HomeMy WebLinkAboutExhibitAMENDMENT NO. 2 TO MANAGEMENT AGREEMENT
BETWEEN THE CITY OF MIAMI AND GLOBAL SPECTRUM LIMITED
PARTNERSHIP
This Amendment No. 2 to the Management Agreement is entered into this
day of , 2009 (the "Amendment") by and between the City of Miami, a
municipal corporation of the State of Florida (the "City"), and Global Spectrum Limited
Partnership, a Pennsylvania Limited Partnership (the "Firm"), for the purpose of
amending the Management Agreement dated October 1, 1997, as amended and heretofore
assigned (the "Management Agreement").
RECITALS:
WHEREAS, on September 23, 1997, the City Commission, by Resolution #97-
662, authorized the City Manager to enter into the Management Agreement with the Firm
for the management and operation of the Miami Convention Center; and
WHEREAS, the Management Agreement has been extended pursuant to
Resolutions 02-1053 and 07-0386, and will expire on March 31, 2011, unless extended
for an additional term of one (1) year by the City Manager; and
WHEREAS, the City and the University of Miami (UM) have agreed to
terminate the Conference Center Lease between the City and UM, pursuant to which UM
leased approximately 35,000 square feet of meeting and conference space at the Miami
Convention Center (the "Conference Space"), effective December 31, 2009; and
WHEREAS, the City is considering different options related to the long term use
and ownership of the Miami Convention Center; and
WHEREAS, the City Commission has determined it to be in the best interest of
the City to amend the Management Agreement to include the management and operation
of the Conference Space.
NOW, THEREFORE, in consideration of mutual covenants hereinafter set forth
and in consideration of other valuable consideration the parties covenant and agree as
follows:
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or,
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1. Incorporation of Recitals; Definitions: The recitals and findings set forth above
are hereby adopted by reference thereto and incorporated herein as if fully set forth in this
Amendment. All of the initial capitalized terms used in this Amendment shall, unless
otherwise provided herein, have the same definitions and meanings as given to them in
the Agreement.
2. Amendment Effective Date: The effective date of this Amendment shall be the
date upon which it is executed by the City Manager and the Firm, with the later of such
execution dates being the controlling effective date (the "Amendment Effective Date").
The Firm shall execute this Amendment no later than ten (10) days following City
Commission approval of this Amendment.
3. Amendment to Section 10.1: A new paragraph is hereby added to Section
10.1 to read as follows:
MANAGEMENT FEE FOR CONFERENCE SPACE:
Commencing on January 1, 2010, The CITY shall pay the FIRM,
an additional management fee of $40,000 per year to manage and
operate approximately 35,000 additional square feet of meeting
and conference space at the Miami Convention Center/James L.
Knight Center, an area formerly leased by the University of Miami
(the "Conference Space"). The Management Fee for the
Conference Space is in addition to the $97,200 annual payment for
the existing area, and shall be paid in twelve (12) equal monthly
payments of $3,333 each, on the first business day of each month
of the term commencing on the Amendment Effective Date.
4. Amendment to Section 10.2: Revenues derived from the Conference
Space shall not be considered for the purposes of determining additional compensation.
5. General Provisions: This Amendment shall be construed and governed in
accordance with the laws of the State of Florida. This Amendment may be executed in
any number of counterparts and by the separate parties hereto in separate counterparts,
each of which shall be deemed an original, but all of which shall constitute one and the
same instrument. To the extent that any terms or provisions of this Amendment are
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inconsistent or conflict with the terms and conditions of the Agreement, the terms and
conditions of this Amendment shall control. Except as specifically provided herein, all of
the terms and provisions of the Agreement shall remain in effect.
Attest:
By:
Print Name:
Corporate Secretary
Attest
BY:
Priscilla A. Thompson
City Clerk
Approved as to Form and
Correctness
By:
Julie O. Bru
City Attomey
Global Spectrum Limited Partnership, LP
John Page
Chief Operating Officer
City of Miami, a municipal corporation
of the State of Florida
In
Pedro G. Hernandez
City Manager
Approved as to Insurance
Requirements:
LeeAnn Brehm
Director of Risk Management
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