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HomeMy WebLinkAboutLegislation-SUBTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. City of Miami Legislation Resolution City Hail 3500 Pan American Drive Miami. FL 33133 www mrramigov.com File Number: 2585 Final Action Date: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING. SETTING FORTH AND SUBMITTING TO THE ELECTORATE A PROPOSED CHARTER AMENDMENT, AMENDING THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CHARTER"); AMENDING SECTION 29-B OF THE CHARTER, ENTITLED "CITY -OWNED PROPERTY SALE OR LEASE -GENERALLY", TO AUTHORIZE THE CITY COMMISSION ("COMMISSION") BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, TO WAIVE COMPETITIVE BIDDING AND TO EXECUTE A FIFTH AMENDMENT (.'FIFTH AMENDMENT") TO THE LEASE AGREEMENT ("LEASE") BETWEEN THE CITY OF MIAMI ("CITY") AND ALIGNED BAYSHORE MARINA, LLC, ALSO KNOWN AS MONTY'S ("BAYSHORE MARINA"), FOR CITY -OWNED WATERFRONT PROPERTY LOCATED AT 2550 SOUTH BAYSHORE DRIVE. MIAMI, FLORIDA ("PROPERTY"), TO EXTEND THE CURRENT LEASE TERM BY AN ADDITIONAL TERM OF APPROXIMATELY THIRTY-TWO (32) YEARS (TO EXPIRE MAY 31, 2067), WITH TWO (2) ADDITIONAL TEN (10) YEAR OPTIONS TO RENEW, FOR A TOTAL TERM OF FIFTY TWO (52) YEARS (TO EXPIRE MAY 31, 2087); AN ADDITIONAL MINIMUM RENT PAYMENT OF TWO HUNDRED THOUSAND DOLLARS ($200,000.00) PER ✓LEASE YEAR (A MINIMUM OF TEN MILLION DOLLARS [$10,000,000.001 OVER THE BASE TERM OF THE AMENDED LEASE), OR ONE AND THREE QUARTERS PERCENT (1.75%) OF GROSS RENT RECEIPTS DERIVED FROM THE PROPERTY, WHICHEVER IS GREATER, AS ADDITIONAL RENT DUE TO THE CITY, AND COMMENCING JANUARY 1, 2019, MINIMUM ANNUAL TOTAL RENT (INCLUSIVE OF THE ADDITIONAL MINIMUM RENT) SHALL BE ONE MILLION FIVE HUNDRE❑ THOUSAND DOLLARS ($1,500,000), PLUS AN ADDITIONAL TWENTY FIVE THOUSAND DOLLARS ($25,000) TO BE PAID ON AN ANNUAL BASIS FOR THE FULL AMENDED TERM TO A SPECIAL FUND TO BE ESTABLISHED BY THE CITY FOR THE BENEFIT OF LOW INCOME HOUSING RENOVATION; AND SIGNIFICANT CAPITAL IMPROVEMENTS TO THE PROPERTY OF A MINIMUM OF SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($7,500,000.00) TO BE SPENT WITHIN THREE (3) YEARS OF APPROVAL OF THE FIFTH AMENDMENT BY THE ELECTORATE; THE CREATION OF A CAPITAL ACCOUNT REQUIRING A MINIMUM ADDITIONAL INVESTMENT TO THE PROPERTY OF FOUR MILLION DOLLARS ($4,000,000.00) OVER THE FULL AMENDED LEASE TERM, INCLUDING RENEWAL OPTIONS; IMPLEMENTATION OF A TRANSFER FEE 1F THE PROPERTY IS TRANSFERRED OR ASSIGNED; A REFINANCING FEE, SHOULD THE PROPERTY BE REFINANCED AFTER THE INITIAL REFINANCING; AND PURSUANT TO THE CHARTER SECTION 29-B ENTITLED `CITY OWNED PROPERTY SALE OR LEASE -GENERALLY,,' AND SUBPART A, SECTION 3(F)(III), ENTITLED "POWERS," TWO (2) INDEPENDENT APPRAISALS HAVING BEEN OBTAINED BY THE CITY AFFIRMING FAIR MARKET VALUE OF THE FIFTH AMENDMENT; FURTHER PROVIDING FOR City of Miami Page 1 of 8 File ID: 2585 (Revision: A) Printed On: 7124/2017 2585-Legislation-SUB THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. File ID: 2585 Enactment Number: CONSENT TO THE RELATED SUBMERGED LANDS LEASE AND WAIVER OF DEED RESTRICTIONS REQUIRED FROM THE STATE OF FLORIDA; WITH OTHER RESTRICTIONS, REVERSIONS, AND RETENTION BY THE CITY OF ALL OTHER RIGHTS; CALLING FOR A REFERENDUM SPECIAL ELECTION AND PROVIDING THAT THE CHARTER AMENDMENT SHALL BE SUBMITTED TO THE ELECTORATE AT THE REFERENDUM SPECIAL ELECTION TO BE HELD CONCURRENTLY WITH THE GENERAL MUNICIPAL ELECTION ON NOVEMBER 7, 2017; DESIGNATING AND APPOINTING THE CITY CLERK ("CLERK") AS THE OFFICIAL REPRESENTATIVE OF THE COMMISSION WITH RESPECT TO THE USE OF VOTER REGISTRATION BOOKS AND RECORDS; FURTHER DIRECTING THE CLERK TO CAUSE A CERTIFIED COPY OF THE HEREIN RESOLUTION TO BE DELIVERED TO THE SUPERVISOR OF ELECTIONS OF MIAMI-DADE COUNTY, FLORIDA, NOT LESS THAN FORTY- FIVE (45) DAYS PRIOR TO THE DATE OF SUCH REFERENDUM SPECIAL ELECTION; PROVIDING AN IMMEDIATE EFFECTIVE DATE FOR THIS RESOLUTION. WHEREAS, the City of Miami ("City") is the owner of the waterfront property located at 2550 South Bayshore Drive, Miami, Florida ("Property"); and WHEREAS, per the Lease Agreement originally dated September 20, 1985, as supplemented and amended ("Lease"), Aligned Bayshore Marina LLC ("Bayshore Marina"), currently leases the Property, also known as Monty's, from the City; and WHEREAS, the City and Bayshore Marina desire to enter into a Fifth Amendment to the Lease, which will extend the current lease term by an additional term of approximately thirty-two (32) years (to expire May 31, 2067), with two (2) ten (10) year options to renew for a total term of fifty-two (52) years (to expire May 31, 2087); increase minimum rent payment by an additional two hundred thousand dollars ($200,000.00) per lease year, for a minimum of ten million dollars ($10,000,000.00) over the extended base term of 50 years, or one and three quarters percent (1.75%) of gross rent receipts from the Property, whichever is greater; provide capital improvements to the Property of a minimum of seven million five hundred thousand dollars ($7,500,000.00) to be spent within three (3) years of the electorate's approval of the Fifth Amendment; create a capital account requiring a minimum additional investment on the Property of four million dollars ($4,000,000.00) over the amended total term, inclusive of the renewal options; implement a Transfer Fee if the Property is transferred or assigned; and further implement a Refinancing Fee should the Property be refinanced after the initial refinancing; and WHEREAS, pursuant to the Charter of the City ("Charter') Section 29-B entitled "City Owned Property Sale or Lease -Generally", and Subpart A, Section 3(f)(iii), entitled 'Powers", the City has received two (2) independent appraisals affirming