HomeMy WebLinkAboutSummary FormDate: 01/22/2016
FILE ID: 16-00085
Commission Meeting Date: 03/11/2016
Law Department
Matter ID No.
16-78
Requesting Department: Dept. of Real Estate & Asset Mngt.
District Impacted: 4
Type: 0 Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Purchase and Sale Agreement for the acquisition of real property located at 2601 SW 13"' Street,
Miami, Florida.
Purpose of Item:
A resolution of the Miami City Commission, with attachment(s), authorizing the City Manager to
execute a Purchase and Sale Agreement ("Agreement"), for the acquisition of the property located at
2601 SW 13t" Street, Miami, Florida, ("Property"), containing an approximate total lot area of 6,900
square feet, as legally described in the Agreement between the City of Miami ("Purchaser") and the
Federal National Mortgage Association ("Seller"), attached hereto and made a part hereof, for a total
purchase price of Two Hundred Seventy One Thousand Dollars ($271,000.00); authorizing the City
Manager to execute all necessary documents, in a form acceptable to the City Attorney, which are
necessary to effectuate said acquisition. Funds are allocated from the D4 Park Land Acquisition CIP
Project No. 40-1350568 in the total amount not to exceed Two Hundred Eighty Thousand Dollars
($280,000.00), to cover the cost of said acquisition inclusive of the cost of survey, environmental report,
title insurance and related closing costs associated with said acquisition, in accordance with the terms
and conditions of the Agreement, which terms may be amended by the City Manager and approved by
the City Attorney, as may be necessary u1 order to meet the best interest of the City of Miami.
Background Information:
See Supplemental Page
Budeet Impact Analvsis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No.-
Special
o:Special Revenue Account No:
CIP Project No: 40-850568 (D4 Park Land Acquisition)
NO Is this item funded by Homeland Defense/Neighborhood Improvement
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: $280,000.00
CIP N IA Budg
. If using or receiving capital funds
G'rarits. N/A Risk Management
Purchasing N/A Dept. Director
Assistant City Manager City Manag r ""
i
e'm
Pagel of2
?JC
SUPPLEMENTAL PAGE
Subject: Purchase and Sale Agreement for the acquisition of real property located at 2601 SW 13th Street,
Miami, Florida.
Background Information:
The City of Miami ("Purchaser") wishes to acquire the property located at 2601 SW 13th Street, Miami,
Florida ("Property"). The Purchaser plans to construct a park at the Property to enhance the quality of
life in the surrounding area. The Federal National Mortgage Association ("Seller") agrees to enter into
a Purchase and Sale Agreement, to convey the Property to the Purchaser for Two Hundred Seventy One
Thousand Dollars ($271,000.00). The Agreement is contingent upon the City of Miami obtaining a
written appraisal from a licensed Florida appraiser stating that the appraised value is at least Two
Hundred Seventy One Thousand Dollars ($271,000.00). The Purchaser's estimated total cost for the
acquisition of the Property will not exceed Two Hundred Eighty Thousand Dollars ($280,000.00), to
be allocated from CIP Project No. 40-1350568 D4 Park Land Acquisition.
Page 2 of 2