HomeMy WebLinkAboutPre-ResolutionsApproved Mayor Agenda Item No.
Veto
Override
RESOLUTION NO. R- 12
RESOLUTION APPROVING FIRST AMENDMENT TO
INTERLOCAL AGREEMENT BETWEEN MIAMI-
DADE COUNTY AND CITY OF MIAMI REGARDING
ANNUAL DISTRIBUTION OF CONVENTION
DEVELOPMENT TAX PROCEEDS; AUTHORIZING
COUNTY MAYOR OR COUNTY MAYOR'S
DESIGNEE .TO EXECUTE. AND DELIVER FIRST
AMENDMENT; AND APPROVING ANNUAL GRANT
BY OMNI COMMUNITY REDEVELOPMENT
DISTRICT TO CITY OF MIAMI FROM LEGALLY
AVAILABLE CRA REVENUES IN CONNECTION
WITH CERTAIN CITY BONDS
WHEREAS, Miami -Dade County ("County") and the City of Miami ("City")
entered into an Interlocal Agreement dated July 1, 2009 ("Interlocal") with respect to the
distribution by the County of the convention development taxi ("CDT") levied at the rate
of three percent of the total consideration charged for leasing or letting transient rental
accommodations within the County's boundaries ("CDT Receipts") pursuant to Section
212.0305(4)(b), Florida Statutes, Section 29-60 of the Code of Metropolitan Dade
County, Florida, and Ordinance No. 83-91 enacted by the Board of County
Commissioners of Miami -Dade County (the "Board") on June 5, 1984; and
WHEREAS, the County has pledged the CDT Receipts to certain County bonds
("County CDT Bonds") and eligible projects, as set forth in Exhibit "A" to the Interlocal,
which have priority over any future disposition or use of the CDT Receipts ("County
Obligations"); and
WHEREAS, pursuant to the Interlocal, the County dstributes, after the County
satisfies all of its County Obligations, available CDT Receipts to the City in increasing
Agenda Item No. -
Page No. 2
amounts beginning with $2 million annually in 2009, $3 million annually from 2010 to
2015, $4 million annually from 2016 to 2020, $5 million annually from 2021 to 2025, $6
million annually from 2026 to 2030, and $8 million annually from 2031 to 2038, from
CDT Receipts ("Interlocal Payments"); and
WHEREAS, Exhibit "A" to the Interlocal has no provision that allows the
County to refinance the County CDT Bonds to achieve an interest cost savings; and
WHEREAS, the County and City wish to enter into a First Amendment to the
Interlocal Agreement to amend Exhibit "A" to permit the refunding of the County CDT
Bonds as a prior County Obligation in order to reduce the amount of CDT Receipts that
will be necessary to satisfy the County's Obligations and increase the CDT Receipts
available to the County to make the Interlocal Payments to the City; and
WHEREAS, this Board wishes to authorize the County Mayor or County
Mayor's designee ("County Mayor") to execute and deliver a First Amendment to the
Interlocal Agreement; and
WHEREAS, in consideration of the City's agreement to amend the Interlocal, the
Board wishes to approve an annual grant by the Omni Redevelopment District to the City
from legally available CRA revenues in amount equal to debt service on certain City
bonds/debt to be issued to fund the City's financial obligation with respect to the. Tunnel
project;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that
Agenda Item No.
Page No. 3
Section 1. The First Amendment to the Interlocal Agreement in the form
attached as Attachment 1 to this Resolution is approved. and its execution and delivery
by the County Mayor on behalf of the County is authorized and approved.
Section 2. The Board approves an annual grant from Fiscal Year 2012
through Fiscal Year 20303 by the Omni Community Redevelopment Agency ("CRA") to
the City from legally available CRA revenues in an amount equal to the principal and
interest due annually on bonds/debt issued by the City to fund its $50,000,000
contribution to the Tunnel project pursuant to the "Interlocal Agreement Between The
City of Miami, Miami -Dade County, Southeast Overtown Park West CRA and Omni
CRA to Provide Funding for Major Projects for the Benefit of All Parties" (referred to as
the Global Agreement) dated December 31, 2007. The grant shall be subordinate to the
CRAs' annual payment to the County pursuant to the "First Amendment to Interlocal
Cooperation Agreement dated June 24, 1996 by and among Miami -Dade County, the
City of Miami and the Community Redevelopment Agency for the Omni District".
The foregoing resolution was sponsored by Commissioner . It was
offered by Commissioner
seconded by Commissioner
vote, the vote was as follows:
, who moved its adoption. The motion was
and upon being put to a
J
Audrey
Bruno A. Barreiro
Esteban L. Bovo, Jr.
Sally A. Heyman
Jean Monestime
Rebeca Sosa
Xavier L. Suarez
oe A. Martinez, Chairman
M. Edmonson, Vice -Chairwoman
Lynda Bell
Jose "Pepe" Diaz
Barbara J. Jordan
Dennis C. Moss
Sen. Javier D. Souto
Agenda Item No.
Page No. 4
The Chairperson thereupon declared the resolution duly passed and adopted this
, 2012. This resolution shall become effective ten (10) days after the date of its
adoption unless vetoed by the Mayor, and if vetoed, shall become effective only upon an
override by this Board.
Approved by County Attorney as
to form and legal sufficiency.
MIAMI-DADE COUNTY, FLORIDA
BY ITS BOARD OF
COUNTY COMMISSIONERS
HARVEY RUVIN, CLERK
By:
Deputy Clerk
2-3rs-o l
r 3-0 I
• INTERLOCAL AGREEMENT
DATED '3 U I / 2009 , 2009
BETWEEN MIAMI-DADE COUNTY AND
THE CITY OF MIAMI
This Interlocal Agreement made this le day of 3ii)y , 2009 (the
"Interlocal) by and between Miami -Dade County, a political subdivisioi of the State of Florida (the
"County") and the City of Miami, a municipal corporation organized under the laws of the State of
Florida (the "City") regarding the use and disposition of a portion of the Convention Development
Tax as defined in this Interlocal Agreement.
WITNESSETH:
WHEREAS, the County, pursuant to Section 212.0305(4)(6), Florida Statutes (the "Act"),
Section 29-60 of the Code of Metropolitan Dade County, Florida, and Ordinance No. 8391 enacted
by the Board of County Commissioners of Miami -Dade County (the "Board") on June 5, 1984,
imposed a levy on the exercise within its boundaries of the is able privilege of leasing or letting
transient rental accommodations at the rate of three percent of the total consideration charged for
such accommodations (the "Convention Development Tax" or. "CDT"); and
WHEREAS, under Section 212.0305(b)2.d, Florida Statutes, the County has the statutory
responsibility to dete,rnine the use of the CDT Receipts (as defined below); and
WHEREAS, the County and City along with the Miami Sports and Exhibition Authority
("MSEA") previously entered into an Interlocal Cooperation Agreement dated December 14, 2004
(the "Prior Interlocal") regarding the disposition of the CDT Receipts, which shall terminate in
accordance with the terms of this Agreement; and
WHEREAS, the County has pledged the CDT Receipts to certain County bonds ("County
CDT Bonds") and eligible projects, as set forth on Exhibit "A" to this Interlocal, which have priority
over any future disposition or use of the CDT Receipts; and
WHEREAS, the County intends to issue additional County CDT Bonds to satisfy its
obligation to provide certain funds for the construction of the Ballpark (defined below) and related
public infrastructure (the 'County CDT Ballpark Bonds") which will also have a priority over any
future disposition or use of the CDT Receipts as set forth in Exhibit "A"; and
WHEREAS, the County and City wish to enter into this Interlocal for the purpose of setting
forth the terms and conditions upon which the County shall transfer a portion of the CDT Receipts
to the City, which will be subordinate to the obligations set forth on Exhibit "A", but shall have
priority over all other obligations securedby the CDT. Receipts to be used by the City to satisfy the
City Obligations (defined below),
NOW, THEREFORE, the County and the City agree as follows:
A. DEFINITIONS
(1) "Ballpark" shall mean the major league baseball facility to be constructed at the former
Orange Bowl site for use by the Florida Marlins.
