HomeMy WebLinkAboutR-89-0514J--89-332
5/11/89
RESOLUTION NO.
A RESOLUTION, WITH ATTACHMENT, AUTHORIZING
THE CITY MANAGER TO EXECUTE AN AMENDMENT TO
THAT CERTAIN LEASE AND DEVELOPMENT AGREEMENT
("LEASE") BETWEEN INDIAN RIVER INVESTMENTS OF
MIAMI, INC. ("DEVELOPER") AND THE CITY OF
MIAMI, ("CITY") DATED JUNE 15, 1988, IN
SUBSTANTIALLY THE FORM ATTACHED, SPECIFICALLY
MODIFYING SECTION 2.5 OF SAID LEASE TO CHANGE
THE RENTALS PAYABLE AND THE MANNER IN WHICH
SUCH RENTALS ARE COMPUTED IN ORDER TO ASSIST
THE DEVELOPER IN COMPLYING WITH THE CRITERIA
FOR PROVIDING INSURED LOANS ESTABLISHED BY
THE U.S. DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT ("HUD").
WHEREAS, the City and Developer entered into a Lease and
Development Agreement on June 15, 1988 for the development of
condominiums on Block 46 of the Southeast Overtown/Park West
Redevelopment Project; and
WHEREAS, HUD has required modifications to Section 2.5 of
the Lease, thereby changing the amount of rentals payable to the
City and the manner in which such rentals are computed, as a
prerequisite to providing insured loans to prospective
condominium owners;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to
execute an amendment to the Lease and Development Agreement
between Indian River Investments of Miami, Inc. (Developer) and
the City of Miami, dated June 15, 1988, in substantially the form
attached, specifically modifying Section 2.5 of said Lease to
change the rentals payable and the manner in which such rentals
are computed in order to assist the Developer in complying with
the criteria for providing insured loans established by the U.S.
Department of Housing and Urban Development.
CITY COMMISSION
MEETING OF
JUN 7 1969
ESOLUTION No.
EMARKS:
Section 2. This Resolution shall become effective
immediately upon adoption pursuant to law.
PASSED AND ADOPTED this 7tb day of June r 1989.
AVIER L. S.0 EZ, MAYOR
ATY
CITY CLERK
PREPARED AND APPROVED BY:
,e -V
LINDA K. KEARSON
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND
CORRECTNESS:
jo - E -I?.- FEINANDEZ
CITY ATTORY
LKK/pb/bss/M997
U1
41
This is an Amendment to the Lease and Development ,Agreement
hereinafter
("Lease") dated June 15,
1988
by and between
the City
of Miami,
a municipal corporation
of
the State of
Florida
(hereinafter "CITY"), and Indian River Investment of Miami, Inc.,
general partner for Poinciana village of Miami, Ltd. a Florida
Limited Partnership (hereinafter "Developer").
WHEREAS, the parties hereto agreed that changes to the Lease
would be mutually agreed upon and incorporated in writing to the
original lease.
NOW, THEREFORE, the parties agree to amend the Lease as
follows:
Article II, Section 2.5 (a) Rentals Payable shall be amended
to read:
"Developer and/or condominium Association
covenants and agrees to pay the City during the
Lease term, as rental ("Rental") for the
property in its possession, an Annual Basic
Rental as follows:
(i) Five thousand dollars ($5,000) for each
of the first three Rental Years
following the Rent Commencement Date;
and
(ii) Ten thousand six hundred twenty five
dollars ($10,625) per year for Rental
Years 4 through 6; and
(iii) Sixteen thousand two hundred fifty
dollars ($16,250) per year for Rental
Years 7 through 10; and
(iv) Twenty one thousand eight hundred
seventy five dollars ($21,875) per year
for Rental Years 11 through 14; and
(v) Twenty seven thousand five hundred
dollars ($27,500) per year for Rental
Years 15 through 20; and
(vi) Thirty three thousand one hundred twenty
five dollars ($33,125) per year for
Rental Years 21 through 24; and
(vii) Thirty three thousand seven hundred
fifty one dollars ($33,751) per year for
Rental Years 25 through 34; and
I
(viii) Commencement of Year 35 the property
shall be reappraised to determine the
rentals payable for Rental Years 35
through the expiration of lease term.
