HomeMy WebLinkAboutLegislationCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-01044 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO EXECUTE THE THIRD
MODIFICATION TO LEASE AND DEVELOPMENT AGREEMENT, IN
SUBSTANTIALLY THE ATTACHED FORM, WITH PARROT JUNGLE AND
GARDENS OF WATSON ISLAND, INC., FOR THE PURPOSE OF PERMITTING
THE CONSTRUCTION OF ADDITIONAL CAPITAL IMPROVEMENTS,
INCLUDING A THEME HOTEL AND RELATED RETAIL AND ENTERTAINMENT
THAT IS ANCILLARY TO THE EXISTING DESTINATION VISITOR ATTRACTION
("ADDITIONAL CAPITAL IMPROVEMENTS"), PROVIDED THE SIZE, TYPE,
STRUCTURE AND MARKETING, AMONG OTHER THINGS, IS OF SUCH A
SCOPE, AS DETERMINED IN THE REASONABLE DISCRETION OF THE CITY
OF MIAMI ("CITY"), TO BE ANCILLARY TO THE DESTINATION VISITOR
ATTRACTION; ESTABLISHING PERCENTAGE RENT FOR THE ADDITIONAL
CAPITAL IMPROVEMENTS AT AN AMOUNT EQUAL TO 1 % OF GROSS
REVENUE RECEIVED BY THE SUBTENANT OR, IF OPERATED BY OTHER
THAN A SUBTENANT, THE OPERATOR OF THE ADDITIONAL
IMPROVEMENTS; FURTHER MODIFYING THE FORMULA FOR CALCULATING
THE CITY'S TRANSFER FEE, AND WITH SUCH OTHER TERMS AND
CONDITIONS AS MORE FULLY SET FORTH IN SAID MODIFICATION.
WHEREAS, the City of Miami ("City") entered into a Lease and Development Agreement
("Lease") with Parrot Jungle and Gardens of Watson Island, Inc. ("Parrot Jungle"), on September 2,
1997, for an initial 45 year term with a 15 year option period; and
WHEREAS, Parrot Jungle anticipates constructing a theme hotel and related retail and
entertainment on the Subject Property (the "Additional Improvements") that is ancillary to the existing
destination visitor attraction and has requested the City to modify certain terms of the Lease as they
apply to the Additional Improvements; and
WHEREAS, the City is willing to modify the terms of the Lease to permit the construction of the
Additional Improvements provided the size, type and structure, is of such a scope, as determined in
the reasonable discretion of the City to be ancillary to the destination visitor attraction, and subject to
the approval of the Additional Improvements by the Board of Trustees of the Internal Improvement
Trust Fund of the State of Florida ("State Approval");
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.
City of Miami Page I of 2 Printed On: 8/29/2008
File Number. 08-01044
Section 2. The City Manager is authorized{1} to execute the Third Modification to Lease and
Development Agreement, in substantially the attached form, with Parrot Jungle, for the purpose of
permitting the construction of Additional Capital Improvements,provided the size, type, structure, and
marketing, among other things, is of such a scope, as determined in the reasonable discretion of the
City, to be ancillary to the destination .visitor attraction, establishing percentage rent for the Additional
Capital Improvements at an amount equal to 1 % of Gross Revenue received by the Subtenant or, if
operated by other than a Subtenant, the operator of the Additional Improvements, and modifying the
formula for calculating the City's Transfer Fee, with such other terms and conditions as more fully set
forth in said modification.
Section 3. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor.{2}
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
CITY ATTORNEY v"
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: 8/29/2008