HomeMy WebLinkAboutSummary FormDate: 4/28/2014
AGENDA ITEM SUMMARY FORM
FILE ID: 14-00430
Law Department
Matter ID No.
14-1109
Requesting Department: Public Facilities/Asset Mgmt.
Commission Meeting Date: 5/8/2014 District Impacted: 2
Type: ® Resolution ❑ Ordinance n Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Resolution to execute the Partial Modification of Original Restrictions to Deed No. 19447-H.
Purpose of Item:
A Resolution of the Miami City Commission, with attachment(s) authorizing the City Manager to
negotiate and execute, in a form acceptable to the City Attorney, the Partial Modification of Original
Restrictions to Deed No. 19447-H, (the "Modification of Restrictions") with the Board of Trustees of
the Internal Improvement Trust Fund of the State of Florida (the "Board of Trustees") and the City of
Miami ("City"), subject to prior approval by the Board of Trustees, and to undertake all the steps
necessary to supersede and terminate Deed No. 19447-F.
Background Information:
See Supplemental Page
Budget Impact Analysis
NO 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:
Final Approvals
(SIGN AND DATE)
CIP N/A Bud - i�� y4/y
If using or receiving capital funds / I
Grants N/A Risk Management
Purchasing N/A Dept. Director
Chief City Manager
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SUPPLEMENTAL PAGE
Subject: Resolution to execute the Partial Modification of Original Restrictions to Deed No. 19447-H.
Background Information:
The City of Miami ("City") is the owner of certain real property located on Watson Island at
approximately 1050 MacArthur Causeway, Miami, Florida (the "Property").
Pursuant to Resolution No. 01-972, the City Commission adopted September 17, 2001, and
Resolution No. 01-1028, adopted September 25, 2001, polled the electors of the City of Miami
regarding leasing the Property to a developer for the project and pursuant to Referendum on
November 6, 2001 (the "Referendum") the voters returned an affirmative vote. The City entered into
an agreement with the Flagstone Island Gardens ("Developer") that has certain required conditions
precedent that must be met for the future execution of a long-term Ground Lease with the Developer.
The Board of Trustees of the Internal Improvement Trust Fund of the State of Florida (the "Board of
Trustees") approved a modification of the Original Restrictions on June 24, 2004, and executed and
delivered an instrument entitled "Partial Modification of Restrictions" on March 2, 2005, and same
was recorded on March 18, 2005, in Official Records Book 23181, Page 775, Public Records of
Miami -Dade County, Florida. The Board of Trustees then approved an additional modification of the
Original Restrictions on August 16, 2011, and executed and delivered an instrument entitled
"Amended and Restated Partial Modification of Restrictions" on September 15, 2011, and same was
recorded on September 16, 2011, in Official Records Book 27828, Page 3675, Public Records of
Miami -Dade County, Florida. The Amended and Restated Partial Modification of Restrictions
automatically and immediately terminated on January 18, 2012, through no fault of the City, the
Board of Trustees, or the State of Florida Department of Environmental Protection, Division of State
Lands (the "Division").
The City is still desirous of leasing that portion of the lands conveyed to the City by the Deed which is
described in Exhibit "A", attached hereto and made a part hereof (the "Property"), to the Developer to
allow for the construction and operation of a public and private commercial marina and mixed use
waterfront development, including any and all uses permitted under the Ground Lease, as defined
below (as a whole or in phases, the "Development"), and in order to accomplish the same, it is
necessary that the Original Restrictions be modified by the Board of Trustees.
The Development is still in the public interest because it will convert the Property from a sparse,
unimproved field to a location that will contain cultural, scenic, and recreational values that will
benefit the public while at the same time retaining 60% of the Development as open space in the form
of gardens, walkways, and a waterfront promenade available to residents and visitors for cultural and
recreational activities. The Development will also aid tourism, provide training and employment
opportunities to residents, and generate significant tax revenue for the City, Miami -Dade County and
the State of Florida.
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