HomeMy WebLinkAboutExhibit ALETTER OF INTENT
April 29, 2022
Mr. Erick Hurtado
City of Miami
Department of Real Estate & Asset Management (DREAM)
444 SW 2nd Ave, 3rd Floor
Miami, FL 33127
Dear Sir:
The following sets out the basic terms upon which we would be prepared to the lease the
property described below. The terms are not comprehensive and we expect that additional
terms, will be incorporated into a formal lease agreement to be negotiated. The basic terms
are as follows:
1. Lessee: CITY OF MIAMI
3. Term: 4 Year Lease
4. Term Option: Month to month carry over at end of lease
5. Initial Lease Rate: $20.00 per sq ft. NN lease with the lessor eliminating CAM fees
and covering property taxes
6. Lease Rate Option: Landlord has the option to increase the initial lease rate 3 %
annually during the lease term.
7. Renewal Option: The term will be for an initial 4-year period with an option to
renew an additional 4 years, plus a month to month carry over
provision.
8. Usable sq ft: 1,500 sq ft
9. Security Deposit: The tenant will pay an amount agreed upon by the tenant and
landlord, which will be fully refundable at the end of the lease term,
if the conditions expressed in the lease agreement and executed
letter of intent are satisfied.
10. Lease Period: April 1, 2022 - March 31, 2026
11. Premises: 6140B NW 7t" Avenue, Miami, FL 33127
12. Access: Upon execution of this letter of Intent, the tenant and it's advisors
will have access to the property to begin the necessary assessment
and paperwork to obtain the required documentation for
occupancy.
13. Cost: The tenant will bear their own expenses to build to suit for their
operational needs.
14. Acceptance: If the tenant is agreeable to the foregoing terms, please sign and
return to Lessor within 24 hours of acceptance.
Sincerely,
S:/ D.J. Neree, Esq.
Authorized Signer for Martin Luther King Economic Development Corporation
Dufirstson Julio Neree, Esq.
Printed Name of Authorized Signer
The above terms are accepted this day of 12023.
Authorized Signer for City of Miami
Printed name of Authorized Signer for City of Miami