the fair market value of the Fifth Amendment; WHEREAS, the Fifth Amendment to the Lease with Bayshore Marina will require the City's consent to the related submerged lands lease and waiver of deed restrictions required from the State of Florida, with other restrictions, reversions, and retention by the City of all other rights; and WHEREAS, the City Commission has determined that the Fifth Amendment to the Lease will be in the City's best interest; and City of Miami Page 2 of 8 File ID: 2585 (Revision; A) Printed on: 7124/2017 File IC: 2585 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Enactment Number: WHEREAS, pursuant to Resolution No. R-17-0322, adopted on July 13, 2017, the City Attorney was directed to draft the ballot language contained herein; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MAW, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. In accordance with the provisions of Section 29-3 of the Charter of the City of Miami, as amended ("Charter), and §6.03 of the Miami -Dade County Home Rule Charter, a Referendum Special Election to be held concurrently with the General Municipal Election is being called and directed in the City of Miami, Florida, from 7:00 A.M. until 7:00 P.M., on Tuesday, November 7, 2017, including for the purpose of submitting to the qualified electors of the City for their approval or disapproval the proposed Charter Amendment for the Fifth Amendment to the Lease. Section 3. Section 29-B of the Charter is proposed to be amended in the following particulars:' "CHARTER AND CODE OF THE CITY OF MIAMI, FLORIDA SUBPART A. THE CHARTER Sec. 29-8. City -owned property sale or lease -Generally. Notwithstanding any provision to the contrary contained in this Charter or the City Code, and except as provided below, the city commission is prohibited from favorably considering any sale or lease of property owned by the city unless there is a return to the city of fair market value under such proposed sale or lease. The city commission is also prohibited from favorably considering any sale or lease of city -owned property unless (a) there shall have been, prior to the date of the city commission's consideration of such sale or lease, an advertisement soliciting proposals for said sale or lease published in a daily newspaper of general paid circulation in the city, allowing not less than ninety (90) days for the city's receipt of proposals from prospective purchasers or lessees, said advertisement to be no less than one-fourth ('/A) page and the headline in the advertisement to be in a type no smaller than 18-point and, (b) except. as provided below, there shall have been at least three (3) written proposals received from prospective purchasers or lessees; however, if there are less than three (3) such proposals received and if the guaranteed return under the proposal whose acceptance is being considered is equal to fair market value the city commission determines that the contemplated safe or lease will be in the city's best interest then, subject to the approval of a majority of the votes cast by the electorate at a referendum, the sale or lease may be consummated. In the case of city - owned property which is not waterfront, when the value of such property to be sold or leased (individual leaseholds within a single city -owned 1 Words and/or figures stricken through shall be deleted. Underscored words and/or figures shall be added. The remaining provisions are now in effect and remain unchanged. Asterisks indicate omitted and unchanged material. City of Miami Page 3 of 8 File ID: 2585 (Revision.: A) Printed on: 7/24/2017 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. File ID: 2585 Enactment Number: property shall not be considered as a single parcel of property for such valuation purposes) is five hundred thousand dollars ($500,000) or less, based on an appraisal performed by a state -certified appraiser, the city commission, by a 4/5lhs affirmative vote, may sell or lease said city -owned property after compliance with the advertisement requirements set forth above but without the necessity of a referendum. The above provisions and any other city requirements for competitive bidding shall not apply when; (a) conveying property to implement housing programs or projects which are intended to benefit persons or households with low and/or moderate income, the criteria of which to be provided for by federal and/or state law or by the city commission; (b) conveying property to implement projects authorized under the Florida Community Redevelopment Act of 1969, as amended; (c) conveying property to implement projects of any governmental agency or instrumentality; (d) disposing of property acquired as a result of foreclosure; (e) disposing of property acquired in connection with delinquent taxes which properties were conveyed to the city by the Miami -Dade board of county commissioners under the provisions of Section 197.592 Florida Statutes, as amended; and (f) disposing of non -waterfront property to the owner of an adjacent property when the subject property is 7,500 square feet or less or the subject non - waterfront property is non -buildable. Notwithstanding anything herein to the contrary, the city commission, by a 4/5ths affirmative vote, may: (a) grant a lessee of city -owned property a one-time extension during the last five years of its lease, without the necessity of a referendum, for the purpose of funding additional capital improvements. The extended term shall not exceed twenty-five percent of the original term or ten years, whichever is less. The granting of such an extension is subject to the lessee paying fair market rent as determined by the city at the time of such extension and not being in default of its lease with