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
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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.
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