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HomeMy WebLinkAboutSummary FormAGENDA- ITE NI-S UMMARY-FORM FILE ID: 06—00)5O �7 Date: 7/10/2008 Commission Meeting Date: 7/24/2008 CA.9 Requesting Department: Public Facilities/Asset Mgmt. District Impacted: 2 Type: RI Resolution ( I Ordinance j I Emergency Ordinance ( I Discussion Item Other Subject: Authorizing Amendment to the Agreement with the Miami Parking Authority regarding Garage 4 located within the Bank of America Tower Purpose of Item: A Resolution of the City of Miami Commission, authorizing the City Manager to execute an Amendment, in substantially the attached form, to the Agreement with the Department of Off-street Parking of the City of Miami, an agency and instrumentality of the City of Miami d/b/a the Miami Parking Authority (MPA), to provide the authority for the City to assign or terminate early MPAs management of Parking Garage 4 located within the Bank of America Tower. Background Information: See attached. 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 Nf If using or receiving capital funds Grants tJ A - Final Approvals (SIGN AND DATE) Budget Purchasing Chief N !} NA Risk Management Dept. Director City Manager Page 1 of 2 Sa-hjeet-: Authorizing Amendment to I reement with the Miami Parking Authorityy-regard-i --- Garage 4 located within the Bank of America Tower Background Information: The City intends to issue an Invitation for Bids for the sale of Parking Garage No. 4 (the "Parking Garage"), which is the managed by MPA pursuant to Management Agreement for Operation of the Public Parking Facility at the City of Miami/University of Miami James L. Knight International Center, dated March 16, 1982, between the City and MPA (the "Agreement"). The Administration recommends approval of this item in order for the City and MPA to provide for an appropriate and timely transition or succession of operations for the parking garage in the event of any sale of the parking garage by amending the Agreement to provide for early termination and adequate notice upon early termination of the Agreement or, alternatively, for an assignment of the Agreement to any purchaser of the parking garage. On July 9, 2008 the Miami Parking Authority Board approved the Amendment to the Management Agreement. Authorization to issue an Invitation for Bid for the sale of the property will be presented to the City Commission at a future Commission agenda. Page 2 of 2