The Asset Management
Section consists of two divisions, Lease Management and
Property Management. The Lease Management Division is
staffed with a Lease Manager and three Sr. Project
Representatives. The Property Management division is
supervised by the Property Manager and has 4 support
staff. Asset Management manages an average of 104
leases/licenses of City-owned property and 28 leases
from others scattered throughout the approximately 35
square miles of the City and maintains the City’s
property inventory consisting of approximately 631
parcels inclusive of parks, fire stations, City
administrative buildings, public facilities, vacant lots
and housing sites. In FY 2005, revenues of approximately
$5.4 million were generated through lease payments.
Asset Management Role:
- Manage the leasing of property to and from other
parties
- Issue RFPs for the sale or development of City-owned
property
- Categorize City-owned properties according to
use
- Establish market values
- Draft and negotiate various agreements
- Monitor and enforce contractual obligations of
leases, licenses and management agreements
- Identify property suitable for sale or lease
- Maintain records and update, as necessary, the
City’s property inventory
- Serve as real estate advisor to other City
departments and City agencies, as needed.
Additionally, Asset Management selects and manages
service providers such as Tax Consultants and Appraisers
in an on-going effort to work with the Miami-Dade County
Property Appraiser to assure that properties located in
the City are assessed at appropriate value. Staff and
its consultants participate in Value Adjustment Hearings
at the County.
It should be noted that Asset Management does not have
responsibility for maintaining all city-owned real
estate nor managing programs at all city-owned sites.
Rather, Asset Management provides in-house expertise and
assistance to other city departments. It serves as the
City's agent in its roles as seller, buyer, landlord and
tenant, negotiating and drafting contracts for the sale,
lease and/or management of real property.
FY 2009 Notable Accomplishments
- Negotiated, drafted and executed 34 Contract
Agreements for sale or lease of various City-owned
properties.
- Negotiated, drafted and executed 24 Revocable
License Agreements for various City-owned
properties.
- Negotiated, drafted and executed a Fourth
Amendment to the Flagstone Island Gardens
development which resulted in an additional one
million dollars in revenue to the City.
- Reviewed over 700 City property files as they
relate to real estate taxes to exempt City-owned
properties and monitor payment by the tenants of
taxes on their respective leased properties.
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