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HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM FILE ID: S '0 l0$-1 Date: 9/15/2005 Commission Meeting Date: 10/13/2005 Requesting Department: Economic Development District Impacted: 2 Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item El Other Subject: Donation and Maintenance Agreement for Water Taxi Dock Purpose of Item: A Resolution authorizing the City Manager to execute a Donation and Maintenance Agreement with City National Bank of Florida, a national banking association as Trustee under Land Trust No. 2401-1149-00 ("Owner") for construction and maintenance of a water taxi dock over the City -owned submerged lands lying south of and adjacent to the property located at 315, 325 and 335 South Biscayne Boulevard, Miami, Florida; with terms and conditions as more particularly set forth in the Agreement. This Resolution further authorizes the City Manager to make non -substantive amendments to such agreement as needed. Background Information: The Major Use Special Permit (MUSP) approved for the development of a mixed -use residential and commercial project on the property located at 315, 325 and 335 South Biscayne Boulevard, Miami, Florida, included a condition requiring the construction and maintenance of a water taxi dock. The attached agreement provides for the Owner to cause TRG-OMC, Ltd., a Florida limited partnership, a beneficiary under the Trust, to construct the Improvements with it being the intention of being a gift to the City, the estimated value of which is $125,000. This Agreement will be for a period of 25 years and shall automatically renew for additional 25 year periods unless the City Manager delivers written notice to the Owner that the renewal is not being exercised. Notwithstanding same, in the event the City or a third party is not operating a water taxi from the Improvements at the expiration of the initial 25 year period, this Agreement shall automatically terminate. This Agreement is further revocable by the City Manager at -will. The Owner shall further be responsible for all maintenance and repairs to the Improvements. Budget Impact Analysis NO Is this item related to revenue? NO . Is this item an expenditure? If so, please identify funding source below. General Account No: Special Revenue Account No: CIP Project No: NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds? Start Up Capital Cost: Maintenance Cost: Total Fiscal Impact: CIP r)/C.. Final Approvals (SIGN AND DATE) Budget n /6 Grams or receivin. cavyt$i funds Risk Management Purchasing n Dept. Director Chi���'1'l City Manager Page 1 of 1