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HomeMy WebLinkAboutLegislation - SUBCity of Miami Legislation Resolution: R-14-0227 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 14-00526 Final Action Date: 6/12/2014 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 $27,000,000.00 IMPROVEMENTS TO BAYSIDE MARKETPLACE INCLUDING ADDITIONAL PARKING; INCREASED CONTRIBUTION TO MIAMI BAYSIDE 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 I4 oV5240 *NA -a SUS Page 1 of 5 File Id: 14-00526 (Version: 3) Printed On: 8/13/2014 File Number: 14-00526 Enactment Number: R-14-0227 $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 increased annual contribution to the Miami Bayside 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 3(f)(iii) or Section 29-B of the Charter of the City of Miami, Florida, as applicable, a referendum special election is hereby called and directed tc 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 use 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 (2013), 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. 14-0227 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 provided by law, for the purpose of submitting to the qualified electors of the City of Miami, Florida, the THIS DOCUMENT IS A SUBSTITUTION L. BACKUP ORIGINAL TO ORIGIN City of Miami Page 2 of 5 File Id: 14-00526 (Version: 3) Printed On: 8/13/2014 File Number: 14-00526 Enactment Number: R-14-0227 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 $27,000,000 improvements to Bayside Marketplace including additional parking; increased contribution to Miami Bayside 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 at Bayside Marketplace YES NO (For the Measure) (Against the Measure) THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL_ BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. City of Miami Page 3 of 5 File Id: 14-00526 (Version: 3) Printed On: 8/13/2014 File Number: 14-00526 Enactment Number: R-14-0227 " 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 $27,000,000 improvements to Bayside Marketplace including additional parking; increased contribution to Miami Bayside 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, Doral, 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. Section 12. This Resolution shall become effective immediately upon its adoption and signature DOCUMENT. City of Miami Page 4 of 5 File Id: 14-00526 (Version: 3) Printed On: 8/13/2014 File Number: 14-00526 Enactment Number: R-14-0227 of the Mayor {1} APPReSVED AS 8 FORM AND CORRECTNESS: tC-VICTORIA ME DEZ ITYATT EY" 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. z 0 N J S z co 0 Z n, uJ Q w Z m F" w • ` urin 0 U_ w x N 0 Z 0 v DOCUMENT. City of Miami Page 5 of 5 File Id: 14-00526 (Version: 3) Printed On: 8/13/2014 SUBSTITUTED City of Miami Legislation Resolution: R-14-0227 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File N ber: 14-00526 Final Action Date: 6/12/2014 AR CALLI 26, 2014, OF THE C THE FOLLO EXTEND THE YEARS WITH B WATERFRONT LA RECEIVING: UPFRO YEARLY RENT OF AP PERCENTAGE RENT; M MARKETPLACE INCLUDI CONTRIBUTION TO MIAMI $400,000,000.00 PRIVATELY ENTERTAINMENT TOWER (SK THE CITY CLERK AS THE OFFICI COMMISSION WITH THE RESPECT BOOKS AND RECORDS; FURTHER, D CERTIFIED COPY OF THIS RESOLUTIO SUPERVISOR OF ELECTIONS OF MIAMI- THAN FORTY-FIVE (45) DAYS PRIOR TO T SPECIAL ELECTION. OLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), FORA REFERENDUM SPECIAL ELECTION TO BE HELD ON AUGUST OR THE PURPOSE OF SUBMITTING TO THE QUALIFIED ELECTORS Y OF MIAMI ("CITY"), FOR THEIR APPROVAL OR DISAPPROVAL OF NG REFERENDUM BALLOT QUESTION, "SHOULD THE CITY (STING LEASES FROM FORTY-SIX (46) TO NINETY-NINE (99) SIDE MARKETPLACE LLC. ON THE 16.85 ACRES OF (BAYSIDE MARKETPLACE) CONDITIONED ON THE CITY T PAYMENT OF $10,000,000.00; MINIMUM GUARANTEED OXIMATELY $3,516,002.00 (WHICH ESCALATES); IMUM $27,000,000.00 IMPROVEMENTS TO BAYSIDE ADDITIONAL PARKING; INCREASED YSIDE FOUNDATION; AND DEVELOPMENT OF A F► DED 1,000 FOOT OBSERVATION AND SE MIAMI); DESIGNATING AND APPOINTING REPRESENTATIVE OF THE CITY O THE USE OF VOTER REGISTRATION ECTING THE CITY CLERK TO CAUSE A TO BE DELIVERED TO THE DE COUNTY, FLORIDA, NOT LESS DATE OF SUCH REFERENDUM WHEREAS, City of Miami ("City") and Bayside Marketplace, LC ("Developer") are the current landlord and tenant, respectively, for certain premises located at :.yside Marketplace in Miami, Florida, as more particularly described in the Retail Lease and Gar: ee Lease (the "Leased Property"); and WHEREAS, the City and the Developer desire to modify certain provins of the Retail Lease and Garage Lease; and WHEREAS, in exchange for extending the term of the Garage Lease by fift hree (53) years and the right to build additional parking spaces, the current annual minimum base ren •f $10,000.00 will be increased to $916,920.00 and the percentage rent calculation will be changed fra