HomeMy WebLinkAboutR-88-0259J-88-279
3/24168
KESCILUTIUN No. 14S-2 S
A RESOLUTION AUTHuR l i l NG THE: 141 AM I SPURTS
AND 6XH181TluN AUTHUKITY TO MAKE: A
$2,900,000 YAYMtNT TO MIAM1 CENTER
ASSOC IATSS, LTD. euK PKujLc:'r COSTS AND
IMPRUVEMENTS OF TtiE NEW EXHIBIT HALL AT THE:
MIAM1 C ONVENTIUN C LNTLR; SUBJECT Tu THL;
CITY MANAGER'S AND SAID AUTHORITY'S
SATISFACTIUN THAT THE KEQUIRLMENTS bt:T
FURTH 1N THE EXECUTED 1-V46NOMENT Nu. 2
bETWEbN THE: CITY Ur' MIAM1 AND MIAM1 CENTER
ASSOCIATES, LTD. HAVE: bEti SUBSTANTIALLY
MST, THE RETAINAGL OF 41UU,000 TO
ENSURE THE: C:UMPLETIUN OF THE PROJECT
PUNCHLIST, AND A 6ATISFACTURY AUDIT.
WHEREAS, the Miami Sports and Exhibition Authority
("Authority"), pursuant to Resolution No. 87-lbU adopted
February 12, 1987, has made available $3,000,000 as payment
to Miami Center Associates, Ltd. for services, duties,
responsibilities upon completion of the new Exhibit Hall at
the Miami Convention Center as per executed Amendment No. 2.;
NOW, THERE:FORL, BE 1T RESULVED by THE C:OMMISSIUN OF THE
CITY OF MIAMI, FLORIDA:
Section I. Subject to its own satisfaction with Miami
Center Associates' successful completion of the work, The
Miami Sports and Exhibition Authority is authorized to make
payment to Miami Center Associates, Ltd. in the amount of
$2,9UU,000 for project costs dnu improvements to the Miami
Convention Center, subject to the City Manager's and said
Authority's satisfaction that the requirements as set forth
in the executed Amendment No. 2 between the City of Miami and
Miami Center Associates, Ltd. have been substantially met,
the retainage of$IUU,000 to ensure the completion of the
Project Punchlidt, and a satisfactory audit.
CITY COMMISSION
MEETING OF
MAR w4jp�1988
RESOLUTION No. 815-2KC9
`i
I"`
PAASKU AND ADOPTAW this 24t_h, day of March .
198es.
ATTdaiV
MA 4LRAI
CITY CLERK
PREPARED AND APPROVED BY:
RO tR 4 RK
. 'r telfva"<
CHIEF DEPUTY CITY ATTuRNEY
APPROi/SLY AS TO FORM AND CORRECTNESS:
CITY ATTORNEY
—2- 88--25S