HomeMy WebLinkAboutExhibitCITY OF MIAMI
INTER -OFFICE MEMORANDUM
TO: Honorable Mayor and Members
of the City Commission
FROM: Emilio T. Gonzalez.x�
City Manager
DATE: June 3, 2019
SUBJECT: Declaration of Intent -
New Administrative Building
The City Commission adopted resolutions on January 24, 2019 and July 26, 2018 approving the
construction of a New City Administrative Building. The agreement, as competitively Bid and
subsequently negotiated calls for up to $150 million of City Funds to construct the office building,
related parking facilities, and related infrastructure improvements at 230 SW 3rd Street, Miami,
Florida. As such, a Special Obligation Bond or any other financing mechanism advantageous to
the City is necessary.
The Administration is requesting approval to begin the process of issuing taxable and tax-exempt
special obligation bonds or other financing mechanism. These bonds will be used to reimburse
the City for funds advanced for certain expenses incurred with the aforementioned project:
• acquisition of real property at the new site,
• the development, construction, and installation of a new City administration building,
• the development, construction, and installation of related parking facilities, and
• certain capital public infrastructure improvements at the site.
Funds will only be spent on the public portion of the project at 230 SW 3rd Street, Miami, Florida.
Should you have any questions, please contact Christopher Rose, Budget Director, at
(305) 416-1500.