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 (Folio No. 01-3125-004-0160) 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, located in Commission District 3, with an estimated market value of $3,450,000.00. The developer will build 14 multifamily residential units for very low-, low-, or moderate-income households (incomes not exceeding 120% of AMI: 2 units at 80% AMI, 4 units at 100% AMI, 8 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 resolution waives Resolution R-407-19 (four weeks advance notice), Resolution R-376-11 (background information), and Implementing Order 8-4 (guidelines for conveyance). The Housing Committee forwarded the item with a favorable recommendation on 6/9/2026. No public comment or stakeholder sentiment is stated in the document.