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HomeMy WebLinkAboutLegislation-SUBTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. City of Miami Resolution Legislation City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 16232 Final Action Date: A RESOLUTION OF THE MIAMI CITY COMMISSION DIRECTING THE CITY ATTORNEY TO PREPARE, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, A PROPOSED AMENDMENT TO THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CHARTER") FOR CONSIDERATION AT THE GENERAL ELECTION SCHEDULED FOR NOVEMBER 5, 2024, PROPOSING, UPON APPROVAL OF THE ELECTORATE AND OTHER CONDITIONS THE CITY MAY REQUIRE, TO AMEND SECTION 29-C OF THE CHARTER, TITLED "WATSON ISLAND," TO AUTHORIZE THE CITY COMMISSION, BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, TO WAIVE COMPETITIVE BIDDING AND AUTHORIZE THE CITY MANAGER TO NEGOTIATE THE SALE OR LEASE OF +5.4 ACRES OF THAT CERTAIN PROPERTY LOCATED AT 1111 PARROT JUNGLE TRAIL ("PROPERTY") FOR FAIR MARKET VALUE TO ECORESILIENCY MIAMI, LLC, FOR RESIDENTIAL AND COMMERCIAL USES, SUBJECT, BUT NOT LIMITED TO CANCELLATION OF THE EXISTING LEASE, PAYMENTS TO CITY, DEVELOPMENT OF A NEW +13.3-ACRE PUBLIC WATERFRONT PARK ON THE REMAINDER OF PROPERTY AT NO COST TO THE CITY AND PROVISION OF CERTAIN COMMUNITY BENEFITS, WITH RESTRICTIONS, .. REVERSIONS, AND RETENTION BY THE CITY OF ALL OTHER EXISTING CITY RIGHTS, AS MORE PARTICULARLY DESCRIBED HEREINBELOW SPONSOR(S): Commissioner Damian Pardo WHEREAS, the City of Miami ("City") is the owner of that certain tract of land on Watson Island comprising approximately 18.7 acres and located at 1111 Parrot Jungle Trail, Miami, Florida ("Property"); and WHEREAS, ESJ JI Leasehold, LLC ("ESJ") and the City are parties to that certain Lease and Development Agreement, as modified from time to time (collectively, the "Lease") for the Property; and WHEREAS, pursuant to Lease and other entitlements received from the City, ESJ is authorized to develop a theme park, themed hotel, and related retail and entertainment on the Property; and WHEREAS, Ecoresiliency Miami LLC, in collaboration with ESJ (together "Developer Parties"), desire to acquire +5.4 acres of the Property ("Residential Parcel") to develop residential and commercial uses with required parking ("Residential Development"); and WHEREAS, the City and Developer Parties desire to enter into a Conveyance Agreement ("Agreement"), in a form acceptable to the City Attorney, which will allow the sale or lease of the Residential Parcel for fair market value, for construction and operation of the Residential Development subject, but not limited to: City approval; approval of any necessary zoning changes; cancellation of existing Lease; construction of a new public waterfront park on City of Miami Page of File ID: 16232 (Revision: A) Printed On: 7/8/2024 16232 Legislation -SUB THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. File ID: 16232 Enactment Number: the remainder of the Property at no cost to the City; annual and up -front payments to the City; repayment of the existing loan of approximately $32,000,000 due to City and Miami -Dade County and of the existing Ygrene C-Pace loan of approximately $1,200,000 pursuant to the existing Lease; approval by the Florida Board of the Trustees of the Internal Improvement Trust Fund and provision of certain Community Benefits; and WHEREAS, the sale or lease of the Residential Parcel to Ecoresiliency Miami LLC will be subject to other restrictions, reversions, and retention by the City of all other rights; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION 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 as if fully set forth in this Section. Section 2. The City Attorney is directed to prepare a proposed amendment to the Charter of the City of Miami, Florida, as amended ("Charter"), for consideration at the General Election scheduled for November 5, 2024, proposing, upon approval of the electorate, to amend Section 29-C of the Charter, entitled "Watson Island," to authorize the City Commission, by a four -fifths (4/5ths) affirmative vote, to waive competitive bidding and authorize the City Manager to negotiate and execute a Conveyance Agreement between the City and Ecoresiliency Miami LLC, for sale or lease of the Residential Parcel, subject, but not limited to, the aforementioned terms. Section 3. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.' ru 1 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission. City of Miami Page of File ID: 16232 (Revision: A) Printed on: 7/8/2024 SUBSTITUTED City of Miami Legislation Resolution File Number: 16232 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.co Final Actio ate: A RESOLUTION OF THE MIAMI CITY COMMISSION DIRECTING THE CITY ATTORNEY TO PREPARE, IN A FORM ACCEPTABLE TO THE CITY ATT' ' NEY, A PROPOSED AMENDMENT TO THE CHARTER OF THE CITY OF MIAM LORIDA, AS AMENDED ("CHARTER") FOR CONSIDERATION AT THE GENE' , ELECTION SCHEDULED FOR NOVEMBER 5, 2024, PROPOSING, UPON APP' OVAL OF THE ELECTORATE AND OTHER CONDITIONS THE CITY MAY REQU E, TO AMEND SECTION 29-C OF THE CHARTER, TITLED "WATSON ISLAND " 0 AUTHORIZE THE CITY COMMISSION, BY A FOUR -FIFTHS (4/5THS) AFFI ATIVE VOTE, TO WAIVE COMPETITIVE BIDDING AND AUTHORIZE THE CIT MANAGER TO NEGOTIATE THE CONVEYANCE OF 5.4 ACRES OF THA ' CERTAIN PROPERTY LOCATED AT 1111 PARROT JUNGLE TRAIL ("PROPE ") FOR FAIR MARKET VALUE TO ECORESILIENCY MIAMI, LLC, FOR RESI ' NTIAL AND COMMERCIAL USES, SUBJECT, BUT NOT LIMITED TO, COMPLE IN OF PROPERTY APPRAISALS, CANCELLATION OF THE EXISTIN a _EASE, PAYMENTS TO CITY, AND DEVELOPMENT OF A NEW 13.3 ACRE P LIC WATERFRONT PARK ON THE REMAINDER OF PROPERTY AT NO COST T HE CITY, WITH RESTRICTIONS, REVERSIONS, AND RETENTION BY THE C Y OF ALL OTHER EXISTING CITY RIGHTS, AS MORE PARTICULARLY DES?'IBED HEREINBELOW. WHEREAS, the City of Miami ("City" is the owner of that certain tract of land on Watson Island comprising approximately .7 acres and located at 1111 Parrot Jungle Trail, Miami, Florida ("Property"); and WHEREAS, ESJ JI Leaseh certain Lease and Development modified, collectively, the "Lea ) WHEREAS, pursua ESJ is authorized to dev entertainment on the P , LLC ("ESJ") and the City are parties to that reement, as modified from time to time (as so for the Property; and to Lease and other entitlements received from the City, p a theme park, themed hotel, and related retail and perty; and WHEREAS coresiliency Miami LLC, in collaboration with ESJ (together "Developer Parti=.'), desires to acquire 5.4 acres of the Property ("Residential Parcel") to develop resi• -ntial and commercial uses with required parking and accessory retail ("Residential !evelopment"); and EREAS, the City and Developer Parties desire to enter into a Conveyance Agree ► nt ("Agreement"), in a form acceptable to the City Attorney, which will allow the cony- ance of the Residential Parcel for fair market value, for construction and op= ation of the Residential Development subject, but not limited to: City approval; c' pletion of Property appraisals; approval of any necessary zoning changes; ancellation of existing Lease; construction of a new public waterfront park on the remainder of the Property at no cost to the City; annual and up -front payments to the City; repayment of the existing loan of approximately $32,000,000 due to City and Miami -Dade County and of the existing Ygrene C-Pace loan of approximately SUBSTITUTED $1,200,000 pursuant to the existing Lease; and approval by the Florida Board of the Trustees of the Internal Improvement Trust Fund through a modification of the existing deed restrictions, including termination of the existing reverter and release of the existing oil, gas and mineral reservations as to the Residential Parcel; and WHEREAS, the conveyance of the Residential Parcel to Ecoresiliency Miami LLC will be subject to other restrictions, reversions, and retention by the City of all other rights; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to thi esolution are adopted by reference and incorporated as if fully set forth in this Sectio Section 2. In accordance with Section 2-64 of the Code of the ' y of Miami, Florida, the City Attorney is directed to prepare a proposed amendm t to the Charter of the City of Miami, Florida, as amended ("Charter"), for consideratioat the General Election scheduled for November 5, 2024, proposing, upon appr. al of the electorate, to amend Section 29-C of the Charter, entitled "Watson Island," t. uthorize the City Commission, by a four -fifths (4/5ths) affirmative vote, to waiv' competitive bidding and authorize the City Manager to negotiate and execute a Co 'eyance Agreement between the City and Ecoresiliency Miami LLC, for conveyance of e Residential Parcel subject, but not limited to, the aforementioned terms. Section 3. This Resolution shall become e ' ctive immediately upon its adoption and signature of the Mayor.' APPROVED AS TO FORM AND CORRECT ESS: 1 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.