SURPLUS OF PROPERTY RE CIPRES RE LLC

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

Miami-Dade County Board of County Commissioners adopted Resolution R-526-26 (File Number 260911) on 6/16/2026, declaring County-owned property identified by Folio No. 01-3125-004-0160 in Commission District 3 as surplus and authorizing its conveyance to Cipres RE, LLC, an affiliate of Miami-based Rilea Group, Inc., for $10.00. The property is vacant, estimated by the Property Appraiser to have a market value of $3,450,000.00. The developer will build 14 multifamily residential units of affordable housing for households with incomes not exceeding 120% of area median income (AMI), specifically two units at 80% AMI, four units at 100% AMI, and eight units at 120% AMI, plus approximately 4,100 square feet of ground-floor commercial space ancillary to the residential use. The developer must complete construction and rental within three years of recording the County Deed, subject to a reverter. The developer agreed to contribute $800,000.00 to a not-for-profit 501(c)(3) corporation for an endowed scholarship for students in Commission District 3 within 30 days of execution of the County Deed. The Housing Committee forwarded the item with a favorable recommendation on 6/9/2026. The resolution waives Resolution No. R-407-19 (four weeks advance notice), Resolution No. R-376-11 (background information), and Implementing Order No. 8-4 (procedures for conveyance).