"Ballpark Project" shall mean the Ballpark, the City Parking, and associated infrastructure
to be developed at the former Orange Bowl site.
"Board" shall mean the Board of County Commissioners of Miami -Dade County.
(2)
(3)
(4) "CDT Receipts" shall mean the revenues collected annually (excluding any carryover
from prior year collections) by the County of the levy on the exercise within its
boundaries of the taxable privilege of leasing or letting transient rental accommodations at
the rate of three percent (3%) of the total considerationcharged therefore as currently
authorized pursuant to Section 212.0305(4)(b), Florida Statutes (net of Tax Collector
administrative costs for local administration pursuant to Section 212.0305(5)(6)5, Florida
Statutes).
"City Commission" shall mean the City Commission of the City of Miami.
(5)
(6) "City Obligations" shall mean all financial obligations of the City under the Stadium
Agreements, including the obligation to provide certain funds for the construction of
public infrastructure and City Parking, including City Parking Bonds.
(7) "City Parking" shall mean approximately 5,500 parking spaces which will be available to the
Florida Marlins, LP or its affiliates and their patrons for parking in accordance with the
City Parking Agreement (described below).
(8) "City Parking Bonds" shall meamthe•taxable or tax-exempt,debt issued by the City, or any
other governmental entity on behalf of the City, and secured, in whole or in part, by the
Current Share in an aggregate amount sufficient (taking into account issuance costs,
required reserves and capitalized interest during construction) to fund $60 million of the
City. Parking design and construction costs. The City Parking Bonds shall not be deemed
to include any bonds issued on parity or on a subordinated basis to fund design and
construction costs for the City Parking in excess of $60 million.
"Construction Administration Agreement" shall mean the agreement by and among the
County, the City and Marlins Stadium Developer, LLC dated April 15, 2009.
(10) "Current Share" shall mean an amount equal to the annual CDT payments set forth on the
attached Exhibit "B" from the County to the City solely from CDT Receipts.
(1 ]) "Stadium Agreements" shall mean collectively the Construction Administration
Agreement, the Operating Agreement, the Assurance Agreement, the NonRelocation
Agreement and the City Parking Agreement entered into by and among the County, the
City, Marlins Stadium Developer, LLC, Marlins Stadium Operator, LLC, and Florida
Marlins, L.P., as the case may be, with respect to the development, operation and
management of the Ballpark Project.
(12) "Team and Team Affiliates" shall mean Florida Marlins, L.P., Marlins Stadium
Developer, LLC, and Marlins Stadium Operator, LLC.
(9)
2
B. TERMINATION OF PRIOR INTERLOCAL
The County and the City agree that the Prior Interlocal shall terminate upon the receipt by
the parties of evidence from MSEA that it has terminated the Prior Interlocal and the
approval, execution and delivery of this Interlocal by the parties.
C. PRIORITY LIEN
It is recognized and the parties agree that the outstanding County CDT Bonds, the County
CDT Ballpark Bonds to be issued and the obligations of the County secured by a pledge of
the CDT Receipts, all as specifically set forth in Exhibit "A", which Exhibit "A" is
incorporated in this Interlocal by reference, shall have a first claim on such CDT Receipts
prior to any other payments required under this Interlocal. It is agreed by the Parties that
after the obligations of Exhibit "A" have been satisfied, the payments required under this
Interlocal shall have a priority lien on the CDT Receipts ahead of all other obligations
secured by the CDT Receipts.
D. DISPOSITION OF THE CDT RECEIPTS
1. Subsequent to the termination of the Prior Interlocal and prior to July 1, 2009, the County
shall pay to the City solely from the CDT Receipts an amount equal to $2 million per
year for a term commencing upon the effective date of this Interlocal pursuant to Section
B above and ending on July 1, 2009 for use by the City solely to fund CDT -eligible
projects in accordance with State law.
2. If the Ballpark Project moves forward as evidenced by approval and execution of the
Stadium Agreements and such agreements are not terminated by the parties in accordance
with Sections 11.1.1 or 11.1.2 of the Construction Administration Agreement„
commencing on July 1, 2009 and ending on June 30, 2039, the County shall remit the
CurrentShareto the,City-imaccordancewith.Section 7.
3. If the Stadium Agreements are terminated in accordance with their terms prior to the
issuance of the City Parking Bonds, the County shall no longer be obligated to pay the
City the Current Share, as set forth in subsection (2) above, and the City shall have no
obligation to issue the City Parking Bonds. Instead, the County shall pay to the City
solely from the CDT Receipts an amount equal to $2 million per year commencing on the
date first day of the month following the termination date of the Stadium Agreements and
ending on September 30, 2020 for use by the City solely to fund CDT -eligible projects in
accordance with State law. Notwithstanding the foregoing, any payments made by the
County to the City of the Current Share that are in excess of those payments due pursuant
to this Section shall be credited against future payments due from the County to the City
until credited in full. Once all future payments are credited in full, if any payments made by
the County to the City of the Current Shareexceed those payments due pursuant to this
Section, the City shall reimburse the County such excess amount within 30 days' written
notice from the County that such payment is due.
4. If the Stadium Agreements are terminated in accordance with Sections 11.1.1, 11.1.2 or
11.1.4 of the Construction Administration Agreement to the extent the default is caused
solely by the Team and the Team Affiliates after the issuance of debt by the City to secure
the City Obligations ("City Debt"), the City shall use all bond proceeds and interest
eamings on deposit in any funds or accounts established to secure the City Debt, to defease
and/or redeem the City Debt on the first call date. If those amounts are insufficient to call
3
and redeem the City Debt (including payment of any redemption premium) on such date,
the County shall be obligated to annually remit the Current Share to the City until the City
is reimbursed for any deficit attributed to $60 million of the City Debt after the City
defeased all the City Debt, provided, however, the County's obligation to remit the Current
Share to the City shall cease on June 30, 2039. Notwithstanding the foregoing, if the City
elects to recover and is awarded damages against the Team and the Team Affiliates for the
amount the County is obligated to remit annually to the City pursuant to the preceding
sentence, the County shall not be obligated to pay the City the Current Share upon the City
's collection of such damages from the Team or the Team Affiliate, but shall instead pay to
the City solely from the CDT Receipts an amount equal to $2 million' per year commencing
on the date of collection of such damages and ending on September 30, 2020 for use by the
City solely to fund CDT -eligible projects in accordance with State law.
