HomeMy WebLinkAboutCRA-R-10-0029City of Miami
Legislation
CRA Resolution: CRA-R-10-0029
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 10-00546 Final Action Date: 4/26/2010
A RESOLUTION OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY
REDEVELOPMENT AGENCY ("CRA") AUTHORIZING EXECUTION OF AN
AMENDMENT TO THE LEASE AGREEMENT, DATED MARCH 31, 2003, BETWEEN
THE CRA AND THE BLACK ARCHIVES HISTORY AND RESEARCH FOUNDATION
OF SOUTH FLORIDA, INC., FOR THE PROPERTY ADJACENT TO THE LYRIC
THEATER AT THE CORNER OF N.W. 2ND AVENUE AND N.W. 8TH STREET,
MIAMI, FL, TO FACILITATE THE EXPANSION OF THE LYRIC THEATRE BY
REDUCING THE INSURANCE REQUIREMENT FOR THE COMMERCIAL GENERAL
LIABILITY COVERAGE TO A $2,000,000 GENERAL AGGREGATE LIMIT, AND
WAIVING THE REQUIREMENT TO DEVELOP THE LEASED PREMISES BY
MARCH 31, 2009; AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL
DOCUMENTS NECESSARY FOR SAID PURPOSE, IN A FORM ACCEPTABLE TO
SPECIAL COUNSEL.
WHEREAS, the Southeast Overtown/ Park West Community Redevelopment Agency ("CRA")
is responsible for carrying out community redevelopment activities and projects within the
Redevelopment Area in accordance with its approved Redevelopment Plan; and
WHEREAS, the Board of Commissioners, by CRA/SEOPW Resolution No. 03-19, passed and
adopted on March 31, 2003, authorized the CRA to enter into a lease for a term of ninety nine (99)
years with the Black Archives History and Research Foundation of South Florida, Inc. ("Black
Archives") for the property adjacent to the Lyric Theatre at the corner of N.W. 2nd Avenue and N.W.
8th Street, Miami, FL ("Lease Agreement"); and
WHEREAS, the purpose of the Lease Agreement is to provide an area for parking and the
construction of improvements associated with the expansion of the Lyric Theatre ("Project");
WHEREAS, Article 11, at page 17, of the Lease Agreement provides that the Black Archives is
required to carry commercial general liability insurance with a $5,000,000 general aggregate limit; and
WHEREAS, Article 23, at page 29, of the Lease Agreement provides that the CRA may
terminate in the event that the Black Archives does not commence with development of the leased
premises by March 31, 2009; and
WHEREAS, the Black Archives has submitted a request to the CRA to have the Lease
Agreement amended to facilitate completion of the Project; and
WHEREAS, reducing the general aggregate limit to $2,000,000 would be in accordance with
the City of Miami's current insurance requirement; and
WHEREAS, the CRA wishes to waive its right to terminate the Lease Agreement under Article
23;
City of Miami Page 1 of 2 File Id: 10-00546 (Version: 1) Printed On: 12/20/2022
File Number: 10-00546 Enactment Nim her: CRA-R-10-0029
WHEREAS, the Board of Commissioners wishes to authorize execution of an amendment to
the lease agreement for the property adjacent to the Lyric Theatre at the corner of N.W. 2nd Avenue
and N.W. 8th Street, Miami, FL;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY 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 execution of an amendment to the lease agreement, dated March 31, 2003,
between the Southeast Overtown/Park West Community Redevelopment Agency and the Black
Archives History and Research Foundation of South Florida, Inc., for the property adjacent to the
Lyric Theater at the corner of N.W. 2nd Avenue and N.W. 8th Street, Miami, FL, to facilitate the
expansion of the Lyric Theatre by reducing the insurance requirement for the commercial general
liability coverage to a $2,000,000 general aggregate limit, and waiving the requirement to develop the
leased premises by March 31, 2009, is authorized.
Section 3. The Executive Director is authorized to execute all documents necessary for said
purpose, in a form acceptable to Special Counsel.
Section 4. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 10-00546 (Version: 1) Printed On: 12/20/2022