percentage of the Developer's profits, to fifteen percent (15%) of their gross revenues above a naturbreakpoint of $6,112,800.00; and WHEREAS, in exchange for extending the term of the Retail Lease by fifty-three (53) yes, increasing the cap on refinancing to eighty percent (80%) of the appraised value of the impro ents and increasing the maximum allowable square footage to include the development of a 1,000 fo• tall observation and entertainment tower known as Skyrise, the City will receive an up -front payment o $10,000,000.00 plus three percent (3%) of the first $125,000,000.00 in refinancing for a total payme 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: 2) Printed On: 8/13/2014 SUBSTITUTED e Number: 14-00526 Enactment Number: R-14-0227 $140,000.00 and the percentage rent calculation will be changed from a calculation involving a perc tage of the Developer's profits, which the City has received $0.00 over the life of the Lease, to six pe ent (6%) of their gross revenues above a natural breakpoint of $25,666,666.00; a minimum base re for the Skyrise Tower in the amount of $1,059,082.00 and 1.5% of the Gross sales of SkyRise o -r a breakpoint; and an increased annual contribution to the Miami Bayside Foundation to $350,000.0 NOW, THE FORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The re als and findings contained in the Preamble to this Resolution are adopted by reference and incorpor- -d as fully set forth in this Section. Section 2. In accordan the City of Miami, Florida, as be held in the City of Miami, FI the purpose of submitting to the of the proposed lease amendment with the provisions of Section 3(f)(iii) or Section 29-B of the Charter of plicable, a referendum special election is hereby called and directed to 'da, from 7:00 A.M. until 7:00 P.M., on Tuesday, August 26, 2014, for alified electors of the City of Miami for their approval or disapproval s set forth in the Ballot Question. Section 3. The referendum Specia lection shall be held at the voting places in the precincts designated, all as shown on the list attac -d hereto and made a part hereof and referred to as Exhibit No. 1 or as may be designated by the Sups visor of Elections of Miami -Dade County, Florida, in conformity with the provisions of the general ws of the State. The Precinct Election Clerks and Inspectors serve at said polling places on said ection date shall be those designated by the Supervisor of Elections of Miami -Dade County, ' •rida, for such purpose in accordance with the general laws of the state. A description of the regi ation books and records which pertain to election precincts wholly or partially within the City of Miami, - d which the City of Miami is hereby adopting and desires to use for holding such referendum spec! . election is as follows: all registration cards, books, records and certificates pertaining to electors of - City of Miami and established and maintained as official by the Supervisor of Elections of Mi. ' i-Dade County, Florida, in conformity with the provisions of the general laws of the State of Florida, ar ereby adopted and declared to be, and shall hereafter be recognized and accepted as, official registr. 'on cards, books, records and certificates of the City of Miami. Section 4. In compliance with section 100.342, Florida Statutes 013), the City Clerk is hereby authorized and directed to publish notice of the adoption of the herein -solution and of the provisions hereof, at least twice, once in the fifth week and once in the third week . for to the week in which the aforesaid referendum special municipal election is to be held, in newspap (s) of general circulation in the City of Miami, Florida, which notice shall be substantially in the followin• orm: "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. un.' 7:00 P.M. in the City of Miami, Florida, at the polling places in the several election precincts designates • the Board of County Commissioners of Miami -Dade County, Florida, as set forth herein, unless of rwise provided by law, for the purpose of submitting to the qualified electors of the City of Miami, Ffori•. the City of Miami Page 2 of 5 File Id: 14-00526 (Version: 2) Printed On: 8/13/2014 SUBSTITUTED File Number: 14-00526 Enactment Number: R-14-0227 following question: "Sh s Id the City extend the existing leases from 46 to 99 years with Bayside Marketplace LLC on the 16.8 -cres of waterfront land (Bayside Marketplace) conditioned on the City receiving: upfront payme of $10,000,000; minimum guaranteed yearly rent of approximately $3,516,002 (which escalates percentage rent; minimum $27,000,000 improvements to Bayside Marketplace including additional p king; increased contribution to Miami Bayside Foundation; and development of a $400,000,001 •rivately funded 1,000 foot observation and entertainment tower (Skyrise Miami)?" By order of the Commission of the City of Miami, Florida. City Clerk list of City