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Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 06-00239 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE AN
INTERLOCAL AGREEMENT WITH MIAMI-DADE COUNTY, SUBJECT TO THE
APPROVAL OF THE MIAMI CITY COMMISSION, TO ESTABLISH THE TERMS AND
CONDITIONS FOR THE CITY OF MIAMI'S ASSUMPTION OF SEVENTY PERCENT
(70%) OF THE OUTSTANDING PRINCIPAL BALANCE AND FUTURE INTEREST
ON THE SECTION 108 LOAN, FROM MIAMI-DADE COUNTY TO PARROT JUNGLE
AND GARDENS OF WATSON ISLAND, INC.
WHEREAS, on January 9, 2001, Miami -Dade County ("County") made a loan to Parrot Jungle
and Gardens of Watson Island ("Parrot Jungle"), in the original principal amount of Twenty -Five Million
Dollars ($25,000,000), to facilitate the financing of the development of the Parrot Jungle and Gardens
of Watson Island Project ("Loan"); and
WHEREAS, the City of Miami ("City") and the County entered into a Joint Participation Agreement
dated September 9, 1998, in which the City agreed to replace the County as the guarantor of eighty
percent (80%) of the Loan, upon satisfaction of certain conditions set forth therein, including the
condition that the Loan must be current and no event of default is in existence; and
WHEREAS, the County has requested the City to assume eighty percent (80%) of the Loan
notwithstanding that it is not current; and
WHEREAS, the outcome of litigation to enforce the Joint Participation Agreement is uncertain,
and the County and the City, wishing to avoid litigation, have agreed that the City will assume seventy
percent (70%) of the outstanding principal of the Loan, and reimburse the County seventy percent
(70%) of the amounts paid by the County to the United Stated Department of Housing and Urban
Development ("HUD"); and
WHEREAS, the City has requested the County to take certain actions with respect to the Omni
and Southeast Overtown Park West Community Redevelopment Agency ("SEOPW CRA"), as more
specifically described in a Resolution being submitted simultaneously herewith, and to extend the
period of time for the development of certain City -owned real property in the SEOPW CRA in
consideration of the City's agreement to assume seventy percent (70%) of the Loan;
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 Manager is authorized{1} to negotiate and execute an Interlocal Agreement
with the County, subject to the approval of the City Commission, to establish the terms and conditions
City of Miami Page 1 of 2 File Id: 06-00239 (Version: 1) Printed On: 9/16/2024
File Number: 06-00239
for the City's assumption of seventy percent (70%) of the outstanding principal balance and future
interest on the Loan, in substantially the terms, and subject to the conditions, as set forth in
Attachment "A," attached and incorporated.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor. {2}
APPROVED AS TO FORM AND CORRECTNESS:
JORGE L. FERNANDEZ
CITY ATTORNEY
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including but not limited to those prescribed by applicable City
Charter and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten 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 2 of 2 File Id: 06-00239 (Version: 1) Printed On: 9/16/2024