HomeMy WebLinkAboutMaster ReportTitle: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING
THE CITY MANAGER TO EXECUTE AMENDMENT NO. 3 TO THE LEASE AGREEMENT
BETWEEN THE CITY OF MIAMI ("CITY") AND BISCAYNE BAY RESTAURANT CORPORATION
(D/B/A RUSTY PELICAN) ("LESSEE"), IN SUBSTANTIALLY THE ATTACHED FORM,
("AMENDMENT"), TO PROVIDE FOR: (1) AN EXTENSION OF THE BASE TERM TO EXPIRE
ON OCTOBER 1, 2027 WITH TWO (2) FIVE-YEAR OPTIONS TO RENEW, COMMENCING ON
THE EFFECTIVE DATE OF THE AMENDMENT; (2) AN INCREASE IN BASE RENT FROM
$48,000 TO $360,000 ANNUALLY, COMMENCING ON THE EXECUTION DATE OF THE
AMENDMENT; (3) AN INCREASE IN PERCENTAGE RENT UPON THE EARLIER OF (I)
COMPLETION OF THE PHASE I REQUIRED CAPITAL IMPROVEMENTS OR (II)
TWENTY-FOUR MONTHS AFTER ISSUANCE OF THE FIRST BUILDING PERMIT FOR PHASE I,
TO 7% OF GROSS REVENUES FROM $0 - $12,000,000 ANNUALLY, 8% OF GROSS REVENUES
OVER $12,000,000 ANNUALLY, AND 8.5% OF GROSS REVENUES ANNUALLY THEREAFTER
DURING ANY RENEWAL PERIODS; (4) LESSEE'S CONSTRUCTION OF CERTAIN CAPITAL
IMPROVEMENTS, AT A COST OF NOT LESS THAN $3,000,000 INCLUDING SOFT COSTS; (5)
LESSEE'S CONTRIBUTION OF $4,000,000 TOWARD THE COST OF CONSTRUCTION OF A
NEW PARKING FACILITY; (6) THE CITY'S RIGHT TO ASSIGN ALL OF ITS RIGHTS AND
OBLIGATIONS RELATING TO THE CONSTRUCTION OF THE NEW PARKING FACILITY TO
THE DEPARTMENT OF OFF-STREET PARKING ("MPA"); INCLUDING THE RIGHT TO RECEIVE
LESSEE'S CONSTRUCTION CONTRIBUTION AND LESSEE'S CONSENT TO SAID
ASSIGNMENT UPON MPA'S ASSUMPTION THEREOF, ALL AS MORE PARTICULARLY SET
FORTH IN THE AMENDMENT; FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE
OTHER DOCUMENTS AS MAY BE REQUIRED TO IMPLEMENT THE AMENDMENT.
Sponsors:
T,y op.y
City of Miami
City Hall
3500 Pan American Drive
F
Miami, FL 33133
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Master Report
vuww.miamigov.com
Version: Acting Body:
Enactment Number: R-09-0482
Action: Sent To: Due Date: Return Date: Result:
File Number:
09-01004 File Type: Resolution
Status:
Passed
Version:
1 Reference:
Controlling Body:
Office of the City
ADOPTED Pass
1 Office of the Mayor
10/14/2009
Clerk
File Name:
Amend No.3-Lease Agmt-Rusty Pelican
Introduced:
9/3/2009
Requester:
Department of Public Facilities Cost:
Final Action:
10/8/2009
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING
THE CITY MANAGER TO EXECUTE AMENDMENT NO. 3 TO THE LEASE AGREEMENT
BETWEEN THE CITY OF MIAMI ("CITY") AND BISCAYNE BAY RESTAURANT CORPORATION
(D/B/A RUSTY PELICAN) ("LESSEE"), IN SUBSTANTIALLY THE ATTACHED FORM,
("AMENDMENT"), TO PROVIDE FOR: (1) AN EXTENSION OF THE BASE TERM TO EXPIRE
ON OCTOBER 1, 2027 WITH TWO (2) FIVE-YEAR OPTIONS TO RENEW, COMMENCING ON
THE EFFECTIVE DATE OF THE AMENDMENT; (2) AN INCREASE IN BASE RENT FROM
$48,000 TO $360,000 ANNUALLY, COMMENCING ON THE EXECUTION DATE OF THE
AMENDMENT; (3) AN INCREASE IN PERCENTAGE RENT UPON THE EARLIER OF (I)
COMPLETION OF THE PHASE I REQUIRED CAPITAL IMPROVEMENTS OR (II)
TWENTY-FOUR MONTHS AFTER ISSUANCE OF THE FIRST BUILDING PERMIT FOR PHASE I,
TO 7% OF GROSS REVENUES FROM $0 - $12,000,000 ANNUALLY, 8% OF GROSS REVENUES
OVER $12,000,000 ANNUALLY, AND 8.5% OF GROSS REVENUES ANNUALLY THEREAFTER
DURING ANY RENEWAL PERIODS; (4) LESSEE'S CONSTRUCTION OF CERTAIN CAPITAL
IMPROVEMENTS, AT A COST OF NOT LESS THAN $3,000,000 INCLUDING SOFT COSTS; (5)
LESSEE'S CONTRIBUTION OF $4,000,000 TOWARD THE COST OF CONSTRUCTION OF A
NEW PARKING FACILITY; (6) THE CITY'S RIGHT TO ASSIGN ALL OF ITS RIGHTS AND
OBLIGATIONS RELATING TO THE CONSTRUCTION OF THE NEW PARKING FACILITY TO
THE DEPARTMENT OF OFF-STREET PARKING ("MPA"); INCLUDING THE RIGHT TO RECEIVE
LESSEE'S CONSTRUCTION CONTRIBUTION AND LESSEE'S CONSENT TO SAID
ASSIGNMENT UPON MPA'S ASSUMPTION THEREOF, ALL AS MORE PARTICULARLY SET
FORTH IN THE AMENDMENT; FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE
OTHER DOCUMENTS AS MAY BE REQUIRED TO IMPLEMENT THE AMENDMENT.
Sponsors:
Notes:
Indexes:
Attachments: 09-01004
Legislation.pdf,09-01004 Exhibit.pdf,09-01004 Summary Form.pdf,
History of Legislative File
Version: Acting Body:
Date:
Action: Sent To: Due Date: Return Date: Result:
1 Office of the City
10/7/2009
Reviewed and
Attorney
Approved
1 City Commission
10/8/2009
ADOPTED Pass
1 Office of the Mayor
10/14/2009
Signed by the Mayor Office of the City
Clerk
City of Miami
Page I Printed on 7/3/2017
'TY OP.tt City Hall
F City of Miami 3500 Pan American Drive
Miami, FL 33133
F wln www.miamigov.com
Master Report
Enactment Number: R-09-0482
1 Office of the City Clerk 10/15/2009 Signed and Attested
by City Clerk
City ofMiami Page 2 Printed on 71312017