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HomeMy WebLinkAboutLegislationCity of Miami Legislation Resolution City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 14-00526 Final Action Date: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), CALLING FOR A REFERENDUM SPECIAL ELECTION TO BE HELD ON AUGUST 26, 2014, FOR THE PURPOSE OF SUBMITTING TO THE QUALIFIED ELECTORS OF THE CITY OF MIAMI ("CITY"), FOR THEIR APPROVAL OR DISAPPROVAL OF THE FOLLOWING REFERENDUM BALLOT QUESTION, "SHOULD THE CITY EXTEND THE EXISTING LEASES FROM FORTY-SIX (46) TO NINETY-NINE (99) YEARS WITH BAYSIDE MARKETPLACE LLC. ON THE 16.85 ACRES OF WATERFRONT LAND (BAYSIDE MARKETPLACE) CONDITIONED ON THE CITY RECEIVING; UPFRONT PAYMENT OF $10,000,000.00; MINIMUM GUARANTEED YEARLY RENT OF APPROXIMATELY $3,516,002.00 (WHICH ESCALATES); PERCENTAGE RENT; MINIMUM $22,000,000.00 IMPROVEMENTS TO BAYSIDE MARKETPLACE INCLUDING ADDITIONAL PARKING; INCREASED CONTRIBUTION TO BAYSIDE MINORITY FOUNDATION; AND DEVELOPMENT OF A $400,000,000.00 PRIVATELY FUNDED 1,000 FOOT OBSERVATION AND ENTERTAINMENT TOWER (SKYRISE MIAMI); DESIGNATING AND APPOINTING THE CITY CLERK AS THE OFFICIAL REPRESENTATIVE OF THE CITY COMMISSION WITH THE RESPECT TO THE USE OF VOTER REGISTRATION BOOKS AND RECORDS; FURTHER, DIRECTING THE CITY CLERK TO CAUSE A CERTIFIED COPY OF THIS RESOLUTION TO BE DELIVERED TO THE SUPERVISOR OF ELECTIONS OF MIAMI-DADE COUNTY, FLORIDA, NOT LESS THAN FORTY-FIVE (45) DAYS PRIOR TO THE DATE OF SUCH REFERENDUM SPECIAL ELECTION. WHEREAS, City of Miami ("City") and Bayside Marketplace, LLC ("Developer") are the current landlord and tenant, respectively, for certain premises located at Bayside Marketplace in Miami, Florida, as more particularly described in the Retail Lease and Garage Lease (the "Leased Property"); and WHEREAS, the City and the Developer desire to modify certain provisions of the Retail Lease and Garage Lease; and WHEREAS, in exchange for extending the term of the Garage Lease by fifty-three (53) years and the right to build additional parking spaces, the current annual minimum base rent of $10,000.00 will be increased to $916,920.00 and the percentage rent calculation will be changed from a percentage of the Developer's profits, to fifteen percent (15%) of their gross revenues above a natural breakpoint of $6,112,800.00; and WHEREAS, in exchange for extending the term of the Retail Lease by fifty-three (53) years, increasing the cap on refinancing to eighty percent (80%) of the appraised value of the improvements and increasing the maximum allowable square footage to include the development of a 1,000 foot tall observation and entertainment tower known as Skyrise, the City will receive an up -front payment of $10,000,000.00 plus three percent (3%) of the first $125,000,000.00 in refinancing for a total payment of $13,750,000.00; the current annual minimum base rent of $1,000,000.00 will be increased to City of Miami Page 1 of 5 File Id: 14-00526 (Version: 1) Printed On: 6/4/2014 File Number: 14-00526 $1,540,000.00 and the percentage rent calculation will be changed from a calculation involving a percentage of the Developer's profits, which the City has received $0.00 over the life of the Lease, to six percent (6%) of their gross revenues above a natural breakpoint of $25,666,666.00; a minimum base rent for the Skyrise Tower in the amount of $1,059,082.00 and 1.5% of the Gross sales of SkyRise over a breakpoint; and an increase to the annual contribution to the Bayside Minority Foundation to $350,000.00; 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 fully set forth in this Section. Section 2. In accordance with the provisions of Section 29-B of the Charter of the City of Miami, Florida and Section 2-12 of the Code of the City of Miami, Florida, as amended, a referendum special election is hereby called and directed to be held in the City of Miami, Florida, from 7:00 A.M. until 7:00 P.M., on Tuesday, August 26, 2014, for the purpose of submitting to the qualified electors of the City of Miami for their approval or disapproval of the proposed lease amendments as set forth in the Ballot Question. Section 3. The referendum Special Election shall be held at the voting places in the precincts designated, all as shown on the list attached hereto and made a part hereof and referred to as Exhibit No. 1 or as may be designated by the Supervisor of Elections of Miami -Dade County, Florida, in conformity with the provisions of the general laws of the State. The Precinct Election Clerks and Inspectors serve at said polling places on said election date shall be those designated by the Supervisor of Elections of Miami -Dade County, Florida, for such purpose in accordance with the general laws of the state. A description of the registration books and records which pertain to election precincts wholly or partially within the City of Miami, and which the City of Miami is hereby adopting and desires to us.e for holding such referendum special election is as follows: all registration cards, books, records and certificates pertaining to electors of the City of Miami and established and maintained as official by the Supervisor of Elections of Miami -Dade County, Florida, in conformity with the provisions of the general laws of the State of Florida, are hereby adopted and declared to be, and shall hereafter be recognized and accepted as, official registration cards, books, records and certificates of the City of Miami. Section 4. In compliance with section 100.342, Florida Statutes (2012), the City Clerk is hereby authorized and directed to publish notice of the adoption of the herein resolution and of the provisions hereof, at least twice, once in the fifth week and once in the third week prior to the week in which the aforesaid referendum special municipal election is to be held, in newspaper(s) of general circulation in the City of Miami, Florida, which notice shall be substantially in the following form: "NOTICE OF REFERENDUM SPECIAL ELECTION TO BE HELD ON TUESDAY, AUGUST 26, 2014 IN THE CITY OF MIAMI, FLORIDA