HomeMy WebLinkAboutCRA-R-06-0013 LegislationCity of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.ci_miami.fl.us
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File Number: 06-00274
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, 2006, AT THE RATE OF
$13,968.52 PER MONTH, OR AN ANNUAL AMOUNT OF $167,622.24 ($16.76
PER SQUARE FOOT), INCLUDING TAXES, UTILITIES, AND 16 PARKING
SPACES; FUNDS TO BE ALLOCATED FROM SEOPW/OMNI TIF GENERAL
OPERATING ACCOUNT, "RENT/BUILDING," 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, 2006; 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, for a period of one year, commencing September 1, 2006, at the rate of
$13,968.52 per month, or an annual amount of $167,622.24 ($16.76 per square foot), including
taxes, utilities, and 16 parking spaces.
Section 3. Funds are to be allocated from SEOPW/Omni TIF General Operating Account,
Page 1 of 2 Printed On: 3/16/2006
City of Miami
File Number: 06-00274
"Rent/Building," Account Code No. 689004.550010.6.620.
Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
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JORGE ' ERh ANDEZ
GENERA 11NSEL
City of Miami
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