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itself IF File ID: #5922
< a R 9 Resolution
Sponsored by: Commissioner Manolo Reyes
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 INVESTORS GUIDE LLC ("SELLER") FOR THE
ACQUISITION OF REAL PROPERTY LOCATED AT 700 SOUTHWEST 63 AVENUE,
MIAMI, FLORIDA ("PROPERTY') FOR A PURCHASE PRICE OF THREE HUNDRED
FIFTY-EIGHT THOUSAND DOLLARS ($358,000.00); FURTHER AUTHORIZING THE
CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY
DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO SAID
AGREEMENT, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AS MAY
BE NECESSARY TO EFFECTUATE SAID ACQUISITION; ALLOCATING FUNDS
FROM A SOURCE TO BE DETERMINED IN AN AMOUNT NOT TO EXCEED FOUR
HUNDRED THOUSAND DOLLARS ($400,000.00) TO COVER THE COST OF SAID
ACQUISITION, INCLUSIVE OF THE COST OF SURVEY, ENVIRONMENTAL
REPORT, TITLE INSURANCE, DEMOLITION, SECURING THE PROPERTY,
PROJECT SIGNAGE, AND RELATED CLOSING COSTS ASSOCIATED WITH SAID
ACQUISITION, ALL IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF
THE AGREEMENT.
4 r i
City of Miami
City Hall
3500 Pan American Drive
Legislation Miami, FL 33133
s, 4 www.miamigov.com
Resolution
Enactment Number: R-19-0208
File Number: 5922 Final Action Date:5/23/2019
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 INVESTORS GUIDE LLC ("SELLER") FOR THE
ACQUISITION OF REAL PROPERTY LOCATED AT 700 SOUTHWEST 63 AVENUE,
MIAMI, FLORIDA ("PROPERTY") FOR A PURCHASE PRICE OF THREE HUNDRED
FIFTY-EIGHT THOUSAND DOLLARS ($358,000.00); FURTHER AUTHORIZING THE
CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY
DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO SAID
AGREEMENT, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AS MAY
BE NECESSARY TO EFFECTUATE SAID ACQUISITION; ALLOCATING FUNDS
FROM A SOURCE TO BE DETERMINED IN AN AMOUNT NOT TO EXCEED FOUR
HUNDRED THOUSAND DOLLARS ($400,000.00) TO COVER THE COST OF SAID
ACQUISITION, INCLUSIVE OF THE COST OF SURVEY, ENVIRONMENTAL
REPORT, TITLE INSURANCE, DEMOLITION, SECURING THE PROPERTY,
PROJECT SIGNAGE, AND RELATED CLOSING COSTS ASSOCIATED WITH SAID
ACQUISITION, ALL IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF
THE AGREEMENT.
WHEREAS, the City of Miami ("City") wishes to acquire the property located at 700
Southwest 63Avenue, Miami, Florida ("Property"); and
WHEREAS, the City plans to construct a park that will enhance the quality of life of
residents in the surrounding area; and
WHEREAS, Investors Guide LLC ("Seller") has agreed to enter into a Purchase and
Sale Agreement ("Agreement") with the City to convey the Property to the City for the amount of
Three Hundred Fifty -Eight Thousand Dollars ($358,000.00); and
WHEREAS, the City obtained an appraisal from a licensed State of Florida certified
appraiser stating that the appraised value of the Property is at least the purchase price of Three
Hundred Fifty -Eight Thousand Dollars ($358,000.00); and
WHEREAS, the City's estimated total cost for the acquisition of the Property will not
exceed Four Hundred Thousand Dollars ($400,000.00), with funds being allocated from a
source to be determined;
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
adopted by reference 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 for the acquisition of the Property for a purchase price of Three
Hundred Fifty -Eight Thousand Dollars ($358,000.00).
Section 3. The City Manager is further authorized' to negotiate and execute any and all
necessary documents, including amendments and modifications to said Agreement, all in a form
acceptable to the City Attorney, as may be necessary to effectuate said acquisition.
Section 4. Funding for the acquisition is to be allocated from a source to be determined
in an amount not to exceed Four Hundred Thousand Dollars ($400,000.00).
Section 5. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
1
i ria i "ndez, City Attor iey 5114/2019
' The herein authorization is further subject to compliance with all requirements that may be imposed by
the City Attorney, including but not limited to those prescribed by applicable City Charter and Code
provisions
2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten 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