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HomeMy WebLinkAboutReso 98- 63RESOLUTION NO. 98- 03 A RESOLUTION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, APPROVING IN CONCEPT THE TERMS TO BE INCLUDED IN A CONTRACT FOR THE SALE AND PURCHASE OF VACANT PROPERTY DESCRIBED AS BLOCK 8, LOTS 1, 2, 3, 7, 8, 9,10,11, SUNNY ISLES SHORES, SEC. B, PB 65-47, LOCATED AT NORTH BAY ROAD AND 178TH DRIVE, ON THE TERMS AND CONDITIONS PROVIDED IN THE LETTERS OF INTENT SET FORTH AS COMPOSITE EXHIBIT "A"; AUTHORIZING THE CITY ATTORNEY TO DRAFT SUCH A CONTRACT; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Sunny Isles Beach which became incorporated on June 16, 1997 has no park land included within its corporate boundaries; and WHEREAS, the Mayor and the Commission have expressed the desire to create more than one park for the citizens of the City of Sunny Isles Beach as a matter of "quality of life"; WHEREAS, the City Manager, the City Attorney and the Mayor have reviewed and analyzed the number of residential properties and have concluded the contract proposed to the City Commission represents the most favorable negotiation both in terms of location and price for the City of Sunny Isles Beach; and WHEREAS, the proposed purchase price of $1,435,000 is supported by an independent appraisal; NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. The purchase of the vacant property described as Block 8, Lots 1, 2, 3, 7, 8, 9,10, 11, Sunny Isles Shores, Sec. B, PB 65-47, located at North Bay Road and 178th Drive, on the terms provided in the letters of intent set forth as composite Exhibit "A" is hereby approved in concept by the City of Sunny Isles Beach. Section 2. The City Attorney is hereby directed to draft for Commission approval such a contract and any and all documents to effectuate same on behalf of the City. Res. on contract for purchase of North Bay Rd. Section 3. This Resolution shall become effective upon its adoption. PASSED AND ADOPTED this I day of July, 1998 ATTEST: Richard Brown-Morilla, City Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY: L M. Dannheisser, City Attorney Moved by: C►cH.,w Second by: QQ-V- w,.. VOTE AS FOLLOWS: Mayor Samson Vice Mayor Turetsky Commissioner Kauffinan Commissioner Iglesias dMrms$iuner Morrow �A e 'i (yes) L/ (no) (yes) (no) (yes) (no) (yes) t/ (no) (yes) (no) Res. on contract for purchase of North Bay Rd. -2- J-4 1 k�4� David Samson, Mayor sFP.OM : Panasonic FAX SYSTEM PHONE NO. : 203 3630535 Jun. 23 1990 10:59PM P' FRu^' kEYEE 1 NRP1AN GECRf;E I PHONE 1�10. : run• 24 1998 29:59PM P2 City Of Sunny Isles Beach 17Q70 Cnliins Avrnt+e, Suite 250 Sunny isles Beach, lf'lcrida 3316r) !305) 047-0606 phone (305) W-2113 fax ?4&YW Tune 24, 1998 Irvift Tar wky VOt Mayor cowmiwowm ,Danny 1glev" Lila Kawrmn Mr. George Newrran Coanie Morrow Assistant Sales Manager Ames Dipietro One S.E. Third Avenue City Mansser Miami, EL 33131-1704 Lynn X Dannhgll wr City Aaadmy Dear Mr. Ne A#A, - This is aInding letteialbil?tsky, tent that contains provisions that are being disaureed for a potential sale to thef. Sunny Isles Beach of 2.84 acres of vacant land owned by ISMAT Corp.; and located at North Bay Road and 178 h Drive, Sunny Isles Beach, in accordance with the survey provided by you and attached hereto as Exhibit "A." This is not a legally bird ng contract but merely an outline of the contract terms for discussion purposes only, The terms as as follows: PURCHASE PRICE: ONE MILLION FOUR 14UTI DRED AND THIRTY FIVE THOUSAND' ($1,435,000.00) DOLLARS. (The budgeted price was S 1,100,00 but has been raised based on the enclosed appraisal.) CONTINGENCIES: This price is contingent upon the following. 