HomeMy WebLinkAboutM-94-0872CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM I�
TO : Honorable Mayor and Members
of the City Commission
FROM :
City
DATE : NUV 2 1 1994 FILE
SUBJECT: Resolution Authorizing a
Lease Agreement with Center
for Health Technologies, Inc.
REFERENCES:
ENCLOSURES:
It is respectfully recommended that the City Commission adopt the attached Resolution
authorizing the City Manager to execute a Lease Agreement with Center for Health
Technologies, Inc., for the use of a City -owned property commonly known as Municipal
Justice Building (MJB) located at 1145 N.W. I Ith Street, for an initial term of nine (9)
years at a minimum annual rental amount of $75,000.00 or forty (40) percent of gross
revenues, whichever is greater, payable monthly, with two (2) options for renewal at a
term of five (5) years each subject to the City Commission's approval.
The City -of Miami is the owner of a property commonly known as the Municipal Justice
Building located at 1145 N.W. 1 Ith Street.
The Center for Health Technologies, Inc., is a Florida Corporation, not -for -profit and
established by Section 381.504 Florida Statutes and approved under 501(c) (3) of the
Internal Revenue Code.
The Center for Health Technologies, Inc.'s proposed use of this City -owned property is
for the purpose of implementing a project of a governmental agency or instrumentality
and therefore exempt from the Fair Market Value and competitive bidding requirements
set forth in City Charter Section 29-B applicable to the disposition of City -owned
property. The Center for Health Technologies, Inc. will use the Municipal Justice
Building property for research, development, design, management, training and
incubation of business regarding biomedical, biotechnical and medical technologies. As
well as the development of a research and development center for Florida's health
technologies industry, it will serve as a catalyst to bring together leading local health
technology firms, others in the industry, academia, agencies of government and economic
development groups.
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Honorable Mayor and
Members of the City Commission
RE: Center for Health Technologies, Inc.
Therefore, it is recommended that the attached resolution authorizing the City Manager to
execute a Lease Agreement, in substantially the form attached, with the Center for Health
Technologies, Inc., for the use of the Municipal Justice Building property, 1145 N.W.
I lth Street, for an initial term of nine (9) years at a minimum annual rental amount of
$75,000.00 or forty (40) percent of gross revenues, whichever is greater, payable
monthly, with two (2) options for renewal at a term of five (5) years each subject to the
City Commission's approval.
Attached: Proposed Resolution
Proposed Lease Agreement
C� 94- 872