HomeMy WebLinkAboutCRA-R-17-0037 Backup-Global Agreement40 5q�4
INTERLOCAL AGREEMENT BETWEEN THE CITY OF MIAMI, MIAMI-DADE
COUNTY, SOUTHEAST OVERTOWN PARK WEST CRA AND OMNI CRA TO
PROVIDE FUNDING FOR MAJOR PROJECTS FOR THE BENEFIT OF ALL
PARTIES
This Agreement, dated as of December 3), 2007, is made and entered
into by the City of Miami (the "City"), Miami -Dade County (the "County"),
Southeast Overtown Park West Community Redevelopment Agency (the
"SEOPW CRA") and the Omni Community Redevelopment Agency (the "Omni
CRA"). The SEOPW CRA and the OMNI CRA are sometimes referred to herein,
collectively, as the "CRAs".
RECITALS
A. The City, the County and the CRAs (collectively, the "Parties")
acknowledge that the following projects (collectively, the "Projects") are of great
benefit to the CRAs and the community in general, for reasons which include the
reasons set forth below, and are supportive of said Projects:
1. Performing Arts Center (the "PAC'T This project has been, and
continues to be a catalyst in attracting development and private
investment within the OMNI CRA area as well as downtown Miami.
2. Port Tunnel (the "Port Tunnel"): This project consists of
widening of the MacArthur Causeway Bridge, construction of a tunnel
between Watson Island and Dodge Island and roadway improvements on
Watson Island and the Port of Miami. It will ensure the economic viability
and growth of the Port of Miami, the second most important economic
generator in the region accounting for over 17,000 jobs and $2.2 billion
annually in total economic benefit to the City and its residents. Further,
the Tunnel Project will reduce congestion and improve the quality -of -life of
the Omni CRA and SEOPW areas as well as downtown Miami by
removing over 5,000 port -bound trucks per day from area streets.
3. Museum Park Project (the "Museum Park"): Museum Park is the
City of Miami's urban redesign vision for the park now known as
Bicentennial Park, a 29-acre property on Biscayne Bay which serves and
will serve the residents of the OMNI CRA, the SEOPW CRA and well as
the entire region. This project includes a premier public park anchored by
landmark new facilities for the Miami Art Museum (MAM) and the Miami
Museum of Science and Planetarium (MMSP), which will include a branch
of the Historical Museum of Southern Florida. The building will be
designed around energy -saving, sustainable materials and techniques.
The goals of Museum Park include the restoration of the park's waterfront
land to public use, revitalization of the OMNI CRA, the SEOPW CRA and
surrounding neighborhoods, the building of a first-class educational and
cultural resource for the region's residents and visitors, and will strengthen
the economy by contributing to tourism, the region's number one industry.
Studies indicate that over the course of their first decade, MAM and the
MMSP at Museum Park will have a $2 billion economic impact and will
create 1,700 jobs in the community annually.
4. Streetcar Project (the "Streetcar"): The Streetcar will provide
an energy -efficient and convenient alternative mode of transportation
connecting the City's - most densely populated and urbanized areas,
including Downtown, Overtown, Omni, Wynwood/Edgewater, Midtown,
Design District and the Civic Center/Health District. The Streetcar service
will promote mass transit use and connect with Miami -Dade Transit
(Metromover, Metrorail and Metrobus). The Streetcar circulator will
substantially address the City's need to comply with State Bill 360, the
Growth Management Act as a multi -modal project improving mobility and
meeting transportation concurrency.
5. Orange Bowl Stadium (the "New Orange Bowl"): It is
contemplated by the City that the New Orange Bowl may be redeveloped
into a soccer stadium for a Major League Soccer franchise. It will also
include parking, and may include retail, entertainment, park and open
spaces and related amenities. The New Orange Bowl will be designed
and developed to be compatible with the Baseball Project aesthetically
and operationally. This project is intended to bring economic growth and
vibrancy to the heart of Little Havana and surrounding corridors and
neighborhoods. Funding for and construction of a New Orange Bowl will
not commence until Major League Soccer awards Miami an expansion
franchise.
