HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: /QZ - Q// 6 5
Date: 10/15/12 Requesting Department: Public Facilities
Commission Meeting Date: 10/25/12 District Impacted: Citywide
Type: ® Resolution n Ordinance .❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Law Department
Matter ID No.
Subject: A Resolution authorizing the City Manager to execute Revenue Sharing Agreement with the
Miami Children's Museum.
Purpose of Item:
A Resolution of the Miami City Commission, with attachment(s), authorizing the City Manager to
execute a Revenue Sharing Agreement, in substantially the attached form, with the Miami Children's
Museum, Inc. in conjunction with the installation of outdoor advertising signs at the Miami Children's
Museum located on Watson Island at 980 MacArthur Causeway.
Background Information:
See attached supplement.
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:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
If using oriecbiving capital �fiinds
Grants
. Purchasin: J
Chief
Final Approvals
(SIGN AND DATE)
Budget ►�
Risk Manageme
Dept. Director
City Manager
Paae 1 of 2
Background Information:
On November 2nd, 2001, the City and the Miami Sports and Exhibition Authority ° ("MSEA") entered into a
Interlocal Agreement which leased to MSEA a portion of Watson Island for the development of the Miami
Children's Museum project ("Interlocal Agreement"). MSEA and the Miami Children's Museum ("MCM")
entered into a Sublease Agreement, for the leasing of a portion of Watson Island, for the development of a
world class children's museum and otherrelated facilities and improvements ("Sublease"). MCM
constructed, operates and maintains the children's museum located on Watson Island at 980 McCarthur
Causeway, Miami, FL ("Property").
MCM and Worldwide Amherst Media, LLC ("WAM") have entered into a License Agreement, as may be
amended from time to time, in accordance with Article XV of the Sublease, for the installation and operation
of outdoor advertising signs at the Property in order to help the financial viability of MCM's operation and
programs ("License Agreement"). MCM is desirous of entering into this Revenue Sharing Agreement in
order to assist with the financial viability of City wide initiatives and/or programs with the consent of
MSEA, City and WAM.
In accordance with the Revenue Sharing Agreement, MCM shall pay to the City twenty percent (20%) of the
Gross Receipts generated from the outdoor advertising signs, inclusive of the Permit Fees. The City shall
receive approximately $252,000 in Permit Fees for the two proposed signs at the Property.
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