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HomeMy WebLinkAboutExhibit - Agreement V2INTERLOCAL AGENCY AG MENT BY AND BETWE THE. CITY OF MIAM ' IDA AND SOUTH FLORIDA REGIONAL T SPORT EFFECTIVE N AUTHORITY TABLE OF CONTENTS Article: 1. Recitals and Findings 2, Purpose 3, Contributions 4, SFRTA Duties 4,1 4,2 4.3 Bank Accounts and Baid Record Inspection 4,4 Funding Conditions, - undmg Limitations 4.5 Encicniniiication lioiiConstruction Claims; Bonding; Lie, 4:. 4.6 SFRTA Ta1sParts at ' , uipment Maintenance 4.7 SFRT ' Anger Train q414.1, 4,8 IV1ininirn Standciid of Operations ,i, ' 'OT=:• 4,9 Min 'Thn Service Levels 4.10 SFRTAS1'R1Athptnsion " 5, Sel dule and MiofRilhursements 6. In 0.111sation 7, Teriel - 8, - Notiab Entire 'Aeemeni ,..., mend tiP ., A kv Arm and bjtetive Date lyal of Certain Obligations Mverning L4,4rnd Venue; ATtorney's Fees '7erability Permits, Inspections, Reviews, and Approvals Accounting and Public Records ,tosts, an,Fees resentatr ,'1nd Warranties of SFRTA ;kyinancially Solvent 14uthorization edmpliance with laws aiver ssignments and Sales iscrimination WIiiU Hazardous Materials Assumption of Risk 22, No Partnership or Joint Venture 23, Interpretation 24, Paragraph Headings 2 Exhibits/Attachments: Composite Exhibit A — Descriptions of the total Project and of the Components within the City's corporate limits being funded by the City and Sketch/Legal Description of Project Area/Compon.ent locations of Components of the Project being funded by the City, Exhibit B — City Commission Resolution No. , adopted , 2015 Exhibit C SFRTA Governing Board minutes containidTEdoption of Agreement , 2015 Exhibit D Improvements Budget Exhibit E — Contribution Spreadsheet Exhibit F Insurance Requirern 3 INTERLOCAL AGENCY AGREEMENT THIS INTERLOCAL AGENCY AGREEMENT ("AGREEMENT") made and entered into this day of , 20 (but effective as of 2015 being the "Effective Date"), by and between the CITY OF MIAMI, FLORIDA, a municipal corporation of the STATE OF FLORIDA, hereinafter referred to as "City," and the SOUTH FLORIDA REGIONAL TRA TATION AUTHORITY, pursuant to Section 343,53, Florida Statutes, an cy ed by the State of Florida (doing business as and hereinafter referred('SFRTA"), WITNL`g$�TH WHEREAS the City is a' l i ecognized al corporation of t State of Florida; and WHEREASittfat.to Sectid to carry out pow ` i abilities required cooperate with other 1 SFRTA has the ability ansporta. authority a provide by state law; and t to it N .t. tutory authority, operates a passenger `Tri-Rail' ; and entered into upon the authority granted to the rida Statutes which permits local governmental units the most efficient use of their powers by enabling them to ities on a basis of mutual advantage and thereby to provide services and facilities in a manner and pursuant to forms of governmental organization that will accord best with geographic, economic, population, and other factors influencing the needs and development of local communities; and WHEREAS the City has determined that it would be in its best interest to 4 facilitate travel between the City and other urban centers across South Florida for the benefit of its City residents and visitors by supporting SFRTA's extension of its passenger commuter rail service to the Tri-Rail Downtown Miami Link Project (hereinafter, the "Downtown Miami Link Project" or the "Project"); and WHEREAS, in order to implement the Tri-Rail Downtown Miami Link Project, the City and SFRTA wish to facilitate the design struction and financing of additional platform improvements to the All Abo � 5 ("AAF") proposed Miami Central Station in order to accommodate theNDowntownami Link Project. The additional improvements, which are located tirely within the City its, shall consist of: (i) a sixty two thousand (62,09 square foot oi; , `d associated tralage for Tri- Rail commuter trains; (ii) a mez di' el consistii g 4 columns and related structures which support the Tri- ail platforn n d a s ' gd trae and (iii) related Miami Central Station grits in ' ing, but )i d to t 5`x ons of elevators, escalators, support spaces, andsylage ai, all as m ;particularly described in Exhibit "A" (the "Prof. stimated that the required design, construction and `bvements for the Downtown Miami Link Project will cost an estimated Flit ,'lliontr Hundred