HomeMy WebLinkAboutR-85-0111� 'r
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J-85-189
2/7/85
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RESOLUTION NO.
A RESOLUTION APPROVING THE ISSUANCE OF
INDUSTRIAL DEVELOPMENT REVENUE BONDS IN AN
AMOUNT NOT TO EXCEED $20,000,000 FOR THE
CONSTRUCTION OF A NOT LESS THAN 1200 SPACE
PARKING GARAGE AND A SURFACE PARKING LOT, TO
BE OWNED BY BAYSIDE CENTER LIMITED PARTNER-
SHIP, OF WHICH ROUSE-MIAMI, INC. IS THE
GENERAL PARTNER, OR ANY OTHER ENTITY IN WHICH
ROUSE-MIAMI, INC. HAS OR MAY HAVE A CON-
TROLLING INTEREST, AND TO BE MANAGED BY THE
CITY OF MIAMI DEPARTMENT OF OFF-STREET
PARKING, AS PART OF THE BAYSIDE SPECIALTY
CENTER TO BE LOCATED ON CITY -OWNED PROPERTY
ADJACENT TO MIAMARINA AND GENERALLY BOUNDED
-
BY BISCAYNE BOULEVARD ON THE WEST, PORT
BOULEVARD ON THE NORTH, INCLUDING PROPERTY
LOCATED UNDERNEATH PORT BOULEVARD, BISCAYNE
BAY ON THE EAST AND BAYFRONT PARK ON THE
SOUTH.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA: !r
Section 1. The issuance of industrial development -
Or
revenue bonds by the City of Miami, Florida, in an amount not to
exceed $20,000,000 for the construction of a not less than 1200
space parking garage and a surface parking lot, to be owned by
Bayside Center Limited Partnership, of which Rouse -Miami, Inc. is
the General Partner, or any other entity in which Rouse -Miami,
Inc. has or may have a controlling interest, and to be managed by
the City of Miami Department of Off -Street Parking, as part of
the Bayside Specialty Center to be located on City -owned property
adjacent to Miamarina and generally bounded by Biscayne Boulevard
on the west, Port Boulevard on the north, including property
.
located underneath Port Boulevard, Biscayne Bay on the east and
7
Bayfront Park on the south, is hereby approved and this approval
shall be deemed to be the public approval required by Section
p�Pu
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103(k) of the Internal Revenue Code of 1954, as amended.
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Section 2. This resolution shall be in full force and
effect immediately upon its adoption.
CITY COI+�ItIX piSa N
MEETING C)p
FEB 14 19 5
_85- 11
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PkA89b AND Abbtftb this ,.1�,th_ clay of
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MAURICE A. FERRE
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PREPARED AND APPROVED BY!
G: MIRIAM MAER
Assistant Ci Attorney
APAROV FF RM AND CORRECTNESS:
J. UV - - LV -..
City Attorney
GMM/wpc/pb/410
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TO:
FROM:
0
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
Honorable Mayor
and Members of the City Commission
Randolph B. Rosencrantz
City Manager
i
I
DATE: February 7, 1985 FILE:
SUBJECT: T.E.F. R.A. Hearing
February 14, 1985
REFERENCES: Industrial Development Bonds
for the Baysi.de Specialty
ENCLOSURES: Center Parking Garage
It is recommended that the City Commission
approve the issuance of industrial
deve opment revenue bonds in an amount not
to excee 00 to be used for the
construction of a parkingggga��ra �a of not
less than 1200 spaces and a si ace lot as
part of the Bayside Specialty Center to be
located on City -owned property adjacent to
Miamarina; generally bounded by Biscayne
Boulevard on the West, Port Boulevard on
the North, including property located
underneath Port Boulevard, Biscayne Bay on
East and Bayfront Park on the South.
The tax Equity Fiscal Responsibility Act of 1982 (T.E.F.R.A.) provides
that Industrial Development Bond issues must be approved by the City
prior to issuance following a public hearing. The attached resolution
implements the Bond Inducement Resolution adopted by the City
Commission October 10, 1984 and meets the requirements of law.
It is recommended that the Commission approve this issuance of
Industrial Development Bonds in an amount not to exceed $20,000,000.
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