6. Baseball Project (the "Baseball-Proiectl: The Orange Bowl
Site will be developed to include a new $515 million first class retractable
roof Major League Baseball stadium for the use of the Florida Marlins.
City and the County have been working together to bring professional
baseball to the City of Miami and the availability of the Orange Bowl Site
offers the perfect opportunity to combine professional baseball with the
New Orange Bowl at a completed redeveloped Orange Bowl site with
parking, retail, entertainment and related amenities. A major league
baseball team will benefit the entire community and region, by, among
other things, creating jobs and attracting tourism, providing both a direct
and indirect increase in tax revenue. The Baseball Project will serve as
an engine for economic development creating 250 full time and 2,000 part
time jobs. In addition, construction of the project is expected to generate
approximately 1,700 high paying jobs during the construction period of
approximately 29 months.
7. Parking: The Orange Bowl site ' will be redeveloped to include at
least 6,000 parking spaces to be funded by the City to support the
Baseball Project and the New Orange Bowl which will be available for the
opening of the Baseball Project. These parking structures are necessary
and will benefit the entire community by supporting the economic
development created by the aforementioned uses of the Orange Bowl site.
B. The Parties agree that the development of the Projects requires the
cooperation and commitment of all of the Parties to assist in identifying funding
sources, reallocating the use of existing revenues, including TIF Revenues, and
expanding the boundaries and extending the terms of the CRAs, all as
hereinafter provided.
NOW, THEREFORE, in consideration of the foregoing, the Parties agree
as follows:
1. Recitals: The recitals are true and correct and are hereby
incorporated into and made a part of this Agreement.
2. Agreement: The Parties agree to take all action necessary to
accomplish the purposes of this Agreement, as hereinafter set forth, in a prompt
and efficient manner. The parties acknowledge that the process of expanding
the boundaries and extending the term of the OMNI and SEOPW CRAs, include
the preparation and adoption of findings of necessity for the expanded areas and
amendments to the corresponding redevelopment plans of the CRAs. The
parties agree to cooperate and act expeditiously and in good faith in
implementing the steps necessary to accomplish this purpose.
3. The OMNI CRA: The City, the County and the OMNI CRA agree
to approve and execute an amendment (the "First Amendment to OMNI CRA
Interlocal") in substantially the form attached hereto as Exhibit "A". The First
Amendment to the OMNI CRA Interlocal provides the process the City, the OMNI
CRA and the County will follow to extend the term of the OMNI CRA through
2030 and expand its boundaries to include Watson Island and Bicentennial Park.
The City, the County and the OMNI CRA agree to cooperate and act
expeditiously so as to present the finding of necessity and the amendment to the
redevelopment plan to the Board of County Commissioners within 9 months
following the execution of the First Amendment to OMNI CRA Interlocal.
The City and the OMNI CRA agree to amend the redevelopment plan to
include the projects listed below in their proposed amendment to the
redevelopment plan and to propose using the amounts received by the OMNI
CRA from the City and the County to fund those Projects required by it to fund in
the manner described below.
a. PAC (To the County for repavment of PAC Bonds and/or
loans: In furtherance of such expeditious utilization of funds for the
County's payment of debt service on the Performing Arts Center
Bonds and/or Loans, the CRA shall remit to the COUNTY (a) on
March 31, 2008 and every March 31 st thereafter ending on March
31, 2012, the first $1.43 million of Increment Revenue (as such
term is defined in the First Amendment) plus an amount equal to
thirty-five percent (35%) of the amount by which the Increment
Revenue from the Omni Community Redevelopment Area exceeds
$1.43 million; and (b) commencing March 31, 2013 and every
March 31 thereafter until March 31, 2027, including any additional
time extensions beyond March 31, 2027, an amount equal to the
greater of $1.43 million or thirty-five percent (35%) of the Increment
Revenue from the Omni Community Redevelopment Area;
provided, however, the amounts to be remitted by the CRA as
calculated in accordance with subsections (a) and (b) shall not
exceed $25 million in any fiscal year. The City and County
acknowledge that these funds are necessary to provide for the City
and County contributions to the Baseball Project.
b. Port Tunnel: $88 million .(approximately) to be paid to the
City in annual installments commencing upon substantial
completion of the Port Tunnel Project through 2030. This amount
will fund the City's contribution towards the Port Tunnel project.