the city nor in arrearage of any monies due the city; and (b) amend the Lease Agreement between the City of Miami and Biscayne Bay Restaurant Corp„ d/b/a Rusty Pelican, dated February 13, 1970, as amended, to (i) extend the lease for an additional term of fifteen (15) years, with the option to renew for two (2) additional five (5) year periods, (ii) increase the amount of the minimum guarantee to the City to at beast $360,000 per lease year effective upon execution of the lease amendment, and (iii) require Rusty Pelican to complete capital improvements to the property, including a public baywalk, in the amount of not less than $3 Million, City of Miami Page 4 of 8 File ID: 2585 (Revision: A) Printed on: 272412017 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. File ID: 2585 Enactment Number: within twenty-four (24) months of the effective date of the lease amendment; and (c) waive competitive bidding and execute a lease with Dade Heritage Trust, inc. for the City -owned building located at 190 Southeast 12th Terrace, for a term of thirty (30) years, with two (2) thirty (30) year renewals, for minimum annual rent of $600.00 with Consumer Price Index adjustments, with restrictions, reversions, and retention by the City of all other rights.. and fd) waive competitive bidding and execute a Fifth Amendment to the Lease Agreement with Aligned Bayshore Marina, LLC, also known as Monty's. to extend the current lease term by an additional term of approximately thirty- two (32) years (to expire May 31, 2067), with two (2) ten (10) year options to renew for a total term of fifty-two (52) years (to expire May 31, 2087); which will increase minimum rent payment by an additional two hundred thousand dollarsk$200,000.00) per lease year, for a minimum of ten million dollars ($10,000,000.00) over the extended base term of fifty (50) years, or one and three quarters percent (1.75%) of gross rent receipts from the Property, whichever is greater, as additional rent due the City: further providing capital improvements to the Property of a minimum of seven million five hundred thousand dollars ($7,500,000.00) to be spent within three (3) years of the electorate's approval of the Fifth Amendment to the Lease Agreement: further creating a capital account requiring a minimum additional investment to the Property of four million dollars ($4,000,000.00) over the amended total term, inclusive of the renewal options; implementing a Transfer Fee if the Property is transferred or assigned; and further implementing a Refinancing Fee should the Property be refinanced after the initial refinancing; pursuant to the Charter of the City ('Charter") Section 29-B entitled "City Owned Property Sale or Lease -Generally", and Subpart A, Section 3(f)(iii), entitled "Powers", the City has received two (2) independent appraisals affirming the fair market value of the Fifth Amendment; further acknowledging the City's consent to the related submerged lands lease and waiver of deed restrictions required from the State of Florida, with other restrictions, reversions and retention by the City of ail other rights. Notwithstanding anything in this Charter to the contrary, the City may enter into leases or management agreements, for any City -owned submerged lands, with entities having a possessory or ownership interest in the abutting riparian uplands for building marinas, docks or like facilities, using methods adopted by ordinance on the condition that such leases or management agreements result in a return to the City of at least fair market value." Section 4. The Referendum Special Election shall be held at the voting places in the precincts designated, all as shown on the list attached hereto and made a part hereof and referred to as Exhibit No. 1 or as may be designated by the Supervisor of Elections of Miami - Dade County, Florida, in conformity with the provisions of the general laws of the State of Florida ("State"). The Precinct Election Clerks and Inspectors to serve at said polling places on said Referendum Special Election date shall be those designated by the Supervisor of Elections of Miami -Dade County, Florida, for such purpose in accordance with the general laws of the State. A description of the registration books and records which pertain to Referendum Special Election precincts wholly or partly within the City and which the City is adopting and desires to use for holding such Referendum Special Election is all registration cards, books, records and City of Miami Page 5 of 8 File ID: 2585 (Revision: A) printed on: 7/24/2017 Filo ID: 2585 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Enactment Number: certificates pertaining to electors of the City and established and maintained as official by the Supervisor of Elections of Miami -Dade County, Florida, in conformity with the provisions of the general laws of the State, are hereby adopted and declared to be, and shall hereafter be recognized and accepted as, offlciai registration cards, books, records and certificates of the City. Section 5. In compliance with Section 100.342, Florida Statutes (2016), regarding any Referendum Special Election not otherwise provided for there shall be at least thirty (30) days' notice of the Referendum Special Election by publication in a newspaper of general circulation in the City, The City Clerk is authorized and directed to publish notice of the adoption of this Resolution and of the provisions hereof, at least twice, once in the fifth week and once in the third week prior to the week in which the aforesaid Referendum Special Election is to be held, in newspaper(s) of general circulation in the City which notice shall be substantially in the following form: "NOTICE OF REFERENDUM SPECIAL ELECTION TO AMEND