HomeMy WebLinkAboutSummary Form 5-14-09AGENDA ITEM SUMMARY FORM Law Department
R E .13 Matter ID No.
FILE ID•
Date: 5/7/2009 Requesting Department: City Manager's Office
Commission Meeting Date: 5/14/2009 District Impacted: 2
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Museum Park Project — Development Agreement with the Miami Art Museum of Dade
County Association, Inc. "MAM") and Museum of Science, Inc. ("MSM')
Purpose of Item:
A Resolution of the Miami City Commission, with attachment(s), approving the terms o% and
authorizing the City Manager to execute a Development Agreement ("Agreement") between the City
of Miami ("City"), the Miami Art Museum of Dade County Association, Inc. ("MAM") and the
Museum of Science, Inc. ("MSM"), in substantially the form attached hereto as "Exhibit A," to
provide for the design, development and construction of the Museum Park Project on Bicentennial
Park ("Museum Park").
Budget Impact Analysis
NO Is this item related to revenue?
YES 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: 2 million
CIP
If using or receiving capital funds
Grants
Final Approvals
(SIGN AND DATE)
Budget +xrV► t Q ut -- S 1-11 CF1
Purchasing
Chief ✓ ,e- G � �f
Risk
Dept
City
Pagel of 2
Subject: Museum Park Project — Development Agreement with the Miami Art Museum of Dade
County Association, Inc. ("MAM") and Museum of Science, Inc. ("MSM")
information:
On December 11, 2008, the City Commission adopted Resolution No. 08- 0707, approving the terms of,
and authorizing the City Manager to execute two (2) Lease Agreements respectively between the City
and the Miami Art Museum of Dade County Association, Inc. (MAM) (the "MAM Lease") and between
the City and the Museum of Science, Inc. (MSM) (the "MSM Lease). These Leases require the City to
negotiate a tri -partite Development Agreement ("Development Agreement") and a tri -partite
Environmental Remediation Agreement ("Remediation Agreement") with the Museums for the
consideration and approval of the City Commission. The execution of the Development Agreement is a
condition precedent to the museums obtaining possession to their respective lease areas, without which
the museums would be unable to commence construction/development of their museums.
Over the months subsequent to the approval of these respective leases, the City Administration and staff
negotiated terms for the design and construction phase of the respective museum projects. Effectively,
these negotiations fostered collaboration between the parties which are economically advantageous, but
yet allows for all the parties to set their development schedule within a seven-year overall deadline and
subject to the City's verification that all conditions precedent, including funding are in place as a
precursor to commencing construction.
The Development Agreement, amongst other things, requires that the Museums demonstrate their ability
to build and fund their respective museum projects as a condition to begin construction, established a
four-year limit to begin construction and a maximum of seven years to complete construction. The
Development Agreement also contemplates the full development of the Museum Park Component by
the City in accordance with the Cooper Robertson Master Plan subject to the expansion and extension of
the Omni CRA but provides for it under a pay-as-you-go funding scenario with no less than $2 million
for passive park improvements to coincide with the museums' targeted opening dates.
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