C. Museum Park: An amount necessary to fund $68
million for capital improvements to the park component of the
Project, to be funded by the OMNI CRA and completed by the City
by no later than January 2012, and an annual contribution to the
park's capital expenditure fund of $2 million, payable commencing
on the date of substantial completion of the park component of the
Project through 2030.
4. Tourist Development Tax (TDT) and Convention Development
Tax (CDT) funds: The Parties acknowledge that the OMNI CRA Amendment
will result in an increase in the availability of CDT and TDT revenues for projects
other than the PAC, which the parties agree to use for the Baseball Project and
the Parking/Balance of Orange Bowl Site. The City and County agree that the
implementation of the OMNI CRA Amendment will permit the County to release
additional sufficient TDT and CDT dollars so that municipal bonds may be issued
for the redevelopment of the Orange Bowl site as follows:
a. The Baseball Project:
City: The City will fund $10 million from CDT
revenues.
County: The County will fund $88 million from TDT
revenues and $10 million from tourist taxes
(CDT or PST) revenues.
b. Parking/Balance of Orange Bowl Site: The City will fund
$50 million from CDT revenues.
5. The SEOPW CRA.
a. The City and the SEOPW CRA agree to generate a Finding
of Necessity study to substantiate the expansion of the boundaries
of the SEOPW district to include the geographic area described in
Exhibit "B" hereto. If the City and the SEOPW CRA each adopt a
resolution, supported by data and analysis, which makes a
legislative finding that the conditions in the area meet the criteria
described in Section 163.340(7) or (8), the City and the SEOPW
CRA agree to provide the County with the adopted Finding of
Necessity study and resolutions for the Board's review and
consideration, as set forth in Section 163.355, Florida Statutes.
b. After making the legislative findings and adopting the Finding
of Necessity study, the City and the SEOPW CRA agree to prepare
and consider a resolution that approves, after a public hearing, an
amendment to the Plan, which amendment shall (i) be in the form
of the Amended 2004 Southeast Overtown/Park West Community
Redevelopment Plan prepared by Dover, Kohl & Partners, but
updated to include the projects proposed for the expanded
boundaries; and (ii) extend the life of the SEOPW CRA to March
31, 2030; and (ii) expand the boundaries of the SEOPW District. If
the City and the SEOPW CRA each adopt a resolution that
approves the amendment to the Plan and that recommends to the
County their approval of the amendment to the Plan, they agree to
provide the County with the adopted amendment for review and
consideration by the Board of County Commissioners after a public
hearing, as set forth in Section 163.361, Florida Statutes.
C. Upon receipt of the adopted Finding of Necessity and
amendment to the Plan the County agrees to review, comment,
prepare and recommend for the Board's consideration the Finding
of Necessity and amended Redevelopment Plan. The CRA shall
report such proposed modification to the boundaries of the
redevelopment area to each taxing authority in writing or by oral
presentation, or both, as required by Section 163.361(3)(a), Florida
Statutes. The City and the SEOPW CRA agree that, in accordance
with the provisions of Section 163.361, Florida Statutes, the Board
shall only consider approval of the Finding of Necessity and the
amended Plan after the SEOPW CRA has complied with the
provisions of Section 163.361(3)(a), Florida Statutes.
d. The City and the SEOPW CRA understand that the process
of reviewing the amended Redevelopment Plan will entail mutual
cooperation from the County, City and SEOPW CRA, and that
delays in the review process may delay when the Board consider
the items. The City, the SEOPW CRA and the County agree that
the approval of this Agreement by the parties does not constitute
approval of those matters in the Finding of Necessity and the
amendment to the Plan which require approval by the SEOPW
CRA, the City Commission and the Board. Therefore, the parties
agree that as a matter of their sovereign power and legislative
authority if the SEOPW CRA, the City Commission and/or the
Board do not approve a resolution adopting the finding of necessity
and/or the amendment to the Plan, the failure to approve such
resolution or amendment to the Plan shall not be deemed an event
of default under this Agreement and the parties shall not be liable to
each other.
