SURPLUS OF PROPERTY RE CIPRES RE LLC

Board of County Commissioners · 2026-06-16 · resolution

Miami-Dade County declared a vacant, county-owned property as surplus and authorized its conveyance to CIPRES RE, LLC for $10.00. The property, identified by Folio No. 01-3125-004-0160, will be developed into 14 multifamily residential units for affordable housing, with rents restricted for very low-, low-, or moderate-income households (not exceeding 120 percent of area median income). The project also includes approximately 4,100 square feet of ground-floor commercial space. CIPRES RE, LLC, an affiliate of Rilea Group, Inc., will also contribute $800,000 to an endowed scholarship fund for students residing in Commission District 3. The developer has three years from the recording of the County Deed to complete the affordable housing development, subject to a reverter clause and a rental regulatory agreement.