Thousand and No/100 Dollars ($50,400,000,00) (the "Estimated Cost" WHEREAS, the City has, by proper City Commission Resolution No. adopted on , 2015 (attached hereto and by reference made a part hereof as Exhibit "B"), authorized its officer(s) to enter into this AGREEMENT in order to accomplish the City's obligations hereunder in connection with the Project; and 5 WHEREAS, SFRTA has, by proper authority of its Governing Board adopted this Agreement on (minutes are attached hereto and by reference made a part hereof as Exhibit "C"); and WHEREAS, it is an express condition precedent to disbursement or payment of any funding by the City under this Agreement that the funding committed by the State of Florida through itself and its various agencies and e::ii (collectively, the "State"), Miami -Dade County through itself and its various ci ' : d entities (collectively, the "County"), the Bayfront Park Management the Downtown* , velopment Authority ("DDA"), the Omni Community Redeye i h ent Agency (OmniRA ), and the Southeast Overtown Park West ` o munity Re �� < ent Agency ("SL. PW CRA") have been memorialized in an agr err e t approved and cuted in accordance with each agency or entities leg41y .equired au SFRTA is (a) in of c` to comply with Article VII, lorida ("Constitution"), that the City's ents sha a}sed solely for the design and construction of ther\�� ooject Inapro f ents aexcluding legal, lobbying, and operation and maintenance= is ("Eligibl Aosts"); and (b) that should the City determine to reimburse itself for such fund% o roject Improvements, then the City Commission shall by separate resolution deci i such intent to reimburse through a future borrowing from tax- exempt bonds; and NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and SFRTA agree as follows: 1. Recitals and Findings. The foregoing recitals and findings are hereby acknowledged as true and correct, and are incorporated herein by reference. 2, Purpose,. The purpose of this Agreement is to increase the general welfare of the residents of the City and alleviate the attendant burden on both the City's economy and quality of life caused by traffic congestion. 3. Contributions. 3.1 Funding Amount, ReimbuS of Project Costs, The City agrees to provide SFRTA with funds in an it not to exe. fir total of Eight Million Ninety -Seven Thousand Thirty and'9/100 Dollars Contribution") for eligible costs 8, r 030.00) ("City s outlined he 4 8 for the desI U onstruction and financing of the Project t. . ents. City shall disburse the City Contribution to SFRTA in the rnaniie et tort t is Se and Section 6. The City shall incur no li l� ty fora ,costs in 6% ss � ie 7; ontribution unless there has been a duly author r ncrea 'approved ie City Commission, In the event the actual bPzoaec£ u rove han the Estimated Cost, then the City sha 1 l"oentitled to shag suc�o savings in an amount equivalent to its proportionate contrrbutrot the Estirnati ost or th Project Improvements. Repayment of any funds due and owing 'owe City f uch cost savings shall be off -set against the amount of any portion of the City Crlj tion owed by the City, The City will contribute revenues in the total amount of the City Contribution to SFRTA over a term of three (3) years which will be used to underwrite the Eligible Costs. No advance payments, future advances, or further funding from the City Contribution will be made, The City Contribution shall be made in the following 7 installments during the specified City fiscal years: (1) Three Million Dollars and No/100 ($3,000,000.00) from Transportation Tax proceeds and One Hundred Seventy -Two Thousand Eight Hundred Fifty and No/100 Dollars ($172,850,00) in DRI Supplemental Transportation Fees in Fiscal Year 2015-2016; (ii) Two Million Five :Hundred Thousand and No/100 Dollars ($2,500,000,00) from Transportation Tax proceeds and Two Hundred Fifty -Six Thousand Six Hundred Five and No/J llars ($256,605,00) in DRI Supplemental Transportation Fees in Fiscal Year and (iii) One Million Four Hundred and Seventeen Thousand andA 'MOO Dollar „$1,417,000,00) from Transportation Tax proceeds and Seven ITU red Fifty Thousand F14/ undred Seventy- ental TranspO.Aon Fees in Five and No/100 Dollars ($750,525.00) from D; Fiscal Year 2017-2018. To the 64" years shall be paid from,any remainh: Oega