e. The City, the County and the SEOPW CRA agree that
commencing fiscal year 2017 and ending fiscal year 2030, the
amount of TIF Revenues collected from the projects listed in Exhibit
C budgeted annually for expenditure by the SEOPW CRA from the
SEOPW CRA trust fund shall not exceed 50% of Increment
Revenues collected from such projects in such fiscal year and
deposited in the SEOPW CRA trust fund for such year. The City,
the County and the SEOPW CRA agree that the SEOPW CRA
shall return the balance of the Increment Revenues (45%) collected
from the projects listed in Exhibit C for such year to each taxing
authority which paid the increment in the proportion that the amount
of the payment of such taxing authority bears to the total amount
paid into the trust fund by all the taxing authorities for that year. It
is the primary intent of the City and the County that SEOPW CRA
tax increment revenues on deposit in the SEOPW Trust Fund will
be allocated by the SEOPW CRA towards the development of
affordable housing and related infrastructure in the SEOPW CRA
district.
f. The County agrees that it shall begin to make a $20 million
contribution to the City to be applied toward the funding of the
Streetcar project upon the later of (i) September 30, 2017 or (ii) the
receipt of the requisite approvals for the streetcar project by the
State of Florida and the MPO. The County's Streetcar project
contribution may be made in a lump sum or in annual installments
sufficient to issue tax—exempt municipal bonds with a debt service
coverage dictated by the market commencing on the date of
substantial completion of the streetcar project.
6. Annual Budget. The County agrees to waive any claims it may
have to approve the annual budget for the CRAs for fiscal years prior to the fiscal
year commencing October 1, 2008.
7. Waiver of Administrative Fee. The County agrees to waive the
5% administrative fee chargeable to the CRAs.
8. Extension of Reverter. The County agrees to place an item on
the agenda for the first meeting of the Board of County Commissioners in
January 2008, considering an extension of the reverter date of the properties
described in Exhibit "D" or a re -conveyance of said properties to the City, if the
reverter has already occurred.
9. Time of the Essence: Time is of the essence in the
performance of this Agreement.
10. Condition Subsequent: The County, the City and the Florida
Marlins, L.P. (the "Team") agree that the funding commitments to the PAC, as set
forth in this Agreement and in the First Amendment to OMNI CRA Interlocal, and
to the New Orange Bowl, as contemplated herein, shall be void unless a binding
agreement for the Baseball Project (the "Baseball Stadium Agreement") is
executed, containing the following provisions:
(i) Total Baseball Stadium cost will not exceed $515 million;
(ii) Team's contribution to the Stadium cost shall not be less than $155
million;
(iii) Team will not request more than 6,000 parking spaces at the new
Orange Bowl Site;
(iv) The Team, the City and the County shall act in good faith and will
be reasonable in negotiating the Baseball Stadium Agreement.
11. Severability: If one or more of the provisions of this agreement
shall be held contrary to any provision of law or be held invalid, then such
provision or provisions shall be null and void and shall be separate from, and
have no effect on, the remaining provisions which shall continue to be legal and
valid.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be
executed as of the date first above written.
City of Miami
aVI '�e,u
Approved as to Form and Correctness Approved as to InsuXnce R6quirements
By: 10, —By: W 'Y
JorgWL Fernandez, City Attorney LeeAnn Brehm, Actor, Risk
Management
Attest: Miami -Dade County
By:
�ounty M or
Southeast Overtown Park West
Community Redevelopment Agency
Approved as to Form and Legal
Sufficiency:
f 7
By:
County Atto ey
Omni Community Redevelopment
Agency
By ; ��
Approved as to form and correctness:
By: —
rge L. Fernandez
CRA General Counsel
JOINDER
Florida Marlins, L.P. joins in the execution of this Agreement to acknowledge its
agreement to the provisions contained in Paragraph 10.
Florida Marlins, L.P.
