HomeMy WebLinkAboutCRA-R-11-0040 07-25-2011 Cover MemoSEOPW Board of Commissioners Meeting
July 25, 2011
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Richard P. Dunn II
and Members of the CRA Board
From: Pieter A. Bockweg
Executive Director
Date: July 18, 2011 File: 11-00668
Subject: Resolution Authorizing Renewal of Lease for
CRA Office Space
References:
Enclosures: Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution authorizing the Executive Director
to exercise the CRA's option to renew its lease agreement with Citadel Arena Corporation (`Citadel") for the
CRA's office space at 49 N.W. 5th Street, Miami, Florida, for a period of one year, commencing September 1,
2011, at the rate of $6,250.00 per month plus electricity, or an annual amount of $75,000.00 ($15.00 per square
foot), including taxes, all other utilities, and 16 parking spaces.
The Board of Commissioners, by Resolution CRA-R-03-60, passed and adopted on July 15, 2003, authorized
the execution of a lease agreement between the CRA and 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.
The Board of Commissioners, by Resolution CRA-R-08-0019, passed and adopted on April 28, 2008,
authorized the execution of an amendment to the CRA's existing lease agreement to provide the CRA with the
option to renew the term for five (5) additional one-year periods at a stipulated rent increase of three percent
(3%) per renewal. The CRA is currently scheduled to pay the stipulated rent, commencing September 1, 2011,
of $7,633.34 per month, an annual amount of $91,600.02 ($18.32 per square foot), including taxes, utilities, and
16 parking spaces.
The Executive Director's new negotiated lease agreement would provide the SEOPW and Omni CRA's with a
combined average annual savings of $25,652.36.
JUSTIFICATION:
Pursuant to Florida Statutes Chapter 163.356(3)(d), the Board of Commissioners of the Southeast
Overtown/Park West Community Redevelopment Agency may appropriate to the CRA any amounts deemed
necessary for the administrative expenses and overhead of the agency. The CRA requires office space to carry
out its operations.
Pursuant to Florida Statutes Chapter 163.370(2)(a), the CRA, through its Executive Director, shall have the
power to make and execute contracts, herein the lease agreement, necessary to effectuate the purposes and
provisions of the Omni Community Redevelopment Plan.
FUNDING: $75,000 from SEOPW General Operating Fund, "Rentals and Leases," Account Code No.
10030.920101.544000.0000.00000.
*Florida Power and Light bill averages $314.49.49 monthly.