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Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00431 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE
CITY MANAGER TO EXPLORE THE VARIOUS SCENARIOS REGARDING
THE DISPOSITION AND/OR REDEVELOPMENT OF THE JAMES L.
KNIGHT CENTER COMPLEX PROPOSED BY THE STAUBACH
COMPANY, NORTHEAST, INC. ("STAUBACH"); FURTHER DIRECTING
THE CITY MANAGER TO PRESENT AT A FUTURE CITY COMMISSION
MEETING DATE, AN INVITATION TO BID FOR THE SALE OF THE
NORTH SIDE ASSETS AND TO BRING BACK RECOMMENDATIONS
CONCERNING THE REDEVELOPMENT OF THE SOUTH SIDE ASSETS,
OF SAID PROPERTY, INCLUDING AN AMENDMENT, IF REQUIRED, TO
THE AGREEMENT WITH STAUBACH TO IMPLEMENT SUCH
RECOMMENDATIONS.
WHEREAS, on September 12, 2006, following a competitive process, the City Commission
adopted Resolution No. 06-0537, authorizing the execution of an agreement with Staubach Company,
Northeast, Inc. ("Staubach") to provide real estate and financial advisory services in connection with
the possible disposition of the James L. Knight Center complex; and
WHEREAS, Staubach has completed the analysis portion of Phase! of its scope of work and
developed five scenarios upon which the City of Miami ("City") can proceed which are being presented
to the City Commission on this day; and
WHEREAS, Staubach has determined that the City can maximize value and redevelopment
opportunities for the property by dividing the property into the "North Side" assets (north of 1-95 ramp)
and "South Side" assets (south of 1-95 ramp); and
WHEREAS, it is in the best interest of the City to explore the scenarios that contemplate the sale
of the North Side assets and to explore the redevelopment of the South Side assets and/or amending
or entering into a new lease with the Hyatt;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
reference and incorporated as if fully set forth in this Section.
Section 2. The City Manager is authorized{1} to explore the various scenarios regarding the
disposition and/or redevelopment of the James L. Knight Center complex proposed by Staubach.
Section 3. The City Manager is directed to present at a future City Commission meeting date, an
invitation to bid for the sale of the North Side assets and to bring back recommendations concerning
the redevelopment of the South Side assets, of said property, including an amendment, if required, to
City of Miami Page J of 2 Printed On: 4/30/2007
File Number: 07-00431
the agreement with Staubach to implement such recommendations.
Section 4. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{2}
APPROVED AS TO FORM AND CORRECTNESS:
JOKE L. FERNAN
CITY ATTORNEY'i� `'
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may
be imposed by the City Attorney, including but not limited to those prescribed by applicable
City Charter and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten
calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it
shall become effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 Printed On: 4/30/2007