First Amendment to Interlocal Cooperation Agreement dated June 24,
1996 by and among Miami -Dade County, the City of Miami and the
Community Redevelopment Agency for the Omni District
This First Amendment to Interlocal Cooperation Agreement ("First Amendment") is
made and entered into this day of , 2007 by and among Miami -Dade
County, a political subdivision of the State of Florida (the "County"), the City of
Miami, a municipal corporation of the State of Florida (the "City") and the Community
Redevelopment Agency for the OMNI district, a public body corporate and politic (the
"CRA„
WITNESSETH
WHEREAS, pursuant to Resolution No. R-280-96 adopted by the Board of
County Commissioners of Miami -Dade County (the "Board") on March 19, 1996, the
Board approved the terms and execution of an Interlocal Cooperation Agreement by and
among the County, the City and the CRA (the "Interlocal"), which Interlocal was dated
June 24, 1996 and contained provisions for the CRA to make certain payments to the
County for the purpose of paying debt service on the Performing Arts Center Bonds; and
WHEREAS, the Interlocal obligates the CRA to pay the first S 1.43 million of tax
increment fund revenues collected each year to the County for the payment of the County
Debt Service Payment, which obligation ceases when the Performing Arts Center Bonds
are no longer outstanding; and
WHEREAS, construction costs for the Performing Arts Center have escalated
and exceeded the estimated budget at the time of the original Interlocal; and
WHEREAS, the County has issued additional Performing Arts Center Bonds and
has borrowed funds pursuant to one or more loan agreements ("Loans") for the purpose
of funding such higher construction costs of the Performing Arts Center; and
WHEREAS, the County, the City, and the CRA recognize that the Performing
Arts Center has been an enormous catalyst and remains such in attracting significant
development and private investment to the City's Omni district; and
WHEREAS, the catalytic impact of the Performing Arts Center to the Omni
district has contributed to the substantial growth of the Omni district's tax roll which will
provide resources for important future projects; and
WHEREAS, the County, the City, and the CRA desire to provide additional tax
increment revenues from the CRA for the purpose of paying debt service on all
outstanding Performing Arts Center Bonds and Loans and to fund other CRA projects;
and
WHEREAS, the County, the City, and the CRA agree that the First Amendment
to the Omni Community Redevelopment Plan, as supplemented by Addendum II, was
approved by the Board on April 8, 1997; therefore, the term of the Omni District shall
expire on September 30, 2027; and
WHEREAS, the County, the City, and the CRA acknowledge their interest and
the benefits of further extending the life and expanding the boundaries of the Omni
district to, among other things, include infrastructure, the Port Tunnel and Museum Park
projects; and
WHEREAS, the County, the City, and the CRA acknowledge that, in order to
expand the boundaries of the Omni District, it will be necessary to prepare and adopt a
finding of necessity for the expanded area and amend the Community Redevelopment
Plan for the Omni district (the "Plan"); and
WHEREAS, the County, the City and the CRA acknowledge that the steps and
corresponding period of time necessary to expand the boundary of the Omni district vary
and agree to cooperate, act expeditiously and in good faith in implementing the steps,
NOW THEREFORE, THE COUNTY, THE CITY AND THE CRA AGREE
AS FOLLOWS:
I. The recitations set forth above are true and correct and adopted as part of this
First Amendment.
II. All terms in capitalized form, unless otherwise defined in this First
Amendment, shall have the same meaning as ascribed to them in the
Interlocal.
