HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-14-0243
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 14-00524
Version: 2
File Type: Resolution Status: Passed
Reference: Controlling Body: Office of the City
Clerk
File Name: Lease Amendment - Bayside Retail
Requester: Department of Public Facilities Cost:
Introduced: 6/2/2014
Final Action: 6/26/2014
Title: 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, A FOURTH AMENDMENT TO THE AMENDED AND RESTATED LEASE
AGREEMENT, RETAIL PARCEL ("AMENDMENT"), BETWEEN THE CITY OF MIAMI ("CITY")
AND BAYSIDE MARKETPLACE, LLC, A DELAWARE LIMITED LIABILITY COMPANY,
SUCCESSOR BY MERGER TO BAYSIDE CENTER LIMITED PARTNERSHIP ("DEVELOPER"), IN
SUBSTANTIALLY THE ATTACHED FORM, FOR CITY -OWNED PROPERTY LOCATED AT 401
BISCAYNE BOULEVARD, MIAMI, FLORIDA, TO MODIFY CERTAIN PROVISIONS OF THE
LEASE AND RECOGNIZE THE SUB -GROUND LEASE TO THE SKYRISE MIAMI, LLC
("SKYRISE") TOWER SUBLEASE, AS STATED HEREIN, TO INCLUDE THE EXTENSION OF
THE CURRENT LEASE TERM, PROVIDED ALL RENEWAL OPTIONS ARE VALIDLY
EXERCISED, BY FIFTY-THREE (53) YEARS; AMENDING THE RENTAL PAYMENTS AND TO
INCLUDE THE TOWER RENT AND TOWER PERCENTAGE RENT AS DEFINED IN THE
AMENDMENT; ESTABLISHING THE MINIMUM BASE RENT PAYMENTS ON THE EFFECTIVE
DATE; REQUIRING RENT ADJUSTMENTS BASED ON APPRAISALS CONDUCTED EVERY TEN
(10) YEARS FROM THE EFFECTIVE DATE FOR SKYRISE AND UPON THE FIRST RENEWAL
TERM FOR DEVELOPER; ESTABLISHING A TRANSFER FEE FROM THE DEVELOPER AND
SKYRISE; SUBJECT TO APPROVAL OF THE AMENDMENT BY REFERENDUM; WITH
ADDITIONAL TERMS AND CONDITIONS AS MORE PARTICULARLY SET FORTH IN THE
AMENDMENT, WHICH TERMS MAY BE AMENDED BY THE CITY MANAGER AND THE CITY
ATTORNEY AS MAY BE NECESSARY IN ORDER TO MEET THE BEST INTERESTS OF THE
CITY.
Sponsors:
Notes:
Indexes:
Attachments: 14-00524 Summary Form.pdf,14-00524 Back -Up Documentation.pdf,14-00524
Legislation.pdf,14-00524 Exhibit,14-00524 Exhibit SUB.pdf,14-00524-Submittal-Javier
Betancourt.pdf,14-00524-PowerPoint Presentation -Sky Rise Miami.pdf,14-00524-Submittal-Al
Crespo.pdf,
History of Legislative File
Version: Acting Body: Date: Action: Sent To: Due Date: Return Date: Result:
1 City Commission 6/12/2014 DEFERRED Pass
1 Office of the City 6/12/2014 Review Pending
Attorney
City of Miami Page 1 Printed on 1/4/2018
City of Miami
Master Report
Enactment Number: R-14-0243
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
2 City Commission 6/26/2014 ADOPTED WITH Pass
MODIFICATIONS
2 Office of the Mayor 7/7/2014 Signed by the Mayor Office of the City
Clerk
2 Office of the City Clerk 7/7/2014 Signed and Attested
by City Clerk
2 Office of the City 7/20/2015 Reviewed and
Attorney Approved
Action Note: MODIFICATIONS MADE TO EXHIBIT
City of Miami Page 2 Printed on 1/4/2018