5. If the Stadium Agreements are terminated in accordance with Section 11.1..4 of the
Construction Administration Agreement because the County is a Defaulting Party after the
issuance of the City Debt, the City shall use all bond proceeds and interest earnings on
deposit in any funds or accounts established to secure the City Debt to redeem the City
Debt on the first call date. To the extent those amounts are insufficient to call and redeem
the City Debt (including payment of any redemption premium) on such date, the County
shall be obligated to annually remit the Current Share to the City until the City is
reimbursed for such deficit, provided, however, the County's obligation to remit the Current
Share to the City shall cease on June 30, 2039. Notwithstanding the foregoing, if the City
elects to recover and is awarded damages against the County which include the amount the
County is obligated to remit annually to the City pursuant to the preceding sentence, the
County shall not be obligated to pay the City the Current Share upon the City's collection of
such damages from the County, but shall instead pay to the City solely from the CDT
Receipts an amount equal to $2 million per year commencing on the date of collection of
such damages and ending on September 30, 2020 for use by the City solely to fund CDT -
eligible projects in accordance with State law.
6 If the Stadium Agreements are terminated in accordance with Section 11.1.4 of the
Construction Administration Agreement because of a default (failure to fund) by the City
on or after July 1, 2009, the County shall no longer be obligated to pay the City the
Current Share and the City shall be obligated to reimburse the County for all payments
from the County to the City in excess of $2 million since July 1, 2009. After the County
has defeased the County CDT Ballpark Bonds and paid all related costs and expenses in
connection with such defeasance, the County shall pay to the City solely from the CDT
Receipts an amount equal to $2 million per year ending on September 30, 2020 for use by
the City solely to fund CDT -eligible projects in accordance with State law.
7. The County shall pay the annual payments set forth in subsections (1), (2), (3), (4), (5), or
(6) above, as the case may be, to the City in equal monthly installments from the CDT
Receipts received by the County that month, .until .the .annual payment is paid in full.. If
the CDT Receipts received by the County in any year are insufficient to pay the Current
Share for that year (each such deficiency, a "Shortfall"), and if in subsequent years the
amount of CDT Receipts exceed the Current Share for that year (each such excess amount,
a "Surplus"), then the County shall remit such Surplus to the City up to the amount of the
Shortfall. In the event the amount of a Surplus in any year is insufficient to pay the
Shortfall for the immediately preceding year, then the County shall be obligated to
continue to remit any Surplus, in any subsequent year, until all Shortfalls has been paid in
full. Such amounts payable for the Shortfall shall be cumulative from year to year.
4
8. The City agrees that the Current Share shall first be pledged to fund the City's Parking
Obligation. To the extent the Current Share exceeds the required amounts necessary to pay
debt service on the City Parking. Bonds, the City shall use such excess to fund CDT -
eligible projects in accordance with State law and in accordance with the terms of this
Interlocal.
9. Other than as previously authorized by the Board or as set forth in this Section D, the One -
Third CDT share shall be disbursed in accordance with the Act, as determined by the
County, for projects qualified pursuant to the Act and located solely within the most
populous municipality in the County.
E. AUDIT RIGHTS
The County shall have the right, without limitation, but not the obligation, to separately
audit all accounts, books, records, and the supporting documentation related to the CDT
Receipts remitted either directly to the City and the expenditure of any funds on the, the
City Parking, debt service on the City Parking Bonds or any other CDT -eligible projects
in accordance with State law. Such auditor may be engaged to investigate, inspect and
review the operations and activities of the City in connection with this Interlocal. The
County shall be responsible for the cost of any separate audits performed at its request.
The City shall use its best efforts in assisting the auditor in its duties. Nothing in this
Interlocal shall impair the County's existing rights to audit or to investigate past and future
acts. Any rights that the County has under this section shall not be the basis for any liability
to the County from the City or third parties for such investigation or for the failure to have
conducted such investigation.
F. ENTIRE AGREEMENT
This Interlocal constitutes the sole and only agreement of the County and the City with
respect to the CDT Receipts arid correctly sets forth the rights, duties and obligations of each
to the other as of its date. Any prior agreements (including the Prior Interlocal), promises,
resolutions, negotiations, or representations not expressly set forth in the Interlocal are of no
force and effect.
G. AMENDMENTS
No amendments to this Interlocal shall be binding on the parties unless in writing and
executed by the parties.
CITY OF I, FLORIDA MIAMI-DADE COUNTY, FLORIDA
By:
PEDROZ IERNANDEZ
City Manager
City of Miami
5
By:
GEORG. BURGESS
County Manager
Miami -Dade County
A 11 EST:
By:
APPROVED AS TO FORM
AND CORRECTNESS:
6
Ay
p 3?!►gtbe Board
��Ofl\
rtta
APPROVEb AS TO FORM
AND LEGAL SUFFICIENCY:
CDT Priority'Commitments
Current Bonds Amount
Series 1996 PAC and Series 1997 PAC $368,757,228
Series 2005A and 2005E $184,312,247
Existing Obligations
Miami Beath
American Airlines Arena
Cultural Grants
Performing Arts Center Trust
South Miami -Dade Cultural Center
Projects to be Financed (New Bonds)
Ballpark
(outstanding principal amount)
$4500,000` Annual Payment
$6,400,000 Annual Payment (increases to $6.5 million in 2022-28)
$1,000,000 Annual Payment
$1 „700,000 Annual Payment (increases to $2 million in 2012)
$770,000 Annual Payment
$81 million, but not
to exceed $100
million
Exhibit A
Unused authorization shall be terminated after issuance of bonds
`Pursuant to Interlace, Cooperation Agreement with the City of Miami Beach dated June 21, 1996, as amended, the annual payment of
$4,500,000 may be increased if CDT Receipts exceed a threshold that is greater than anticipated/projected CDT Receipts.
1,1
"Exhibit B"
Annual CDT Payments to the City
2009 2,000,000
2010 3,000,000
2011 3;000,000
2012 3,000,000
2013 3,000,000
2014 3,000,000
2015 3,000,000
2016 4,000,000
2017 4,000,000
2018 4,000,000
2019 4,000,000
2020 4,000,000
2021 5,000,000
2022 5,000,000
2023 5,000,000
2024 5,000,000
2025 5,000,000
2026 6,000,000
2027 6,000,000
2028 6,000,000
2029 6,000,000
2030 6,000,000
2031 8,000,000
2032 8,000,000
2033 8,000,000
2034 8,000,000
2035 8,000,000
2036 8,000,000
2037 8,000,000
2038 8,000,000
City of Miami
Legislation
Resolution: R-09-0132
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 09-00134
Final Action Date:3/19/2009
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO: (I) EXECUTE AN INTERLOCAL
AGREEMENT WITH MIAMI-DADE COUNTY ("COUNTY"), IN SUBSTANTIALLY
THE ATTACHED FORM, TO INCREASE THE AMOUNT OF CONVENTION
DEVELOPMENT TAX ("CDT") FUNDS PAYABLE BY THE COUNTY TO THE CITY
OF MIAMI ("CITY") IN CONNECTION WITH THE DEVELOPMENT OF THE
PARKING FACILITIESON THE FORMER ORANGE BOWL SITE (THE "NEW CDT
AGREEMENT") AND (II) TERMINATE THE INTERLOCAL COOPERATION
AGREEMENT DATED DECEMBER 14, 2004, BY AND AMONG THE COUNTY,
THE CITY, AND THE MIAMI SPORTS AND EXHIBITION AUTHORITY ("MSEA"),
APPROVED BY THE CITY COMMISSION PURSUANT TO RESOLUTION NO.