THE MIAMI CITY CHARTER TO BE HELD ON TUESDAY, NOVEMBER 7, 2017 IN THE CITY OF MIAMI, FLORIDA PURSUANT TO RESOLUTION NO. A Referendum Special Election will be held on Tuesday, November 7, 2017 from 7:00 A.M. until 7:00 P.M. in the City of Miami, Florida, at the polling places in the several Referendum Special Election precincts designated by the Board of County Commissioners of Miami -Dade County, Florida, as set forth herein, unless otherwise provided by law, and submitting to the qualified electors of the City of Miami, Florida, the following question: "Shall the City's Charter be amended to extend Aligned Bayshore Marina, LLC (Monty's) Lease, for an additional 52 years, waiving competitive bidding by 4/5ths affirmative vote; Monty's to pay City $10,000,000.00 more of additional rent, or 1.75% more of gross revenue, whichever is greater over base term, but no less than $1,500,000,00 of total annual rent; plus $7,500,000.00 of improvements including new manna addressing sea level rise and additionally, $4,000,000.00 of improvements over total term?' This Charter Amendment will amend Section 29-8 of the Miami Charter to authorize the City Commission by a four -fifths (4/5ths) affirmative vote, waive competitive bidding and execute the Fifth Amendment to the Lease with Aligned Bayshore Marina, LLC, also known as Monty's, for an additional total term of 52 years, for City waterfront property at 2550 South Bayshore Drive, for the greater of additional minimum total rent of $10,000,000.00 or one and three quarters percent (1.75%) of gross property rent over the initial 32 year term; $7,500,000.00 of capital improvements; a minimum $4,000,000.00 capital account over the total term, and transfer and refinancing fees. By order of the Commission of the City of Miami, Florida City Clerk City of Miami Page 6 of 8 File ID: 2585 (Revision: A) Printed on: 7/24/2017 File IC: 2585 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Enactment Number A list of City of Miami polling places follows: (insert list of City of Miami Polling Places.) FOR AMENDMENT AGAINST AMENDMENT Section 6, The official ballot to be used at said Referendum Special Election shall be in full compliance with the laws of the State with respect to absentee ballots and to the use of the mechanical voting machines or the Computer Election System, and shall be in substantially the following form, to wit: "Official Ballot" Referendum Special Election Tuesday, November 7, 2017 for Approval or Disapproval of the following question: Proposed Charter Amendment allowing Aligned Bayshore (Monty's) a Lease extension providing additional rent and investments. "Shaul the City's Charter be amended to extend Aligned Bayshore Marina, LLC (Monty's) Lease, for an additional 52 years, waiving competitive bidding by 4/5ths affirmative vote; Monty's to pay City $10,000,000,00 more of additional rent, or 1.75% more of gross revenue, whichever is greater over base term, but no less than $1,500,000.00 of total annual rent; plus $7,500,000.00 of improvements including new marina addressing sea level rise and additionally, $4,000,000.00 of improvements over total term?" FOR AMENDMENT AGAINST AMENDMENT Section 7, The form of the ballot shall be in accordance with requirements of general election laws. Electors desiring to vote in approval of the Question described above shall be instructed to vote their selection next to the word "FOR AMENDMENT" within the ballot containing the statement relating to the Question. Electors desiring to vote to disapprove the Question shall be instructed to vote their selection next to the word "AGAINST AMENDMENT' within the ballot containing the statement relating to the Question. Once individuals are satisfied with their choice, they shall press the "Vote" button and the ballot shall be cast. City of Miami Page 7 of 8 File ID: 2585 (Revision: A) Printed on: 7/24/2017 File ID: 2585 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Enactment Number: Section 8. The City Clerk shall cause to be prepared absentee ballots containing the Question set forth in Section 6 above for the use of absentee electors entitled to cast such ballots in said Referendum Special Election. Section 9. All qualified electors of said City shall be permitted to vote in said Referendum Special Election and the Supervisor of Elections of Miami -Dade County, Florida, is hereby requested, authorized, and directed to furnish, at the cost and expense of the City, a list of all qualified electors residing in the City as shown by the registration books and records of the Office of said Supervisor of Elections and duly certify the same for delivery to and for use by the election officials designated to serve at the respective polling places in said general election precincts. Section 10. For the purpose of enabling persons to register who are qualified to vote in said Referendum Special Election to be held concurrently with the General Municipal Election on Tuesday, November 7, 2017, and who have not registered under the provisions of the general laws of the State and Chapter 16 of the Code of the City of Miami, Florida, or who have transferred their legal residence from one voting precinct to another in the City, they may register Monday through Friday, from 8:00 A.M. to 5:00 R.M. at the Miami -Dade County Elections Department located at 2700 Northwest 87"' Avenue, Dora', Florida, within such period of time as may be designated by the Supervisor of Elections of Miami -Dade County, Florida. In addition to the above place and times, qualified persons may register at such branch offices and may also use any mobile registration van for the purpose of registration in order to vote in the herein described Referendum Special Election during such times and on such dates as may be designated by the Supervisor of Elections of Miami -Dade County, Florida. Section 11. Todd B_ Hannon, the City Clerk of the City of Miami, Florida, or his duly appointed successor, is hereby designated and appointed as the official representative of the Commission of the City of Miami, Florida, in all transactions with the Supervisor of Elections of Miami -Dade County, Florida, related to matters pertaining to the use of the registration books and the holding of said Referendum Special Election. Section 12. The City Clerk shall deliver a certified copy of this Resolution to the Supervisor of Elections of Miami -Dade County, Florida, not less than forty-five (45) days prior to the date of the Referendum Special Election. Section 13. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.. City of Miami Page 8 of 8 Fife ID: 2585 (Revision: A) Printed on: 7/24/2017 SUBSTITUTED City of Miami Legislation Resolution City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 2585 Final Action D A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMEN S), APPROVING, SETTING FORTH AND SUBMITTING TO THE ELECTOR E A PROPOSED CHARTER AMENDMENT, AMENDING THE CHARTER OTHE CITY OF MIAMI, FLORIDA, AS AMENDED ("CHARTER"); AMENDINe SECTION 29-B OF THE CHARTER, ENTITLED "CITY -OWNED PROPERTY LE OR LEASE -GENERALLY", TO AUTHORIZE THE CITY COMMISSIO ("COMMISSION") BY A FOUR -FIFTHS (4/5THS) AFFIRMATIV WAIVE COMPETITIVE BIDDING AND TO EXECUTE A FIFT ("FIFTH AMENDMENT") TO THE LEASE AGREEMENT ("L THE CITY OF MIAMI ("CITY") AND ALIGNED BAYSHOR KNOWN AS MONTY'S ("BAYSHORE MARINA"), FOR WATERFRONT PROPERTY LOCATED AT 2550 SO MIAMI, FLORIDA ("PROPERTY") TO EXTEND THE AN ADDITIONAL TERM OF APPROXIMATELY T TWO (2) ADDITIONAL TEN (10) YEAR OPTIO TOTAL TERM OF FIFTY TWO (52) YEARS; PAYMENT OF TWO HUNDRED THOUSAN LEASE YEAR (A MINIMUM OF TEN MILL THE BASE TERM OF THE AMENDED OPTIONS), OR ONE AND THREE Q RENT RECEIPTS DERIVED FROM GREATER, AS ADDITIONAL RE SIGNIFICANT CAPITAL IMPRO OF SEVEN MILLION FIVE HU TO BE SPENT WITHIN TH AMENDMENT BY THE E ACCOUNT REQUIRING PROPERTY OF FOU AMENDED LEASE IMPLEMENTATIO TRANSFERRED PROPERTY B PURSUANT PROPERT 3(F)(III) OBTAI AM OTE, TO AMENDMENT SE") BETWEEN ARINA, LLC, ALSO Y-OWNED H BAYSHORE DRIVE, URRENT LEASE TERM BY RTY-TWO (32) YEARS, WITH TO RENEW, FOR A POSSIBLE ADDITIONAL MINIMUM RENT DOLLARS ($200,000.00) PER N DOLLARS [$10,000,000.00] OVER ASE EXCLUDING RENEWAL RTERS PERCENT (1.75%) OF GROSS E PROPERTY, WHICHEVER IS DUE TO THE CITY INCLUSIVE OF MENTS TO THE PROPERTY OF A MINIMUM DRED THOUSAND DOLLARS ($7,500,000.00) E (3) YEARS OF APPROVAL OF THE FIFTH CTORATE; THE CREATION OF A CAPITAL MINIMUM ADDITIONAL INVESTMENT TO THE ILLION DOLLARS ($4,000,000.00) OVER THE FULL RM, INCLUDING RENEWAL OPTIONS; OF A TRANSFER FEE IF THE PROPERTY IS R ASSIGNED; A REFINANCING FEE, SHOULD THE REFINANCED AFTER THE INITIAL REFINANCING; AND O THE CHARTER SECTION 29-B ENTITLED "CITY OWNED SALE OR LEASE -GENERALLY," AND SUBPART A, SECTION NTITLED "POWERS," TWO (2) INDEPENDENT APPRAISALS ED BY THE CITY AFFIRMING FAIR MARKET VALUE OF THE FIFTH DMENT; FURTHER PROVIDING FOR CONSENT TO THE RELATED S MERGED LANDS LEASE AND WAIVER OF DEED RESTRICTIONS QUIRED FROM THE STATE OF FLORIDA; WITH OTHER RESTRICTIONS, EVERSIONS, AND RETENTION BY THE CITY OF ALL OTHER RIGHTS; CALLING FOR A REFERENDUM SPECIAL ELECTION AND PROVIDING THAT THE CHARTER AMENDMENT SHALL BE SUBMITTED TO THE ELECTORATE AT THE REFERENDUM SPECIAL ELECTION TO BE HELD CONCURRENTLY WITH THE GENERAL MUNICIPAL ELECTION ON NOVEMBER 7, 2017; DESIGNATING AND APPOINTING THE CITY CLERK ("CLERK") AS THE OFFICIAL REPRESENTATIVE OF THE COMMISSION WITH RESPECT TO THE USE OF VOTER REGISTRATION BOOKS AND RECORDS; FURTHER SUBSTITUTED DIRECTING THE CLERK TO CAUSE A CERTIFIED COPY OF THE HEREIN RESOLUTION TO BE DELIVERED TO THE SUPERVISOR OF ELECTIONS OF MIAMI-DADE COUNTY, FLORIDA, NOT LESS THAN FORTY-FIVE (45) DAYS PRIOR TO THE DATE OF SUCH REFERENDUM SPECIAL ELECTION; PROVIDING AN IMMEDIATE EFFECTIVE DATE FOR THIS RESOLUTION. WHEREAS, the City of Miami ("City") is the owner of the waterfront property located 2550 South Bayshore Drive, Miami, Florida ("Property"); and WHEREAS, per the Lease Agreement originally dated , as supplemented and amended ("Lease"), Aligned Bayshore Marina LLC, also known a ("Bayshore Marina") currently leases the Property from the City; and onty's WHEREAS, the City and Bayshore Marina desire to enter into a Fifth A► endment to the Lease, which will extend the current lease term by an additional term of app iximately thirty- two (32) years, with two (2) ten (10) year options to renew for a possible to :1 term of fifty-two (52) years; increase minimum rent payment by an additional two hundre• housand dollars ($200,000.00) per lease year, for a minimum of ten million dollars ($10 '00,000.00) over the base term of 32 years, excluding the renewal options, or one and thr- - quarters percent (1.75%) of gross rent receipts from the Property, whichever is gre- -r; provide capital improvements to the Property of a minimum of seven million five undred thousand dollars ($7,500,000.00) to be spent within three (3) years of the electo-:te's approval of the Fifth Amendment; create a capital account requiring a minimum a'..itional investment on the Property of four million dollars ($4,000,000.00) over the a nded total term, inclusive of the renewal options; implement a Transfer Fee if the Prope is transferred or assigned; and further implement a Refinancing Fee should the Property be r financed after the initial financing; and WHEREAS, pursuant to the Charter of the ' ity ("Charter") Section 29-B entitled "City Owned Property Sale or Lease -Generally", and bpart A, Section 3(f)(iii), entitled "Powers", the