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Master Report
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File Number: 07-00872
File Type: Resolution
Version: 1 Reference:
File Name: Amending Agreement Staubach
Requester: Department of Public Facilities Cost:
Status: Draft
Controlling Body: City Commission
Introduced: 6/19/2007
Final Action:
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING
THE CITY MANAGER TO AMEND THE AGREEMENT WITH STAUBACH TO PROVIDE FOR A
SCOPE AND COMPENSATION RELATED TO THE REDEVELOPMENT OF THE JAMES L.
KNIGHT CENTER COMPLEX SOUTH SIDE ASSETS ON SUBSTANTIALLY THE TERMS
DESCRIBED IN EXHIBIT"A" HERETO; PROVIDING FOR A FLAT FEE IN THE AMOUNT OF
$250,000 TO STAUBACH IN CONNECTION WITH ANY NEGOTIATIONS FOR A NEW OR
AMENDED LEASE WITH HYATT; PROVIDING FOR A CAP OF $100,000 ON ANY FEE TO BE
PAID TO STAUBACH IN CONNECTION WITH ANY ACQUISITION OF THE UNIVERSITY OF
MIAMI'S LEASEHOLD INTEREST; FURTHER ESTABLISHING THE COMMISSION RELATED
TO A NEW LEASE FOR ANY REDEVELOPMENT OF THE PROPERTY AT A RATE OF 1.5% OF
THE FIRST $15 MILLION OF LAND VALUE USED TO CALCULATE THE GROUND LEASE
PAYMENTS AND 3% OF LAND VALUE IN EXCESS OF $15 MILLION; SAID FEES TO BE PAID
ONLY UPON CONSUMMATION OF THE RESPECTIVE TRANSACTION; WITH FUNDS IN THE
AMOUNT OF $250,000 ALLOCATED UNDER B#70500 AND WITH TERMS AND CONDITIONS
AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A'.
Sponsors:
Notes:
Indexes:
Attachments: 07-00872 Legislation.pdf,07-00872 Exhibit 1.pdf,07-00872 Exhibit 2.pdf,07-00872 Summary Form.pdf,
History of Legislative File
Version: Acting Body: Date: Action: Sent To: Due Date: Return Date: Result:
1 Office of the City 6/27/2007 Reviewed and
Attorney Approved
1 City Commission 7/10/2007 CONTINUED
City of Miami Page 1 Printed on 9/17/2024