SURPLUS OF PROPERTY RE CIPRES RE LLC

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

Miami-Dade County Board of County Commissioners adopted a resolution (File Number: 260911, Reference: R-526-26) declaring county-owned property as surplus and authorizing 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 4,100 square feet of ground-floor commercial space. The developer, an affiliate of Rilea Group, Inc., will also contribute $800,000 to an endowed scholarship fund for residents of Commission District 3. The housing units will be rented to very low-, low-, or moderate-income households, with specific restrictions on AMI percentages. The conveyance is subject to a rental regulatory agreement and a reverter clause. The Board waived certain notice and procedural requirements for this transaction.