l!T support the debt6nylce f City's S ribution in any of the three (3) Table r6:40 ties previously pledged to ends Series 2007 and Series 2009 (Street and Sidlk Ir vement PrO,m) (collectively, the "Street Bonds"), the be4, Stre0 <onds and su6, ' bordina, litifeity, to such debt service payments for the bution shall only be payable each year from those legally a attable remainintAT venueS4fter all debt service has been paid in full on the Street Bonds, 'el reimbt.' ent payments paid from pledged revenues shall not be 4j paid to SFRTA unti e July 1st Street Bonds debt service payments in each of the aforementioned fiscal years for which installment payments are being made pursuant to this Agreement. The City Contribution shall only be utilized to underwrite Eligible Costs for the Project Improvements, This is an express condition of the City Contribution, and its violation shall be just cause for immediate termination of this Agreement and 8 discontinuance of City funding, Any portion of the City Contribution not reimbursed during the above listed fiscal year shall be carried forward by the City and made available to SFRTA for reimbursement in future fiscal years consistent with the terms set forth in this section, 4, SFRTA Duties, SFRTA will use the monies provided by the City to design and construct Project Improvements pursuant to CiJ Resolution R-15-0156, adopted , 2015, 4,1 Permits Ins )ections Miami City Commission SFRTA intends to procure the design and constrv, en of the Project Irn source by entering into a contract with the Project Improvements permitting and NtIstructing fit part, SF .„,• necessary p" ,•-N, „, , .,- ,eva0- &S,Ociai -,-' rpiovementsti ire that ublic age, oews and A Rea ted „., Acc ,nutina antublic Records. SFRTA will be responsible for ,ments as a sole ner of the p on which le entity that will be designing, ;pject Improvements are a eIiiibjSFRTA obtains any and all approvals, inspections, reviews, and .,,,and the construction of the .Project sepaiatetecountins General Mob. or monies received from the City in accordance with the 'Accounting Principles ("GAAP") and the Governmental Accounting Standards Board ("GASB"), SFRTA understands and agrees that it shall comply with all applicable requirements in Chapter 119, Florida Statutes also referred to as the "Florida Public Records Law," 4,3 Bank Accounts and Bank Record Inspection. SFRTA will 9 permit auditors from the City to inspect its bank records and accounts containing the City Contribution, SFRTA will allow access to these records and accounts from the initiation of the Downtown Miarni Link Project until five (5) years after the Project Improvements are completed, 4,4 Funding Conditions; Funding Limitation, The Parties also agree that this Agreement shall be conditioned n" approval of all applicable agreements for the Project Improvements i i' (i the sole source agreement between AAF and SFRTA for the Pioj� lmprovemeert ,ii) the loan agreement between an AAF affiliate or other arty lender and SFRk chfor a loan for the cost of some of the Pro eoct Improve n�a , ( i) the agreement tvueen AAF, FECR, FDOT and SFR 1 A. `o t roj ect pvements and the operations and maintenance on the FECR o dor, (iv) separate agreement with FECR (if necessary, other funding the,'. (the tenstruetion" does not include the preparation of construction documents or fit" ng of the same for the Project Improvements) within two (2) years of the date of the execution of this Agreement, this Agreement shall be null and void. Additionally, in the event that any of the conditions and approvals specified in this Section are not complied with, this Agreement shall be null and void. ,pd (v) all other funding with e Project Improvements, less the amount such Project Improvements, A listing s and amounts is attached hereto as Exhibit "E". In hysical construction of the Project Improvements 10 4.5 Indemnification From Construction Claims; Bonding; Liens, SFRTA and its agents, contractors, assigns, servants and representatives will not hold the City or any of the City's officials, officers, employees, agents, contractors, assigns, servants, and representatives responsible for any delay claims, claims for or change orders, supplemental or additional work, and/or any other claims whatsoever that are related to or