SURPLUS OF PROPERTY RE CIPRES RE LLC

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

Miami-Dade County declared a 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 units of affordable housing, with 4,100 square feet of ground-floor commercial space. The developer, an affiliate of Rilea Group, Inc., will rent units to very low-, low-, or moderate-income households, with specific income restrictions per unit. The developer will also contribute $800,000.00 to an endowed scholarship fund for residents of Commission District 3. The conveyance is subject to a rental regulatory agreement and a reverter clause if development is not completed within three years.