HomeMy WebLinkAboutR-08-0492City of Miami
Legislation
Resolution: R-08-0492
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-01044 Final Action Date: 9/11/2008
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 ATHEME 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 1 of 2 File Id: 08-01044 (Version: 1) Printed On: 5/12/2017
File Number: 08-01044 Enactment Number: R-08-0492
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}
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 File Id: 08-01044 (Version: 1) Printed On: 5/12/2017