HomeMy WebLinkAboutSummary FormAC2ENQA ITEM SUMMARY FORM
$.4' FILE ID: t5--- o a a,
Date: 10/05/2005
Requesting Department: Public Facilities
Commission Meeting Date: 11/17/2005 District Impacted: 5 2005 UCT 14f9 36
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Lease Agreement with Martin Luther King Economic Development Corporation
Purpose of Item:
Authorize the City Manager to execute a Lease Agreement between Martin Luther King Economic
Development Corporation ("Lessor"), and the City of Miami ("Lessee"), in substantially the attached
form, for the lease of approximately 1,022 square feet of office space located at 6100 Northwest 7th
Avenue, Suite 6140-A Miami, Florida. The lease is for a five-year term that shall commence no later
than four (4) months after Lessee issues notice to proceed with construction of the premises to Lessor
and Lessee physically occupies the Premises. See attached for further information.
Background Information:
The City of Miami is interested in relocating the Model City Neighborhood Enhancement Team
("NET") office from its present location at 1000 Northwest 62"d Street, to improve the physical
conditions and quality of services that is needed to serve the community .See attached for further
information.
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: 145001.251113.6.620
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP N/A
Final Approvals
,(SIGN AND DATE)
[f using or receiving capital funds
Grants N/A
Purchasing N/A
Chief )11
Budget _ ����
Risk Managemen I/,1,i f
Dept. Director /'►�! ,:�C ,
City Manager
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AGENDA ITEM SUMMARY FORM
Subject: Lease Agreement with Martin Luther King Economic Development Corporation
Purpose of Item:
The lease term has an option to extend for two (2) additional two-year terms subject to mutual consent
of the parties. Rent for the initial term shall be at a rate,of $8.45 per square foot or $719.66 per month
with rent for option years to be adjusted based on increases in Consumer Price Index (CPI) but shall
not exceed three percent (3%). Lessee to provide construction funding to Lessor in the amount of
$59,000 but shall not exceed $59,000 and Lessor to provide Lessee with complete build -out of the
Premises, pay all common area operating charges, and provide five (5) reserved parking spaces for
Lessee. Should Lessor's property be demolished as a part of its redevelopment project, Lessor shall,
at its sole cost and expense, relocate Lessee to comparable premises within property it owns and
Lessee shall have the first right of refusal for a new lease in the relocated premises, with other terms
and conditions as more particularly set forth in the lease agreement.
Background Information:
The administration negotiated with Martin Luther King Economic Development Corporation
("MLKEDC"), owner of property at 6100 Northwest 7th Avenue, to lease office space for the NET.
The City shall provide MLKEDC with construction funding in the amount of $59,000 so that
MLKEDC can provide the complete build -out of the space but the construction funding will be based
on the City's design and specifications. MLKEDC shall be responsible for all costs in excess of
$59,000.00. If the property is demolished at any time during the term, MLKEDC, at its sole cost and
expense, must relocate the City to a comparable premises within property it owns and the City shall
have first right of refusal for the new lease of the relocated premises.
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