HomeMy WebLinkAboutExhibit A CC 4/14 (OBSOLETE)LETTER OF INTENT
March 30, 2022
Dufirstson Julio Neree, Esq.
President/CEO
Martin Luther King Economic Development Corporation
710 NW 62nd Street
Miami, FL 33127
Dear Sir:
The following sets out the basic terms upon which we would be prepared to lease the property
referenced below. The terms are not comprehensive and we expect that additional terms, will
be incorporated into a formal lease agreement to be negotiated. The basic terms are as
follows:
1. Lessee: CITY OF MIAMI
2. Lessor: MARTIN LUTHER KING ECONOMIC DEVELOPMENT CORPORATION
3. Term: 4 Year Lease
4. Term Option: Month to month carry over at end of lease
5. Initial Lease Rate: $18.00 per sq ft plus tenant's proportionate share of Landlord's
operational expenses (percentage determined by landlord and
expressed in lease agreement) payable in monthly increments
with monthly base rate.
6. Lease Rate Option: Landlord has the option to increase the initial lease rate 3 %
annually during the lease term.
7. Renewal Option:
The term will be for an initial 4-year period with an option to
renew an additional 4 years, plus a month to month carry over
provision.
8. Usable sq ft: 6,355 sq ft
9. Security Deposit: The tenant will pay an amount agreed upon by the tenant and
landlord, which will be fully refundable at the end of the lease term,
10. Lease Period:
11. Premises:
12. Access:
if the conditions expressed in the lease agreement and executed
letter of intent are satisfied.
April 1, 2022 - March 31, 2026
6114-16 NW 7th Avenue, Miami, FL 33127
6130 NW 7th Avenue, Miami, FL 33127
6140 NW 7th Avenue, Miami, FL 33127
Upon execution of this letter of Intent, the tenant and it's advisors
will have access to the property to begin the necessary assessment
and paperwork to obtain the required documentation for
occupancy.
13. Cost: The tenant will bear their own expenses to build to suit for their
operational needs.
14. Acceptance: If the tenant is agreeable to the foregoing terms, please sign and
return to Lessor within 24 hours of acceptance.
Sincerely,
Authorized Signer for City of Miami
Printed Name of Authorized Signer
The above terms are accepted this day of , 2022.
Authorized Signer for Martin Luther King Economic Development Corporation
Printed name of Authorized Signer for Martin Luther King Economic Development
Corporation