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HomeMy WebLinkAboutR-85-0623RESOLUTION 10. ra2 A RESOLUTION AUTHORIZING THE CITY 14ANAOER TO AMEND, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, THE FY '84-'85 CONTRACT DATED OCTOBER 110 1984 BETWEEN THE CITY OF MIAMI AND MIAMI CAPITAL DEVELOPMENT, INC. IN ORDER TO EXTEND THE PERIOD OF THE CONTRACT TO END ON OCTOBER 31, 1985 AND TO DELETE THE AUTOMATIC t RENEWAL OPTION. WHEREAS, on March 8, 19840 the City Commission passed Resolution No. 84-291, approving a contract for the period of July 1, 1983 to June 10, 1984 with MCDI for $120,000 in administrative funds and $1,300,000 for the establishment of a Revolving Loan Fund (RLF); and WHEREAS, on July 31, 1984, the City Commission passed Resolution No. 84-867 approving a contract for the period of July 1, 1984 to June 30, 1985 which provided for $500,000 in additional funds to increase the $1,300,000 RLF to $1,800,000 and which also provided $120,000 in administrative funds; and WHEREAS, on October 11, 1984 a contract was executed for the period of July 1, 1984 to June 30, 1985 between the City and MCDI incorporating the $1,800,000 RLF and $120,000 in administrative funds; and WHEREAS, the contract notes the contract period as "..,ending June 30► 1985"; and WHEREAS, Article 4.2(2) notes a "...1984/85 budget from July �{ 1, 1984 to June 30, 1985...n and 14 WHEREAS, Article 7.2 of the MCD1 contract provides that "... CITE COMMISSION MEETING OF JUN 13 J985 IRESOLUMN riu. 8S-623 AY k �A A the Agreement shall be automatically renewable for abnatoUtiVt periodS up to a maximum of 2 years) Unless the City gives notice to the Contractor that it will riot seek renewal 30 days prior to the expiration date of the then existing term",, and WHEREAS, Article 7.3 mates that servioes required hereunder shall be completed by Juno 30o 1985' NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMIt FLORIDA: Section 1. The City Manager is hereby authorized to amend, in a form acceptable to the City Attorney., the contract dated October 110 1984 between the City and Miami Capital Development, Inc. in order to extend the period of the contract to end on October 31, 1985 and to delete the automatic renewal option. PASSED AND ADOPTED this 13th _ day of June —P 1985. Maurice A. Ferre RAUURICE A. FERRE, MAYOR ATTEST: a WALPH G%ONGCIfEg,CI�TY—C�L-Q-RK--- PREPARED AND APPROVED BY: KOGRERT F. CLARK CHIEF DEPUTY CITY ATTORNEY APPROVE 0 FORM AND CORRECTNESS; /L 4A.-FOUGHERM-71TY -ATTORN-EY 85►23 V M U W%' , U91019I Nt0 4 Aft Am*ndment entered into this ____.... day of to the FY '84-85 Contract dated October 11, 1984 between the City of Miami, hereinafter referred to as "CITY" and Miami Capital Development, Inc. (MCDI), hereinafter referred to as the "CONTRACTOR." WHEREAS, on March 8, 1984, the City Commission passed Resolution No. 84-291, approving a contract for the period of July 1, 1983 to June 10, 1984 with MCDI for $120,000 in administrative funds and $1,300,000 for the establishment of a Revolving Loan Fund (RLF); and WHEREAS, on July 31, 1984, the City Commission passed Resolution No. 84-867 approving a contract for the period of July 1, 1984 to June 30, 1985 which provided for $500,000 in additional funds to increase the $1,300,000 RLF to $1,800,000 and which also provided $120,000 in administrative funds; and WHEREAS, on October 11, 1984 a contract was executed for the period of July 1, 1984 to June 30, 1985 between the City and MCDI incorporating the $1,800,000 RLF and $120,000 in administrative funds; and WHEREAS, Article 7.2 of the MCDI contract provides that "... the Agreement shall be automatically renewable for consecutive periods up to a maximum of 2 years, unless the City gives notice to the Contractor that it will not seek renewal 30 days prior to the expiration date of the then existing term"; and WHEREAS, the contract notes the contract period as "...ending June 30, 1985"; and WHEREAS, Article 4.2(2) noteg a ",,,1984/$5 budget from July 1, 1984 to June 30, 19$5..."; and SS -623 a.4 V A/ ti`t"s 74.1 'l'11 ttg that '"--*all 8*'[ ♦ iG#Fj f0'Qi AAi rGd hereunder stall be 402010ted by June 3b r 1985, filE�(fiE, in mutual consideration of the covenants made herein, and in the agreement of which this is an Amendment, the parties hereto understand and agree as follows: 1p 1. The contract shall be amended to read as "...ending October 31, 1985." 2. Article 4.2(2) shall be amended to read"...1984/85 budget from July 1, 1984 to October 31, 1985..." 3. Article T.3 is amended to read that "...all services required here under shall be completed by October 31, 1985." It is further understood and agreed that all the terms and conditions outlined under the original agreement dated October 11, 1984 between the City and MCDI shall remain in full force and effect without modification, except as modified herein. CITY OF MIAMI, a municipal Corporation of the State of Florida ATTEST: BY L r R RA, CITY MANAGER CONTRACTOR: Miami Capital Development, Inc. BY Corporate Secretary Pregident (CORPORATE SEAL) APPROVED AS TO FORM AND CORRECTNESS: LUCIA A. DOUGH , CITY A 85-623 CITY OP MIAMI. I=LORIDA INTER -OFFICE MEMORANDUM 50 i ! fb. Honorable Mayor and DATE: jUN 51985 RILE: j Members of the City Commission SUBJECT: AMENDMENT TO THE FY ' 84-85 CONTRACT BETWEEN THE CITY OF MIAMI AND MIAMI CAPITAL PRO"'` Sergio P e r e i r REFERENCES: DEVELOPMENT, INC. City Manager ENCLOSURE5: June Commission Meeting is "It is recommended that the City Commission approve the attached resolution authorizing the City Manager to amend the FY `84-85 contract dated October 11, 1984 between the City of Miami and Miami Capital Development, Inc. in order to extend the period of the contract by 120 days." At the April 18, 1985 City Commission meeting, I stated that the FY '85-86 contract and funding for Miami Capital Development, Inc. (MCDI) would be deferred until an independent audit and performance review could be conducted and reviewed by City staff. On April 25, 1985, I instructed the Department of Community Development to initiate an independent financial and performance audit. It is anticipated that this review will be conducted in late summer. It should be noted that the FY '34-85 MCDI contract has a termination date of June 30, 1985. Accordingly, this resolution extends the termination date of the contract to October 31. 1985 to allow for both audits to be completed and reviewed such that any appropriate modifications may be made to MCDI's contract.