HomeMy WebLinkAboutPre Summary Form 2Date: 5/17/07
AGENDA ITEM SUMMARY FORM
FILE ID:
Requesting Department: Cap Imvts & Transportation
Commission Meeting Date: District Impacted: Ail (2)
Type: ® Resolution D Ordinance ❑ Emergency Ordinance ❑ Discussion Item ❑ Other
Subject: Grant of $2,000,000 to Miami Art Museum for development of a fine art museum facility in
Bicentennial Park ("Museum Park"),
Purpose of Item:
To approve a grant of $2,000,000 to the Miami Art Museum ("MAM") to support the development of
a new fine art museum facility in the City -owned Museum Park as authorized by a referendum of the
voters in November 2001 as a specified project in the Homeland Defense Neighborhood Improvement
Bond Program, authorizing the City Manager to execute the attached project cooperation agreement,
and allocating funds from B-78503, the Capital Improvement Project entitled "Miami Art Museum -
Development in Bicentennial Park".
Background Information:
The development of a fine art museum in Bicentennial Park has been the intent of the City since the late 1990's.
The City allocated funding for the MAM and the Miami Science Museum projects from the the Homeland
Defense Neighborhood Improvement Bond Program to be dispersed over several funding cycles. Combined,
the museums were granted an initial $2,800,000 of which $700,000 was utilized by each museum to support
development activities related to their project, including hiring consultants specializing in museum planning,
financial feasibility and project management. The remaining $1,400,000 was utilized by the City to hire
Cooper, Robertson and Partners to prepare a master site plan and design development documents for the park.
MAM has now expended the initial funding allocation and is requesting $2,000,000 to further the Project. The
attached project cooperation agreement has been drafted to govern the responsibilities of the City and MAM in
this endeavor. Funding will become available with the issuance of the next series of the Bonds; therefore the
agreement will not be fully executed until that time.
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:
UP Project No: B-78503
YES Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: 000
C.I.P APPROVAL:
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Chief tp_t 6 k44r/" City Manager
Project Manager: John De Pazos
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