arse or are connected with any work, materials, equipment, supplies or semu ° i occur during construction of fiW the Downtown Miami Link Project vements. � TA agrees that it shall comply with the requirements of on 255.05, Floridatitgs. SFRTA will not allow any Mechanics lens or other u os common law lie ` Ito attach to the Downtown Miami L% et Improv ants which are publicly owned, Further, SFRT shall use d` eat, go aith s to seek the removal or release a M' s Liens t�`stat� r common law liens which may have been o non -pubs ly owned Project Improvements that may wn Miami Linlc service to the Miami entral Statio 4.6 SFRi1A Tracarts and Equipment Maintenance, SFRTA, its agenfsecontrac ' '`ill be responsible for maintaining railroad tracks and all materials, pal c her equipment used in conjunction with the development of the proposed Miami Central Station. The City will not be responsible for any failure to adhere to any applicable federal, state, or local law, code or regulation as it pertains to the track, parts and equipment used in operating the Tri-Rail Downtown Miami Link service, 11 4.7 SFRTA Passenger Train Cars, The City is not responsible for funding SFRTA operations or maintenance of SFRTA's facilities or passenger train cars operating as part of the Downtown Miami Link service. 4,8 Minimum Standard of Operations. SFRTA will operate and maintain the Tri-Rail passenger commuter rail service in compliance with the applicable Federal Regulatory Administration regulations set forth in Title 49, Subtitle B, Code of Federal Re CFR"), as well as all other applicable federal, state, and local 14 the same rn be amended from time to time. 4 - 4.9 MinimumServiee LI "4. Agreement, SFRTA shall th,tatt.,, t less th to the Miami C ntral Station 9,750 pacf leers ON oughout the kAltn of this twenty-six (26) weekday trains er capacity of not less than (16A-lekend/holiday trains into the Miami Centralk.4ation 11. a cumulatco passenger capacity of not less than 6,000 day/h during the term of the Agreement shall be approved b;:p City CorissioifIiien presented with information by SFRTA t"‘ un Service Lever). Reductions to evidenctn 'ridership demand for the Tri-Rail Downtown Miami Link service of grin ten percent (10%) over any five (5) year period; or (ii) reduction in annual operating support greater than ten percent (10%) over the prior year's budget from public funding sources which necessitate service reductions, The Minimum Service Level will be restored when the funding is restored, 12 5. Schedule and Manner of Reimbursements, Upon execution of the Agreement, SFRTA shall furnish the City with a copy of the estimated budget for the Project Improvements ("Project Improvements Budget") for the Eligible Costs attached and incorporated as Exhibit "E", and, thereafter, shall similarly furnish the City with any and all revisions thereto, SFRTA shall also furnish tp `l e City a schedule of values ("Schedule of Values"), identifying quarterly desi t c t struction milestones and the anticipated construction expenditures payout( dule for suc lestones for the Project Improvements not later than 30 days of si TA's receipt of the `66 e and any future amendments thereto. Quarte y disbursem of 1 h City Contributio` :for Project Improvements for Eligible Cost"ha:"' based up��`o `' be .invoices provided by SFRTA accompanied by copies of paid AAr ent Request"). A proper invoice as defin% Scetii 8,72(8), Statut s list be submitted before each payment request t e (ty Manager his/her authorized designee. Each Reiff b also in e a eoppy of all payments made to contracted firm scuxing the rexm� e eat', d. Red rsement Rests shall commence on or after the 1st day of October, 2015, For the "sg5-2016�1 year ending on the 30th day of September, 2016, total quarterly disbursem j bye the City of the City Contribution shall not exceed the following rchnbursements: Three Million One Hundred Twenty -Seven Thousand Eight Hundred and Fifty Dollars ($3,127,850,00), For the 2016-2017 fiscal year, which fiscal year shall commence on the 1st day of October, 2016, and end on the 30th day of September, 2017, total quarterly disbursements by the City of the City Contribution shall 13 not exceed Two Million Seven Hundred Fifty -Six Thousand Six Hundred and Five Dollars ($2,756,605.00). For the 2017-2018 fiscal year, which shall commence on the 1s` day of October, 2017, and end on the 30th day of September, 2018, total quarterly disbursements by the City of the City Contribution shall not exceed Two Million One Hundred Sixty -Seven Thousand Five Hundred Seventy Five and No/100 Dollars ($2, 167,575,00), Any City Contribution not disbursed duri .