a part hereof
("FDG property"); AAF shall fiirther pay the City Five Hundred Thousand Dollars ($500,000.00), and
shall be granted certain crossing rights to allow AAF to use that certain portion of NW 8th street
including subsurface and air rights as described in Exhibit "D" attached hereto and made a part hereof;
and to execute such other documents as may be necessary to effectuate such land exchange transaction
in accordance with terms and conditions of the Agreement, with AAF covering the costs associated
with this transaction, including survey, Title Insurance and closing costs, with terms and conditions
more particularly described in the Agreement.
Background Information:
See Supplemental Page
Bud et Impact Analysis
Yji�S Is this item related to revenue? 49001000
NO Is this item an expenditure? If so, please identify funding source below.
General Account No.-
Special
o:
Special Revenue Account No.:
CIP Project No.-
NO
o:NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP N/A Bu
If using or receivin capital funds
Grants N/7 Rb
Dept. Director,
City Manager.
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SUPPLEMENTAL PAGE
Subject: Resolution authorizing the City Manager to execute a Real Estate Purchase and Exchange
Agreement the "Agreement"), by and between the City of Miami ("City") and FDG Rail Holding
LLC, a Delaware Limited Liability Company ("FDG"), AAF Miami TOD Holdings, LLC, and its
affiliates, (collectively "AAF").
Background Information:
The City of Miami ("City") is the owner in fee simple title to that certain real property located at 104
NW 1 st Avenue, legally described in Exhibit "A", attached hereto and incorporated herein by specific
reference ("City Property South").
The City is the owner in fee simple title to that certain real property identified as Folio number 01-3136-
000-0090 ("Tracts F&G"), including air rights up to one hundred (100) feet, and legally described in
Exhibit `B", attached hereto and made a part hereof (collectively "City Property North").
FDG Rail Holdings 25 LLC, A Delaware Limited Liability Company ("FDG"), is the owner in fee
simple title to that certain real property located at 435 NW 1 st Court, legally described in Exhibit "C",
attached hereto and incorporated herein by specific reference ("FDG Property").
AAF shall be granted certain crossing rights to allow AAF to use that certain portion of NW 8th street
including subsurface and air rights up to 100 feet as described in Exhibit "D" attached hereto and made
a part hereof
AAF shall contribute to the City an amount equal to five hundred thousand dollars ($500,000.00), which
shall be used as a public benefit towards the construction of a fire station or similar public project; and
The City and AAF shall work together to conceptually design NW 1st Avenue between NW 1st Street
and NW 2nd Street ("New Roadway") substantially in accordance with Exhibit "E" attached hereto and
made a part hereof. AAF shall, at its cost and expense, design and construct the New Roadway in
accordance with the City Code.
The City and AAF shall file and process the application required in order to replat ("Plat Process") the
City Property and Tract A, as recorded in Plat Book 170, Page 41, which would include the vacation as
depicted on Exhibit "F" attached hereto and made a part hereof.
Section 29-B of the City of Miami Charter provides an exception from the competitive bidding
requirements for disposition of non -waterfront City -owned property when conveying to an adjacent
property owner when the subject property is non -waterfront property and is non -buildable.
The City Property North and City Property South are non -buildable and non -waterfront, and its
conveyance would assist in providing for the assemblage of land by AAF. The Property will be
conveyed as is and where is and the City will not warrant the sufficiency of its title nor any interest it
may have in the Property.
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