HomeMy WebLinkAboutCRA-R-07-0013 LegislationI C$ ii�TG
City of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00343
Final Action Date:
A JOINT RESOLUTION OF THE BOARDS OF COMMISSIONERS 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, 2007, AT THE
RATE OF $14,387.57 PER MONTH, OR AN ANNUAL AMOUNT OF $172,650.84
($17.26 PER SQUARE FOOT), INCLUDING TAXES, UTILITIES, AND 16 PARKING
SPACES; FUNDS TO BE ALLOCATED FROM GENERAL OPERATING FUND,
ACCOUNT CODE NO. 10030.920101.544000.0000.00000, ENTITLED "RENTAL
AND LEASES."
WHEREAS, the Boards of Commissioners 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, 2007; and
WHEREAS, the Boards of Commissioners wish to renew the Citadel Arena Lease on the terms
provided therein;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARDS OF COMMISSIONERS 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, 2007, at the rate of $14,387.57 per
month, or an annual amount of $172,650.84 ($17.26 per square foot), including taxes, utilities, and 16
parking spaces.
Section 3. Funds are to be allocated from General Operating Fund, Account Code No.
10030.920101.544000.0000.00000, entitled "Rental and Leases."
City of Miami Page 1 of 2
Printed On: 3/19/2007
File Number- 07-00343
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Section 4. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
RGE L. FERNANDEZ
ENERAL COUNSEL
City of Miami Page 2 of 2 Printed On: 3/19/2007