04-0750, ADOPTED NOVEMBER 18, 2004, ("MSEA CDT INTERLOCAL"),
PROVIDED THAT THE TERMINATION OF THE MSEA CDT INTERLOCAL SHALL
BE SUBJECT TO THE CITY AND. THE COUNTY ENTERING INTO THE NEW CDT
AGREEMENT AND THE EFFECTIVE DATE OF TERMINATION SHALL BE NO
EARLIER THAN JUNE 30, 2009.
WHEREAS, pursuant to an Interlocal Cooperation Agreement dated December 14, 2004 (the
"MSEA CDT Interlocal") among Miami -Dade County ("County"), the City of Miami ('City") and the
Miami SPdrts-and"ExFiibitlon Authd7ity ("MSEA"), the County pays to the City, from Convention
Development Tax ("CDT") revenues collected by the County, the sum of $2 million annually; and
WHEREAS, the County and the City have agreed to enter into an Interlocal Agreement, in
substantially the attached form, to increase the amount of the CDT funds payable by the County to
the City to an amount sufficient to satisfy the City's obligation to construct the Parking Facilities
related to the Baseball Stadium project on the former Orange Bowl site (the "New CDT Interlocal");
and
WHEREAS, it is necessary to terminate the MSEA CDT Interlocal in order to give effect to the
New CDT Interlocal;
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 execute the New CDT Interlocal, and terminate
the MSEA CDT Interlocal; provided that the termination of the MSEA CDT Interlocal shall be subject
to the City and the County executing the New CDT Interlocal and further provided that the effective
Cily ofJl;auii
Pagel of ° Pr;nted:On:=SL12/2D09
File Number: 09-00134
Enactment Number: R-09-01 +2
date of termination shall be no earlier than June 30, 2009.
Section 3. The City Manager is further authorized{2} to execute such other documents as may be
•needed to implement' this resolution, subject to the approval of the City Attorney.
Section 4. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{3}
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} 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.
{3} 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.
__...
C'i!p of Puke2nf ,. Printed On: S/12/2009_
bliauii
INTERLOCAL AGREEMENT BETWEEN THE CITY OF MIAMI, MIAMI-DADE
COUNTY, SOUTHEAST OVERTOWN PARK WEST CRA AND OMNI CRA TO
PROVIDE FUNDING FOR MAJOR PROJECTS FOR THE BENEFIT OF ALL
PARTIES
This Agreement, dated as of December 3", 2007, is made and entered
into by the City of Miami (the "City"), Miami -Dade County (the "County"),
. Southeast Overtown Park West Community Redevelopment Agency (the
"SEOPW CRA°) and the Omni Community Redevelopment Agency (the "Omni
CRA"). The SEOPW CRA and the OMNI CRA are sometimes referred to herein,
collectively, as the "CRAB".
RECITALS
A. The City, the County and the CRAs (collectively, the "Parties")
acknowledge that the following projects (collectively, the "Projects") are of great
benefit to the CRAs and the community in general, for reasons which include the
reasons set forth below, and are supportive of said Projects:
1. Performing Arts Center (the "PAC"): This project has been, and
continues to be a catalyst in attracting development and private
investment within the OMNI CRA area as well as downtown Miami.
2. Port Tunnel (the "Port Tunnel"): This project consists of
widening of the MacArthur Causeway Bridge, construction of a tunnel
between Watson Island and Dodge Island and roadway improvements on
. Watson Island and the Port of Miami. It will ensure the economic viability
andgrowth of-the_-,P..,ort-of-Miami, the second most important economic
generator in the region accounting for over 17,000 jobs and $2.2 billion
annually in total economic benefit to the City and- its residents. Further,
the Tunnel Project will reduce congestion and improve the quality -of -life of
the Omni CRA and SEOPW areas as well as downtown Miami by
removing over 5,000 port -bound trucks per day from area streets.
3. Museum Park Project (the "Museum Park"): Museum Park is the
City of Miami's urban redesign vision for the park now known as
Bicentennial Park, a 29-acre property on Biscayne Bay which serves and
will serve the residents of the OMNI CRA, the SEOPW CRA and well as
the entire region. This project includes a premier public park anchored by
landmark new facilities for the Miami Art Museum (MAM) and the Miami
Museum of Science and Planetarium(MMSP), which -will include a branch
of the Historical Museum of Southern Florida. The building will be
designed around energy -saving, sustainable materials and techniques.
The goals of Museum Park include the restoration of the park's waterfront
land to public use, revitalization of the OMNI CRA, the SEOPW CRA and
surrounding neighborhoods, the building of a first-class educational and
cultural resource for the region's residents and visitors, and will strengthen
the economy by contributing to tourism, the region's number one industry.
Studies indicate that over the course of their first decade, MAM and the
MMSP at Museum Park will have a $2 billion economic impact and will
create 1,700 jobs in the community annually.
4. Streetcar Project (the "Streetcar"): The Streetcar will provide
an energy -efficient and convenient alternative mode of transportation
connecting the City's. most densely populated and urbanized areas,
including Downtown, Overtown, Omni, Wynwood/Edgewater, Midtown,
Design District and the Civic Center/Health District. The Streetcar service
will promote mass transit use and connect with Miami -Dade Transit
(Metromover; Metrorail and Metrobus). The Streetcar circulator will
substantially address the City's need to comply with State Bill 360, the
Growth Management Act as a multi -modal project improving mobility and
meeting transportation concurrency.
5. Orange Bowl Stadium. (the "New Orange Bowl"): It is
contemplated by the City that the New Orange Bowl may be redeveloped
into a soccer stadium for a Major League Soccer franchise. It will also
include parking, and may include retail, entertainment, park and open
spaces and related amenities. The New Orange Bowl will be designed
and developed to be compatible with the Baseball Project aesthetically
and operationally. This project is intended to bring economic growth and
vibrancy to the heart of Little Havana and surrounding corridors and
neighborhoods. Funding for and construction of a New Orange Bowl will
not commence until Major League Soccer awards Miami an expansion
franchise.
6. Baseball Project (the "Baseball Project"): The Orange Bo.wl
Site will be developed to include a nevi $515 million first class retractable
roof Major League Baseball stadium for theuse of the Florida Marlins.
City and the County have been working together to bring professional
baseball to the City of Miami and the availability of the Orange Bowl Site
offers the perfect opportunity to combine professional baseball with the
New Orange Bowl at a completed redeveloped Orange Bowl site with
parking, retail, entertainment and related amenities: A major league
baseball team will benefit the entire community and region, by, among
other things, creating jobs and attracting tourism, providing both a direct
and indirect increase in tax revenue. The Baseball Project will serve as
an engine for.economic development creating 250 full time and 2,000 part
time jobs. In addition, construction of the project is expected to generate
approximately 1,700 high paying jobs during the construction period of
approximately 29 months.