III. The Interlocal dated June 24, 1996, attached and made a part of this First
Amendment is amended in the following respects:
A. Article II, Section C, Project Financing, Subsection 1. is amended and
restated to read as follows:
The CRA shall administer and manage the Fund as required by law and
develop and promulgate rules, regulations and criteria whereby the Fund
may be promptly and effectively administered, including the establishment
and the maintenance of books and records and adoption of procedures
whereby the COUNTY may, expeditiously and without undue delay,
utilize such funds in accordance with the COUNTY approved budget for
the Performing Arts Center, and whereby the CRA may, expeditiously and
without undue delay, utilize the funds other than those dedicated to the
County for the purpose of paying debt service on the Performing Arts
Center Bonds and/or Loans, in accordance with the COUNTY approved
budget for those aspects of the PROJECT not related to the Performing
Arts Center. In furtherance of such expeditious utilization of funds for the
County's payment of debt service on the Performing Arts Center Bonds
and/or Loans, the CRA shall remit to the COUNTY (a) on March 31, 2008
and every March 31" thereafter ending on March 31, 2012, the first $1.43
million of Increment Revenue (as such tern is defined in this paragraph)
plus an amount equal to thirty-five percent (35%) of the amount by which
the Increment Revenue from the Omni Community Redevelopment Area
exceeds $1.43 million; and (b) commencing March 31, 2013 and every
March 31 thereafter until March 31, 2027, an amount equal to the greater
of $1.43 million or thirty-five percent (35%) of the Increment Revenue
from the Omni Community Redevelopment Area; provided, however, the
amounts to be remitted by the CRA as calculated in accordance with
subsections (a) and (b) shall not exceed $25 million in any fiscal year.
"Increment Revenue" means all the Increment revenue (as such term is
defined in Section 163.340(22) and calculated using ninety-five percent
(95%) in the calculation pursuant to Section 163.387(1), Florida Statutes
(2006)) from the Omni District (including any expanded boundaries).
Exhibit A to this Amendment contains examples of the operation of this
clause. The amounts to be remitted by the CRA in accordance with this
Section shall be used for the purpose of paying debt service on all
Performing Arts Center Bonds and/or any Loans (the "County Debt
Service Payment"). The CRA's last payment to the County of the
amounts set forth above shall occur on March 31, 2027. The parties agree
that the term of the Omni District and the CRA shall expire on September
30, 2027 and all remaining funds on deposit in the Fund shall be remitted
to the applicable taxing authorities as provided in the Act. If the County
sells any additional Performing Arts Center Bonds or incurs any additional
Loans with regard to the Performing Arts Center, the COUNTY shall
ensure that all documentation relating to such Bonds or Loans shall limit
the liability of the CRA to the amounts due from the CRA to the County
as provided in this Agreement.
The CRA shall be annually compensated for all administrative services
rendered with respect to any and all aspects of the PROJECT subject to
availability of revenue in the Fund. Such administrative expenses payable
out of the Fund shall be capped at an amount not to exceed twenty percent
(20%) of the annual budget approved by the COUNTY.
C. Article II, Section C, Project Financing, Subsection 4. is amended and
restated to read as follows:
The CRA may issue bonds and/or incur indebtedness required to finance
the PROJECT provided such bonds and/or indebtedness is subordinate to
all Performing Arts Center Bonds and/or Loans; provided, however, such
subordinate bonds and/or indebtedness shall mature not later than
September 30, 2027. The subordination of bonds and/or indebtedness
issued by the CRA referred to in the preceding sentence shall relate to the
amount of Increment Revenue reserved for the COUNTY pursuant to the
provisions of Article II, Section C, subsection I above. Prior to the
issuance of any bonds or the incurrence of any indebtedness, the
COUNTY shall review and approve all related documents and agreements.
The CRA shall not withhold the payment to the County of the amount of
Increment Revenue reserved for the COUNTY pursuant to the provisions
of Article II, Section C, subsection 1 above for any reason,
notwithstanding any other activities, actions, claims, or causes of action
related to the PROJECT.
Add Article VI titled Other Provisions to read as follows:
A. Amendment to Plan.
(a) The City and the CRA agree to generate a Finding of Necessity
study to substantiate the expansion of the boundaries of the Omni
district to include a geographic area, which will include
Bicentennial Park and Watson Island. If the City and the CRA
each adopt a resolution, supported by data and analysis, which
makes a legislative finding that the conditions in the area meet the
criteria described in Section 163.340(7) or (8), the City and the
CRA agree to provide the County with the adopted Finding of
Necessity study and resolutions for the Board's review and
consideration, as set forth in Section 163.355, Florida Statutes.