}e above fiscal years shall be carried forward by the City, for a total carry forw4l to exceed two (2) years, for reimbursement in future fiscal years co ;it with the- .ms set forth herein, Notwithstanding the foregoing, the amou `F,the City Contribntio t.forth in Section 3.1 above will not be increased, 6. Indemnification, xtent alloyd by Section 768.28, Florida �56 F Statutes and the law, a. t State of Aida, SI4, 4 shall emnify, defend, and hold harmless, at itssa .e cost an.xpense, , its f ers, employees, agents and f instru mentalities from ,;� air � bilities, . es or damages, including attorneys' fees ancc sfs of 5 cfrzse the ,oi its officers, employees, agents, or inst ult of claims, demands, suits, causes of actions or proceedingsnature arising out of, relating to or resulting from the performance of great by SFRTA or its officers, employees, officials, agents, servants, partners, prals or contractors. In no event shall the City be liable or responsible for any and all contractual, injury, loss, destruction, or damage claims to the Project Improvements funded, in part, by the City Contribution, nor shall the City be liable for any and all contractual or injury, loss, destruction or damage claims resulting from the operation of Tri-Rail Downtown Miami Link service at Miami Central Station. 14 This indemnification by SFRTA shall not apply to negligent acts or omissions of the City, its officers, employees, or officials, SFRTA shall pay all claims and losses in connection therewith and shall investigate and defend all claims, suits or actions of any kind or nature in the name of the City, where applicable, including appellate proceedings, and shall pay all costs, judgments, and attorneys' fees which may issue thereon, SFRTA expressly agrees and understands that any insurance pro it provides shall in no way limit the responsibility to indemnify, keep and s ss and defend the City, its officers, employees, agents and instrumental 's herein proV. 7, Termination. This Agree'?j t may be terminated 1sther party, upon the grounds and after the prose, ures provided t it ter party ma fbrminate the Agreement for cause and. upon 1 of writie once to the other party, "For cause" shall mean any of the folio ing aetio ';( a slibss ial failure by SFRTA to perform the deleted' duti accorda�e.,nent over a period of more than one (1) year ait ure of eiil ;tparty 'to comply with a material term, cond4 Al.n.z lima onq ors tkI t< on Ipplicable to its performance or duties pro for in thierne f, Mowing written notice of default by the other party which is `4 cured within ``. ety (9clays of receipt of such notice; or iii failure to comply with a federal, state, or local law, ordinance, rule, regulation or code governing the p ' ante of this Agreement for which a cure is not commenced within one hundred and eighty (180) days of receipt of such notice. The aforementioned cure periods shall be adjusted or tolled for a reasonable period of time not to exceed thirty (30) days from the end/conclusion of a Force Majeure Event, A "Force Majeure Event" shall mean any event or condition beyond the control of SFRTA or the City, as 15 applicable, including, without limitation, strikes, labor disputes, acts of God (expressly including, but not limited to, tropical storms, hurricanes, and earthquakes), the elements, governmental restrictions, regulations or controls, enemy action, acts of terrorism, wars, riots, major upheaval, civil commotion, fire, casualty, or accidents, which cause delay, In the event of termination by the City, the City shall reimburse SFRTA for such portion of the City Contribution equivalent to the Eligible Cost $ -red by SFRTA prior to the date of termination. 