HomeMy WebLinkAboutSummary Form 06-23-16Date: 4/27/2016
AGENDA ITEM SUMMARY FORM
FILE ID: 16-00645
Requesting Department: Department of Real Estate and Asset Management
Commission Meeting Date: 5/12/2016
Type: Z Resolution — Ordinance
Other
District Impacted 2
Emergency Ordinance n Discussion Item
Law Department
Matter ID No.
I-(GS3
Subject: Miami Marine Stadium crowdfunding campaign partnered by the National Trust for Historic
Preservation and Heineken
Purpose of Item:
A Resolution of the City of Miami Commission, with attachment(s), authorizing the City Manager to accept
donations associated with the crowdfunding campaign to be executed by the National Trust for Historic
Preservation and Heineken in an effort to raise funding to renovate the Miami Marine Stadium.
Background Information
Budget Impact Analysis
See Supplemental Sheet.
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:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost: $0
Maintenance Cost:
Total Fiscal Impact: $D.
CIP N/A
If using or receiving capital funds
Grants N/A
Purchasing
Chief
Final Approvals
(SIGN AND DATE
Budge
Risk M nagement
Dept, Director
City Manager
!G
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Subject: Miami Marine Stadium crowdfunding campaign partnered by the National Trust for Historic
Preservation and Heineken
Background Information:
The City of Miami ("City") is the owner of the Commodore Ralph Munroe Miami Marine Stadium ("Stadium")
located at 3501 Rickenbacker Causeway, Miami, Florida.
The Stadium is in a state of disrepair and requires significant capital in order to be renovated.
Heineken USA, Incorporated ("Heineken") has reached out to the National Trust for Historic Preservation
("NTHP") to partner in a crowdfunding campaign to raise funds to assist with the renovation of the Stadium.
Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large
number of people, often performed via internet-mediated registries.
The City would like to assist in the partnership between Heineken and NTHP with these fundraising efforts.
Funds raised through these efforts will be used to remove the remaining seats inside of the Stadium and repair
any damage caused by their removal, in accordance with all applicable laws, regulations and procedures.
Any remaining funds raised through these efforts after the seat removal will be appropriated and expended by
separate Resolution.
The funds received will be deposited and separately accounted for by NTHP and will be used for the restoration
and rehabilitation of the Stadium; and
The City, Heineken and NTHP will execute a Term Sheet ("Term Sheet") setting forth the basic terms and
conditions of the crowdfunding campaign for the restoration of the Stadium and will later be formalized in
definitive documentation of the agreements reflected in the Term Sheet.
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