City will need two (2) independent appraisaffirming the fair market value of the Fifth Amendment; WHEREAS, the Fifth Amendmen o the Lease with Bayshore Marina will require the City's consent to the related submergelands lease and waiver of deed restrictions required from the State of Florida, with other restrictions, reversions, and retention by the City of all other rights; and WHEREAS, the City C. mission has determined that the Fifth Amendment to the Lease will be in the City's best inter • st; and WHEREAS, purs .ant to Resolution No. , adopted on July 13, 2017, the City Attorney was directed • draft the ballot language contained herein; NOW, THE FORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORID Secti' 1. The recitals and findings contained in the Preamble to this Resolution are adopted b eference and incorporated as if fully set forth in this Section. ection 2. In accordance with the provisions of Section 29-B of the Charter of the City of M mi, as amended ("Charter"), and §6.03 of the Miami -Dade County Home Rule Charter, a R- rendum Special Election to be held concurrently with the General Municipal Election is being called d directed in the City of Miami, Florida, from 7:00 A.M. until 7:00 P.M., on Tuesday, November , 2017, including for the purpose of submitting to the qualified electors of the City for their approval or disapproval the proposed Charter Amendment for the Fifth Amendment to the Lease. SUBSTITUTED Section 3. Section 29-B of the Charter is proposed to be amended in the following particulars:1 "CHARTER AND CODE OF THE CITY OF MIAMI, FLORIDA SUBPART A. THE CHARTER Sec. 29-B. City -owned property sale or lease -Generally. Notwithstanding any provision to the contrary contained in this Charter or the City Code, and except as provided below, the city commission is prohibited from favorably considering any sale or lease of property owed by the city unless there is a return to the city of fair market value un. -r such proposed sale or lease. The city commission is also prohibit=: from favorably considering any sale or lease of city -owned property ess (a) there shall have been, prior to the date of the city commission' consideration of such sale or lease, an advertisement solicit for said sale or lease published in a daily newspaper of g circulation in the city, allowing not less than ninety (90) receipt of proposals from prospective purchasers or le advertisement to be no less than one-fourth (1/4) pa the advertisement to be in a type no smaller than as provided below, there shall have been at lea proposals received from prospective purchas there are less than three (3) such proposals guaranteed return under the proposal wh considered is equal to fair market value that the contemplated sale or lease wi subject to the approval of a majority a referendum, the sale or lease m owned property which is not wa to be sold or leased (individu property shall not be consid valuation purposes) is five based on an appraisal p commission, by a 4/5tn property after comp! above but without e g proposals eral paid ys for the city's sees, said and the headline in -point and, (b) except three (3) written or lessees; however, if eceived and if the e acceptance is being e city commission determines be in the city's best interest then, f the votes cast by the electorate at be consummated. In the case of city- rfront, when the value of such property easeholds within a single city -owned ed as a single parcel of property for such undred thousand dollars ($500,000) or less, rformed by a state -certified appraiser, the city affirmative vote, may sell or lease said city -owned nce with the advertisement requirements set forth necessity of a referendum. The above prisions and any other city requirements for competitive bidding shall not apply whe (a) conve ng property to implement housing programs or projects which are inte .ed to benefit persons or households with low and/or moderate income, th- criteria of which to be provided for by federal and/or state law or by the y commission; conveying property to implement projects authorized under the Florida Community Redevelopment Act of 1969, as amended; (c) conveying property to implement projects of any governmental agency or instrumentality; (d) disposing of property acquired as a result of foreclosure; Words and/or figures stricken through shall be deleted. Underscored words and/or figures shall be added. The remaining provisions are now in effect and remain unchanged. Asterisks indicate omitted and unchanged material. SUBSTITUTED (e) disposing of property acquired in connection with delinquent taxes which properties were conveyed to the city by the Miami -Dade board of county commissioners under the provisions of Section 197.592 Florida Statutes, as amended; and (f) disposing of non -waterfront property to the owner of an adjacent property when the subject property is 7,500 square feet or less or the subject no waterfront property is non -buildable. Notwithstanding anything herein to the contrary, the city commission •y a 4/5ths affirmative vote, may: (a) grant a lessee of city -owned property a one-time extension years of its lease, without the necessity of a referendum, funding additional capital improvements. The extended twenty-five percent of the original term or ten years, granting of such an extension is subject to the less as determined by the city at the time of such exte default of its lease with the city nor in arrearage .f and uring the last five r the purpose of rm shall not exceed ichever is less. The paying fair market rent ion and not being in any monies due the city; (b) amend the Lease Agreement between the City of Miami and Biscayne Bay Restaurant Corp., d/b/a Rusty Pelican, •.ted February 13, 