7. Parking: The Orange Bowl site"will be redeveloped to include at
least 6,000 parking spaces to be funded by the City to support the
Baseball Project and the New Orange Bowl which will be available for the
opening of the Baseball Project. These parking structures are necessary
and will benefit the entire community by supporting the economic
development created by the aforementioned uses of the Orange Bowl site.
B. The Parties agree that the development of the Projects requires the
cooperation and commitment of all of the Parties to assist in identifying funding
sources, reallocating the use of existing revenues, including TIF Revenues, and
expanding the boundaries and extending the terms of the CRAs, all as
hereinafter provided.
NOW, THEREFORE, in consideration of the foregoing, the Parties agree
as follows:
1. Recitals: The recitals are true and correct and are hereby
incorporated into and made a part of this Agreement.
2. Agreement: The Parties agree to take all action necessary to
accomplish the purposes of this Agreement, as hereinafter set forth, in a prompt
and efficient manner. The parties acknowledge that the process of expanding
the boundaries and extending the term of the OMNI and SEOPW CRAs, include
the preparation and adoption of findings of necessity for the expanded areas and
amendments to the corresponding redevelopment plans of the CRAs. The
parties agree to cooperate and act expeditiously and in good faith in
implementing the steps necessary to accomplish this purpose.
3. The OMNI CRA: The City, the County and the OMNI CRA agree
to approve and execute an amendment (the "First•Amendment to OMNI CRA
Interlocal') in substantially the form attached hereto as Exhibit "A". The First
Amendment to the OMNI CRA Interlocal provides the process the City, the OMNI
CRA. and the County will follow to extend the term of the OMNI CRA through
2030 and expand its boundaries to include Watson Island and Bicentennial Park.
The City, the County and the OMNI CRA agree to cooperate and act
expeditiously so as to present the finding of necessity and the amendment to the
redevelopment plan to the Board of County Commissioners within 9 months
following the execution of the First Amendment to OMNI CRA Interlocal_
•
The City and the OMNI CRA agree to amend the redevelopment plan to
include the projects listed below in their proposed amendment to the
redevelopment plan. and to propose using the amounts received by the OMNI
CRA from the City and the County to fund those Projects required by it to fund in
the manner described below.
a. PAC (To the County for repayment of PAC Bonds and/or
loans: In furtherance of such expeditious utilization of funds for the
County's payment of debt service on the Performing Arts Center
Bonds and/or Loans, the CRA shall remit to the COUNTY (a) on
March 31, 2008 and every March 31st thereafter ending on March
31, 2012, the first $1.43 million of Increment Revenue (as such
term is defined in the First Amendment) plus an amount equal to
thirty-five percent (35%) of the amount by which the Increment
Revenue from the Omni Community Redevelopment Area exceeds
$1.43 million; and (b) commencing March 31, 2013 and every
March 31 thereafter until March 31, 2027, including any additional
time extensions beyond March 31, 2027, an amount equal to the
greater of $1.43 million or.thirty-five percent (35%) of the Increment
Revenue from the Omni Community Redevelopment Area;
provided, however, the amounts to be remitted by the CRA as
calculated .in accordance with subsections (a) and (b) shall not
exceed $25 million in any fiscal year. The City and County
acknowledge that these funds are necessary to provide for the City
and County contributions to the Baseball Project.
b. . Port Tunnel: $88 million (approximately) to be paid to the
City in annual installments commencing upon substantial
completion of the Port Tunnel Project through 2030. This amount
will fund the City's contribution towards the Port Tunnel project.
c. Museum Park: An amount necessary to fund $68
million for capital improvements to the park component of the
Project-,.to.be..funded.by.the,OMNI CRA and completed by,the,City
by no later than January'2012, and an annual contribution to the
park's capital expenditure fund of $2 million, payable commencing
on the date of substantial completion of the park component of the
Project through 2030.
4. Tourist Development Tax (TDT) and Convention Development
Tax (CDT) funds: The Parties acknowledge that the OMNI CRA Amendment
will result in an increase in the availability of CDT and TDT revenues for projects
other than the PAC, which the parties agree to use for the Baseball Project and
the Parking/Balance of Orange Bowl Site, The City .and County agree that the
implementation of the OMNI CRA Amendment will permit the County to release
• additional sufficient TDT and CDT dollars so that municipal bonds may be issued
for the redevelopment of the Orange Bowl site as follows:
a. ' The Baseball Project:
City: The City will fund $10 million from CDT
revenues.
County: The County will fund $88 million from TDT
revenues and $10 million from tourist taxes
(CDT or PST) revenues.
b. Parking/Balance of Orange Bowl Site: The City will fund
$50 million from CDT revenues.
5.. ...The SEOPW CRA.
a. The City and the SEOPW.CRA agree to generate a Finding.
of Necessity study to substantiate the expansion of the boundaries
of the SEOPW district to include the geographic area described in
Exhibit "B" hereto. If the City and the SEOPW CRA each adopt a
resolution, supported by data and analysis, which makes a
legislative finding that the conditions in the area meet the criteria
described in Section 163.340(7) or (8), the City and the SEOPW
CRA agree to provide the County with the adopted Finding of
Necessity study and resolutions for the Board's review and
consideration, as set forth in Section 163.355, Florida Statutes.
b. After making the legislative findings and adopting the.Finding
of Necessity study, the City and the SEOPW CRA agree to prepare
and considera,resolution that approves after a public,heanng„an
amendment to the Plan, which amendment shaft (i) be in- the °form
of the Amended 2004 Southeast Overtown/Park West Community
Redevelopment Plan prepared by Dover, Kohl & Partners, but
updated to include the projects proposed for the expanded
boundaries; and (ii) extend the life of the SEOPW CRA to March
31, 2030; and (ii) expand the boundaries of the SEOPW District. 1f
the City and the SEOPW CRA each adopt a resolution that
approves the amendment to the Plan and that recommends to the
County their approval of the amendment to the Plan, they agree to
provide the County with the adopted amendment for review and
consideration by the Board of County Commissioners after a public
hearing, as set forth in Section 163.361, Florida Statutes.
c. Upon receipt .of the adopted Finding of Necessity and
amendment to the Plan the County agrees to review, comment,
prepare and recommend for the Board's consideration the Finding
of Necessity and amended Redevelopment Plan. The CRA shall
report such proposed modification to the boundaries of the
redevelopment area to each taxing authority in writing or by oral
presentation, or both, as required by Section 163.361(3)(a), Florida.
