HomeMy WebLinkAboutSummary FormDate: October 9, 2015
AGENDA ITEM SUMMARY FORM
FILE ID: 15-01315
Requesting Department: City Manager's Office
Commission Meeting Date: October 22, 2015 District Impacted: CW
Type: XResolutian Ordinance Emergency Ordinance n Discussion Item
Other
Subject: Bayshore Landing, LLC Settlement
Purpose of Item:
To accept payment in the amount $150,000 in full and final satisfaction of all audit matters or
liabilities and obligations of Bayshore Landing, LLC, pertaining to a lease of city owned property
located at approximately 2550 South Bayshore Drive, Miami, Florida, before May 21, 2015.
Background Information:
The Independent Auditor General conducted Audits 15-004, 15-015, and 15-019 which reported a
total amount of $386,598 due and owing from Bayshore Landing, LLC for the audit period of August
2004 through May 2015. After discussions with the City Attorney's Office on the likelihood of success
on the merits, expediency of a judicial resolution, coupled with the attorneys' fees provisions in the
original contract for a collection action, it was determined that a settlement of $150,000 would be a
fair and appropriate compromise.
Budget Impact Analysis
Yes 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:
CIP Project No:
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: $ 150,000,00 (revenue)
Final Approvals
SIGN AND DATE)
CIP N/A Budg
If using or receiving capital funds
Grants N/A Risk Management N/A
Purchasing N/A Dept. Director
Chief N/A City Manager
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