1970, as amended, to (i) extend the lease for . additional term of fifteen (15) years, with the option to renew for two (2) - dditional five (5) year periods, (ii) increase the amount of the minimguarantee to the City to at least $360,000 per lease year effect! - upon execution of the lease amendment, and (iii) require Rusty Pelica o complete capital improvements to the property, including a public %aywalk, in the amount of not less than $3 Million, within twenty-four (24) m. the of the effective date of the lease amendment; and (c) waive competitive b for the City-owne of thirty (30) ye rent of $600 reversions, ding and execute a lease with Dade Heritage Trust, Inc. uilding located at 190 Southeast 12th Terrace, for a term s, with two (2) thirty (30) year renewals, for minimum annual with Consumer Price Index adjustments, with restrictions, nd retention by the City of all other rights-; and ( ) waive cpetitive bidding and execute a Fifth Amendment to the Lease Afireent with Aligned Bayshore Marina, LLC, also known as Monty's, to ext: d the current lease term by an additional term of approximately thirty- t . (32) years, with two (2) ten (10) year options to renew for a possible total rm of fifty-two (52) years; which will increase minimum rent payment by an additional two hundred thousand dollars ($200,000.00) per lease year, for a minimum of ten million dollars ($10,000,000.00) over the base term of thirty- two (32) years. excluding the renewal options, or one and three quarters percent (1.75%) of gross rent receipts from the Property, whichever is greater, as additional rent due the City; further providing capital improvements to the Property of a minimum of seven million five hundred thousand dollars ($7,500,000.00) to be spent within three (3) years of the electorate's approval of the Fifth Amendment to the Lease Agreement; further creating a capital account requiring a minimum additional investment to the Property of four million dollars ($4,000,000.00) over the amended total term, inclusive of the renewal options; implementing a Transfer Fee if the Property is transferred or assigned; and further implementing a Refinancing Fee SUBSTITUTED should the Property be refinanced after the initial financing; pursuant to the Charter of the City ("Charter") Section 29-B entitled "City Owned Property Sale or Lease -Generally", and Subpart A, Section 3(f)(iii), entitled "Powers", the City will need two (2) independent appraisals affirming the fair market value of the Fifth Amendment; further requiring the Citv's consent to the related submer ed lands lease and waiver of deed restrictions re• uired fro • the State of Florida with other restrictions reversions and retention b th City of all other rights. Notwithstanding anything in this Charter to the contrary, the City may leases or management agreements, for any City -owned submerged I entities having a possessory or ownership interest in the abutting ri uplands for building marinas, docks or like facilities, using metho ordinance on the condition that such leases or management ag a return to the City of at least fair market value." Section 4. The Referendum Special Election shall be held at the precincts designated, all as shown on the list attached hereto and made referred to as Exhibit No. 1 or as may be designated by the Supervis Dade County, Florida, in conformity with the provisions of the genera ("State"). The Precinct Election Clerks and Inspectors to serve at s Referendum Special Election date shall be those designated by Miami -Dade County, Florida, for such purpose in accordance State. A description of the registration books and records whi Election precincts wholly or partly within the City and which use for holding such Referendum Special Election is all certificates pertaining to electors of the City and esta Supervisor of Elections of Miami -Dade County, Florid laws of the State, are hereby adopted and declared t accepted as, official registration cards, books, recor Section 5. In compliance with Sect Referendum Special Election not otherw notice of the Referendum Special Ele in the City. The City Clerk is authori Resolution and of the provisions her week prior to the week in which th newspaper(s) of general circu form: e er into ds, with rian • adopted by ements result in • v ing places in the art hereof and of Elections of Miami- ws of the State of Florida d polling places on said e Supervisor of Elections of ith the general laws of the pertain to Referendum Special e City is adopting and desires to gistration cards, books, records and • shed and maintained as official by the n conformity with the provisions of the general e, and shall hereafter be recognized and s and certificates of the City. n 100.342, Florida Statutes (2016), regarding any e provided for there shall be at least thirty (30) days' on by publication in a newspaper of general circulation d and directed to publish notice of the adoption of this f, at least twice, once in the fifth week and once in the third aforesaid Referendum Special Election is to be held, in on in the City which notice shall be substantially in the following "N'. ICE OF REFERENDUM SPECIAL ELECTION TO END THE MIAMI CITY CHARTER TO BE HELD ON TUESDAY, NOVEMBER 7, 2017 IN THE CITY OF MIAMI, FLORIDA PURSUANT TO RESOLUTION NO. A ' ferendum Special Election will be held on Tuesday, November 7, 2017 from 7 '40 A.M. until 7:00 P.M. in the City of Miami, Florida, at the polling places in e several Referendum Special Election precincts designated by the Board of County Commissioners of Miami -Dade County, Florida, as set forth herein, unless otherwise provided by law, and submitting to the qualified electors of the City of Miami, Florida, the following question: "Shall the City's Charter