Loading...
HomeMy WebLinkAboutSummary FormFILE ID: Date: 11/6/14 AGENDA ITEM SUMMARY FORM 14-01097 Requesting Department: Dept, ofReal-Estate & Asset Mont. Commission Meeting Date: 11/20/14 District Impacted: 2 Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance I-1 Discussion Item 0 Other Law Department Matter ID No. Subject: A Resolution approving the restoration and operating plan for Miami Marine Stadium Purpose of Item: A Resolution approving the restoration and operating plan for Miami Marine Stadium as presented by the Friends of Miami Marine Stadium, Inc., a 501(c)3 Non-profit Corporation, in accordance with the Memorandum of Understanding dated May 15, 2012; further directing the City Administration to prepare the necessary documents, in a form acceptable to the City Attorney, establishing the legal relationship necessary to effectuate said purpose. Background Information: See attached supplement. 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: CHI Project No: NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds? Start Up Capital Cost: Maintenance Cost: Total Fiscal Impact:. $ CEP Final Approvals (SIGN AND DATE t� Bud .� �-- �--- ---� '1 ! l o / l l If usin isi:feceiYiug.64italituiila Grants Purchasing Chief .71'.° / Risk Management Dept. Director City Manage Page 1 of 2 Background Informations: OrpMarch;LL8 2.0:1 ,the•C t..Con n fission adopted. Reso'lutiori ] 'a':12=0080 at.thoriziifg''the-Cit Marisger't execute a. Memorandum of Understanding ("MOU"), for a two (2) year period, between the City, the Miami Sports and Exhibition Authority ("MSEA") and the Friends of Miami Marine Stadium, Inc., a 501(C)3 non- profit corporation ("Friends"), establishing the City's participation in a public -private partnership for the restoration of the Stadium, and development of an operating plan for the overall development and public use of the Stadium, The MOU established a Steering Committee consisting of a thirteen (13) member task force led by the City's Planning Director to identify uses to maximize the utilization and economic benefit of the redevelopment of this public area for the City and its residents by developing a viable operating plan for the restoration of the Stadium. On December 18, 2012, the Steering Committee adopted Resolution: MMSSC-R-12-001, recommending that Friends receivea cognizable real property interest in Marine Stadium for the purposes of fundraising and furthering the development of the operating and restoration plan. On July 11, 2013, based upon the recommendation by the Steering Committee, the City Commission adopted Resolution No. R-13-0282, confirming and approving the "Evaluation Area," as the area needed to generate sufficient revenue for the viable operation of the Miami Marine Stadium, in accordance with the MOU. At the same Commission meeting, it was agreed that Friends would return to the City Commission with a more finely detailed operation and restoration plan for their consideration and approval. During this time, the Friends have undertaken a significant fund raising effort, presented a plan to address construction and operations of all the elements of their proposed plan, and secured a commitment to host the Miami International Boat Show at the Miami Marine Stadium premises beginning in February 2016, the commitment of which is time -sensitive. The City Manager, based on the attached proposal prepared by the Friends, recommends that the City Commission approve the restoration and operating plan ("Plan"), and further make the determination that the fundraising and financial plan presented is sufficient to proceed with the Plan. Page 2 of 2