(b) After making the legislative findings and adopting the Finding of
Necessity study, the City and the CRA agree to prepare and
consider a resolution that approves, after a public hearing, an
amendment to the Plan, which amendment shall (1) extend the life
of the CRA to March 31, 2030; and (ii) expand the boundaries of
the Omni District; and (iii) to add the Port Tunnel and the Museum
Park as projects eligible for tax increment financing. If the City
and the CRA each adopt a resolution that approves the amendment
to the Plan and that recommends to the County their approval of
the amendment to the Plan, they agree to provide the County with
the adopted amendment for review and consideration by the Board
of County Commissioners (the "Board") after a. public hearing, as
set forth in Section 163.361, Florida Statutes.
(c) Upon receipt of the adopted Finding of Necessity and amendment
to the Plan the County agrees to review, comment, prepare and
recommend for the Board's consideration the Finding of Necessity
and amended Redevelopment Plan. The CRA shall report such
proposed modification to the boundaries of the redevelopment area
to each taxing authority in writing or by oral presentation, or both,
as required by Section 163.361(3)(a), Florida Statutes. The City
and the CRA agree that, in accordance with the provisions of
Section 163.361, Florida Statutes, the Board shall only consider
approval of the Finding of Necessity and the amended Plan after
the CRA has complied with the provisions of Section
163.361(3)(a), Florida Statutes.
(d) The City and the CRA understand that the process of reviewing the
amended Redevelopment Plan will entail mutual cooperation from
the County, City and CRA, and that delays in the review process
may delay when the Board consider the items.
B. Limitations on Approvals. The City, the CRA and the County agree that
the approval of this Agreement by the parties does not constitute approval
of those matters in the Finding of Necessity and the amendment to the
Plan which require approval by the CRA, the City Commission and the
Board. Therefore, the parties agree that as a matter of their sovereign
power and legislative authority if the CRA, the City Commission and/or
the Board do not approve a resolution adopting the finding of necessity
and/or the amendment to the Plan, the failure to approve such resolution or
amendment to the Plan shall not be deemed an event of default under this
Agreement and the parties shall not be liable to each other.
C. Annual Budzet. The County agrees to waive any claims it may have to
approve the annual budget for the Omni District for fiscal years prior to
the fiscal year commencing October 1, 2008.
D. Waiver of Administrative Fee. The County agrees to waive the 1.5%
administrative fee chargeable to the Omni District.
IV. In all other respects, the Interlocal Cooperation Agreement is ratified and
confirmed.
V. In the event of any conflict between the Interlocal Agreement and this First
Amendment, the terms of the First Amendment shall control.
VI. The City, the CRA and the County agree that the CRA's funding commitment
to the County for County Debt Service Payment, as set forth in Section III. A.
of this First Amendment, shall be void unless a binding Baseball Stadium
Agreement between the County, the City and the Florida Marlins is executed,
containing the following provisions:
A. The total baseball stadium cost will not exceed $515 million;
B. The Florida Marlin's contribution to the stadium cost shall not be less than
$155 million;
C. The Florida Marlins will not request more than 6,000 parking spaces at the
new Orange Bowl site.
D. The Florida Marlins, the City and the County shall act in good faith and
will be reasonable in negotiating the aforementioned Baseball Stadium
Agreement.
IN WITNESS WHEREOF, the parties have caused this First Amendment to be
executed in their names by their duly authorized officers, all as of the day and year first above
written.
City of Miami, a municipal corporation
of the State of Florida
Pedro G. Hernandez
City Manager
ATTEST:
IRn
Priscilla A. Thompson,
City Clerk
Approved as to form and correctness
an
Jorge L. FernandezM/
City Attorney �`�
Omni Redevelopment District Community
Redevelopment Agency, of the City of
Miami, a public agency and body
corporate created pursuant to
Section 163.356, Florida Statutes ("CRA")
LOIN
James H. Villacorta,
Executive Director
ATTEST:
By:
Priscilla A. Thompson
Clerk of the Board
Miami -Dade County, a political subdivision
of the State of State of Florida
By:
George Burgess
City Manager
Deputy Clerk
Approved as to form and legal sufficiency:
County Attorney
Approved as to form and legal sufficiency:
By:
Jorge L. Fernandez v
CRA General Counsel
EXHIBIT "A" TO
First Amendment to Interlocal Cooperation Agreement dated June 24,
1996 by and among Miami -Dade County, the City of Miami and the
Community Redevelopment Agency for the Omni District
A,QiimP-
Then:
EXAMPLE 1
i. Payment is due March 31, 2008.