1. City Commission approv*A of a binding contract. 4, die pmeh- 3. Contract is executed no later than July 30, 1998, 4. This letter of intent it, subject to a formal Cotttract 46 prepared by Buycr and RMOVed by Seller's artorney, 5. Deposit: Upon execution and delivery of th terse agreement, Buyer wo doposit S50,000 ith agr --U**" updtt escrow agentf�; covaid • 6. Bayer warrants and reprwnts that the only real ectzte broker it has dealt with in Connection with the property is Mr. George Newman of the Keyes Co., Realtors, CMporate OMce, One S.E. Yd Avenue, Pam.. E 1 ,.ROM : Panasonic F► X SYSTEM ROM : KEVES 1 NC-LJMPN GEORGE l PHONE NO. : 203 3630535 PHD4E NO. : Jun. 23 1998 11:00PM P2 Jun. 24 1998 06:59PM P3 7. b6cni, Florida, 33131.1704, 1.800.749-5393 X 311, which Seller f � would ao p ate at five percent of closing price and only if sale (NV' closer, Fr-v' , a 40(A se, AMI tau L06t s F 8• Buyer acknowledges receipt o£the above signed by Haim No r +W e+ CLOSING DATE: Projected olosing date is no later than October 13, 1998. CLOSING COSTS: Closing Costs will be borne as customarily allocated. PROPOSED BUYER: CITY OF IS BEACH By - David SwA=4 Mayor cc: Haim Noam James Di,Pietro, City Mamuger SELLER: 4 DUSITZKY By, QAh",& & . Aviva Budd Inc p,r wA Attorney for Seller - /Jej.4vt:l .11-4urw;,y jVAJLIQ 4%1U;� 611 0 AUd .4-1tUS 4$ "jy&unvy t1 uMrgNv,Z ul :tu'!di 1In '4411 vtluel 159 )lootI 4vCci ux popxvoo.z 0 '46VI, Noilou5 `�:l2itrllS' 'UR-I ;I Mbillf! 70 %loll-%Od v Puv ' 19 o`30c1 ' Ot Moog UIJ uz ��l�ac�coa vu `'t1115 S�ytl-avL Jo y :javxy ;o uu;.7.10d v l)uv 'zr aNvi v ' ' SE =loot1 ;*id u1 papa Ioova sty 8uoTvjnTpc{ns wvd Rr''iRus3g1w 3n �avas Jo uuF34od u Ju 49:-WOH9 SM1.131 XNlln§ ..;.::.�.h.1..•�.,,...,•tL,�... °; 1ac+�; 'o Noolli `TT Pua uE 'G 'Q `4 It `t 1 h •ram r Y JAW b 17070 Collins Avenue, Suite 2.10 Sunny Isles Beach, Florida 33160 i 305) 947-0606 phone (305) 949-31 13 fax Du. id Samson June 15, 1998 Miyur Irving Turetsk,y Vice Miyor Commissioners Mr. George Newman Danny Iglesias Assistant Sales manager Lila Kauffman Keyes Co. Corporate Ofice Connie Morro%c One S.E. Third Avenue hnuW otptHro Miami, FL 33131-1704 Clq Manager Uetttlsmer.: Lynn hi Danandswr Cur Acorney 'Ns is a ron-binding letter of intent that contains provisioro that are being discussed fo, a potential We to the City of Suriny Isles Beach of 2.84 acres of vacant land owned bs• ISMAT Corp, and Dubltsky in accordance with the survey provided by you and attached hereto as Exhibit "A". (/ DrXI; This is not a legally binding contractbut merely an i e contract tes ('ordiscussion purposes only a termssee as follows:��rm i 143t1+'+-A PURCHASE PRICE: S�20'XW(The budgeted pn w ,100,00C) but hits been raised based on ffie enclosed appraisal.) CONTINGENCIES: This price is contingent upon the following: -- ��� I . City Comtnittion approval of a binding contra 2. City's repipt of second appraisal at kr s expense (discussed below) for the property as required by Section 166,045, Florida Statuws as airncnded, to substantiate the purchase price 3. Conti= is executed no later than July 30, 1999 CLOSING DATE: Projeetod closing date is no Liter than October 15, 199a. CLOSING COSTS: Closing cots will be borne as customarily allocated. The undersigned parties agree that time is of the r&eeaee and shaJl proceed with due q b6aJa0 iw► diligence. HA1 M P-J O A 04 rt tIOL1L hThe y 0- PROPOSED �. SELLERS. AD VO C-ATt NOT AO cJ[TY 0 IS ACx Davt Sat11i n, Miq+or � � 5 LS-TTrK Df• I*jTS&,T 1b s %)a A&CT To 0 ROIQ044 l ac+v?