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 2005 Notable Accomplishments
Asset Management finalized all land acquisitions in
connection with the development of Little Haiti Park and
the development of a fire station in the Northeast
section of Miami.
Additionally, Asset Management issued a request for
proposals for the redevelopment of the Melreese Golf
Course to include a hotel component and redevelopment of
the City property at 400 SW 8 Avenue, commonly known as
the old Teatro Marti site, as a mixed use development to
include an affordable housing component. With respect to
Melreese Golf Course, the City Commission rejected the
one proposal received so a new RFP will be issued in the
near future. With respect to the Teatro Marti site, this
site will also go out to bid again in the near future
given that the successful proposer was going to require
making substantial changes to its proposal in order to
make it financially viable.
Asset Management further issued a Request for Letters of
Interest for the issuance of a revocable license for the
City-owned property located at 236 SW North River Drive.
An agreement with the successful proposer, Garcia
Brothers, was approved by the City Commission and is
currently being executed.
Asset Management is also responsible for coordinating
all activities associated with the Flagstone Island
Gardens development on Watson Island. These activities
include, but are not limited to, assisting in any
permitting processes, platting, granting of construction
and permanent easements, and facilitating agreements
with the Florida Department of Transportation and the
Department of Offstreet Parking regarding use of
rights-of-way and parking areas. This project consists
of a new mega yacht marina, a four and five star hotel
and approximately 120,000 square feet of retail and
restaurant space. Asset Management is also procuring and
coordinating the necessary services required to relocate
the old heliport on Watson Island to a new location
along the island’s edge where take-offs and landings
will occur over the water.
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