It is further understood that all conditions outlined under
the original Lease dated June 15, 1988, as amended, shall remain
in full force and effect without modification except to the
extent modified herein.
WITNESS our hands and seals this day of ,
1989.
THE CITY OF MIAMI, a municipal
corporation of the State of
ATTEST: Florida
MATTY HIRAI
City Clerk
ATTEST:
Corporate Secretary
APPROVED AS TO FORM AND
CORRECTNESS:
JO GEL, �FER ANDEZ
City Attorne
LKK/pb/M186
4/19/89
By
CESAR H. ODIO
City Manager
INDIAN RIVER INVESTMENTS OF MIAMI
MIAMI, INC., a general partner
for Poinciana Village of Miami,
Ltd. a Florida Limited Partnership
By
TED WEITZEL, President
y
4• _1 L
DE :.
CIT V
Io
Miami, 10th of April 1989
The Honorable Mayor
Xavier Suarez
and Members of the City Council
of Miami, Florida.
Honorable Mayor and Commissioners.
>s 1;AY -4 Pli 1: 30
The undersigners,Cesar Lands y Benito Alonso-Artigas, professional newswriters
and members of the Cuban Autentic Revolutionary Party, are respecfully reques-
ting from the Honorable Commission of the City of Miami, to take the initiative
steps to named northwest 2nd street from biscayne boulevard to the Miami river,
"Padre O'Farrill". As most of you will remember the Catholic Hispanic Center was
located on that street, where so many humanitarian assistance was ministered to
the first influx of cuban exiles, fleing the Marxist regime.
We believe that this is a just petition and respectfully request your attention
to the excellent qualities and merits of this cuban priest and patriot, being
the second catholic priest to be forced to leave Cuba on December 7,1959.
From the beginning of his exile years, fry Ramon O'Farrill y del Canal, denoun-
ced the crimes being committed in Cuba by the communists to the Uniced Nations,
the U.S. Congress, to the Organization of American States and to all human rights
organitazions through -out the world. All this was carried out regardless the
many threats and.persecutions, even in the U.S., from ordained ministers and
members of institutions which were in support of Fidel Castro's dictatorial re-
gime. This man of God, also dedicated his time to aid and assist his comrades
living in the U.S. and those wanting to escape to freedom.
Fr. Ramon O'Farrill y del Canal has proven with his work to be a true and de-
dicated evangelist and a man who believes in freedom and human rights. We feel
that a man who has given so much deserves this recognition, specially now when
his poor health condition may receive it as the wonder drug to boost his weake-
ned life.
We remain respectfully yours,
1
Cesar L
10382L,A.W. 25 St
Miami, F1 33165
Tel: 552-0530
cc: Mr. Cesar Odio.
to A_ xtat• rti.gas
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO: Honorable Mayor and Members
of the City Commission
FROM : Cesar H. Odio
City Manager
RECOMMENDATION:
DATE : MAY 3 m 1989 FILE
SUBJECT : Lease Amendment 2 With
Indian River Investments,
of Miami, Inc.
REFERENCftr the City Commission
Meeting of 06/07/89
ENCLOSURES:
It is respectfully recommended that the City Commission adopt the
attached resolution authorizing the City Manager to execute an
amendment to that certain lease and development agreement between
Indian River Investments of Miami, Inc. and the City of Miami
dated June 15, 1988, in substantially the form attached,
specifically modifying Section 2.5 of said lease and development
agreement to change the rentals payable and the manner in which
such rentals computed in order to assist the developer in
complying with the criteria for providing insured loans
established by the U.S. Department of Housing and Urban
Development.
•
BACKGROUND:
The Department of Development
recommends that the City Commission
authorize the City Manager to
execute an amendment to the Lease
and Development Agreement between
the Indian River Investments of
3 Miami, Inc. and the City.
The City and the Indian River.
Investments of Miami, Inc. entered
into a Lease and Development
Agreement on June 15, 1988 for the
development of condominiums on
Block 46 of the S.E. Overtown/Park
West Redevelopment Project.
The developer applied to the
U.S. Housing and Urban Development
(HUD) to qualify for the. insured
loan program for the prospective
condominium owners. The
U.S. HUD has requested certain
modifications in the Lease and
Development Agreement to satisfy
the guidelines established by
the agency.
Attachments:
Proposed Resolution
Amendment #2