HomeMy WebLinkAboutCC 2023-06-12 Marked AgendaCity Commission
Marked Agenda June 12, 2023
City of Miami
Marked Agenda
City Commission
Francis X. Suarez, Mayor
Christine King, Chair, District Five
Joe Carollo, Vice Chair, District Three
Alex Diaz de la Portilla, Commissioner, District One
Sabina Covo, Commissioner, District Two
Manolo Reyes, Commissioner, District Four
Arthur Noriega, V, City Manager
Victoria Mendez, City Attorney
Todd B. Hannon, City Clerk
City Hall
3500 Pan American Drive
Miami, FL 33133
https://miamifLiqm2.com
Monday, June 12, 2023
2:00 PM City Hall
2:00 PM INVOCATION AND PLEDGE OF ALLEGIANCE
Present: Chairwoman King, Commissioner Covo and Commissioner Reyes
Absent: Vice Chair Carollo and Commissioner Diaz de la Portilla
On the 12th day of June 2023, the City Commission of the City of Miami, Florida, met at its
regular meeting place in City Hall, 3500 Pan American Drive, Miami, Florida, in special
session. The Commission Meeting was called to order by Chairwoman King at 2:25 p.m.,
recessed at 3:05 p.m., reconvened at 3:42 p.m., and adjourned at 3:42 p.m.
ALSO PRESENT:
Lariy Spring, Chief Financial Officer/Assistant City Manager
Victoria Mendez, City Attorney
Todd B. Hannon, City Clerk
ORDER OF THE DAY
PUBLIC COMMENTS FOR "SP" ITEM(S)
City of Miami
Page I Printed on 06/16/2023
City Commission
Marked Agenda June 12, 2023
SP.1 DISCUSSION ITEM
14111
Commissioners
and Mayor
A DISCUSSION ITEM FOR THE PURPOSE OF CONSIDERING AND
TAKING ANY AND ALL ACTIONS RELATED TO THE AMENDED AND
RESTATED GROUND LEASE AGREEMENT BETWEEN THE CITY OF
MIAMI ("CITY") AND HRM OWNER LLC FOR CITY -OWNED
RIVERFRONT REAL PROPERTY LOCATED AT 298 SOUTHEAST 2ND
AVENUE, 300 SOUTHEAST 2ND AVENUE, 330 SOUTHEAST 2ND
AVENUE, AND 400 SOUTHEAST 2ND AVENUE, MIAMI FLORIDA,
33131 WITH TAX FOLIO IDENTIFICATION NUMBERS 01-3137-022-
0010, 01-3137-022-0030, 01-3137-022-0031, AND 01-3137-022-0020.
rRESULT: DISCUSSED
SP.2 RESOLUTION
13923
Department of
Real Estate and
Asset
Management
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH
ATTACHMENT(S), BY A FOUR -FIFTHS (4/STHS) AFFIRMATIVE
VOTE, PURSUANT TO SECTION 29-B OF THE CHARTER OF THE
CITY OF MIAMI, FLORIDA, AS AMENDED, WAIVING COMPETITIVE
BIDDING AND AUTHORIZING THE CITY MANAGER TO NEGOTIATE
AND EXECUTE AN AMENDED AND RESTATED GROUND LEASE
WITH HRM OWNER LLC, THE EXISTING TENANT ("TENANT"), TO
PROVIDE FOR A NEW TERM NOT TO EXCEED NINETY-NINE (99)
YEARS, TO INCLUDE THE EXISTING HYATT HOTEL AND ALSO THE
JAMES L. KNIGHT CONVENTION CENTER PROPERTY LOCATED AT
298, 300, 330, & 400 SOUTHEAST 2ND AVENUE (COLLECTIVELY,
"PROPERTY"), PROVIDING FOR THE REDEVELOPMENT OF THE
PROPERTY TO INCLUDE AT LEAST A 615 KEY HOTEL, 188,000
SQUARE FEET OF CONVENTION/MEETING SPACE, 682
APARTMENTS, PARKING, ADDITIONAL PUBLIC OPEN SPACE, AND
AN EXPANDED PUBLIC RIVERWALK, ALL AT NO COST TO THE
CITY, FOR NO LESS THAN FAIR MARKET VALUE RENT WITH
ADDITIONAL TERMS AND CONDITIONS FURTHER DEFINED IN THE
GROUND LEASE, ATTACHED AND INCORPORATED AS "EXHIBIT A";
PROVIDING FOR AN ANNUAL RENT SCHEDULE, IN AN AMOUNT OF
ONE MILLION DOLLARS ($1,000,000) FOR THE 1ST YEAR, ONE
MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS ($1,250,000)
FOR THE 2ND YEAR, ONE MILLION FIVE HUNDRED THOUSAND
DOLLARS ($1,500,000) FOR THE 3RD YEAR, ONE MILLION SEVEN
HUNDRED FIFTY THOUSAND DOLLARS ($1,750,000) FOR THE 4TH
YEAR, TWO MILLION DOLLARS ($2,000,000), FOR THE 5TH YEAR,
ALL CONSTRUCTION RENT (CONSTRUCTION RENT") FOR THE
PERIOD BEGINNING ON THE COMMENCEMENT DATE AND ENDING
ON THE MINIMUM RENT COMMENCEMENT DATE
("CONSTRUCTION RENT PERIOD"), AFTER THE CONSTRUCTION
RENT PERIOD, PAYMENT TO THE CITY AN AMOUNT EQUAL TO
THE GREATER OF MINIMUM ANNUAL BASE RENT OF TWO MILLION
FIVE HUNDRED THOUSAND DOLLARS ($2,500,000.00) OR
PARTICIPATION RENT EQUAL TO 2.5% OF GROSS REVENUES
("MINIMUM RENT") AS OF THE MINIMUM RENT COMMENCEMENT
DATE, SUBJECT TO ANNUAL INCREASES AND ADJUSTMENTS
THEREAFTER AS OUTLINED IN THE TERM SHEET; FURTHER
PROVIDING THAT TENANT SHALL MAKE A TWENTY FIVE MILLION
DOLLAR ($25,000,000.00) PAYMENT TO THE CITY FOR
AFFORDABLE HOUSING; ALL AGREEMENTS WITH RESTRICTIONS,
City of Miami Page 2 Printed or/ 06/16/2023
City Commission
Marked Agenda June 12, 2023
ADJOURNMENT
REVERSIONS, AND RETENTION BY THE CITY OF ALL OTHER
EXISTING CITY RIGHTS;, AND WITH SUCH OTHER TERMS MORE
PARTICULARLY SET FORTH IN THE GROUND LEASE, ALL IN
FORMS ACCEPTABLE TO THE CITY ATTORNEY.
RESULT: DISCUSSED
The meeting adjourned at 3:42 p.m.
City of Miami Page 3 Printed or/ 06/16/2023