HomeMy WebLinkAboutLegislation-SUBCity of Miami
Legislation
Resolution
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City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number; 08-01458 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ACCEPTING A PAYMENT TO THE CITY OF MIAMI, IN THE AMOUNT OF
$500,000, IN SETTLEMENT OF THE CLAIMS AND DEMANDS FOR THE CASE, Og
CITY OF MIAMI VS. BAYSIDE CENTER LIMITED PARTNERSHIP, AN AFFILIA cci=
OF GENERAL GROWTH PROPERTIES, INC., AMERICAN ARBITRATION 0=4r,
ASSOCIATION CASE NO. 32 115 Y 00687, PURSUANT TO THE TERMS OF
SETTLEMENT AGREEMENT; DIRECTING THE CITY MANAGER TO EXECU744
THE SETTLEMENT AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORS
AND ALL NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CrTY
ATTORNEY, TO EFFECTUATE THE SETTLEMENT.
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WHEREAS, in 1985, Bayside Center Limited Partnership entered into two contracts for the
Bayside Marketplace with the City of Miami ("City), specifically a Garage Lease and a Retail Lease
(collectively "the Leases"), wherein Bayside Center Limited Partnership was to develop, construct and
operate a garage and retail mall; and
WHEREAS, upon completion of the garage and retail mall in 1987, Bayside Center Limited
Partnership, pursuant to language included in the Leases, calculated and paid rent due and owing to
the City; and
WHEREAS, an audit was conducted by Victor I. Igwe, CPA, CIA, Independent Auditor General,
Office of the Auditor General, City of Miami, for the Bayside Center Limited Partnership (Bayside
Marketplace) for the period January 1, 1998 through December 31, 2000; and
WHEREAS, the Auditor General concluded that Bayside Center Limited Partnership had underpaid
the City the percentage rents due under the Garage Lease; and
WHEREAS, the City on August 29, 2007, filed a demand for arbitration against Bayside Center
Limited Partnership alleging, inter alia, claims for underpaid percentage rent in the arbitration case
captioned City of Miami vs. Bayside Center Limited Partnership, American Arbitration Association
Case No. 32 115 Y 00687 ("the Arbitration); and
WHEREAS, Bayside Center Limited Partnership, pursuant to a merger involving General Growth
Properties, Inc., became Bayside Marketplace, LLC after the merger; and
WHEREAS, Bayside Marketplace, LLC ("Bayside") and the City, pursuant to a mediation
conference held on October 7 and 8, 2008 between the parties to the Arbitration, wish to settle all
claims in the Arbitration; and
WHEREAS, payment in the amount of $500,000 to the City, in settlement of all claims in the
Arbitration, pursuant to the terms more fully set forth in the attached Settlement Agreement, has been
City of Miami Page 1 of 2 Printed On: 12/8/2008
0-01''S-L 2iS/at'ovr-Sty
File Number: 08-01458
evaluated and negotiated by the City Attorney, the Chief Financial Officer, the Acting Director of Public
Facilities, the Lease Manager and the Independent Auditor General and is recommended for approval
by the City Attorney;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIANII,
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. Payment to the City, in the amount of Five Hundred Thousand Dollars ($500,000), in full
settlement of the claims and demands for the case of City of Miami vs. Bayside Center Limited
Partnership, American Arbitration Association Case No. 32 115 Y 00687, pursuant to the terms of the
Settlement Agreement, in substantially the attached form, is accepted.
Section 3. The City Manager is authorized{1} to execute the Settlement Agreement, in
substantially the attached form, and all necessary documents, in a form acceptable to the City
Attorney, to effectuate the Settlement.
Section 4. 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
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.
THIS DOCUMENT IS A
SUBSTITUTION TO ORIGINAL
BACKUP. ORIGINAL CAN BE SEEN
AT THE END OF THIS DOCUMENT.
