HomeMy WebLinkAboutCRA-R-08-0019City of Miami
Legislation
CRA Resolution: CRA-R-08-0019
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-00458 Final Action Date: 4/28/2008
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 EXECUTE AN AMENDMENT, IN A FORM
ACCEPTABLE TO GENERAL COUNSEL, TO THE LEASE AGREEMENT WITH
CITADEL ARENA CORPORATION FOR THE CRAS' OFFICE SPACE AT 49
NORTHWEST 5TH STREET, MIAMI, FLORIDA, TO PROVIDE THE CRAS WITH
THE OPTION TO RENEW THE TERM FOR TWO (2) ADDITIONAL ONE-YEAR
PERIODS; AUTHORIZING THE EXECUTIVE DIRECTOR TO EXERCISE THE
OPTION FOR A PERIOD OF ONE YEAR COMMENCING SEPTEMBER 1, 2008 AT
THE RATE OF $14,819.20, OR AN ANNUAL AMOUNT OF $177,830.40 ($17.78 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
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 CRAs last renewal period will expire on August 31, 2008; and
WHEREAS, on January 28, 2008 the Boards of Commissioners authorized the Executive
Director to negotiate an extension of the Lease term; and
WHEREAS, the CRAs and Citadel Arena Corporation have negotiated an amendment
providing for two (2) additional renewal periods at a stipulated rent increase of three percent (3%) per
renewal; and
WHEREAS, the Boards of Commissioners wish to authorize execution of the amendment to
the Lease Agreement and exercise of the option to renew the Lease Agreement for one (1) year;
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.
City of Miami Page 1 of 2 File Id: 08-00458 (Version: 11 Printed On: 1/3/2023
File Number: 08-00458 Enactment Number: CRA-R-08-0019
Section 2. The Executive Director is authorized to execute an amendment, in substantially the
attached form, to the Lease Agreement with Citadel Arena Corporation for the CRAs' office space at
49 Northwest 5th Street, Miami, Florida, to provide the CRAs with the option to renew the term for two
(2) additional one-year periods.
Section 3. The Executive Director is authorized the Executive Director to exercise the option
for a period of one year commencing September 1, 2008 at the rate of $14,819.20, or an annual
amount of $177,830.40 ($17.78 per square foot), including taxes, utilities and 16 parking spaces.
Section 4. Funds are to be allocated as follows: $14,819.20 from FY 2008 General Operating
Fund, Account Code No. 10030.920101.544000.0000.00000, entitled "Rental and Leases";
$163,011.20 from FY 2009 General Operating Fund, Account Code No.
10030.0920101.544000.0000.00000.
Section 5. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 08-00458 (Version: 11 Printed On: 1/3/2023