Statutes. The City and the SEOPW CRA agree that, in accordance
with the provisions of Section 163.361, Florida Statutes, the Board
shall only consider approval of the Finding of Necessity and the
amended Plan after the SEOPW CRA has complied with the
provisions of Section 163.361(3)(a), Florida Statutes. •
d. The City and the SEOPW CRA understand that the process
of reviewing the amended Redevelopment Plan will entail mutual
cooperation from the County, City and SEOPW CRA, and that
delays in the review process may delay when the Board consider
the items. The City, the SEOPW CRA and the County agree that
the approval of this Agreement by the parties does not constitute
approval of those matters in the Finding of Necessity and the
amendment to the Plan which require approval by the SEOPW
CRA, the City Commission and the Board. Therefore, the parties
agree that as a matter of their sovereign power and legislative
authority if the SEOPW CRA, the City Commission and/or the
Board do not approve a resolution adopting the finding of necessity
and/or the amendment to the Plan, the failure to approve such
resolution or amendment to the Plan shall not be deemed an event
of default under this Agreement and the parties shall not be liable to
each other.
e. The City, the County and the SEOPW CRA agree that
commencing fiscal year .2017 and ending fiscal year 2030, the
amount.of.TIE. .Revenues. collected from.the projects listed in Exhibit
C budgeted annually for expenditure bythe"SEOPW CRA from the
SEOPW CRA trust fund shall not exceed 50% of Increment
Revenues collected from •such projects in such fiscal year and
deposited in the SEOPW CRA trust fund for such year. The City,
the County and the SEOPW CRA agree that the SEOPW CRA
shall return the balance of the Increment Revenues (45%) collected
from the projects listed in Exhibit C for such year to each taxing
authority which paid the increment in the proportion that the amount
of the payment of such taxing authority bears to the total amount
paid into the trust fund by all the taxing authorities for that year. It
is the primary intent of the City and the County that SEOPW CRA
tax increment revenues on deposit in the SEOPW Trust Fund will
be allocated by the SEOPW CRA towards the development of
affordable housing and related infrastructure in the SEOPW CRA
district.
f. The County agrees that it shall begin to make a $20 million
contribution to the City to be applied toward the funding of the
Streetcar project upon the later of (I) September 30, 2017 or (ii) the
receipt of the requisite approvals for the streetcar project by the
State• of Florida and •the MPO: • The County's Streetcar project
contribution may be made in a lump sum or in annual installments
sufficient to issue tax—exempt municipal bonds with a debt service
coverage dictated by the market commencing on the date of
substantial completion of the streetcar project.
6. Annual Budget. The County agrees to waive any claims it may
have to approve the annual budget for the CRAs for fiscal years prior to the fiscal
year commencing October 1, 2008. -
7. Waiver of. Administrative Fee. The County agrees to waive .the
1.5% administrative fee chargeable to the CRAs.
8. Extension of Reverter. The County agrees to place an item on
the agenda for the first meeting of the Board of County Commissioners in
January 2008, considering an extension of the reverter date of the properties
described in Exhibit "D" or a re -conveyance of said properties to the City, if the
reverter has already occurred.
9. Time of the Essence: Time is of the essence in the
performance of this Agreement.
10. Condition Subsequent: The County, the City and the Florida
Marlins, L.P. (the "Team') agree that the funding commitments to the PAC, as set
forth in this Agreement and in the First Amendment to OMNI CRA Interlocal, and
to -the New Orange. Bowl,-:as�contemplated..herem,,. shall be void unless a binding
agreement for the Baseball Project (the "Baseball Stadium Agreement') is
executed, containing the following provisions:
(i). Total Baseball Stadium cost will not exceed $515 million;
(ii) Team's contribution to the Stadium cost shall.not be less than $155
million;
(iii) Team will not request more than 6,000 parking spaces at the new
Orange Bowl Site;
(iv) The Team, the City and the County. shall act in good faith and will
be reasonable in negotiating the Baseball Stadium Agreement.
11. Severability: If one or more of the provisions of this agreement
shall be held contrary to any provision of law or be held invalid, then such
provision or provisions shall be null and void and shall be separate from, and
have no effect on, the remaining provisions which shall continue to be legal and
valid.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be
executed as of the date first above written.
Attest:
BY:
scilla A. Thompson, City Clerk
City of Miami
Pero r .ndez, City Manager
Approved as to Form and Correctness Approved as to Insur. • e ' - •uirements
By:
Jdr L. Fernandez, City AttornpyV
Attest:
By:
Approved as to Form and Legal
Sufficiency:
.77
By: ' 4L-t
County Attorney
C
By:
LeeAnn Brehm, Director, Risk
Management
Miami -Dade County
Southeast Overtown Park West
Community Redevelopment Agency
By
Omni Community Redevelopment
Agency
Approved as to form and correctness:
. -Jorge L. r°rnauuez
CRA General Counsel
�r
JOINDER
Florida Modino.L.P.joins inthe execution ofthis Agreement boacknowledge its
agreement to the provisions containodinParagraph1U.
Florida Marlins, L,P.
t1
First Amendment to Interlocal Cooperation Agreement dated June 24,
1996 by and among Miami -Dade County, the City of Miami and the
Community Redevelopment Agency for the Omni District
This First Amendment to Interlocal Cooperation Agreement ("First Amendment") is
made and entered into this day of , 2007 by and. among Miami -Dade
County, a political subdivision of the State of Florida (the "County"), the City of
Miami, a municipal corporation of the State of Florida (the "City") and the Community
Redevelopment Agency for the OMNI district, a public body corporate and politic (the
"CRA").
WITNESSETH
WHEREAS, pursuant to Resolution No. R-280-96 adopted by the Board. of
County Commissioners of Miami -Dade County (the "Board") on March 19, 1996, the
Board approved the terms and execution of an Interlocal Cooperation Agreement by and
among the County, the City and the CRA (the "Interlocal"), which Interlocal was dated
June 24, 1996 and contained provisions for the CRA to make certain payments to the
County for the purpose of paying debt service on the Performing Arts Center Bonds; and
WHEREAS; the Interlocal obligates the CRA to pay the first $1.43 million of tax
increment fund revenues collected each year to the County for the payment of the County
Debt Service Payment, which obligation ceases when the Performing Arts Center Bonds
are no longer outstanding; and
WHEREAS., construction costs for.the Performing -Arts Center have escalated
and exceeded the estimated budget at the time of the original Interlocal; and
WHEREAS, the County has issued additional Performing Arts Center Bonds and
has borrowed funds pursuant to one or more loan agreements ("Loans") for the purpose
of funding such higher construction costs of the Performing Arts Center; and
WHEREAS, the County, the City, and the CRA recognize that the Performing
Arts Center has been an enormous catalyst and remains such in attracting significant
development and private investment to the City's Omni district; and
WHEREAS, the catalytic impact of the Performing Arts Center to the Omni
district has contributed to the substantial growth of the Omni district's tax roll which will
provide resources for important future projects; and
• WHEREAS, the County, the City, and the CRA desire to provide additional tax
increment revenues from the CRA for the purpose of paying debt service on all
outstanding Performing Arts Center Bonds and Loans and to fund other CRA projects;
and
WHEREAS, the County, the City, and the CRA agree that the First Amendment
to the Omni Community Redevelopment Plan, as supplemented by Addendum I1, was
approved by the Board on April 8, 1997; therefore, the term of the Omni District shall
expire on September 30, 2027; and
WHEREAS, the County, the City, and the CRA acknowledge their interest and
the benefits of further extending the life and expanding the boundaries of' the Omni
district to, among other things, include infrastructure, the Port Tunnel and Museum Park
projects; and
WHEREAS, the County, the City, and the CRA acknowledge that, in order to
expand the boundaries of the Omni District, it will be necessary to prepare and adopt a
finding of necessity for the expanded area and amend the Community Redevelopment
Plan for the Omni district (the "Plan"); and
WHEREAS, the County, the City and the CRA acknowledge that the steps and
corresponding period of time necessary to expand the boundary of the Omni district vary
and agree to cooperate, act expeditiously and in good faith in implementing the steps,
NOW THEREFORE, THE COUNTY, THE CITY AND THE CRA AGREE
AS FOLLOWS:
1. The recitations set forth above are true and correct and adopted as part of this
First Amendment.