be amended to extend the Aligned Bayshore Marina, LLC (Monty's) Lease an additional 52 years, waiving competitive bidding by a SUBSTITUTED 4/5ths affirmative vote; for City waterfront property at 2550 South Bayshore Drive; for the greater of additional minimum total rent of $10,000,000.00 or 1.75% of gross property rent over the initial 32 year term; $7,500,000.00 capital improvements;, a minimum $4,000,000.00 capital account over the total term, and transfer and refinancing fees." This Charter Amendment will amend Section 29-B of the Miami Charter to authorize the City Commission by a four -fifths (4/5ths) affirmative vote, waive competitive bidding and execute the Fifth Amendment to the Lease with Aligned Bayshore Marina, LLC, also known as Monty's, for an additional possible total term of 52 years, for City waterfront property at 2550 South Bayshore Drive, it the greater of additional minimum total rent of $10,000,000.00 or one and t► ee quarters percent (1.75%) of gross property rent over the initial 32 year ter $7,500,000.00 of capital improvements ; a minimum $4,000,000.00 catal account over the total term, and transfer and refinancing fees. By order of the Commission of the City of Miami, F •rida. City Clerk A list of City of Miami polling plac (Insert list of City of Miami Polli FOR AMENDS NT AGAINST A NDMENT follows: Places.) Section 6. The official ballot to be u d at said Referendum Special Election shall be in full compliance with the laws of the State with res' -ct to absentee ballots and to the use of the mechanical voting machines or the Computer Election stem, and shall be in substantially the following form, to wit: Proposed Charter Am a Lease extension "Official Ballot" eferendum Special Election Tuesday, November 7, 2017 for Ap• oval or Disapproval of the following question: dment allowing Aligned Bayshore (Monty's) viding additional rent and investments. "Shall the City's Charter be amended to extend the Aligned Bayshore Marina, LLC (Monty's) Lease an additional 52 years, waiving competitive bidding by a 4/5ths affirmative vote, for City waterfront property at 2550 South Bayshore Drive; for the greater of additional minimum total rent of $10,000,000.00 or 1.75% of gross property rent; $7,500,000.00 of capital improvements; a minimum $4,000,000.00 capital account over the total term; and transfer and refinancing fees." SUBSTITUTED FOR AMENDMENT AGAINST AMENDMENT Section 7. The form of the ballot shall be in accordance with requirements of gener election laws. Electors desiring to vote in approval of the Question described above shall instructed to vote their selection next to the word "FOR AMENDMENT" within the ballot containing the statement relating to the Question. Hectors desiring to vote to disapprove e Question shall be instructed to vote their selection next to the word "AGAINST AMEND' NT" within the ballot containing the statement relating to the Question. Once individuals ar satisfied with their choice, they shall press the "Vote" button and the ballot shall be cast. Section 8. The City Clerk shall cause to be prepared absentee ballot containing the Question set forth in Section 6 above for the use of absentee electors entitl d to cast such ballots in said Referendum Special Election. Section 9. All qualified electors of said City shall be permitteo vote in said Referendum Special Election and the Supervisor of Elections of Mi 1-Dade County, Florida, is hereby requested, authorized, and directed to furnish, at the cost and pense of the City, a list of all qualified electors residing in the City as shown by the registration b..ks and records of the Office of said Supervisor of Elections and duly certify the same for deli -ry to and for use by the election officials designated to serve at the respective polling place • in said general election precincts. Section 10. For the purpose of enabling person said Referendum Special Election to be held concurrent Tuesday, November 7, 2017, and who have not reg laws of the State and Chapter 16 of the Code of t their legal residence from one voting precinct to through Friday, from 8:00 A.M. to 5:00 P.M. a located at 2700 Northwest 87th Avenue, Dor designated by the Supervisor of Elections place and times, qualified persons may mobile registration van for the purpos Referendum Special Election durin Supervisor of Elections of Miami- o register who are qualified to vote in with the General Municipal Election on ered under the provisions of the general City of Miami, Florida, or who have transferred nother in the City, they may register Monday e Miami -Dade County Elections Department , Florida, within such period of time as may be Miami -Dade County, Florida. In addition to the above gister at such branch offices and may also use any of registration in order to vote in the herein described uch times and on such dates as may be designated by the de County, Florida. Section 11. Todd B. -nnon, the City Clerk of the City of Miami, Florida, or his duly appointed successor, is here• - designated and appointed as the official representative of the Commission of the City of ami, Florida, in all transactions with the Supervisor of Elections of Miami -Dade County, FI. da, related to matters pertaining to the use of the registration books and the holding of sai'. Referendum Special Election. Section 1 The City Clerk shall deliver a certified copy of this Resolution to the Supervisor of El r tions of Miami -Dade County, Florida, not less than forty-five (45) days prior to the date of e Referendum Special Election. S- tion 13. This Resolution shall become effective immediately upon its adoption and sig :ture of the Mayor.-' AP' ' OVED AS TO FORM AND CORRECTNESS: 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission..