HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID:
Date:9/13/2011
Commission Meeting Date: 10/27/2011
/l - o o 8/
•
Requesting Department: Public Facilities/ Asset Management
District Impacted: N/A
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance Discussion Item
❑ Other
Subject: Revocable License Agreement ("Agreement") with United Police Federal Credit Union ("Licensee") for
use of office space located at 400 NW 2 Avenue, Miami Florida
Law Department
Matter ID No.
11-1441
Purpose of Item:
A Resolution of the City oftMiami Commission, with attachments, authorizing the City Manager to execute a
Revocable License Agreement ("Agreement"), in substantially the attached form, between the City of Miami
("City") and United Police Federal Credit Union ("Licensee"), for use of approximately 1,136 square feet of
office space and an Automated Teller Machine ("ATM") inside the City of Miami Police Department
Headquarters located at 400 NW 2 Avenue, Miami, Florida, for a monthly use fee of $1,514.66 ($16.00 per
square foot) plus Florida State Use Tax, if applicable, for an initial term of five years, and an option to extend
for five (5) additional one-year renewal option years, with terms and conditions as more specifically set forth
in said agreement.
Background Information:
See Supplemental Sheet.
Budget Impact Analysis
YES Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
ClP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: $16,661.26 (FY 2012)
Final Approvals
(SIGN AND DATE)
CIP N/A Budget
If using or receiving capital funds •
Grants N/A Risk Managem
Purchasing N/A Dept. Directo
Chief �iti�i ✓ '�%�— City Manage
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Subject: Revocable License Agreement ("Agreement") with United Police Federal Credit Union ("Licensee") for
use of office space located at 400 NW 2 Avenue, Miami Florida
Background Information:
The City of Miami ("City") has been negotiating with the United Police Federal Credit Union ("Licensee") for
the continued use of 1,016 square feet of office space on the third floor and 120 square_ feet on the second
floor of office space that includes an Automatic Teller Machine ("ATM") inside the City of Miami Police
Headquarters building located at 400 NW 2 Avenue, Miami, Florida.
It is the desire of the City to provide financial services to City employees, their families and other patrons. City
and Licensee have mutually agreed on a Revocable License Agreement ("Agreement") with the following
terms: 1) a monthly use fee of $1,514.66 ($16.00 per square foot) plus Florida State Use Tax, if applicable; 2)
an Initial Term of five (5) years expiring on September 30, 2016 with an option to extend for five (5) one-year
renewal option years, which may be authorized by the City Manager; and 3) annual increases after the
expiration of the Initial Term at three percent (3%) per renewal period. The revenue generated for Fiscal Year
2012 is based on eleven (11) months beginning November 1, 2011 for a total of $16,661.26. The annual
amount to be generated by this Agreement thereafter is $18,175.92.
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