Miami-Dade County will try to seize the privately owned fuel yard that keeps PortMiami running and hope a jury will decide the 10-acre property on luxe Fisher Island is worth far less than the $400 million acquisition deal on the table from the condo developers that now own the land.
In an 11-1 vote, the County Commission approved Mayor Daniella Levine Cava’s request to launch an eminent domain proceeding against the fuel yard. That will have Miami-Dade declare itself the owner of the property, put down a deposit for a portion of the land’s alleged value, then go to court to finalize a forced sale. In that trial, a jury would decide how much Miami-Dade must pay for a property that the would-be developers purchased last year for about $180 million.
“I’m not going to let you buy property for $180 million, then flip it [within] months for $400 million,” Commissioner Oliver Gilbert, sponsor of the legislation backing Levine Cava’s legal strategy, told reporters after the vote. “That’s just insane.”…