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Home My WebLink AboutSummary Form-SUBTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. AGENDA ITEM SUMMARY FORM File ID: #4968 Date: 10/25/2018 Commission Meeting Date: 11 /15/2018 RE.14 Requesting Department: Department of Real Estate and Asset Management Sponsored By: District Impacted: District 2 Type: Resolution Subject: Accept Grant - Olympia Theater Office Building Purpose of Item: A Resolution of the City of Miami Commission, with attachment(s), authorizing Olympia Center Inc. ("Olympia") as manager, to execute a Grant Agreement, in substantially the attached form, with the State of Florida, Department of State, Division of Historical Resources ('`Division"), in order to receive State Historic Preservation Grant assistance funds in the amount of five hundred thousand dollars ($500,000.00) to be used for the restoration and preservation of the Olympia Theater Building facade, and authorizing the City Manager to execute a Restrictive Covenant with Olympia, in substantially the attached form, and an assignment agreement in a form acceptable to the City Attorney, requiring Olympia to assign the Agreement with the Division over to the City, should their Management Agreement for the Olympia Theater Building be terminated or cancelled, with terms and conditions more particularly set forth in the agreements. Background of Item: The City of Miami ("City") is the fee simple titleholder of the Property located at 174 E. Flagler Street, Miami, Miami -Dade County, Florida, known as the Olympia Theater Building ("Theater"). The Theater is currently being managed by Olympia Center, Inc. ("Olympia"), a non-profit corporation of the State of Florida. In 2016 Olympia, applied for matching funds from the State of Florida to begin the specialized, engineering analysis, documentation, design and construction document development for restoration/repair of the facade for the Olympia Theater and Office Building. Their application was ranked in the top ten and awarded Five Hundred Thousand Dollars ($500,000.00) in FY18-19 State of Florida preservation funds to match monies already allocated for facade repairs in City of Miami Office of Capital Improvements 40-B70100. The covenant is a mandatory attachment to the State of Florida's Grant Agreement with Olympia that provides the match funding for Phase 1 repair of the City of Miami owned historic Olympia Theater and Office Building. The City and Olympia will enter into an assignment agreement, in a form acceptable to the City Attorney, that will cause Olympia to assign the Grant Agreement to the City, should their Management Agreement be cancelled or terminated. Budget Impact Analysis 4968 Summary Form -SUB THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Item is Related to Revenue Item is an Expenditure Item is NOT funded by Bonds Total Fiscal Impact: $500,000,00 Special Revenue Account No: 40-870100 Reviewed By Real Estate and Asset Management Aldo Bustamante Office of Management and Budget Carolina Bazail Office of Management and Budget Carolina Bazait Office of Management and Budget Christopher M Rose City Manager's Office Fernando Casamayor Legislative Division Valentin J Alvarez City Manager's Office Nikolas Pascual Office of the City Attorney Valentin J Alvarez Office of the City Attorney Valentin J Alvarez Office of the City Attorney Victoria Mendez City Commission Todd B. Hannon Department Head Review Budget Analyst Review Budget Analyst Review Budget Review Assistant City Manager Review Legislative Division Review City Manager Review ACA Review Deputy City Attorney Review Approved Form and Correctness Meeting Completed 10/25/2018 9:04 AM Skipped 10/25/2018 2:08 PM Skipped 11/05/2018 2:49 PM Completed 11/05/2018 4:24 PM Completed 11/05/2018 5:43 PM Completed 11/05/2018 5:47 PM Completed 11/05/2018 6:21 PM Skipped 11/05/2018 6:18 PM Skipped 11/05/2018 6:14 PM Completed 11/05/2018 6:54 PM Pending 11/15,2018 9:00 AM SUBSTITUTED AGENDA ITEM SUMMARY FORM File ID: #4968 Date: 10/25/2018 Commission Meeting Date: 11/15/2018 Requesting Department: Department of Real Estate and Asset Management Sponsored By: District Impacted: District 2 Type: Resolution Subject: Accept Grant - Olympia Theater Office Building Purpose of Item: A Resolution of the City of Miami Commission, with attachment(s), auth• izing Olympia Center Inc. ("Olympia") as manager, to execute a Grant Agreement, i ubstantially the attached form, with the State of Florida, Department of State, Divisi• of Historical Resources ("Division"), in order to receive State Historic Preserv. ' on Grant assistance funds in the amount of five hundred thousand dollars ($500,001 60) to be used for the restoration and preservation of the Olympia Theater Building : cade, and authorizing the City Manager to execute a Restrictive Covenant with 0 mpia, in substantially the attached form, and an assignment agreement in a form . ceptable to the City Attorney, requiring Olympia to assign the Agreement with the Di ion over to the City, should their Management Agreement for the Olympia Theat-- Building be terminated or cancelled, with terms and conditions more particully set forth in the agreements. Background of Item: The City of Miami ("City") is the fee simpl- itleholder of the Property located at 174 E. Flagler Street, Miami, Miami -Dade Cou , Florida, known as the Olympia Theater Building ("Theater"). The Theater is c rently being managed by Olympia Center, Inc. ("Olympia"), a non-profit corporatio of the State of Florida. In 2016 Olympia, applied for specialized, engineering a development for restora Building. Their applic Thousand Dollars ($ match monies alr Improvements atching funds from the State of Florida to begin the lysis, documentation, design and construction document n/repair of the facade for the Olympia Theater and Office on was ranked in the top ten and awarded Five Hundred 0,000.00) in FY18-19 State of Florida preservation funds to dy allocated for facade repairs in City of Miami Office of Capital -B70100. The coven_ is a mandatory attachment to the State of Florida's Grant Agreement with Olympia ' at provides the match funding for Phase 1 repair of the City of Miami owned historic • Iympia Theater and Office Building. Th current Management Agreement ("Management Agreement") between Olympia and t► City contains a One Hundred Eighty Day (180) termination for convenience clause and the City is agreeing to not exercise the previously mentioned clause of the Management Agreement in a time frame where the effective date of the cancellation would be before September 30th, 2020. SUBSTITUTED The City and Olympia will enter into an assignment agreement, in a form acceptable to the City Attorney, that will cause Olympia to assign the Grant Agreement to the City, should their Management Agreement be cancelled or terminated. Budget Impact Analysis Item is Related to Revenue Item is an Expenditure Item is NOT funded by Bonds Total Fiscal Impact: $500,000.00 Special Revenue Account No: 40-B701 00 Real Estate and Asset Management Office of Management and Budget Office of Management and Budget Office of Management and Budget City Manager's Office Legislative Division City Manager's Office Office of the City Attomey Office of the City Attomey Office of the City Attorney City Commission Reviewed By Aldo Bustamante Carolina Bazail Carolina Bazail Christopher M Rose Femando Casamayor Valentin J Alvarez Nikolas Pascual Valentin J Alvarez Valentin J Alvarez Victoria Mendez Todd B. Hannon Department Head Review Budget Analyst Review Budget Analyst Revie Budget Review Assistant City Ma Legislative Divis' City Manager ACA Revie Deputy C. Approv Meeti Completed 10/25/2018 9:04 AM Skipped 10/25/2018 2:08 PM Skipped 11/05/2018 2:49 PM Completed 11/05/2018 4:24 PM ger Review Completed 11/05/2018 5:43 PM Review Completed 11/05/2018 5:47 PM view Completed 11/05/2018 6:21 PM Skipped 11/05/2018 6:18 PM Attomey Review Skipped 11/05/2018 6:14 PM Form and Correctness Completed 11/05/2018 6:54 PM Pending 11/15/2018 9:00 AM