�i�T ►�.�t4ii�arj g`I P5vy1aR, Aft-t� * pi �t,6.a► l's,l *.iL.t, L- tS. 14 i'TCO.V&-y. , y of V.11: ve"�aN i t la cvT10W 43-b 'bILL )V"Y eF 1� �V0.C*A t.L �'� M4rvTt*PVAC'4 C•0. h.�ovt.b a�Q�tilT 3S 5�&0%1 uw ACAILO u � our R SG�.o.0 1tiG.�+vT. , +Nob R t 4 ItSW s -► 't a LCwLt. t'i" pft S. 1:0iR A L:r- U0 I Tit t o to N! t.Tt v N w 1 Ia -fi.'t y' l �. % QL .a T4L, 1CS%16- S Cro I A�.q L.1"dtLil� CsiL.Q uA,Ava ©gg t c.6, rp ry fa. 46,1&. fps. CZA:. r o Ir- �,� ► v 4 pet i,.� Auo f it 6.%o rpL +�►,� +�. L.t' s+�.�,, ^65z -i , Q,I�1,.r �„� IbyrbITZ, Kq t ON �INORd I OJNO3n N'dWM_N [ S9A._ 1 : W063 �P'I'OJ V N[V01A,'11'_ LTTLTSL C Z:5 XF'� Cr:gp 1;�n SG 9J hl--y tvey To A v I v ok 76u eD Pot /%D ug 7z v City of Sunny Isles Beach 17070 Collins Avenue. Suite 250 Sunny Isles Beach. Florida 33160 (305)947-0606 phone (305) 949-3113 fax David Samson mayor To: City Commission Irving Turetsky Vice Mavor From: City Manager Commissioners Danny Iglesias Date: July 16, 1998 Lila Kauffman Connie Morrow Subject: PURCHASE OF VACANT LAND GENERALLY LOCATED AT .lames DiPietro NORTH BAY ROAD AND 179TH DRIVE City Manager Lynn At. Dannheisser City Attomey RECOMMENDATION It is recommended that the City Commission adopt the attached resolution authorizing the purchase of approximately 2.84 acres of land at North Bay Road and 179i° Drive. REASONS As a new City, a Commission goal has been to provide additional parks for residents as a matter of "quality of life." Accordingly, a contract has been negotiated by the Mayor and Manager for a substantial parcel consistent with an independent appraisal valuation. Accordingly, the purchase is recommended. ADDITIONAL INFORMATION A plan to finance the acquisition of the land will be contained in the recommended budget to be released in late July 1998. How the park can be developed will be addressed as part of the comprehensive planning process. Respectfully submitte James DiPietro, City Manager JD:pw BERTRAM R. BROWN, NIAI, SRA 500 NW 165 STREET ROAD. SUrrE 108 MIAMI. FL 33169 (305) 947-4727 F": (305) 944-4029 April 20, 1998 Mr. Jack Neustadt 17070 Collins Avenue, Suite 250 Sunny Isles Beach, Florida 33160 RE: Vacant Land located at North Bay Road and 179th Drive Sunny Isles Beach, Florida Dear Mr. Neustadt: Pursuant to your request, we are pleased to submit the accompanying formal appraisal report. The report, including exhibits, fully describes the subject property and contains all pertinent data gathered in our investigation. We made a careful inspection of the site on June 113t, 1998 and other dates. All property rights were appraised and a study made of all conditions affecting its value, the purpose of which is to arrive at the current market value. A study has also been made to determine its present marketability. Our findings are submitted herein. The current market value or most probable selling price for the subject property, as of June 1st, 1998, in its "as is" condition, is: $1,420,000 (One Million, Four Hundred Twenty Thousand Dollars) We certify that we have no present or contemplated future interest in this property and that our employment and compensation are in no way contingent upon the value reported. Respectfully submitted, Bertram R. Brown,MAI,SRA State Certified General REA #RZ0000457 Jose L. Cobian State Certified #RZ0001699 General REA