Increment Revenue is equal to $12,000,000.
The CRA shall remit to the County the total of:
(a) S 1,430,000; plus
(b) 35% multiplied by ($12,000,000 minus $1,430,000) or 35% multiplied
by $10,570,000 (which is an amount equal to $3,699,500).
Therefore the amount the CRA shall remit to the County on March 31, 2008 is
equal to $1,430,000 plus $3,699,500 or S5,129,500.
Assume:
Then:
EXAMPLE 2
(1) Payment is due March 31, 2012.
(2) Increment Revenue is equal to $15,000,000.
The CRA shall remit to the County the greater of:
(1) $1,430,000; or
(2) 35% multiplied by $15,000,000 (which is an amount equal to $5,250,000).
Therefore, the amount the CRA shall remit to the County on March 31, 2012 is
equal to $5,250,000.
EXHIBIT "B"
PROPOSED SEOPW CRA EXPANDED BOUNDARIES
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EXHIBIT " CI
[attached]
LARGE SCALE DEVELOPMENT REPORT
SEOPW
Assumed to be completed by December 2011 to be included in January 2012 roll for FY 2013 opetations 436,520,325
Assumed to be completed by December 2012 to be included in January 2013 roll for FY 2014 operations
Assu mil is be completed by December 2013 to be included in Tammy 2014 roll forFY 201,5 ope &'is 1-kbli 349,294:
Too preliminmy for inclusion 18,000,000
Total $2,765,024,567
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EXHIBIT "D"
PARCEL "A":
CERTAIN LOTS IN BLOCK 36 OF P.W. WHITE'S RE -SUBDIVISION:
Lots 1, 2, 3, 6, 7, 8, 9, 10, 11, 14, 15, 16, 17, 18, 19, 22, 23, 24, 26, 27, 30, 31, 32, 33, 34,
35, 38, 39, 40, 41, 42, 43, 46,47 and 48 in Block 36 of P.W. WHITE'S RE -
SUBDIVISION, according to the Plat thereof, recorded in Plat Book 'B' at Page 34 of the
Public Records of Miami -Dade County, Florida; LESS that portion thereof lying within
the Metropolitan Dade County Metrorail right-of-way which is described as follows:
Begin at the Southeast corner of said Block 36; thence run S 87°46'59" W, along the
South line of said Block 36, for a distance of 1.53 feet; thence run N 04°44'53" W for a
distance of 187.90 feet to a point of intersection with the arc of a circular curve concave
to the Southwest, the center of which bears S 82°00'08" W from said point of
intersection; thence run Northwesterly along the arc of said circular curve concave to the
Southwest, having a radius of 987.00 feet, through a central angle of 06°39'50", for an arc
distance of 114.79 feet to the point of intersection with the North line of said Block 36;
thence run N 87"46'14" E, along the North line of said Block 36, for a distance of 27.71
feet to the Northeast corner of said Block 36; thence run S 02'16'19" E, along the East
line of said Block 36, for a distance of 301.01 feet to the Point of Beginning.
PARCEL "B":
BLOCK 45N OF A.L. KNOWLTON'S MAP OF MIAMI:
Lots 1 through 12 inclusive in Block 45N of A.L. KNOWLTON'S MAP OF MIAMI
according to the Plat thereof, as recorded in Plat Book 'B' at Page 41 of Public Records
of Miami -Dade County, Florida.
PARCEL "A":
BLOCK 56N OF A.L. KNOWLTON'S MAP OF MIAMI:
Lots 1 through 12 inclusive in Block 56N of A.L. KNOWLTON'S MAP OF MIAMI
according to the Plat thereof, as recorded in Plat Book 'B' at Page 41 of Public Records
of Miami -Dade County, Florida.
ors:Document GLOBAL AGREEMENT 12-18-07 as amended