II. Al] terms in capitalized form, unless otherwise defined in this First
Amendment, shall have the same meaning as ascribed to them in the
Interloca1.
III. The Interlocal dated June 24, 1996, attached and made a part of this First
Amendment is amended in the following respects:
A. Article II, Section C, Project Financing, Subsection 1. is amended and
restated to read as follows:
The CRA shall administer and manage the Fund as required by law and
develop and promulgate rules, regulations and criteria whereby the Fund
may be promptly and effectively administered, including the establishment
and the maintenance of books and records and adoption of procedures
whereby the COUNTY may, expeditiously and without undue delay,
utilize such funds in accordance with the COUNTY approved budget for
the -Performing Arts Center, and whereby the CRA may, expeditiously and
without undue delay, utilize the funds other than those dedicated to the
County for the purpose of paying debt service on the Performing Arts
Center Bonds and/or Loans, in accordance with the COUNTY approved
budget for those .aspects of the PROJECT not related to the Performing
Arts .Center. In furtherance of such expeditious utilization of funds for the
County's payment of debt service on the Performing Arts Center Bonds
and/or Loans, the CRA shall remit to the COUNTY (a) on March 31, 2008 .
and every March 31" thereafter ending on March 31, 2012, the first $1.43
million of Increment Revenue (as such term is defined in this paragraph) -
plus an amount equal to thirty-five percent (35%) of the amount by which
the Increment Revenue from the Omni Community Redevelopment Area
exceeds $1.43 million; and'(b) commencing March 31, 2013 and every
March 31 thereafter until March 31, 2027, an amount equal to the greater
of $1.43 million or thirty-five percent (35%) of the Increment Revenue
from the Omni Community Redevelopment Area; provided, however, the
amounts to be remitted by the CRA as calculated in accordance with
subsections (a) and (b) shall not exceed $25 million in any fiscal year.
"Increment Revenue" means all the Increment revenue (as such term is
defined in Section 163.340(22) and calculated using ninety-five percent
(95%) in the calculation pursuant to Section 163.387(1), Florida Statutes
(2006)) from the Omni District (including any expanded boundaries).
Exhibit A to this Amendment contains examples of the operation of this
clause. The amounts to be remitted by the CRA in accordance with this
Section shall be used for the purpose of paying debt service on all
Performing Arts Center Bonds • and/or any Loans (the "County Debt
Service Payment"). The CRA's last payment to the County of the
amounts set forth above shall occur on March 31, 2027. The parties agree
that the term of the Omni District and the CRA shall expire on September
30, 2027 and all remaining funds on deposit in the Fund shall be remitted
to the applicable taxing authorities as provided in the Act. If the County
sells any additional Performing Arts Center Bonds or incurs any additional
Loans. with...regard .to. the Performing„Arts .fen. ter,, the COUNTY shall
ensure that all documentation relating to such Bonds or Loans shall limit
the liability of the CRA to the amounts due from the CRA to the County
as provided in this Agreement..
The CRA shall be annually compensated for all administrative services
rendered with respect to any and all aspects of the PROJECT subject to
availability of revenue in the Fund. Such administrative expenses payable
out of the Fund shall be capped at an amount not to exceed twenty percent
(20%) .of the annual budget approved by the COUNTY.
C.' Article I1, Section C, Project Financing, Subsection 4. is amended and
restated ..to -read as follows: •
The CRA may issue bonds and/or incur indebtedness required to finance
the PROJECT provided such bonds and/or indebtedness is subordinate to
all Performing Arts Center Bonds and/or Loans; provided, however, such
subordinate bonds and/or indebtedness shall mature not later than
September 30, 2027. The subordination of bonds and/or indebtedness
issued by the CRA referredto in the preceding sentence shall relate to the
amount of Increment Revenue reseryed for the COUNTY pursuant to the
provisions of Article II, Section C, subsection 1 above. Prior to the
issuance of any bonds or the incurrence of any indebtedness, the
COUNTY shall review and approve all related documents and agreements.
The CRA shall not withhold the payment to the County of the amount of
Increment Revenue reserved for the COUNTY pursuant to the provisions
of Article 'II, Section C, subsection 1 above for any reason,
notwithstanding any other activities, actions, claims, or causes of action
related to the PROJECT. •
Add Article VI titled Other Provisions to read as follows:
A. Amendment to Plan.
(a) The City and the CRA agree to generate a Finding of Necessity
study to substantiate the expansion .of the boundaries of the Omni
district to include a geographic_ area, which will- include
Bicentennial Park and Watson Island. If the City and the CRA
each adopt a resolution, supported by data and analysis, which
makes a legislative finding that the conditions in the area meet the
criteria described in Section 163.340(7) or (8), the City and the
CRA agree to provide the County with the adopted Finding of
Necessity study and resolutions for the Board's review and
consideration, as set forth in Section 163.355, Florida Statutes.
(b) After making the legislative 'findings and adopting the Finding of
Necessity study, the City and the CRA agree to prepare. and
consider a resolution that approves, after a public hearing, an
amendment to the Plan, which amendment shall (i) extend the life
of the CRA to March 31, 2030; and (ii) expand the boundaries of
the Omni District; and (iii) to add the Port Tunnel and the Museum
Park as projects eligible for tax increment financing. If the City
and the CRA each adopt a resolution that approves the amendment
to the Plan and that recommends to the County their approval of
the amendment to the Plan, they agree to provide the County with
• the adopted amendment for review and consideration by the Board
of County Commissioners (the "Board") after a public hearing, as
set forth in Section 163.361, Florida Statutes.
(c) Upon receipt of the adopted Finding of Necessity and amendment
to the Plan the County agrees to review, comment, prepare and
recommend for the Board's consideration the Finding of Necessity
and amended Redevelopment Plan. The CRA shall report such
proposed modification to the boundaries of the redevelopment area
to each taxing authority in writing or by oral presentation, or both,
as required by Section 163.361(3)(a), Florida Statutes. The City
and the CRA agree that, in accordance with the provisions of
Section 163.361, Florida Statutes, the Board shall only consider
approval of the Finding of Necessity and the amended Plan after
the CRA has complied with the provisions of Section
163.361(3)(a), Florida Statutes.
(d) The City and the CRA understand that the process of reviewing the
amended Redevelopment Plan will entail mutual cooperation from
the County, City and CRA, and that delays in the review process
may delay when the Board consider the items.