City of Miami Page 2 of 2 Printed On: 12/8/2008
SUBSTITUTED
City of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
ile Number: 08-01458 Final Action Date:
RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
A• CEPTING A PAYMENT TO THE CITY OF MIAMI, IN THE AMOUNT OF
$50► 000, IN SETTLEMENT OF THE CLAIMS AND DEMANDS FOR THE CASE OF
CITY ►`F MIAMI VS. BAYSIDE CENTER LIMITED PARTNERSHIP, AN AFFILIATE
OF GE RAL GROWTH PROPERTIES, INC., AMERICAN ARBITRATION
ASSOCIA ON CASE NO. 32 115 Y 00687, PURSUANT TO THE TERMS OF A
SETTLEME T AGREEMENT; DIRECTING THE CITY MANAGER TO EXECUTE
THE SETTLE NT AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORM,
AND ALL NECEARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY, TO FECTUATE THE SETTLEMENT.
WHEREAS, in 1985, Bayside C-,ter Limited Partnership entered into two contracts for the
Bayside Marketplace with the City of -mi ("City), specifically a Garage Lease and a Retail Lease
(collectively "the Leases"), wherein Bays •e Center Limited Partnership was to develop, construct and
operate a garage and retail mall; and
WHEREAS, upon completion of the garag
Partnership, pursuant to language included in th
the City; and
nd retail mall in 1987, Bayside Center Limited
eases, calculated and paid rent due and owing to
WHEREAS, an audit was conducted by Victor I. Ig
Office of the Auditor General, City of Miami, for the Bays!
Marketplace) for the period January 1, 1998 through Dece
CPA, CIA, Independent Auditor General,
Center Limited Partnership (Bayside
er 31, 2000; and
WHEREAS, the Auditor General concluded that Bayside Ce ter Limited Partnership had underpaid
the City the percentage rents due under the Garage Lease; and
WHEREAS, the City on August 29, 2007, filed a demand for arbitr-tion against Bayside Center
Limited Partnership alleging, inter alia, claims for underpaid percentage -nt in the arbitration case
captioned City of Miami vs. Bayside Center Limited Partnership, American ' rbitration Association
Case No. 32 115 Y 00687 ("the Arbitration); and
WHEREAS, Bayside Center Limited Partnership, pursuant to a merger invol ' g General Growth
Properties, Inc., became Bayside Marketplace, LLC after the merger; and
WHEREAS, Bayside Marketplace, LLC ("Bayside") and the City, pursuant to a me•'-tion
conference held on October 7 and 8, 2008 between the parties to the Arbitration, wish to ettle all
claims in the Arbitration; and
WHEREAS, acceptance of Bayside's $500,000 payment to the City, in settlement of all clai • s in
the Arbitration, pursuant to the terms more fully set forth in the attached Settlement Agreement, -s
City of Miami Page 1 of 2 Printed On: 12/2/200
SUBSTITUTED
File Number 08-01458
b.en evaluated, approved and recommended by the City Attorney, the Chief Financial Officer, the
Act g Director of Public Facilities, the Lease Manager and the Independent Auditor General;
NO , THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORID
Section . The recitals and findings contained in the Preamble to this Resolution are adopted by
reference and corporated as if fully set forth in this Section.
Section 2. Pay ent to the City, in the amount of Five Hundred Thousand Dollars ($500,000), in full
settlement of the cla i s and demands for the case of City of Miami vs. Bayside Center Limited
Partnership, American • rbitration Association Case No. 32 115 Y 00687, pursuant to the terms of the
Settlement Agreement, i ' substantially the attached form, is accepted.
Section 3. The City Manger is authorized{1} to execute the Settlement Agreement, in
substantially the attached for and all necessary documents, in a form acceptable to the City
Attorney, to effectuate the Settl- ent.
Section 4. This Resolution shal •ecome effective immediately upon its adoption and signature of
the Mayor.{2}
APPROVED AS TO FORM AND CORRE ` NESS:
JULIE O. BRU i2 4J ,�,,�„7
CITY ATTORNEY„ �"
Footnotes:
{1} The herein authorization is further subject to compliance ith all requirements that may be
imposed by the City Attorney, including but not limited to thos- prescribed by applicable City
Charter and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become eff- tive at the end of ten calendar
days from the date it was passed and adopted. If the Mayor vetoes his Resolution, it shall
become effective immediately upon override of the veto by the City mmission.
City of Miami
Page 2 of 2
Printed On: 12/2/20