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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #17075 Date: 12/26/2024 Commission Meeting Date: 01/23/2025 Requesting Department: Department of Real Estate and Asset Management Sponsored By: District Impacted: District 2 Type: Resolution Subject: Authorize - Lease Agreement - D2 Administrative Office Purpose of Item: A resolution of the Miami city commission, with attachment(s), authorizing the City manager to negotiate and execute a lease agreement ("Lease"), in a form acceptable to the City attorney, between the City and ISLAND DISTRICT DEVELOPMENT QOZB, LLC ("Landlord") for the use of portion of private property located 3646 Grand Ave, Miami, Florida 33133, for the purpose of operating an administrative office for District 2 with a monthly rent in the amount of four thousand two hundred and fifty dollars and zero cents ($4,250.00), a guarantee deposit of four thousand two hundred and fifty dollars and zero cents ($4,250.00), for an initial term of (3) three -years, with (2) two renewal options of (1) one year each, and a four percent (4%) increase on the annual rent, with terms and conditions as more specifically set forth in said lease agreement; further authorizing the City manager to negotiate and execute all necessary documents, including amendments and modifications to said agreement, in a form acceptable to the city attorney, as may be necessary. Background of Item: District 2 is seeking to lease a portion of privately owned property located at 3646 Grand Avenue, Miami, Florida 33133 ("Property") comprised of approximately 1,108 square feet of vacant retail office space ("Premises"). The intended use is to operate an administrative office. The total monthly rent amount is four thousand two hundred and fifty dollars and zero cents ($4,250.00). A guaranteed deposit of four thousand two hundred and fifty dollars and zero cents ($4,250.00) will also be payable to the Landlord. Subsequently, a four percent (4%) annual escalation in the base rent will be applied for every year during the initial term and each approved renewal term. Budget Impact Analysis Item is NOT Related to Revenue Item is an Expenditure Item is NOT funded by Bonds Total Fiscal Impact: Total Fiscal Impact: $ 51,000.00 General Account No: 54900 Reviewed B Department of Real Estate and Asset Management Review Completed 12/26/2024 1:51 PM Office of Management and Budget Pedro Lacret Office of Management and Budget Marie Gouin Department of Risk Management Ann -Marie Sharpe City Manager's Office City Manager's Office Legislative Division City Manager's Office Office of the City Attorney Office of the City Attorney City Commission Office of the City Clerk Larry M. Spring Natasha Colebrook -Williams Valentin J Alvarez Arthur Noriega V Jacqueline Lorenzo George K. Wysong III Maricarmen Lopez City Clerk's Office Andrew Frey Department Head Budget Analyst Review Budget Review Risk Review Assistant City Manager Deputy City Manager Review Legislative Division Review City Manager Review ACA Review Approved Form and Correctness Meeting Rendered Completed 01/02/2025 11:19 AM Completed 01/02/2025 2:08 PM Completed 01/02/2025 2:11 PM Completed 01/13/2025 5:30 PM Completed 01/13/2025 7:40 PM Completed 01/13/2025 7:50 PM Completed 01/13/2025 9:16 PM Completed 01/13/2025 10:21 PM Completed 01/13/2025 10:32 PM Completed 01/23/2025 9:00 AM Completed 01/29/2025 5:54 PM City of Miami Legislation Resolution Enactment Number: R-25-0002 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 17075 Final Action Date:1/23/2025 A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A LEASE AGREEMENT ("LEASE"), IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, BETWEEN THE CITY OF MIAMI ("CITY") AND ISLAND DISTRICT DEVELOPMENT QOZB, LLC ("LANDLORD"), FOR THE USE OF A PORTION OF PROPERTY LOCATED AT 3646 GRAND AVE, MIAMI, FLORIDA 33133 (FOLIO NO. 01-4121-007-4130), FOR THE PURPOSE OF OPERATING AN ADMINISTRATIVE OFFICE FOR DISTRICT 2, FOR AN ANNUAL RENT OF FIFTY ONE THOUSAND DOLLARS AND ZERO CENTS ($51,000.00), WITH A GUARANTEE DEPOSIT NOT TO EXCEED FOUR THOUSAND TWO HUNDRED FIFTY DOLLARS AND ZERO CENTS ($4,250.00), FOR AN INITIAL TERM OF THREE YEARS WITH TWO ONE-YEAR OPTIONS TO RENEW, SUBJECT TO A FOUR PERCENT (4%) INCREASE IN THE ANNUAL RENT, FROM LEGALLY AVAILABLE FUNDING SOURCES, WITH TERMS AND CONDITIONS AS MORE SPECIFICALLY SET FORTH IN SAID LEASE AGREEMENT; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ALL NECESSARY DOCUMENTS, INCLUDING AMENDMENTS AND MODIFICATIONS TO SAID AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AS MAY BE NECESSARY. WHEREAS, the City of Miami's ("City") Office of the District 2 Commissioner is interested in leasing privately owned property from Island District Development QOZB, LLC ("Landlord") for the use of an administrative office located at 3646 Grand Avenue, Miami, Florida 33133, identified by Folio No. 01-4121-007-4130 ("Property"); and WHEREAS, the City and Landlord desire and intend to enter into a new lease agreement incorporating the below -referenced terms ("Lease") and authorizing the City's use of the Property; WHEREAS, the annual rent will equal Fifty-one Thousand Dollars and Zero Cents ($51,000.00) for the first year; and WHEREAS, the initial term of the agreement shall be for a period of three (3) years, with the option to extend for two (2) successive one (1) year options; and WHEREAS, a guarantee deposit in an amount not to exceed Four Thousand, Two Hundred and Fifty Dollars and Zero Cents ($4,250.00), will also be payable to Landlord; and WHEREAS, a four percent (4%) increase in the annual rent will be applied annually during the Term, including in connection with any exercised options to renew; and 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 herein as if fully set forth in this Section. Section 2. The City Manager is hereby authorized' to negotiate and execute a Lease, in a form acceptable to the City Attorney, between the City and Landlord, for the use of a portion of the Property, for the purpose of operating an administrative office for District 2 for an annual rent of Fifty One Thousand Dollars and Zero Cents ($51,000.00), a guarantee deposit not to exceed Four Thousand, Two Hundred and Fifty Dollars and Zero Cents ($4,250.00) for an initial term of three years with two one-year options to renew, subject to a four percent (4%) increase in annual rent during the term, from legally available funding sources, with terms and conditions to be more specifically set forth in said Lease. Section 3. The City Manager is further authorized' to negotiate and execute all necessary documents, including amendments and modifications to said Lease, in a form acceptable to the City Attorney, as may be necessary. Section 4. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTNESS: rge = . Wyk ng II , C y ttor -y 1/13/2025 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.