B. Limitations on Approvals. The City, the CRA and the County agree that
the approval of this Agreement by the parties does not constitute approval
of those matters in the Finding of Necessity and the amendment to the
Plan which require approval by the CRA, the City Commission and the
Board. Therefore, the parties agree that as a inatter of their sovereign
power and legislative authority if the CRA, the City Commission and/or
the Board do not approve a resolution adopting the finding of necessity
and/or the amendment to the Plan, the failure to approve such resolution or
amendment to the Plan shall not be deemed an event of default under this
Agreement and the parties shall not be liable to each other.
C. Annual Budget. The County agrees to waive any claims it may have to
approve the annual budget for the Omni District for fiscal years prior to
the fiscal year commencing October 1, 2008.
D. Waiver of Administrative Fee. The County agrees to waive the 1.5%
administrative fee chargeable to the Omni District.
IV . In all other respects, the Interlocal...Cooperation. Agreement is ratified and
confirmed.
V. In the event of any conflict between the Interlocal Agreement and this First
Amendment, the terms of the First Amendment shall control. •
VI. The City, the CRA and the County agree that the CRA's funding commitment
to the County for 'County Debt Service Payment, as set forth in Section III. A.
of this First Amendment, shall be void unless a binding Baseball Stadium
Agreement between the County, the City and the Florida Marlins is executed,
containing the following provisions:
A. The total baseball stadium cost will not exceed $515 million;
B. The Florida Marlin's contribution to the stadium cost shall not be less than
$155 million;
C. -The Florida Marlins will not request more than 6,000parking spaces at the
new Orange Bowl site.
D. The Florida Marlins, the City and the County shall act in good faith and
will be reasonable in negotiating the aforementioned Baseball Stadium
Agreement,
IN WITNESS WHEREOF, the parties have caused this First Amendment to be
executed in their names by their duly authorized officers, all as of the day and year first above
written.
City of Miami, a municipal corporation Miami -Dade County, a political subdivision
of the State of Florida of the State of State of Florida
By: By:
Pedro G. Hernandez George Burgess
City Manager City Manager
ATTEST:
By:
By:
Priscilla A. Thompson,
City Clerk Deputy Clerk
Approved as to form and correctness: Approved as to form and legal sufficiency:
By: By:
Jorge L. Fernandez/0 /)
City Attorney r1/ County Attorney
Omni Redevelopment District Community
Redevelopment Agency, of the City of
Miami, a public agency and body
corporate created pursuant to
Section 163.356, Florida Statutes ("CRA")
By:
James H. Villacorta,
Executive Director
ATTEST:
By:
Priscilla A. Thompson
• Clerk of the Board
Approved as to form and legal sufficiency:
By:
Jorge L. Fernandez
CRA General Counsel
:fit'
EXHIBIT "A" TO
First Amendment to Interlocal Cooperation Agreement dated June 24,
1996 by and among Miami -Dade County, the City of Miami and the
Community Redevelopment Agency for the Omni District
Assume:
Then:
EXAMPLE 1
i. Payment is due March 31, 2008.
ii. Increment Revenue is equal to $12,000,000.
The CRA shallremit to the County the total of:
(a) $1,430,000; plus
(b) 35% multiplied by ($12,000,000 minus $1,430,000) or 35% multiplied
by $10,570,000 (which is an amount equal to $3,699,500).
Therefore the amount the CRA shall remit to the County on March 31, 2008 is
equal to $1,430,000 plus $3,699,500 or $5,129,500.
Assume:
Then:
EXAMPLE 2
(1) Payment is due March 31, 20]2.
(2) Increment Revenue is equal to $15,000,000.
The CRA shall remit to the County the greater of:
(1) $1,430,000; or
(2) 35% multiplied by $15,000,000 (which is an amount equal to $5,250,000).
Therefore, the amount the CRA shall remit to the County on March 31, 2012 is
equal to $5,250,000.
EXHIBIT "B"
pROPOSEID SEOPW CRA EXPANDED BOUNDARIES
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[attached]
LARGE SCALE DEVI PMENT REPORT
SEOPIV
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666 B yn. Blvd; 113 NE6 Street
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27'NE 9sl Street
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lb-Dec-03
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249,261 NW'6St:160NW75t; 111
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PRELUI INAR►
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SEO/PW 1.761,014,367
-
ilCdiOnd to npltted lip. 12•,:. e8dia 6k l+tded' }i i
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Assumed m be 156m055M trt D6.6616LZix 2010 td be loehded in lirivary7Al 1 MD!. f!\ 2012 *pinilord:
Assumed to be competed by Dosoobes 2011 to ba included in lotwry 2012 rntl,for FY 2013 operations
Assured lobe canoleted by December 2012 to Ire+nduded in (Amass. 2013 roll,far FY 2014 operstlons
Ate aeln-be'iortipletn4by.Dbamb.0 01i"edbe.IDdutted fet �iyYotiroli;fo
Toe prelim,ntry for inclusion
258,9e a 400
435,520,325
0
,1,01S.349,294
18,000,000
Total $2,765,024,567
1of1
EXHIBIT "D"
PARCEL "A":
CERTAIN LOTS IN BLOCK 36 OF P.W. WHITE'S RE -SUBDIVISION:
Lots 1, 2, 3, 6, 7, 8, 9, 10, 11, 14, 15, 16, 17, 18, 19, 22, 23, 24, 26, 27, 30, 31, 32, 33, 34,
35, 38, 39, 40, 41, 42, 43, 46,47 and 48 in Block 36 of P.W. WHITE'S RE -
SUBDIVISION, according to the Plat thereof, recorded in Plat Book 'B' at Page 34 of the
Public Records of Miami -Dade County, Florida; LESS that portion thereof lying within
the. Metropolitan Dade County Metrorail right-of-way which is described as follows:
Begin at the Southeast corner of said Block 36; thence run S 87°46'59" W, along the
South line of said Block 36, for a distance of 1.53 feet; thence run N 04°44'53" W for a
distance of 187.90 feet to a point of intersection with the arc of a circular curve concave
to the Southwest, the center of which bears S 82°00'08" W from said point of
intersection; thence run Northwesterly along the arc.of said circular curve concave to the
Southwest, having a radius of 987.00 feet, through a central angle of 06°39'50", for an arc
distance of 114.79 feet to the point of intersection with the North line of said Block 36;
thence run N 87°'46'14" E, along the North line of said Block 36, for a distance of 27.71
feet to the Northeast corner of said Block 36; thence run S 02'16'19" E, along the East
line of said Block 36, for a distance of 301.01 feet to the Point of Beginning.
PARCEL "B":
BLOCK 45N OF A.L. KNOWLTON'S MAP OF MIAMI:
Lots 1 through 12 inclusive in Block 45N of A.L. KNOWLTON'S MAP OF MIAMI
according to the Plat thereof, as recorded in Plat Book 'B' at Page 41 of Public Records
of Miami -Dade County, Florida.
PARCEL "A":
BLOCK 56N OF A.L. KNOWLTON'S MAP OF MIAMI:
Lots I through 12 inclusive in Block 56N of A.L. KNOWLTON'S MAP OF MIAMI
according to the Plat thereof, as recorded in Plat Book 'B' at Page 41 of Public Records
of Miami -Dade County, Florida.
ors.Oocumem GLOBAL AGREEMENT 12-18-07 as emcndcd