8. Notice. Any notices to be give.'ereunder shati z;.n writing and shall be deemed ,to have been given if sent by h' :.delivery or recognize y vernight courier p� (such as Federal Express), or if, by certified i e with return re ait requested, addressed to the party for whom ed, at the parties designate the following as therespecty If to the City: City Manager 3500 Pax Arse icon Di'iu City MizaFL 33133. With City of Miaj City Attorney Miami Riverside' 444 S.W. 2" Aven Miami, FL 33130 If to SFRTA: 4 South Florida Regional Transportation Authority/Tri-Rail Administrative Offices 800 Northwest 33rd Street Pompano Beach, FL 33064 Attention: Executive Director 16 specified, For the present, the purposes: With a copy to: South Florida Regional Transportation Authority/Tri-Rail Administrative Offices 800 Northwest 33rd Street Pompano Beach, FL 33064 Attention: General Counsel 9, Entire Agreement. This document incorporates and includes all prior negotiations, correspondence, conversations, agreemennderstandings applicable to the matters contained herein, and the parties ,, agreements or understandings concerning tl ;here are no eommitments, bject matter is Agreement that are not contained in this document, Accord , it is agreed that n viation from the terms hereof shall be predicate on any pal"al?ae tions or agre Opts whether oral or written, 10. Amendment This AI' � emen�t iaykbe amp Cl or modified only by a written a reeme r;tied by4 duly autzi epres ,yes of the City and SFRTA, 11, urvival of Certain Obligations, This hal execution by the duly authorized reprok atives of the y and RTA ("Effective Date") and shall continue in force thirty (30- Downtown Mia` 12. Governzaw and Venue; Attorneys Fees, This Agreement shall be to of diamencement of revenue service of the Tri-Rail construed in accordance with the laws of the State of Florida. Exclusive venue for any litigation or other proceedings between the parties shall be in Miami -Dade County, Florida, Each party shall bear its own attorney's fees. 13, Severability, If any term or provision of this Agreement or the 17 application of either shall to any extent be determined to be invalid or unenforceable, the remainder of this Agreement, or the application of such term or provision to circumstances other than those with respect to which it is invalid or unenforceable, shall not be affected, and the remainder of this Agreement shall be enforced to the extent permitted by law, 14. Insurance, The parties hereto acknd ge that SFRTA is a governmental entity subject to the limitations o shall comply accordingly. A description o attached hereto as Exhibit "F". SFRTA, 68.28, Florida Statutes and TA's liab insurance coverage is _ugh its design/build c the Project Improvements, shall e uire the staff c iltice coverage t with AAF for ,giured by its design/build contracts for such . '" :>ad shall p 6 e the City with such copies of insurance documentati herein it is express liabl other and Fee dersto ®ajand agree nswe onetary -comp Sltiori any other term or provision SFRTA that the City is not responsible, arge, cost, expense, reimbursement, or FRTA, its agents, representatives, employees or contractoi°'®• their work their seces under this Agreement, The City will not be responsible forng any positions, levies, charges, fees, or assessments imposed upon the Project I'® ®rents as a result of SFRTA's design, construction, or operations. 16, Representations and Warranties of SFRTA, a. Financially solvent. SFRTA warrants that it is financially solvent. b, Authorization. SFRTA has taken all action necessary for the approval and 18 execution of this Agreement and has been duly authorized to commit SFRTA to all terms and conditions of this Agreement which shall constitute the valid, binding, and enforceable obligations of' SFRTA. c. Compliance with laws. The Parties hereby acknowledge that they shall comply with all applicable federal, state and local laws, ordinances and regulations in performing their respective duties, responsibilities < ` ligations pursuant to this Agreement and with all applicable laws relating toet Improvements as the same presently exist and as they may be amended hfter. 17. 