of Miami polling places follows: sert list of City of Miami polling places.) YES For the Measure) NO (Aga 'st the Measure) Section 5. The official ballot to be used at said •ferendum Special Election shall be in full compliance with the laws of the State of Florida with pect to absentee ballots and to the use of the mechanical voting machines or the Computer Election stem, and shall be in substantially the following form, to wit: "OFFICIAL BALLO REFERENDUM SPECIAL EL TION TUESDAY, AUGUST 26, 20 FOR APPROVAL OR DISAPPROVA. OF THE FOLLOWING QUESTION: Proposed amendment to existing leases of city -owned waterfront land at Bayside Marketplace YES NO (For the Measure) (Against the Measure) City of Miami Page 3 of 5 File Id: 14-00526 (Version: 2) Printed On: 8/13/2014 SUBSTITUTED File Number; 14-00526 Enactment Number; R-14-0227 Should the City extend the existing leases from 46 to 99 years with Bayside Marketplace LLC on the 1. ;5 acres of waterfront land (Bayside Marketplace) conditioned on the City receiving: upfront pay ,ent of $10,000,000; minimum guaranteed yearly rent of approximately $3,516,002 (which escal.'es); percentage rent; minimum $27,000,000 improvements to Bayside Marketplace including additio .'1 parking; increased contribution to Miami Bayside Foundation; and development of a $400,000,i00 privately funded 1,000 foot observation and entertainment tower (Skyrise Miami)?" Section 6. e form of the ballot shall be in accordance with the requirements of general election laws. Electors de ` ing to vote to approve the Question described above, shall be instructed to mark in the appropriate pla.- next to the word "YES" within the ballot containing the statement relating to the Question. Electors d ring to vote to disapprove the Question described above, shall be instructed to mark in the appropriate •lace next to the word "NO" within the ballot containing the statement relating to the Question. Section 7. The City Clerk hall cause to be prepared absentee ballots containing the Question set forth in Section 5 above for the se of absentee electors entitled to cast such ballots in said referendum Special Election. Section 8. All qualified electors o aid City shall be permitted to vote in said referendum Special Election and the Supervisor of Election of Miami -Dade County, Florida, is hereby requested, authorized, and directed to furnish, at the ost and expense of the City of Miami, a list of all qualified electors residing in the City of Miami as sh. n by the registration books and records of the Office of said Supervisor of Elections and duly certify ' - same for delivery to and for use by the election officials designated to serve at the respective p ling places in said election precincts. Section 9. For the purpose of enabling person o register who are qualified to vote in said referendum special election to be held on August 26, 014, and who have not registered under the provisions of the general laws of Florida and Chapter of the Code of the City of Miami, Florida, or who have transferred their legal residence from one voti ' precinct to another in the City, they may register Monday through Friday, from 8:00 A.M. to 5:00 P. at the Miami -Dade County Elections Department located at 2700 Northwest 87th Avenue, Doral, ' .rida, within such period of time as may be designated by the Supervisor of Elections of Miami -Dade C. nty, Florida. In addition to the above place and times, qualified persons may register at such branch o `"ces 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 des , nated by the Supervisor of Elections of Miami -Dade County, Florida. Section 10. Todd B. Hannon, the City Clerk of the City of Miami, Flo •a, or his duly appointed successor, is hereby designated and appointed as the official representative -'f the Commission of the City of Miami, Florida, in all transactions with the Supervisor of Elections of Mi. i-Dade County, Florida, in relation to matters pertaining to the use of the registration books and 'e holding of said referendum special election. Section 11. The City Clerk shall deliver a certified copy of this Resolution to the upervisor of Elections of Miami -Dade County, Florida, not less than forty-five days prior to the date o he herein referendum Special Election. Section 12. This Resolution shall become effective immediately upon its adoption and s ature City of Miami Page 4 of 5 File Id: 14-00526 (Version: 2) Printed On; 8/13/201 SUBSTITUTED File Number: 14-00526 Enactment Number: R-14-0227 f the Mayor.{1} AP "OVED AS TO FORM AND CORRECTNESS: VICTORIA ENDEZ CITY ATTO' \ EY Footnotes: {1} If the Mayor does of sign this Resolution, it shall become effective at the end of ten (10) calendar days from the • -te it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective im ' ediately upon override of the veto by the City Commission. City of Miami Page 5 of 5 File Id: 14-00526 (Version: 2) Printed On: 8/13/20