PURSUANT TO RESOLUTION NO. 14- A referendum Special Election will be held on Tuesday, August 26, 2014 from 7:00 A.M. until 7:00 P.M. in the City of Miami, Florida, at the polling places in the several election precincts designated by the Board of County Commissioners of Miami -Dade County, Florida, as set forth herein, unless otherwise City of Miami Page 2 of 5 File Id: 14-00526 (Version: 1) Printed On: 6/4/2014 File Number: 14-00526 provided by law, for the purpose of submitting to the qualified electors of the City of Miami, Florida, the following question: "Should the City extend the existing leases from 46 to 99 years with Bayside Marketplace LLC on the 16.85 acres of waterfront land (Bayside Marketplace) conditioned on the City receiving: upfront payment of $10,000,000; minimum guaranteed yearly rent of approximately $3,516,002 (which escalates); percentage rent; minimum $22,000,000 improvements to Bayside Marketplace including additional parking; increased contribution to Bayside Minority Foundation; and development of a $400,000,000 privately funded 1,000 foot observation and entertainment tower (Skyrise Miami)?" By order of the Commission of the City of Miami, Florida. City Clerk A list of City of Miami polling places follows: (Insert list of City of Miami polling places.) YES (For the Measure) NO (Against the Measure) Section 5. The official ballot to be used at said referendum Special Election shall be in full compliance with the laws. of the State of Florida with respect to absentee ballots and to the use of the mechanical voting machines or the Computer Election System, and shall be in substantially the following form, to wit: "OFFICIAL BALLOT REFERENDUM SPECIAL ELECTION TUESDAY, AUGUST 26, 2014 FOR APPROVAL OR DISAPPROVAL OF THE FOLLOWING QUESTION: Proposed amendment to existing leases of city -owned waterfront land a Bayside Marketplace YES NO (For the Measure) (Against the Measure) City of Miami Page 3 of 5 File Id: 14-00526 (Version: 1) Printed On: 6/4/2014 File Number: 14-00526 " Should the City extend the existing leases from 46 to 99 years with Bayside Marketplace LLC on the 16.85 acres of waterfront land (Bayside Marketplace) conditioned on the City receiving: upfront payment of $10,000,000; minimum guaranteed yearly rent of approximately $3,516,002 (which escalates); percentage rent; minimum $22,000,000 improvements to Bayside Marketplace including additional parking; increased contribution to Bayside Minority Foundation; and development of a $400,000,000 privately funded 1,000 foot observation and entertainment tower (Skyrise Miami)?" Section 6. The form of the ballot shall be in accordance with the requirements of general election laws. Electors desiring to vote to approve the Question described above, shall be instructed to mark in the appropriate place next to the word "YES" within the ballot containing the statement relating to the Question. Electors desiring to vote to disapprove the Question described above, shall be instructed to mark in the appropriate place next to the word "NO" within the ballot containing the statement relating to the Question. Section 7. The City Clerk shall cause to be prepared absentee ballots containing the Question set forth in Section 5 above for the use of absentee electors entitled to cast such ballots in said referendum Special Election. Section 8. All qualified electors of said City shall be permitted to vote in said referendum Special Election and the Supervisor of Elections of Miami -Dade County, Florida, is hereby requested, authorized, and directed to furnish, at the cost and expense of the City of Miami, a list of all qualified electors residing in the City of Miami as shown by the registration books and records of the Office of said Supervisor of Elections and duly certify the same for delivery to and for use by the election officials designated to serve at the respective polling places in said election precincts. Section 9. For the purpose of enabling persons to register who are qualified to vote in said referendum special election to be held on August 26, 2014, and who have not registered under the provisions of the general laws of Florida and Chapter 16 of the Code of the City of Miami, Florida, or who have transferred their legal residence from one voting precinct to another in the City, they may register Monday through Friday, from 8:00 A.M. to 5;00 P.M. at the Miami -Dade County Elections Department located at 2700 Northwest 87th Avenue, Dora!, Florida, within such period of time as may be designated by the Supervisor of Elections of Miami -Dade County, Florida. In addition to the above place and times, qualified persons may register at such branch offices and may also use any mobile registration van for the purpose of registration in order to vote in the herein described referendum special election during such times and on such dates as may be designated by the Supervisor of Elections of Miami -Dade County, Florida. Section 10. Todd B. Hannon, the City Clerk of the City of Miami, Florida, or his duly appointed successor, is hereby designated and appointed as the official representative of the Commission of the City of Miami, Florida, in all transactions with the Supervisor of Elections of Miami -Dade County, Florida, in relation to matters pertaining to the use of the registration books and the holding of said referendum special election. Section 11. The City Clerk shall deliver a certified copy of this Resolution to the Supervisor of Elections of Miami -Dade County, Florida, not less than forty-five days prior to the date of the herein referendum Special Election. City of Miami Page 4 of 5 File Id: 14-00526 (Version: 1) Printed On: 6/4/2014 File Number: 14-00526 Section 12. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.{1} APPROVED AS TO FORM AND CORRECTNESS: VICTORIA MENDEZ CITY ATTORNEY Footnotes: {1} If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) 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. City of Miami Page 5 of 5 File Id: 14-00526 (Version: 1) Printed On: 6/4/2014