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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #2603 Date: 07/21/2017 Commission Meeting Date: 10/26/2017 Requesting Department: Department of Real Estate and Asset Management Sponsored By: District Impacted: District 2 Type: Discussion Item Subject: Discussion - Unsolicited Proposal for Olympia Theater Purpose of Item: A Discussion Item to be heard by the Miami City Commission, with attachment(s), reviewing the unsolicited proposal submitted by RUDG, LLC ("Related") for a Public - Private Partnership ("P3") to redevelop the existing 80 residential units above the Olympia Theater and capital improvements to the theater ("Project") in accordance with Section 18-119, City of Miami Code of Ordinances. Background of Item: The City of Miami ("City") owns the property located at 174 East Flagler Street, Miami, Florida and known as the Olympia Theater or Gusman Theater ("Theater"). The Property is currently managed by Olympia Center, Inc., a Florida Not -For -Profit corporation. The City of Miami Department of Real Estate and Asset Management has received an unsolicited proposal from RUDG, LLC, also known as Related ("Developer") for the redevelopment of the existing 80 residential units and the capital improvements to the theatre. RUDG is proposing to demolish and replicate the existing building in accordance with the City of Miami Historic Preservation Office standards, into a mixed - income affordable and workforce housing development, containing between 200 and 300 units, and to renovate the Theater. As per section 18-119 of the City of Miami Code of Ordinances, the City shall first notify the commission of the unsolicited proposal by placement of a discussion item on the agenda for the Commission's approval to proceed with said unsolicited proposal project. Budget Impact Analysis Item has NO budget impact Total Fiscal Impact: N/A Real Estate and Asset Management Office of Management and Budget Office of Management and Budget City Manager's Office Legislative Division City Manager's Office Office of the City Attorney Office of the City Attorney City Commission City Commission City Commission City Commission Reviewed B Aldo Bustamante Everton Garvis Christopher M Rose Alberto N. Parjus Carolina Aguila Fernando Casamayor Carolina Aguila Carolina Aguila Nicole Ewan Nicole Ewan Nicole Ewan Nicole Ewan Department Head Review Budget Analyst Review Budget Review Assistant City Manager Review Legislative Division Review City Manager Review Deputy City Attorney Review Approved Form and Correctness Meeting Meeting Meeting Meeting Completed 07/21/2017 12:17 PM Completed 07/24/2017 3:03 PM Completed 08/14/2017 9:50 AM Completed 08/15/2017 11:54 PM Skipped 08/11/2017 11:47 AM Completed 08/16/2017 3:00 PM Skipped 08/11/2017 11:48 AM Skipped 08/11/2017 11:48 AM Completed 09/14/2017 9:00 AM Completed 09/19/2017 9:00 AM Completed 10/12/2017 9:00 AM Completed 10/26/2017 9:00 AM