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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #12505 Date: 08/31/2022 Commission Meeting Date: 09/22/2022 Requesting Department: Department of Real Estate and Asset Management Sponsored By: District Impacted: All Type: Resolution Subject: Auth. City Manager - Extend Lease Valoro Med Owner Purpose of Item: A Resolution of the Miami City Commission, with attachment(s), authorizing the City Manager to negotiate and execute an Addendum to Lease ("Agreement"), in a form acceptable to the City Attorney, between the City of Miami ("City") and Valoro Med Owner Inc. ("Lessor"), for City's continued use of approximately nine thousand two hundred eighty (9,280) square feet of office space located at 5040 NW 7th Street, Miami, Florida, for the operation of the Internal Affairs Division of the City's Police Department, with a monthly rental fee in an amount not to exceed approximately twenty three thousand nine hundred seventy four dollars ($23,974) ($31 per square foot per year), all-inclusive and with annual increases, for a period of five (5). Allocating funds from City Police Department's budget, with terms and conditions to be more specifically set forth in said agreement. Background of Item: The City of Miami ("City") is Lessee, and Valoro Med Owner LLC ("Lessor") is lessor, pursuant to a Lease Agreement dated June 15, 2015, as assigned and amended, ("Lease") providing for the use of nine thousand two hundred eighty (9,280) square feet of office space located at 5040 NW 7 Street, Miami, Florida, by the City Police Department's Internal Affairs Division ("Division"). The Lease is set to expire October 31, 2022 and the Division wishes to extend the Lease for the continued use of the office space. The City, with broker NAI Miami's assistance, has negotiated a rental rate for the use and occupancy of the premises at a rate of thirty-one dollars ($31) per square foot, escalating by one dollar ($1) per square foot on each anniversary thereafter, inclusive of all operating expenses. The City and Lessor wish to enter into an Addendum to Lease ("Agreement") to extend the term of the Lease for a period of five (5) years, pursuant to such terms set forth in the proposal, attached and incorporated as Exhibit A ("Proposal"). Budget Impact Analysis Item is NOT Related to Revenue Item is NOT funded by Bonds Item is an Expenditure Total Fiscal Impact: General Account No: 00001.190001.544000 Office of the City Attorney Office of Management and Budget Office of Management and Budget City Manager's Office Legislative Division City Manager's Office OMNI Community Redevelopment Office of the City Attorney City Commission Office of the City Clerk Reviewed B Jacqueline Lorenzo Pedro Lacret Marie Gouin Larry M. Spring Valentin J Alvarez Arthur Noriega V Agency Victoria Mendez Nicole Ewan City Clerk's Office Department Head Review Budget Analyst Review Budget Review Assistant City Manager Review Legislative Division Review City Manager Review Isiaa Jones Approved Form and Correctness Meeting Rendered Completed Completed Completed Completed Completed Completed ACA Review Completed Completed Completed 09/01/2022 9:58 AM 09/01/2022 2:24 PM 09/01/2022 2:28 PM 09/06/2022 12:04 PM 09/07/2022 10:57 AM 09/07/2022 4:16 PM Completed 09/12/2022 9:27 AM 09/22/2022 9:00 AM 09/26/2022 2:58 PM City of Miami Legislation Resolution Enactment Number: R-22-0352 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 12505 Final Action Date:9/22/2022 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE AN ADDENDUM ("AGREEMENT") TO THE LEASE AGREEMENT BETWEEN THE CITY OF MIAMI AND TMSA ALTIS 5040 LLC FOR THE CITY OF MIAMI'S CONTINUED USE OF APPROXIMATELY NINE THOUSAND TWO HUNDRED EIGHTY SQUARE FEET ("9,280 SQ. FT.") OF OFFICE SPACE LOCATED AT 5040 NORTHWEST 7 STREET, MIAMI, FLORIDA ("PROPERTY"), FOR THE PURPOSE OF EXTENDING THE TERM OF THE LEASE BETWEEN THE CITY OF MIAMI ("CITY") AND CURRENT OWNER VALORO MED OWNER, LLC ("LESSOR"), FOR THE OPERATION OF THE INTERNAL AFFAIRS DIVISION OF THE MIAMI POLICE DEPARTMENT ("MPD"), FOR AN INITIAL MONTHLY RENTAL FEE IN AN AMOUNT NOT TO EXCEED APPROXIMATELY TWENTY THREE THOUSAND NINE HUNDRED SEVENTY FOUR DOLLARS ($23,974.00) (APPROXIMATELY $31.00 PER SQUARE FOOT PER YEAR), ALL INCLUSIVE AND WITH ANNUAL INCREASES, FOR A PERIOD OF FIVE (5) YEARS, AS MORE PARTICULARLY SET FORTH IN THE PROPOSAL ATTACHED AND INCORPORATED AS EXHIBIT A ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY; ALLOCATING FUNDS FROM THE MPD'S BUDGET, WITH TERMS AND CONDITIONS AS MORE SPECIFICALLY SET FORTH HEREIN AND IN SAID AGREEMENT. WHEREAS, the City of Miami ("City") entered into a Lease Agreement dated June 15, 2015, as assigned and amended ("Lease"), providing for the use of nine thousand two hundred eighty (9,280) square feet of office space located at 5040 Northwest 7 Street, Miami, Florida, by the Miami Police Department's ("MPD") Internal Affairs Division ("Division"); and WHEREAS, the Lease is set to expire October 31, 2022, and the Division wishes to execute an Addendum to the lease agreement for the purposes of extending the Lease for the continued use of the office space with the current owners Valoro Med Owner LLC ("Lessor"); and WHEREAS, the City, with broker NAI Miami's assistance, has negotiated a rental rate for the use and occupancy of the premises at a rate of thirty-one dollars ($31) per square foot on an annual basis, escalating by one dollar ($1) per square foot on each anniversary thereafter, inclusive of all operating expenses; and WHEREAS, the City and Lessor wish to enter into an Addendum to Lease ("Agreement") to extend the term of the Lease for a period of five (5) years, as more particularly set forth in the proposal attached and incorporated as Exhibit "A" ("Proposal"); and WHEREAS, the City Manager is authorized to negotiate and execute the Agreement in a form acceptable to the City Attorney. 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 hereby adopted by reference and incorporated as fully set forth in this Section. Section 2. The City Manager is hereby authorized' to negotiate and execute an Agreement, in a form acceptable to the City Attorney, for the purpose of extending the term of the Lease, for the City's continued use of approximately nine thousand two hundred eighty (9,280) square feet of office space located at 5040 Northwest 7 Street, Miami, Florida, for the operation of the Division, with a monthly rental fee in an amount not to exceed approximately twenty three thousand nine hundred seventy four dollars ($23,974.00) (approximately $31.00 per square foot), all-inclusive and with annual increases, for a period of five (5) years as set forth in the Proposal, with funds allocated from the MPD's budget, and with terms and conditions as more specifically set forth in said Agreement. Section 3. This Resolution shall become effective immediately. APPROVED AS TO FORM AND CORRECTNESS: ndez, ity Attor ey 9/12/2022 1 The herein authorization is further subject to compliance with all requirements that may be imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter and Code provisions