HomeMy WebLinkAboutR-09-0204Vop City of Miami
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Resolution: R-09-0204
File Number: 09-00181
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 4/23/2009
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.
City of Miand Page I of 3 File Id. 09-00181 (Version: 3) Printed On: 6/6/2017
File Number: 09-00181
08-0104; and
Enactment Number: R-09-0204
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;
d. Rickenbacker to guarantee that all monies, including but not limited to rent and other
Rickenbacker imposed fees, due to Rickenbacker from any sub -leases, will not
increase by more than 20% of the current monies due;
e. The extended term of the Lease is conditioned upon Rickenbacker contributing not
less than $2 million towards the construction of a parking facility to serve the users of
the Property and other areas in the vicinity of the Property, if the City builds, or causes
to be built such parking facility. Rickenbacker's failure to make such contribution shall
be deemed a default of the Lease, and the City Attorney shall proceed with any legal
actions authorized by the Lease.
Section 3. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor.{2}
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File Number: 09-00181
Footnotes:
Enactment Number: R-09-0204
{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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