The URL can be used to link to this page

Home My WebLink AboutR-82-0628RESOLUTION NO. A RESOLUTION AUTHORIZING THE LOAN OF $173,250 FROM FLORIDA POWER AND LIGHT FRANCHISE FUNDS IN THE CAPITAL IMPROVEMENT FUND TO THE ORANGE BOWL ENTERPRISE FUND, SAID LOAN TO BE REPAID FROM MONIES RECEIVED FROM THE DADE COUNTY TOUR- IST DEVELOPMENT COUNCIL, FOR THE PURPOSE OF APPRAISING STADIUM LAND AND CONTIGUOUS PARCELS; UPDATING THE KUNDE AND ASSOCIATES, INC. AND MADIGAN-PRAEGER, INC. "CITY OF MIAMI ORANGE BOWL MODERNIZATION" REPORT; AND THE RENOVA- TION AND IMPROVEMENT OF THE FIELD LIGHTING SYSTEM IN THE ORANGE BOWL STADIUM; FURTHER SETTING FORTH LOAN REPAYMENT CONDITIONS. WHEREAS, Resolution No. 82-346 authorized the City Manager to have an appraisal made of the Orange Bowl, Miami Stadium, Metro Annex, Auto Storage Lanes and Beckham Hall; and WHEREAS, it has been determined that the appraisal fee for all of the said properties to be appraised would not exceed $14,750; and WHEREAS, the Dade County Tourist Development Council reques- ted that an update be made of the Kunde and Associates, Inc. and Madigan -Praeger, Inc. "City of Miami Orange Bowl Moderniz- ation" Report; and WHEREAS, Kunde and Associates, Inc. and Madigan -Praeger, Inc. have agreed to update the "City of Miami Orange Bowl Modern- ization" Report for a fee not to exceed $4,500; and WHEREAS, renovation and improvements to the field lighting system at the Orange Bowl Stadium was recommended by the City's Department of Public Works; and WHEREAS, The Department of Public Works has determined that the existing 36 pole light fixtures cannot be replaced by light- ing fixture manufacturers and that new lighting fixtures may be installed on existing light towers for $154,000; and WHEREAS, $1.73,250 may be loaned from the Florida Power and Light Franchise revenues in the Capital Improvement Fund, to the Orange Bowl Enterprise Fund; and WHEREAS, the Dade County Tourist Development Council shall repay said sum to the Orange Bowl Enterprise Fund; and CITY COMMISSION MEETING OF JUL2 2 1982 �0E� I WHEREAS, the Orange Bowl Enterprise Fund shall upon receipt of said money repay to the Capital Improvement Fund the amount of $173,250; and WHEREAS, the Orange Bowl Enterprise Fund shall repay inter- est at a rate of * % to the Capital Improvement Fund; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The sum of $173,250 is hereby authorized to be loaned from the Florida Power and Light Franchise Revenues in the Capital Improvement Fund for the purpose of appraising stadium land and contiguous parcels; updating the Kunde and Associates, Inc. and Madigan -Praeger, Inc. "City of Miami Orange Bowl Modernization" Report; and the renovation and improvement of the field lighting system in the Orange Bowl Stadium. Section 2. The Dade County Tourist Development Council shall repay said $173,250 over a period of 9 months with funds derived from the 2% Resort Tax. Section 3. The Orange Bowl Enterprise Fund will repay the aforesaid advance upon receipt of said monies to the Capital Improvement Fund. Section 4. The Orange Bowl Enterprise Fund shall repay interest at a rate of * % to the Capital Improvement Fund. PASSED AND ADOPTED this 22nd day of JULY , 1982. MAURICE A. FERRE M A Y 0 R ATT M Y HIRAI ACTING CITY CLERK PREPARED AND APPROVED BY: ROBERT F. CLARK DEPUTY CITY ATTORNEY ASjTQFORM AND CQRRECTNESS: GEORGE . KNOX, JR., CIT ATTORNEY C� ti is �tr LY * CURRENT YIELD ON CITY'S INVESTMENTS it 23 Howard V. Gary City Manager INTER -OFFICE MENIORANDUM Cesar Odic 1�� Assistant City Manager June 22, 1982 FltE Resolution authorizing loan from Florida Power & Light Franchise Revenues to Orange Bowl Enter- prise Fund & Companion Ordinances -,-,,,-.,,-,.amending the Capital Improvement Appropriation Ordinance and the Annual Appropriations Ordinance. Copies of Draft Legislation The Office of Stadiums recommends the adoption of a resolution authorizing the loan of $173,250 from Florida Power and Light Franchise Revenues, in the Capital Improvement Fund, to the Orange Bowl Enterprise Fund, for the purpose of having appraisals made of stadium properties and contiguous parcels costing $14,750; for updating the Kunde and Associates, Inc. and Madigan -Praeger, Inc. report entitled "City of Miami Orange Bowl Modernization" costing $4,500; and the Renovation and Improvement to the field lighting system at the Orange Bowl Stadium costing $154,000; said loan to be repaid from the 2% Resort Tax over a period of 9 months; with interest at a to be repaid from the Orange Bowl Enterprise Fund. The Tourist Development Council has committed $173,250 from future collections of the Orange Bowl portion of the Resort Tax Funds for new Orange Bowl field lighting costing $154,000; appraisals of vari- ous stadium properties costing $14,750; and to update the Kunde and Associates, Inc. and Madigan -Praeger, Inc. report for up to $4,500. The loan from Florida Power and Light Franchise Revenues will be' repaid by the Dade County Tourist Development Council as Resort Tax Revenues are collected. The Department of Public Works notified the Office of Stadiums that the 36 pole light fixtures on the upper deck of the Orange Bowl are deteriorated and thait the City was without spare fixtures. In ad- dition, none of the lighting manufactures makes a comparable fixture. Today, they recommended that the existing lights be replaced with "Quick -Start" metal halide lights on the main light towers. The benefits of this new lighting program are the elimination of the problem of trying to replace antiquated light fixtures; the inaccurate, trial -and -error aiming of the pole licjhts would be eliminated; stadium hurricane preparation time would be reduced; Sj A. VA.. v� Howard V. Gary Page 2 the new installation of the fence on the upper deck would be simpli- fied and cost saving; and the higher electricity efficiency could save $15,000 annually in power costs. The cost of the lighting project is estimated to be $154,000. An enclosed companion ordinance amending the Capital Improvement Appropriation Ordinance establishes new projects in the Orange Bowl Enterprise Fund by increasing the appropriation of the Orange Bowl 2% Resort Tax in an amount of $154,000. -' Since the remaining $19,250 of the loan will be used for appraisals and for updating the Orange Bowl modernization report which cannot Be included in the Capital Improvement Program, a proposed companion ordinance has been prepared to amend the Annual Appropriations Ordinance for Fiscal Year 1981-82 for the Orange Bowl Enterprise Fund. Resolution 82-346 was passed authorizing the City Manager to engage the professional services of an M.A.I. appraiser to determine fair market value of the Orange Bowl Stadium and parking areas, Miami Stadium, Metro Annex, Beckman Hall and the auto inspection station at a cost not to exceed $14,750. The Tourist Development Council requested the updating of the Kunde and Associates, Inc. and Madigan -Praeger, Inc. report entitled "City of Miami Orange Bowl Modernization". Kunde and Associates, Inc. have agreed to update their report for a fee not to exceed $4,500. The Tourist Development Council has committed $173,250 from future collections of the Orange Bowl portion of the Resort Tax Funds so that the three aforementioned programs can be carried out. cc: Law Department Finance Department Planning Department Department of Management and Budget Department of Public Vlorks Ar lU Ao �,J