HomeMy WebLinkAboutSummary FormOF AGENDA ITEM SUMMARY FORM
FILE ID: _tnQ _ 001 314
Date: 2/5/2009 Requesting Department: City Manager's Office
Commission Meeting Date: 2/13/2009 District Impacted: Citywide Law Department
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item Matter ID No.
Subject: Convention Development Tax Funding in Connection with Development of the Parking
Facilities at the Former Orange Bowl Site
Purpose of Item:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE
CITY MANAGER TO: (I) EXECUTE AN INTERLOCAL AGREEMENT WITH MIAMI-DADE COUNTY
("COUNTY"), IN SUBSTANTIALLY THE ATTACHED FORM, TO INCREASE THE AMOUNT OF
CONVENTION DEVELOPMENT TAX ("CDT") FUNDS PAYABLE BY THE COUNTY TO THE CITY OF
MIAMI ("CITY") IN CONNECTION WITH THE DEVELOPMENT OF THE PARKING FACILITIES ON
THE FORMER ORANGE BOWL SITE (THE "NEW CDT AGREEMENT") AND (II) TERMINATE THE
INTERLOCAL COOPERATION AGREEMENT DATED DECEMBER 14, 2004, BY AND AMONG THE
COUNTY, THE CITY, AND THE MIAMI SPORTS AND EXHIBITION AUTHORITY ("MSEA"),
APPROVED BY THE CITY COMMISSION PURSUANT TO RESOLUTION NO. 04-0750, ADOPTED
NOVEMBER 18, 2004, ("MSEA CDT INTERLOCAL"), PROVIDED THAT THE TERMINATION OF THE
MSEA CDT INTERLOCAL SHALL BE SUBJECT TO THE CITY AND THE COUNTY ENTERING INTO
THE NEW CDT AGREEMENT AND THE EFFECTIVE DATE OF TERMINATION SHALL BE NO
EARLIER THAN JUNE 30, 2009.
Background Information:
SEE ATTACHED.
Budget Impact Analysis
YES Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
If using or receiving capital funds
Grants
Purchasi
Chief
', • 1 111 __11.1
Final Approvals
(SIGN AND DATE)
Budget
Risk Management
Dept. Director
City Manager
Page I of I
Background Information (continued):
Pursuant to an Interlocal Agreement among the City of Miami, Miami -Dade County and the Miami
Sports and Exhibition Authority dated December 14, 2004, the County agreed to pay the City $2M
annually from the Convention Development Tax (CDT) revenues collected by the County.
On February 20, 2008, the City Commission approved a Baseball Stadium Agreement among the City
of Miami, Miami -Dade County and the Florida Marlins. As part of the overall stadium project, the
City agreed to construct four (4) parking structures and six (6) surface lots. The County and the City
have agreed to enter into an Interlocal Agreement to increase the amount of the CDT funds payable by
the County to the City to an amount sufficient to satisfy the City's Obligation to construct the Parking
Facilities related to the Baseball Stadium project on the former Orange Bowl Site.