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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #16879 Date: 10/31/2024 Commission Meeting Date: 11/21/2024 Type: Subject: Requesting Department: Department of Finance Sponsored By: District Impacted: All Resolution Approved Interlocal Agrmt - SEOPW - City Of Miami Purpose of Item: A RESOLUTION TO APPROVE AND EXECUTE AN AMENDMENT TO THE INTERLOCAL AGENCY AGREEMENT BETWEEN THE SEOPW CRA, THE CITY OF MIAMI AND SFRTA FOR PAYMENT OF $17,528,049 BY THE SEOPW CRA AND THE CITY FOR THE TRI-RAIL STATION IMPROVEMENTS AT THE MIAMI CENTRAL STATION, CONSISTENT IN CONCEPT AND PRINCIPLE WITH THE TERMS OUTLINED HEREIN. Background of Item: The City of Miami ("City"), the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW CRA" or "CRA") and SFRTA entered the Interlocal Agreement on November 8, 2016 ("Agreement"), which provided for the City to issue debt on behalf of the SEOPW CRA for payment of $17,528,049 ("Grant") towards the cost of constructing the Tri-Rail Station Improvements at the Miami Central Station to facilitate travel between the redevelopment area of the CRA, the City and other urban centers across South Florida by supporting SFRTA's extension of its Tri-Rail passenger commuter rail service to Downtown Miami. Budget Impact Analysis Item is NOT Related to Revenue Item has NOT an Expenditure Item is funded by Bonds Total Fiscal Impact: N/A Department of Finance Office of Management and Budget Office of Management and Budget City Manager's Office City Manager's Office City Manager's Office Legislative Division Office of the City Attorney Reviewed B Erica T Paschal Donovan Dawson Marie Gouin Larry M. Spring Natasha Colebrook -Williams Arthur Noriega V Valentin J Alvarez Xavier Alban Department Head Review Budget Analyst Review Budget Review Assistant City Manager Review Deputy City Manager Review City Manager Review Legislative Division Review ACA Review Completed 11/08/2024 8:39 AM Completed 11/12/2024 2:08 PM Completed 11/12/2024 4:24 PM Completed 11/12/2024 7:03 PM Completed 11/12/2024 7:26 PM Completed 11/12/2024 7:41 PM Completed 11/12/2024 7:42 PM Completed 11/12/2024 7:58 PM Office of the City Attorney George K. Wysong III Approved Form and Correctness Completed 11/12/2024 8:10 PM City Commission Maricarmen Lopez Meeting Completed 11/21/2024 9:00 AM Office of the City Clerk City Clerk's Office Rendered Completed 11/26/2024 10:27 AM City of Miami Legislation Resolution Enactment Number: R-24-0467 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 16879 Final Action Date:11/21/2024 A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE AN AMENDMENT TO THAT CERTAIN INTERLOCAL AGENCY AGREEMENT BETWEEN THE CITY OF MIAMI ("CITY"), SOUTH FLORIDA REGIONAL TRANSPORTATION AUTHORITY ("SFRTA"), AND THE SOUTHEAST/OVERTOWN PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA") DATED NOVEMBER 8, 2016, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR THE DEVELOPMENT OF THE TRI-RAIL DOWNTOWN MIAMI LINK PROJECT; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL OTHER NECESSARY DOCUMENTS, MODIFICATIONS, AND AMENDMENTS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, pursuant to Resolution No. R-15-0339 adopted on July 23, 2015, the City of Miami ("City") executed a certain Interlocal Agency Agreement dated November 8, 2016 ("Interlocal Agreement"), with the South Florida Regional Transportation Authority ("SFRTA"), and the Southeast/Overtown Park West Community Redevelopment Agency ("SEOPW CRA") for the implementation of the Tri-Rail Downtown Miami Link Project ("Project"); and WHEREAS, the Interlocal Agreement provided for the City to issue debt on behalf of the SEOPW CRA for payment of $17,528,049.00 ("Grant") towards the cost of constructing the Project to facilitate travel between the redevelopment area of the CRA, the City and other urban centers across South Florida by supporting SFRTA's extension of its Tri-Rail passenger commuter rail service to downtown Miami; and WHEREAS, the City, SFRTA, and the SEOPW CRA find that it is in the best interest of the parties to amend the Interlocal Agreement in the following particulars: 1. Amend the Interlocal Agreement to provide that the source of payment of the Grant will be determined solely by the City and the SEOPW CRA, and that, regardless of the source of the payment of the Grant, both the City and the SEOPW CRA shall provide the entire Grant amount to SFRTA no later than December 31, 2024. 2. Delete certain provisions of Section 3.2 that preclude the SEOPW CRA from issuing any debt prior to payment of the Grant amount, as long as any debt issued by the SEOPW CRA (or the City on the SEOPW CRA's behalf) subsequent to the date of the amendment to the Interlocal Agreement includes the entire Grant amount owed to SFRTA and the payment of the Grant amount to SFRTA is made in full before any other parties (including the City or SEOPW CRA) receive or expend any other proceeds from the issuance of such debt. 3. Delete Section 3.3 of the Interlocal Agreement to remove the bond validation requirements. 4. Amend the Interlocal Agreement to provide for termination of the Interlocal Agreement upon payment of the Grant amount in full. (collectively, "Interlocal Amendments"); and WHEREAS, on October 25, 2024, the SFRTA Board authorized the Executive Director of the SFRTA to negotiate and execute an amendment to the Interlocal Agreement to incorporate the Interlocal Amendments; and WHEREAS, the SEOPW CRA at its November 21, 2024 regular meeting is anticipated to authorize its Executive Director to negotiate and execute an amendment to the Interlocal Agreement to incorporate the Interlocal Amendments; and WHEREAS, it is in the best interest of the City to authorize the City Manager, or his designee, to negotiate and execute an amendment to the Interlocal Agreement to incorporate the Interlocal Amendments; 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. The City Manager, or designee, is authorized1 to negotiate and execute an amendment to the Interlocal Agreement to incorporate the Interlocal Amendments, in a form acceptable to the City Attorney, between the City, the SFRTA, and the SEOPW CRA for the Project. Section 3. The City Manager, or designee, is further authorized' to negotiate and execute any and all other necessary documents, modifications, and amendments, all in forms acceptable to the City Attorney, for said purpose. Section 4. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTNESS: rge Wy, ng IIV, Cty ttor -y 11/12/2024 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.