HomeMy WebLinkAboutCRA-R-09-0021 Cover MemoSEOPW & Omni Boards of Commissioners Meeting
April 27, 2009
Item # 3
SOUTHEAST OVERTOWN/PARK WEST
AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: April 17, 2009 File: 09-00420
and Members of the CRA Board
Subject: Resolution Authorizing Renewal of CRA
Office Space Lease.
Frorn: James H. Villacorta References:
Executive Director.%
Enclosures: Legislation
BACKGROUND:
It is recommended that the Boards of Commissioners of the Southeast Overtown/Park West and Omni
Redevelopment District Community Redevelopment Agencies ("CRAs") approve and adopt the attached Joint
Resolution authorizing the Executive Director to exercise the CRAs' option to renew its lease with Citadel Arena
Corporation for the CRAB' office space at 49 N.W. 5t" Street, Miami, Florida, for a period of one year,
commencing September 1, 2009, at the rate of $14,819.20 per month, or an annual amount of $177,830.40
($17 78 per square foot), including taxes, utilities, and 16 parking spaces.
On July 15, 2003, the Boards of Commissioners authorized execution of a lease agreement between the CRAs
and the Citadel Arena Corporation ("Citadel") 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 far three (3)
additional one-year periods at a stipulated rent increase of three percent (3%) per renewal (SEOPW Resolution
No. CRA R-03-60 and Omni Resolution No. CRA R-03-42).
On April 28, 2008, the Boards of Commissioners, by Joint Resolution No. CRA-R-08-0019, authorized execution
of an amendment to the CRAs existing lease agreement to provide the CRAs with the option to renew the term
for two (2) additional one-year periods at a stipulated rent increase of three percent (3%) per renewal. However,
Citadel has agreed to renew the lease at no increase in cost.
JUSTIFICATION:
The CRAs require office space to carry out their operations. This Resolution provides for the CRAs to continue
operations at their current location while space at 1401 North Miami Avenue is renovated.
FUNDING: $14,819.20 from FY 2009 General Operating Fund, "Rental and Leases," Account Code No.
10030.920101.544000.0000.00000; and $163,011.20 from FY 2010 General Operating Fund, "Rental and
Leases," Account Code No. 10030.920101.544000.0000.00000.
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