HomeMy WebLinkAboutSEOPW-CRA-M-02-0165PERSONAL APPEARANCE
Michael Biondi
Technology Center of the Americas
Terremark Management Services
TECHNOLOGY
CENTER
OF THE AMERICAS
Ms. Annette Lewis
Executive Director
Community Redevelopment Agency
300 Biscayne Boulevard Way
Suite 309
Miami, FL 33131
Re: Letter of Intent
Dear Ms. Lewis:
October 8, 2002
The following is a Letter of Intent from the Technology Center of the Americas
("TECOTA") to lease from the Community Redevelopment Agency ("CRA'
approximately 300 parking spaces in lot 58 located on N.W. I" Court between N.W. 8
and N.W. 9 Street, the exact Premises to be defined more specifically in a final
agreement between the parties.
In order to meet Zoning requirements for the City of Miami, it is necessary that
TECOTA provide to any office users within the building one parking space for every 300
square feet of office space leased. At the present time, we are negotiating with two
potential tenants which together will require use of 120 parking spaces.
The parking spaces would be used Monday through Friday from 7:00 a.m. to 6:30
p.m. and on Saturdays from 8:00 a.m. to 1:00 p.m.
Also, we anticipate that over the next twelve months, an additional 180 parking
spaces will be required as more office space in TECOTA is leased.
We are requesting that an agreement be reached between TECOTA and the CRA
to provide for a two-year option in favor of TECOTA to lease up to 300 parking spaces in
lot 58 in order to satisfy the City of Miami Zoning requirement.
TECOTA would provide a shuttle bus from parking lot 58 to the building from
7:00 a.m. to 6:30 p.m. Monday through Friday and from 8:00 a.m. to 1:00 p.m. on
Saturdays. In addition, TECOTA would be responsible for providing the necessary
security within the parking lot during those time periods.
At the time that TECOTA exercises its option to lease any or all of the 300
parking spaces, then the lease term for said parking spaces between TECOTA and the
CRA would be the same lease term that is negotiated between TECOTA and its tenants
50 N.E. 91h Street Miami, Florida 33132
ph:305.377.6719 fx:307.377.3947 $EOPW/CRA,
62- 165
Ms. Chelsa Arscott-Dou,-.,...
October 8, 2002
Page 2
At the time that TECOTA exercises its option to lease any or all of the 300
parking spaces, then the lease term for said parking spaces between TECOTA and the
CRA would be the same lease term that is negotiated between TECOTA and its tenants
who will be using said parking spaces. The lease term would normally be 5, 7 or 10
years.
The CRA would lease the parking spaces to TECOTA and then TECOTA would
sublease said spaces to the tenants in the building. TECOTA would charge the same
daily rate to the tenants that the CRA is charging TECOTA.
No overnight parking would be allowed. The initial rental rate for the base
parking lease would be $2.00 per space per day plus any and all applicable taxes.
TECOTA would pay to the CRA a non-refundable fee of $10,000.00 to secure the
two-year option for the 300 spaces. Said non-refundable fee to be deposited with the
CRA upon execution of the two-year option agreement.
The Option agreement will be effective on November 1, 2002 and terminate on
October 31, 2004. A formal Option agreement and subsequent lease agreement will be
entered into by and between TECOTA and the CRA provided that the above -reference
business terms are acceptable to the parties.
This Letter of Intent is not intended to create a legally binding obligation on either
party. Such an obligation shall be created only when both parties execute a formal
Option agreement. If the Option agreement is not signed, neither party will be liable to
the other under this document or as a result of any preliminary negotiations.
We are available to discuss the terms outlined herein any time at your
convenience. Thank you for your time and consideration regarding this matter. We look
forward to working with you towards the successful completion of these negotiations.
cc: A. Karson
L. Dougherty
Sincerely,
4
Bill Biondi
50 N.E. 911, Street Miami, Florida 33132 SEOPW/CR,r�
ph:305.377.6719 fx:307.377.3947
62- 165
Message
Page i of L
Martinez, Esperanza
From: Villacorta, James H
Sent: Wednesday, October 16, 2002 3:49 PM
To: Martinez, Esperanza
Subject: FW: Subleasing parking spaces for LOT 58
[Villacorta, James H] -----Original Message ----
From: WBLOOM@hklaw.com [mailto:WBLOOM@hklaw.com]
Sent: Thursday, October 10, 2002 11:02 AM
To: Arscott, Chelsa; Vilarello, Alejandro
Cc: Villacorta, James H; Edwards Pierre, Antranette
Subject: RE: Subleasing parking spaces for LOT 58
The letter of Intent submitted by Technology Center of the Americas is for land which is the subject of the Lyric
Village litigation and therefore we would not be in a position to allow them to us the land for parking other than
on a short term basis. There proposal also would tie up the land at substantially below its market value.
Please let me know if you need any further assistance in this regard or if you want me to respond to Mr. Biondi
02- 165
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