'Waiver. The failure of ei >' {arty to this Agreen t o object or take affirmative action with respect t any conduct o g` party which is violation of the terms of this Agreement shah"c1 strued as i fiver of the violation or breach, or of any future violaion, breach rong�� r f Lrct. ,waiver of any condition hereunder must li i1 wrtti and stgi e; b l fhe au ed representatives of both parties. i ying on the public agency status, govental structiihxperi reputation and ability of SFRTA, to adequately perform tt�greementz RTA ma execute and deliver to an AAF affiliate or third- party lender sues assignmen of any and all rights in favor of SFRTA and such City Contribution due to B. A under this Agreement while this Agreement remains in force and effect. Such assignment or assignments shall require the prior written concurrence of the City Commission, which concurrence shall not be unreasonably withheld and the response by the City provided within ninety (90) days of the receipt of any such written request(s) From SFRTA. 19 19, Discrimination, STRTA shall not discriminate as to race, color, religion, sex, national origin, age, sexual orientation, disability or marital status in connection with its performance of service or any related service offered. 20, No Partnership or Joint Venture. Nothing contained in this Agreement shall constitute or be construed to create a partnership or joint venture between the parties or to male either jointly liable with the other for a igati.on arising out of the activities and services contemplated by this Agreei�t ' RTA's relationship with the City in the performance of this Agreement that of an in. ',endent contractor, All persons performing services which arts be performed by TA under this Agreement shall at all times be ender SFRTA irection and c be employees or agents of SFRT emto ees e resentatives of the City, 21, Third Party Beneficiaries, • Agreement, intet* 1 and shall e no t%party beneficiaries to this 22, Inter` ,etation.$' phis Agree t is the result of negotiations between the partiha ;rtyped ecl b art `r the convenience of all parties hereto, Shoitcl t re provisions hisement require judicial or arbitral interpretation, it is agreed thjudicial or a( rai bodnterpreting or construing the same shall not apply the assumption l the terns ereof shall be more strictly construed against one party by reason of the rule o -action that an instrument is to be construed more strictly against the party which itself or through its agents prepared same, it being agreed that the agents of both parties have equally participated in the preparation of this Agreement. 23. Paragraph Headings, Title and paragraph headings are made solely for reference and are not a part of this Agreement, [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 20 21. IN WITNESS WHEREOF, the CITY and SFRTA have set their hands the day and year above written, Attest: By: Name: Title: Approved as to form and legal sufficiency: Name: SFRTA General Counsel SOUTH FLORIDA REGIONAL TRANSPORTATION AUTI-10,RITY * Attest: t4 X MIAMI, a Florida municipal corporation Daniel J. Alfonso, City Manager Approved a Ale al form aliAegal sufficiency: Approved as to insurance requirements: By: By: Victoria Mendez, City Attorney #548317_4 22 Ann Marie Sharpe, Director Risk Management Department Contribution by Entity Cash Flow Model Contribution by Year ($) Entity Entity 2016 2017 2018 2019 2020 - 2030 Total % City of Miami SEOPW CRA 0 0 17,528,000 0 0 $17,528,000 25% Omni CRA 1,500,000 1,500,000 0 0 0 $3,000,000 4% j City of Miami 3,000,000 2,500,000 1,417,000 0 $6,917,000 10% Miami Downtown DevetopmentAuthority 650,000 300,000 317,000 0 $1,267,000 2% Bayfront Park Trust 250,000 0 0 0 0 $250,000 0% DR( 172,820 256,605 750,575 0 0 $1,180,000 2% Miami Dade County Miami -Dade County 13,900,000 0 0 0 0 $13,900,000 20% State of Florida South Florida Regional Transportation Authority 3,100,000 750,000 750,000 0 0 $4,600,000 7% Florida Department of Transportaiton 0 20,298,000 0 0 0 $20,298,000 29% $22,572,820 $25,604,605 $20,762,575 $0 $0 $68,940,000 100% Total Project Cost i $68,940,000 Needed Funding to be discussed with City of Miami, SEOPW CRA and other entities.* *This balance in funding would be paid by 2018 and financed by either the City of Miami or SEOPW CRA through one of two methods Bond issuance c or a typical municipal financial instrument at a rate of 3% to 4%. 1 f i 1 0% 342262a 27566051 21675751 2,167,575 * FOOT Discretionary Fund Contribution of $3 million in 2018 contingent upon confirmation from FOOT Secretary. * Possible additional contribution sources: (i) SEOPW DRI Transportation Fees; (Hi Omni CRA; and Oil) SEOPW CRA. DRAFT FOR DISCUSSION ONLY