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Home My WebLink AboutR-85-0505J-85-468 5/13/85 ?r^'. RESOLUTION N0. 85-505. A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A PROFESSIONAL SERVICES AGREEMENT WITH TOUCHE ROSS & CO., CERTIFIED PUBLIC ACCOUNTANTS, ENGAGING SAID FIRM TO EVALUATE THE FINANCIAL VIABILITY OF A PROPOSAL SUBMITTED IN RESPONSE TO THE REQUEST FOR PROPOSALS FOR THE WATSON ISLAND DEVELOPMENT UNIFIED DEVELOPMENT PROJECT; AUTHORIZING COMPENSATION FROM WATSON ISLAND DEVELOPMENT PROJECT MONIES APPROPRIATED IN THE CAPITAL IMPROVEMENT FUND, FOR SERVICES NOT TO EXCEED AN AMOUNT OF $30,000 FOR THE PERIOD COM- MENCING MARCH 28, 1985, THE DATE OF SAID FIRM'S SELECTION, AND TERMINATING JUNE 30, 1985; FURTHER PROVIDING THAT 5U% OF THE DUE AMOUNT BE PAID TO THE MINORITY FIRMS PARTICIPATING WITH TOUCHE ROSS & CO. IN THE ANALYSIS OF SAID PROPOSAL. WHEREAS, the City Commission on January 19, 1984 approved Resolution 84-52 authorizing the issuance of a request for t proposals for a unified development project for the development of cultural, recreation and entertainment facilities to be located on an approximately 68-acre land parcel on City -owned ` Watson Island; and WHEREAS, a proposal was submitted on February 28, 1985, the rf published date of receipt for proposals by Miami Marine Exposition, Inc. in response to said request for proposals; and I i WHEREAS, Section 53(c) of the City Charter requires the City Y Commission to select a certified public accounting firm to analyze the proposal based on specific evaluation criteria defined in the request for proposals and to render a written k report to its findings to the City Manager; and _$ WHEREAS, the City Commission on March 28 , 1985 approved 1' ) Resolution 83-345 selecting the accounting firm of Touche Ross & Co. with minority firm participation of Sanson, Kline, Jacomino & Co. and W. B. Koon to analyze the proposal submitted by Miami x Marine Exposition, Inc.; and -i"J WHEREAS, it is now necessary to enter into a professional r l services agreement with Touche Ross & Co. in an amount not to exceed $30,000 to evaluate the financial viability of said proposal; and Cl:'Y CGM%133-14N MEVTIN^ OF 85-565-. MAY 0 !9g5 ry WHEREAS, the scope of services includes an evaluation of the financial viability of the development team proposed by Miami Marine Exposition, lnc.i the proposed financing strategies, and an evaluation of the proposed short and long-range economic and =` fiscal return to the City; and WHEREAS, an amount of $30r000 for services defined in the agreement between the City and Touche Ross & Co. is available from the Watson Island Development project established in the Capital Improvement Fund; NOW, THEREFOREr BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The City Commission hereby authorizes the City Manager to enter into a Professional Services Agreement with Touche Ross & Co. to prepare an evaluation of the financial viability of a proposal by Miami Marine Expositionr Inc. sub- mitted in response to a request for proposals for the Watson i ` Island Development unified development project whereby the firm kk f' will research the financial viability of the proposed development 4;- team and financing strategies, evaluate the short and long-range economic and fiscal return to the City, and render a written report of its findings to the City Manager for his consideration. Section 2. Compensation for the above services is hereby allocated and authorized to be paid from Watson Island Development Project monies appropriated in the Capital Improvement Projects Ordinance with the amount thereof not to exceed $30,000 for the period commencing March 28, 1985, the date of said firms selection, and terminating June 30r 1985; provided that 50% of the amount to be paid be paid to the minority firms participating with Touche Ross & Co. in the analysis of said proposal. PASSED AND ADOPTED this _9th_ day of Mav _i, 1985. Maurice A._Ferre : MAURICE A. FERRET MAYOR P8 N IE y Clerk 2 85-505... z> . PREPARED AND APPROVED BY: G� MIRIAM MAER Assistant City Attorney APPROV D FORM AND CORs RECTNESS - -DUG ERTY _ LU A A . City Attorney GMM/WPC/ab/466 85''505 .. 3 OON CITY CI• MIAMI. FtLORIOA INFER -OPTICS MEMORANDUM TO: Sergio Pereira DATE: Aril 26 1985 ass: WI.460.01 City Manager WI.600.09 sUDJtCT: Watson Island Development/ s- Professional Services Agreement with Touche Ross & Co. FROM John E. Gilchrist REfERENCEl: Asst. to the City anager For City Commission Meeting Special Projects Task Force ENCLOSURE:: of May 9, 1985 It. is recommended that the City Commission adoadov the attached resolution app Ving and authorizer the City ana er to enter into a rofes%I services agreement with ouc a Ross & co. certified public accountants, o evaluate the financial - viability or a proposal submitted n response to the request for proposals for Watson Island -- Develo ment for services not to exceed (S�b00 for the period March ;;ugh 289 198 t June 30 199 authorizing compensation from the Watson Island Development capital project fund. { .: On January 19, 1984, by Resolution 84-52, the City Commission authorized � the issuance of a request for proposals (RFP) for a unified development project for the development of cultural, recreation and entertainment facilities to be located on Watson Island. a_. As required by Section 53(c) of the City Charter, the City Commission selected a certified public accounting firm, Touche Ross & Co., to analyze a proposal submitted in response to the request for proposals for Watson Island Development and render a report of its findings to the qr% f City Manager. The City Commission selected Touche Ross & Co. with minority firm participation of Sanson, Kline, Jacomino & Co. and W.B. Koon on March 28, 1985, by Resolution 85-345. �:. It is recommended that the attached resolution be adopted approving and authorizer the City Manager to enter into a 8 y professional services agreement with Touche Ross & Co. in an amount not to exceed $30, 000 for ;1 the period March 28, 1985 through June 30, 1985. The scope of services, a per the attached agreement, includes an evaluation of the financial - viability of the development proposed by Miami Marine Exposition, Inc., the proposed financing strategies, and an evaluation of the proposed x short and long-range economic and fiscal return to the City. Ewa Y 85,505.. Sergio Pereira City Manager Page Two Please note that this evaluation will not feasibility because it does not include ai market analysis or an evaluation of the proposed development. Further evaluation would require an extended and/or separate necessary by the City Manager. address the proposed project's i assessment of the proposer's economic feasibility of the addressing project feasibility agreement, should it be deemed The amount of $30,000 for services defined in the attached agreement available from the Watson Island Development project established in Capital Improvement fund. The Watson Island RFP issued January 19, 1984, required a $50,000 bid security to accompany each proposal submission to be used for payment of services rendered by the accounting firm selected by the Commission. Accordingly, Miami Marine Exposition, Inc. submitted a check for $50,000 with its proposal on March 28, 1985. The check is non-refundable to a proposer selected for the development of Watson Island. Pending selection of the Miami Marine Exposition, Inc. proposal, the $50,000 bid security will be deposited into the Watson Island capital project fund to reimburse expenses incurred during the selection process, specifically the cost of the recommended professional services contract between the City and Touche Ross & Co. with minority firm participation. It is requested t Commission meeting 85=505.