HomeMy WebLinkAboutCRA-R-11-0040 07-25-2011 LegislationCity of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 11-00668 Final Action Date:
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, 2011, AT THE RATE OF $6,250.00
PER MONTH PLUS THE FLORIDA POWER AND LIGHT UTILITY BILL FOR THE
SPACE OCCUPIED BY THE CRA, OR AN ANNUAL AMOUNT OF $75,000.00
($7.50 PER SQUARE FOOT) PLUS ELECTRICITY, INCLUDING TAXES, ALL
OTHER UTILITIES, AND 16 PARKING SPACES; FUNDS TO BE ALLOCATED
FROM THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY GENERAL
OPERATING FUND, "RENTALS AND LEASES, "ACCOUNT CODE NO.
10030.920101.544000.0000.00000.
WHEREAS, the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Community Redevelopment Agency ("CRA"), 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 Board 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 (5) 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, 2011; and
WHEREAS, Citadel has agreed to renew the lease at a lower rate; 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 REDEVELOPMENT 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, 2011, at the rate of $6, 250.00 per
City of Miami Page 1 of 2 File Id: 11-00668 (Version: 1) Printed On: 7/19/2011
File Number: 11-00668
month plus electricity, or an annual amount of $75,000.00 ($7.50) per square foot), plus
electricity, including taxes, all other utilities, and 16 parking spaces.
Section 3. Funds to be allocated from the SEOPW General Fund, "Rentals and Leases,
"Account Code No. 10030.920101.544000.0000.00000.
Section 4. This resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
GENERAL COUNSEL
City of Miami Page 2 of 2 File Id: 11-00668 (Version: 1) Printed On: 7/19/2011