HomeMy WebLinkAboutLegislationFite Number: 09-00181
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO EXECUTE AN AMENDMENT TO THE
LEASE AGREEMENT ("AMENDMENT"), IN SUBSTANTIALLY THE ATTACHED
FORM, BETWEEN THE CITY OF MIAMI AND RICKENBACKER MARINA, INC., A
FLORIDA CORPORATION ("RICKENBACKER"), TO PROVIDE FOR AN
EXTENSION OF THE TERM; A RENT INCREASE; FOR COMPLETION OF
CAPITAL IMPROVEMENTS TO BE MADE BY RICKENBACKER, AT ITS SOLE
COST; AND WITH ADDITIONAL TERMS AND CONDITIONS AS MORE
PARTICULARLY SET FORTH IN THE AMENDMENT.
WHEREAS, the City of Miami ("City") is the owner of real property and improvements located
at 3301 Rickenbacker Causeway, Miami, Florida (the "Property"); and
WHEREAS, Rickenbacker Marina, Inc., a Florida for profit corporation ("Rickenbacker'), leases
City -owned property from the City under a lease ("Lease") dated July 8, 1977, as assignee pursuant to
that assignment of the lease dated January 31, 1983 from Michael D. Brandon as Trustee under an
unrecorded trust for Marina Biscayne, Ltd. which was subsequently assigned to Rickenbacker Marina,
Inc. pursuant to that assignment of the lease dated June 25, 1986, for the operation of a full service
waterfront marina; and
WHEREAS, the term of the Lease, together with the options to renew, was to expire on
January 7, 2009; and
WHEREAS, Rickenbacker requested the City to extend the term of the Lease in order to
amortize the cost of certain capital improvements that Rickenbacker plans to perform on the Property;
and
WHEREAS, on December 11, 2008, pursuant to Resolution No. 08-0704, the City Commission
by a four-fifths (4/5ths) affirmative vote, in accordance with Section 29-B of the Charter of the City of
Miami, authorized the extension of the term of the Lease for a period not to exceed seven and one-half
(7'/2) years subject to certain other requirements, including the requirement that the City and
Rickenbacker negotiate the terms of an amendment to the Lease ("Amendment") on or before March
3, 2003, with said negotiated terms to be brought back for City Commission approval on or before
March 12, 2009; and
WHEREAS, Resolution No. 08-0704 further required Rickenbacker to pay all outstanding
amounts due to the City from the audit finding of Audit No. 08-006 and its related issues by no later
than December 10, 2008; and
WHEREAS, Rickenbacker made said required payments in accordance with Resolution No.
08-0104; and
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Resolution
Fite Number: 09-00181
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO EXECUTE AN AMENDMENT TO THE
LEASE AGREEMENT ("AMENDMENT"), IN SUBSTANTIALLY THE ATTACHED
FORM, BETWEEN THE CITY OF MIAMI AND RICKENBACKER MARINA, INC., A
FLORIDA CORPORATION ("RICKENBACKER"), TO PROVIDE FOR AN
EXTENSION OF THE TERM; A RENT INCREASE; FOR COMPLETION OF
CAPITAL IMPROVEMENTS TO BE MADE BY RICKENBACKER, AT ITS SOLE
COST; AND WITH ADDITIONAL TERMS AND CONDITIONS AS MORE
PARTICULARLY SET FORTH IN THE AMENDMENT.
WHEREAS, the City of Miami ("City") is the owner of real property and improvements located
at 3301 Rickenbacker Causeway, Miami, Florida (the "Property"); and
WHEREAS, Rickenbacker Marina, Inc., a Florida for profit corporation ("Rickenbacker'), leases
City -owned property from the City under a lease ("Lease") dated July 8, 1977, as assignee pursuant to
that assignment of the lease dated January 31, 1983 from Michael D. Brandon as Trustee under an
unrecorded trust for Marina Biscayne, Ltd. which was subsequently assigned to Rickenbacker Marina,
Inc. pursuant to that assignment of the lease dated June 25, 1986, for the operation of a full service
waterfront marina; and
WHEREAS, the term of the Lease, together with the options to renew, was to expire on
January 7, 2009; and
WHEREAS, Rickenbacker requested the City to extend the term of the Lease in order to
amortize the cost of certain capital improvements that Rickenbacker plans to perform on the Property;
and
WHEREAS, on December 11, 2008, pursuant to Resolution No. 08-0704, the City Commission
by a four-fifths (4/5ths) affirmative vote, in accordance with Section 29-B of the Charter of the City of
Miami, authorized the extension of the term of the Lease for a period not to exceed seven and one-half
(7'/2) years subject to certain other requirements, including the requirement that the City and
Rickenbacker negotiate the terms of an amendment to the Lease ("Amendment") on or before March
3, 2003, with said negotiated terms to be brought back for City Commission approval on or before
March 12, 2009; and
WHEREAS, Resolution No. 08-0704 further required Rickenbacker to pay all outstanding
amounts due to the City from the audit finding of Audit No. 08-006 and its related issues by no later
than December 10, 2008; and
WHEREAS, Rickenbacker made said required payments in accordance with Resolution No.
08-0104; and
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File Number 09-00189
WHEREAS, the parties have negotiated an Amendment to the Lease that is in the best interest
of the City that includes an increase in the guaranteed minimum rent and additional capital
improvements to the Property;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated as if fully set forth in this Section.
Section 2. The City Manager is authorized (1) to execute an Amendment to the Lease; in
substantially the attached form, including the following provisions:
a. An extended term of the Lease for (a) a seven and one half-year term for use of wet
storage facilities, restaurant and tiki deck, restrooms/showers, office/store and fuel dock
facility, and other ancillary facilities and services from January 8, 2009 through July 7,
2016; and (b) a four and one half-year term for use of dry storage facilities from
January 8, 2009 through July 7, 2013, with three 1 -year options to renew the Lease,
subject to approval of the City Manager, at his sole discretion, following ninety (90) days
prior written notice from Rickenbacker;
b. Rickenbacker shall pay to the City the greater of minimum annual rent of $360,000 or
annual percentage rent of 15% of gross revenues for wet storage facilities, 12% of
gross revenues for dry storage facilities, 40% of gross revenues for subleasing,
management agreements, licenses, and joint ventures and any other agreements, 5%
of gross revenues for fuel dockage facility and 25% of gross revenues for all other
related services performed on the Property;
c. Rickenbacker to make additional capital improvements of no less than $1,300,000 on
the Property.
Section 3. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor.{2}
APPROVED AS TO FORM AND CORRECTNESS:
i
JULIE B
CITY ATTORNEY
Footnotes:
{1}The herein authorization is further subject to compliance with all requirements that may be imposed
by the City Attorney, including but not limited to those prescribed by applicable City Charter and Code
provisions.
{2}If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
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