HomeMy WebLinkAboutSubmittal-Carlos Gimenez-Agreements Comparison•
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A COMPARISON OF PROPOSED CHALKS AIRLINES AGREEMENTS
Sublease Term
Expiration Date
Sublease Premises
Limitation of Uses
Construction
Payment/
Performance Bond
Liquidated Damages
Initial Rent
Minimum Rent
Obligation
Additional Rent
Renewal
Security Deposit
Current Lease Agreement
Total maximum of 50 years; Tenant shall have the
right to extend the Term for two successive extension
Terms of ten (10) years each.
None Set
2.7 acres with an additional 0.5 acres addition
Limited to only Food and Liquor Service areas.
Maximum of 5 year term for the construction of the
Landlord's Facility.
Does not provide any "Minimum Payment for
Performance Bond"
Does not cover any liquidated damages should Tenant
fail to meet construction term.
$2,500
None Set
N/A
None
None
Amended Lease Agreement
Thirty (30) year term
Expiration Date: "October 18, 2043", a 29 year
Term.
Total of 2.9 acres
Food and alcohol service areas shall not
exceed 18,948 square feet.
Seven thousand square feet (7,000 sq. ft.)
dedicated to Historical Center.
Seven thousand square feet (7,000 sq. ft.)
dedicated to media room at no cost to the City
of Miami.
Twenty one thousand square feet (21,000 sq.
ft.) dedicated to general commercial activities
and uses.
Other commercial, educational and civic uses
as well as learning centers (except actual
schools or classrooms)
Parking Facilities.
Tenant shall submit preliminary plans for any
Improvements to be constructed, refurbished
and/or relocated on the Property to Landlord
for written approval within six (6) months from
Effective Date, eighteen (18) months from the
granting of the corresponding construction
permits to substantially complete the work.
$2,000,000; minimum Payment for
Performance Bond.
Immediate payment of $100,000 in liquidated
damages such case.
$6,000
$500,000
10% of Gross Revenues for ticket or other
sales for access at the Historical Center, Media
or learning center
1% of Gross Revenues (after deducting out any
other amounts of Gross Revenues paid
pursuant to the Contract) plus $15.86 per
square foot of the Tenant improvements used
for the Commercial Facility.
Appropriate rates established by independent
appraiser.
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$250,000
Submitted into the public
record for item(s) PZ.J 1t P2.2.
on t. j 4- i (O City Clerk