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Master Report
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File Number: 12026
Revision: C
Enactment Number: R-22-0263
File Type: Resolution
File Name: Direct City Attorney - Hyatt Ballot Question
Requesting Dept: Department of Real Estate and Asset
Management
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Status: ADOPTED WITH
MODIFICATION(S)
Controlling Body: City Commission
Introduced: 5/24/2022
Final Action Date: 7/28/2022
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION DIRECTING THE CITY
ATTORNEY TO PREPARE A PROPOSED AMENDMENT TO THE CHARTER OF THE
CITY OF MIAMI, FLORIDA ("CHARTER") FOR CONSIDERATION AT THE SPECIAL
ELECTION SCHEDULED FOR NOVEMBER 8, 2022, PROPOSING, UPON APPROVAL
OF THE ELECTORATE, TO AMEND SECTION 29-B OF THE CHARTER, TITLED
"CITY -OWNED PROPERTY SALE OR LEASE -GENERALLY," TO AUTHORIZE THE
CITY COMMISSION, BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, TO WAIVE
COMPETITIVE BIDDING AND AUTHORIZE THE CITY MANAGER TO NEGOTIATE
AND EXECUTE AN AMENDED AND RESTATED LEASE WITH THE EXISTING
TENANT, HRM OWNER LLC, TO PROVIDE A NEW 99-YEAR TERM AND EXPAND
THE LEASE TO INCLUDE THE EXISTING HYATT HOTEL AND JAMES L. KNIGHT
CONVENTION CENTER PROPERTY AT 298, 300, 330, & 400 SOUTHEAST 2ND
AVENUE (COLLECTIVELY, "PROPERTY"), PROVIDING FOR THE REDEVELOPMENT
OF THE PROPERTY TO INCLUDE AT LEAST A 615 KEY HOTEL, 188,000 SQUARE
FEET OF CONVENTION/MEETING SPACE, 682 APARTMENTS, PARKING,
ADDITIONAL PUBLIC OPEN SPACE, AND AN EXPANDED PUBLIC RIVERWALK, ALL
AT NO COST TO THE CITY, FOR NO LESS THAN FAIR MARKET VALUE RENT,
CONSISTING OF THE GREATER OF PARTICIPATION RENT EQUAL TO 2.5% OF
GROSS REVENUES OR AN INCREASE OF MINIMUM RENT FROM $250,000 TO
$2,500,000 ANNUALLY, AND FURTHER PROVIDING THAT TENANT SHALL MAKE A
$25,000,000 CONTRIBUTION TO AFFORDABLE HOUSING, WITH RESTRICTIONS,
REVERSIONS, AND RETENTION BY THE CITY OF ALL OTHER EXISTING CITY
RIGHTS, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY.
Notes:
Links:
Attachments: 12026 Exhibit A (OBSOLETE) (PDF)
12026 Submittal -Brett Bibeau-Miami River Commission Letter (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action:
Jacqueline Lorenzo
7/18/2022
A Marie Gouin
7/18/2022
A Arthur Noriega V
7/19/2022
B City Commission
7/28/2022
B City Commission
7/28/2022
C Mayor's Office
7/28/2022
Department Head Review
Budget Review
City Manager Review
Meeting
ADOPTED WITH
MODIFICATION(S)
Signed by the Mayor
Result:
Completed
Completed
Completed
Completed
Passed
Completed
City of Miami Page 1 of 2 Printed on: 8/9/2022
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CON ��F�.�, City of Miami City Hall
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Master Report g
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Enactment Number: R-22-0263
City Clerk's Office 7/28/2022 Signed and Attested by the City Completed
Clerk
Victoria Mendez 8/2/2022 Approved Form and Completed
Correctness with Modification(s)
City Clerk's Office 8/2/2022 Rendered Completed
City of Miami Page 2 of 2 Printed on: 8/9/2022