HomeMy WebLinkAboutCRA-R-05-0008 LEGISLATIONCity of Miami
Legislation
CRA Resolution
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Miami, FL 33133
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File Number: 04-01394 Final Action Date:
A JOINT RESOLUTION OF THE BOARDS OF DIRECTORS OF THE SOUTHEAST
OVERTOWN/PARK WEST AND OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCIES ("CRAS") AUTHORIZING THE
EXECUTIVE DIRECTOR TO EXERCISE THE CRAS' OPTION TO RENEW THE
LEASE AGREEMENT WITH CITADEL ARENA CORPORATION FOR THE CRAS'
OFFICE SPACE AT 49 NORTHWEST 5TH STREET, MIAMI, FLORIDA, FOR A
PERIOD OF ONE YEAR, COMMENCING SEPTEMBER 1, 2005, AT THE RATE OF
$13,561.67 PER MONTH, OR AN ANNUAL AMOUNT OF $162,740.04 ($16.27 PER
SQUARE FOOT), INCLUDING TAXES, UTILITIES, AND 16 PARKING SPACES;
FUNDS TO BE ALLOCATED FROM GENERAL OPERATING FUND, "RENT
BUILDINGS," ACCOUNT CODE NO. 689004.550010.6.620.
WHEREAS, the Boards of Directors of the Southeast Overtown/Park West and Omni
Redevelopment District Community Redevelopment Agencies ("CRAs") by Resolutions No. SEOPW/
CRA R-03-60 and Omni/CRA R-03-42, both passed and adopted on July 15, 2003, authorized
execution of a lease agreement between the CRAs and the Citadel Arena Corporation for the lease of
approximately 10,000 square feet of office space at 49 Northwest 5th Street, Miami, Florida, for an
initial term of two years with the option to renew for three (3) additional one-year periods at a stipulated
rent increase of three percent (3%) per renewal; and
WHEREAS, the lease requires that the CRAs must notify the landlord of their intent to renew the
lease no later than July 31, 2005; and
WHEREAS, the Boards of Directors wish to renew the Citadel Arena Lease on the terms provided
therein;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARDS OF DIRECTORS OF THE
SOUTHEAST OVERTOWN/PARK WEST AND THE OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCIES 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 herein as if fully set forth in this Section.
Section 2. The Executive Director is authorized to exercise the CRAs' option to renew the lease
agreement with Citadel Arena Corporation for the CRAs' office space at 49 Northwest 5th Street,
Miami, Florida, fora period of one year, commencing September 1, 2005, at the rate of $13,561.67 per
month, or an annual amount of $162,740.04 ($16.27 per square foot), including taxes, utilities, and 16
parking spaces.
Section 3. Funds are to be allocated from General Operating Fund, "Rent Buildings," Account
Code No. 689004.550010.6.620.
City of Miami
Page 1 of 2 Printed On: 1/20/2005
File Number: 04-01394
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROV D AS TO FORM AND CORREGJNESS:
JORGE L F
GENEF,L CO NSEL
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