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HomeMy WebLinkAboutAgenda Item Cover PageG*�Y of AGENDA ITEM COVER PAGE File ID: #12524 Losi9 Resolution Sponsored by: Commissioner Christine King A RESOLUTION OF THE MIAMI CITY COMMISSION, AUTHORIZING THE CITY MANAGER TO ALLOCATE AND APPROPRIATE TWENTY-FIVE PERCENT (25%) OF ALL RENT REVENUES GENERATED FROM THE MIAMI FREEDOM PARK STADIUM LEASE AND COMMERCIAL LEASE TO THE ANTI -POVERTY INITIATIVE ("API") PROGRAM FUND OF THE CITY OF MIAMI ON AN ANNUAL BASIS FOR THE DURATION OF THE STADIUM LEASE AND COMMERCIAL LEASE; AUTHORIZING THE FUNDING TO BE ALLOCATED AND APPROPRIATED ACCORDING TO THE ANTI -POVERTY INITIATIVE PROGRAM GUIDELINES AND DISTRIBUTED TO EACH COMMISSION DISTRICT AND THE MAYOR; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE(S). of .�f City of Miami City Hall * INC IIf 1°AT10 * 3500 Pan American Drive .r;<. 11 eA Legislation Miami, FL 33133 Resolution www.miamigov.com Enactment Number: R-22-0365 File Number: 12524 Final Action Date:9/22/2022 A RESOLUTION OF THE MIAMI CITY COMMISSION, AUTHORIZING THE CITY MANAGER TO ALLOCATE AND APPROPRIATE TWENTY-FIVE PERCENT (25%) OF ALL RENT REVENUES GENERATED FROM THE MIAMI FREEDOM PARK STADIUM LEASE AND COMMERCIAL LEASE TO THE ANTI -POVERTY INITIATIVE ("API") PROGRAM FUND OF THE CITY OF MIAMI ON AN ANNUAL BASIS FOR THE DURATION OF THE STADIUM LEASE AND COMMERCIAL LEASE; AUTHORIZING THE FUNDING TO BE ALLOCATED AND APPROPRIATED ACCORDING TO THE ANTI -POVERTY INITIATIVE PROGRAM GUIDELINES AND DISTRIBUTED TO EACH COMMISSION DISTRICT AND THE MAYOR; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE(S). WHEREAS, on September 23, 2014, the City of Miami ("City") adopted Resolution No. R-14-0362 establishing the Anti -Poverty Initiative ("API"); and WHEREAS, the purpose of the API is to reduce poverty within the City based on a strategy of providing support to the City's neediest residents in order to achieve self-sufficiency; and WHEREAS, on May 23, 2019, the City Commission adopted Resolution No. R-19-0202 establishing the API Program guidelines; and WHEREAS, the City is the fee simple owner of approximately one hundred thirty-one (131) acres of real property generally located at 1400 Northwest 37th Avenue, Miami, Florida 33125, identified as folio numbers 01-3132-000-0080 and 01-3132-000-0090, and commonly known as the Melreese Country Club ("Parent Tract"); and WHEREAS, Miami Freedom Park, LLC ("MFP") desires to design and develop approximately seventy-three (73) acres of the Parent Tract ("Demised Property") for the purposes of constructing a soccer stadium, entertainment center including food and beverage venues, offices, retail, hotel and conference center, and other ancillary commercial development ("Project"); and WHEREAS, on July 18, 2018, the City Commission adopted Resolution No. R-18-0308 and Resolution No. R-18-0309 approving a proposed amendment to the City Charter to waive competitive bidding and enter into a lease of the Demised Property for the Project; and WHEREAS, on November 6, 2018, a Charter amendment was approved by a majority of the voters in the referendum election, as acknowledged by Resolution No. R-18-0554; and WHEREAS, on April 28, 2022, the City Commission authorized the negotiation and execution of a Ground Lease for Soccer Stadium Development ("Stadium Lease") and Ground Lease for Miami Freedom Park Commercial Development ("Commercial Lease") of the Demised Property for the Project; and WHEREAS, the initial term of the Stadium Lease is thirty (30) years with two additional options to renew until the sixty-ninth (69th) lease year and ninety-ninth (99th) lease year, 2 respectively, and as further defined in the Stadium Lease; and WHEREAS, the initial term of the Commercial Lease is thirty-nine (39) years with two additional options to renew of thirty (30) years each, and as further defined in the Commercial Lease; and WHEREAS, pursuant to the approved Charter amendment the annual rent to be collected by the City from the Stadium Lease and Commercial Lease shall under no circumstances be less than three million, five hundred seventy-seven thousand, three hundred sixty-five dollars ($3,577,365) per year ; and WHEREAS, for the purposes stated herein, the rent calculation shall include annual rent collected pursuant to the Stadium and Commercial Lease plus all increases and adjustments to rent as outlined in the Stadium Lease and Commercial Lease, collectively ("Rent"); and WHEREAS, the City Commission has determined that for the duration of the Stadium Lease and Commercial Lease it is in the City's best interest that twenty-five percent (25%) of the Rent collected shall be allocated to the API Program Fund and distributed per API program guidelines to each Commission District and the Mayor on an annual basis; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The City Manager is authorized' to allocate and appropriate twenty-five percent (25%) of the annual rent revenues from the Stadium Lease and Commercial Lease inclusive of all increases and adjustments to rent, collectively "Rent" as outlined in the lease agreement on an annual basis for the duration of the Stadium Lease and Commercial Lease to the City's API Program Fund and distribute same according to the API program guidelines to each Commission District and the Mayor. Section 3. The City Manager is further authorized' to negotiate and execute all other necessary documents, all in forms acceptable to the City Attorney, subject to and in compliance with all applicable laws, rules, and regulations. Section 4. This Resolution shall become effective immediately upon its adoption. ' The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to, those prescribed by applicable City Charter and City Code provisions. APPROVED AS TO FORM AND CORRECTNESS: 91 DI \ I /�t6ria-Wdez, City AttoTey ---) 9/13/2022 /�ii t4ria-TTdez, City Attorhey _) 10118/2022 1. Revision A has the Scrivener's amendment by law department and per legal opinion, it may be certified instead of the original version. 2. Pursuant to the resolution, this item became effective immediately upon adoption by the Commission.