HomeMy WebLinkAboutCRA-R-10-0037City of Miami
Legislation
CRA Resolution: CRA-R-10-0037
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 10-00599 Final Action Date: 5/13/2010
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA")
AUTHORIZING THE EXECUTIVE DIRECTOR TO EXERCISE THE CRA'S OPTION
TO RENEW ITS LEASE WITH CITADEL ARENA CORPORATION FOR THE CRA'S
OFFICE SPACE AT 49 N.W. 5TH STREET, MIAMI, FLORIDA, FOR A PERIOD OF
ONE YEAR, COMMENCING SEPTEMBER 1, 2010, AT THE RATE OF $7,409.60
PER MONTH, OR AN ANNUAL AMOUNT OF $88,915.20 ($8.89 PER SQUARE
FOOT), INCLUDING TAXES, UTILITIES, AND 16 PARKING SPACES; FUNDS TO
BE ALLOCATED FROM SEOPW TAX INCREMENT FUND, "GENERAL OPERATING
RENTALS AND LEASES," ACCOUNT CODE NO.
10030.920101.544000.0000.00000.
WHEREAS, the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency, by Resolution No. CRA-R-03-60, passed and adopted on July 15, 2003,
authorized execution of a lease agreement between the CRA and the Citadel Arena Corporation
("Citadel") for the lease of approximately 10,000 square feet of office space at 49 N.W. 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 Boards of Commissioners, by Joint Resolution No. CRA-R-08-0019, passed and
adopted on April 28, 2008, authorized the execution of an amendment to the lease agreement to
provide the CRA with the option to renew the term for two (2) additional one-year periods; and
WHEREAS, the amended lease agreement requires the CRA to notify Citadel of its intent to
renew the lease no later than July 31, 2010; and
WHEREAS, Citadel has agreed to renew the lease at no increase in cost; and
WHEREAS, the Board of Commissioners wishes to renew the lease;
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 Executive Director is authorized to exercise the CRA's option to renew its lease
with Citadel Arena Corporation for the CRA's office space at 49 N.W. 5th Street, Miami, Florida, for a
period of one year, commencing September 1, 2010, at the rate of $7,409.60 per month, or an annual
amount of $88,915.20 ($8.89 per square foot), including taxes, utilities, and 16 parking spaces.
City of Miami Page 1 of 2 File Id: 10-00599 (Version: 1) Printed On: 12/20/2022
File Number: 10-00599 Enactment Number: CRA-R-10-0037
Section 3. Funds to be allocated from SEOPW Tax Increment Fund, "General Operating Rentals
and Leases," Account Code No. 10030.920101.544000.0000.00000.
Section 4. This resolution shall become effective immediately upon its adoption.
City of Miami Page 2 of 2 File Id: 10-00599 (Version: 1) Printed On: 12/20/2022