HomeMy WebLinkAboutSummary FormCIP N/A B
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Chief //r I-14: /772City Manage
Date: 08/19/2013
FILE ID:
AGENDA ITEM SUMMARY FORM
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Requesting Department: Public Facilities (Asset Management Division)
Commission Meeting Date: 09/26/2013
District Impacted: City-wide
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Revocable License with Tropical Financial Credit Union for the use of space at the City -owned property
located at 444 SW 2nd Avenue, Miami, Florida, aka the Miami Riverside Center
Law Department
Matter ID No.
13-1 625
Purpose of Item:
A Resolution of the City of Miami Commission, with attachments, authorizing the City Manager to execute a
Revocable License ("License"), in substantially the attached form, between the City of Miami ("City") and
Tropical Financial Credit Union, a federally chartered credit union ("Licensee"), for the use of approximately
20 square feet of space in City -owned property located at 444 S.W. 2nd Avenue, Miami, Florida, also known
as the Miami Riverside Center ("Property"), on a month -to -month basis, for the purpose of operating and
maintaining an automatic teller machine ("ATM"), providing the City with a monthly Use Fee
payment of Five Hundred Dollars ($500.00) plus State of Florida Use Tax (If applicable), with terms
and conditions more particularly set forth in said License.
Background Information:
See Attached.
Budget Impact Analysis
YES Is this item related to revenue? 04002.221100.448000
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Account No (LETF):
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bo
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: $1,500.00 (FY'13)
Final Approvals
jSIGN AND Viji 'ov'
tir 15/24/3
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Subject: Revocable License with Tropical Financial Credit Union for the use of space at the City -owned property
located at 444 SW 2nd Avenue, Miami, Florida, aka the Miami Riverside Center
Background Information:
On March 10, 1997, the City of Miami ("City") entered into an Revocable License Agreement with Tropical
Financial Credit Union ("Licensee"), allowing the Licensee to operate a credit union branch office of
approximately 140 square feet of space on the third floor of the Miami Riverside Center ("Property") and a free-
standing automatic teller machine ("ATM") on the first floor of the Property, at no cost to the Licensee.
Licensee reorganized its operations and closed its branch office at the Property. Even though the Licensee
closed its branch office located at the Property, it has maintained a free-standing automatic teller machine
("ATM") on the first floor of the Property. As such, the City has negotiated a Revocable License ("License") with
the Licensee to allow the Licensee to continue operating the ATM at said location and provide financial seminars
and/or trainings.
The License allows for the Licensee to continue using the designated area within the Property on a month -to -
month basis while providing the City with a monthly Use Fee payment of Five Hundred Dollars ($500.00) plus
State of Florida Use Tax (if applicable), with additional terms and conditions set forth in the License.
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