HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #7394
Date: 04/17/2020
Commission Meeting Date: 05/14/2020
Requesting Department: Department of Real
Estate and Asset Management
Sponsored By:
District Impacted: District 5
Type: Resolution
Subject: Execute Lease Agreement - Rivercow, LLC
Purpose of Item:
A Resolution of the City of Miami Commission, with attachment (s), authorizing the City
Manager to execute a Lease Agreement ("Agreement"), In substantially the attached
form, between the City of Miami ("City" or "Lessor") a municipal corporation of the State
of Florida, having its principal office at 444 S.W. 2nd Avenue, Miami Florida 33130 and
RIVERCOW, LLC, a Florida limited liability company, having a mailing address of 20815
NE 16th Avenue, Suite B17, Miami, Florida 33179, ("Lessee"), for the use and
occupancy of a certain portion of City owned property located at 8034 NE 2nd Avenue,
Miami, FL, 33138 ("Premises"), in exchange for an annual rent in the amount of
Nineteen Thousand Two Hundred Dollars and No/100 ($19,200.00) per year.
Background of Item:
The City owns the property located at 8034 NE 2nd Avenue, Miami, FL, 33138
("Premises") known as Little River Commerce Park. The Lessee wishes to use and
occupy the Premises as a public park for the enjoyment of the general public and the
tenants, employees and invitees of the Rivercow Building (the "Permitted Use") located
adjacent to the Premises.
The initial Lease Term is for a period of thirty (30) years with options to extend this
Lease for two (2) additional terms of ten (10) years each. The Lessee will pay the City
Nineteen Thousand Two Hundred Dollars and No/100 ($19,200.00) per year ("Minimum
Base Rent") with a 3% increases each Lease Year. In addition, the Lessee will complete
improvements to the Premises and maintain them at their own expense.
The City Commission is authorized to allow the leasing of this property to the Lessee
under Section 29-B(f) of the City Charter that exempts the City from any competitive
bidding requirements when conveying City -owned property if the City is "disposing of
non -waterfront property to the owner of an adjacent property when the subject property
is 7,500 sq. ft. or less".
The City has determined that the Minimum Base Rent constitutes Fair Market Value
based on two (2) State -certified general appraisers hired by the Lessor.
Budget Impact Analysis
Item is Related to Revenue
Item has NOT an Expenditure
Item is NOT funded by Bonds
Total Fiscal Impact:
$ 19,200 Annual Use Fee Revenue
04002.221100.448000.0000.00000
Real Estate and Asset Management Aldo Bustamante
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
Department of Fire -Rescue
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the Mayor
Office of the City Clerk
Office of the City Clerk
Reviewed B
Carolina Aguila
Pedro Lacret
Christopher M Rose
Fernando Casamayor
Valentin J Alvarez
Arthur Noriega V
Daniel Diaz
Barnaby L. Min
Victoria Mendez
Nicole Ewan
Mayor's Office
City Clerk's Office
City Clerk's Office
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
Unsigned by the Mayor
Signed and Attested by the City
Rendered
Completed
Skipped
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Clerk Completed
Completed
04/17/2020 2:10 PM
04/24/2020 8:53 AM
04/24/2020 9:55 AM
04/24/2020 10:27 AM
04/24/2020 12:30 PM
04/27/2020 9:24 AM
04/28/2020 11:48 AM
05/01/2020 10:44 AM
05/01/2020 10:54 AM
05/05/2020 12:21 PM
05/14/2020 9:00 AM
05/26/2020 7:35 PM
05/26/2020 7:40 PM
05/26/2020 7:40 PM
City of Miami
Legislation
Resolution
Enactment Number: R-20-0144
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 7394 Final Action Date:5/14/2020
A RESOLUTION OF THE CITY OF MIAMI COMMISSION, WITH ATTACHMENT(S),
PURSUANT TO SECTION 29-B(F) OF THE CHARTER OF THE CITY OF MIAMI,
FLORIDA, AS AMENDED, AUTHORIZING THE CITY MANAGER TO EXECUTE A
LEASE AGREEMENT ("AGREEMENT"), IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY, BETWEEN THE CITY OF MIAMI, A MUNICIPAL CORPORATION OF
THE STATE OF FLORIDA ("CITY"), AND RIVERCOW, LLC, A FLORIDA LIMITED
LIABILITY COMPANY ("LESSEE"), FOR THE USE AND OCCUPANCY OF A
CERTAIN PORTION OF CITY -OWNED PROPERTY LOCATED AT 8034 NORTHEAST
2ND AVENUE, MIAMI, FLORIDA ("PREMISES") IN EXCHANGE FOR AN ANNUAL
RENT IN THE AMOUNT OF NINETEEN THOUSAND TWO HUNDRED DOLLARS
AND NO/100 ($19,200.00) WITH OTHER TERMS AND CONDITIONS AS DESCRIBED
IN THE AGREEMENT.
WHEREAS, the City of Miami ("City") owns the property located at 8034 Northeast 2
Avenue, Miami, Florida ("Property"); and
WHEREAS, Rivercow, LLC, a Florida limited liability company ("Lessee"), wishes to use
and occupy a portion of the Property ("Premises") as a public park, as well as for the enjoyment
of the general public and the tenants, employees, and invitees of the Lessee ("Permitted Uses");
and
WHEREAS, the initial lease term is for a period of thirty (30) years with two (2) additional
ten (10) year options to renew ("Renewal Terms"); and
WHEREAS, the Lessee will pay the City nineteen thousand two hundred dollars
($19,200.00) per year for its use of the Premises ("Minimum Base Rent") with a three percent
(3%) annual increase; and
WHEREAS, Section 29-B(f) of the Charter of the City of Miami, Florida, as amended
("City Charter"), allows the City Commission to lease City property without the requirements of
competitive bidding when 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 property is non -
buildable"; and
WHEREAS, the Premises and the Lessee meet the requirements as outlined in Section
29-B(f) of the City Charter; and
WHEREAS, the City has determined that the Minimum Base Rent in the lease
constitutes fair market value based on two (2) state -certified general appraisers; and
WHEREAS, the Lessee will make improvements to the Premises as described in further
detail in Exhibit "B" of the lease, such improvements being a benefit to the residents of the City;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, 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. Pursuant to Section 29-B(f) of the City Charter, the City Manager is
authorized' to execute a lease agreement ("Agreement"), in a form acceptable to the City
Attorney, between the City and the Lessee for the Permitted Uses on the Premises with an
initial annual Minimum Base Rent in the amount of nineteen thousand two hundred dollars and
No/100 ($19,200.00) per year, with percentage escalators thereto, and other terms and
conditions as described in the Agreement.
Section 3. This Resolution shall become effective immediately upon adoption and
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
ndez, City tutor ey 5/5/2020
1 The herein authorization is further subject to compliance with all legal requirements that may be
imposed, including but not limited to, those prescribed by applicable City Charter and City Code
provisions.
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.