HomeMy WebLinkAboutSummary FormDate: 5/4/2015
AGENDA ITEM SUMMARY FORM
15-00475
FILE ID:
Requesting Department: Department of Real Estate and Asset Management
Commission Meeting Date: 5/14/2015 District Impacted: 1
Type: Z Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Law Department
Matter ID No.
15-1012
Subject: Lease Agreement ("Agreement") with TMSA ALTIS 5040, LLC ("Lessor") for the use of 9,280 square feet
of office space located at 5040 NW 7th Street in Miami, Florida, for the use of the Internal Affairs Division of the
City of Miami Police Department
Purpose of Item:
A Resolution of the City of Miami Commission, with attachment(s), authorizing the City Manager to execute a
lease agreement ("Agreement"), in substantially the attached form, between the City of Miami ("City") and
TMSA ALTIS 5040, LLC ("Lessor"), for the use of Approximately nine thousand two hundred eighty (9,280)
square feet of office space, located at 5040 NW 7th Street, Miami, Florida, for the operation of the Internal
Affairs Division of the City's Police Department, with a monthly rental fee not to exceed $17,786.66 ($23.00 per
square foot), all inclusive and with annual increases, for a period of seven (7) years and five months, with an
additional five (5) year option to renew; Allocating funds from the City Police Department's budget, with terms
and conditions as more specifically set forth in said agreement.
Background Information
See Supplemental Sheet.
Budget Impact Analysis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No: 00001.190001.544000.0000.00000
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: Not to exceed $213,439.92 for year 1
Final Approvals
(SIGN AND DATE)
CIP N/A
If using or receiving capital funds
Grants N/A Risk Management
Purchasing Dept. Director
Chief City Managet`
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Subject: Lease Agreement ("Agreement") with TMSA ALTIS 5040, LLC ("Lessor") for the use of 9,280 square feet
of office space located at 5040 NW 7th Street in Miami, Florida, for the use of the Internal Affairs Division of the
City of Miami Police Department
Background Information:
The City of Miami ("City") Police Department's Internal Affairs Division ("Division") is currently in holdover status
in their current office space consisting of nine thousand (9,000) square feet, located at 1313 Northwest 36
Street, Miami, Florida, and the landlord at said location wishes to lease the same to another tenant.
The City's Department of Real Estate and Asset Management, along with NAI Miami, reviewed the current
inventory of office space(s) on the market, and were able to locate a suitable location that fits the needs of the
Division at a rate not to exceed $23.00 per square foot, which is inclusive of all rental charges as well as
electricity and water for the space.
The City and TMSA ALTIS 5040, LLC ("Lessor"), wish to enter into this Lease Agreement ("Agreement") for a
period of seven (7) years and five (5) months, with an option to renew for an additional five (5) years, subject
to the rent increases provided for in the Agreement.
The Agreement also calls for a construction allowance of not Tess than $15.00 per square foot, or a total amount
of $139,200.00, to be utilized for the building out of said space, if necessary to meet the needs of the Division;
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