HomeMy WebLinkAboutCRA-R-24-0057 MemorandumSEOPW Board of Commissioners Meeting
September 26, 2024
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Christine King Date: September 27, 2024
and Members of the CRA
Board File: 16695
From: James McQueen
Executive Director
Subject: Sublease Agreement for Office
Space at the Brightline Miami
Central Station
Enclosures: File # - 16695 - Exhibit A
File # 16695 - Backup
BACKGROUND:
A Resolution of the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency ("SEOPW CRA Board"), with attachment(s), authorizing the Executive Director
to execute a new Sublease Agreement ("Sublease"), in substantially the form attached as Exhibit "A,"
with Brightline Trains Florida LLC, a Delaware limited liability company ("Brightline"), located at 350
N.W. lst Avenue, Suite 200, Miami, Florida 33136 ("Building"), where Brightline currently has access to
2,419 rentable square feet of space on the mezzanine level in the retail element of the Building
("Premises"), for approximately 603 rentable square feet of the Premises ("Subleased Premises") for a
term of ten (10) years from commencement, with the option to renew for four (4) additional terms of one
(1) year each, for an annual amount not to exceed Sixteen Thousand Eight Hundred Dollars and Zero
Cents ($16,800.00) ("Funds") ("Purpose").
It is recommended that the SEOPW CRA Board approve and adopt the attached Resolution, authorizing
the allocation of Funds to Brightline for the Purpose stated herein.
JUSTIFICATION:
Section 163.370, Florida Statutes authorizes the SEOPW CRA to enter into leases for property within the
redevelopment area.
FUNDING:
Funds to be allocated from the Rentals and Leases Account No. 10050.920101.544000.0000.00000 as
follows:
$16,800 annually for ten (10) year term.
FACT SHEET:
Company name: Brightline Trains Florida LLC
Address: 350 N.W. 1st Avenue, Suite 200, Miami, Florida 33136.
Funding request: $16,800.00 annually for ten (10) year term.
Scope/Summary: Authorization for execution of a Sublease Agreement with Brightline Trains Florida
LLC until 2034, with the option to renew.
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AGENDA ITEM
FINANCIAL INFORMATION FORM
SEOPW CRA
CRA Board Meeting Date: September 26, 2024
CRA Section:
Brief description of CRA Agenda Item:
Authorizing the Executive Director to execute a Sublease Agreement in an amount not
to exceed $16,800.00 annually at the Miami Central Station.
Project Number
YES, there
Account Code:
(if applicable):
are sufficient funds in Line Item:
10050.920101.544000.0000.00000 Amount: $1 6 , 8 0 0.0 0
NO (Complete the following source of funds information):
Amount budgeted in the line item: $
Balance in the line item: $
Amount needed in the line item: $
Sufficient funds will be transferred from the following line items:
ACTION
ACCOUNT NUMBER
TOTAL
Project No./Index/Minot Object
From
$
To
$
From
$
To
$
Comments:
Approved by:
Approval:
Executive Director 9/19/2024
Miguel A Valentin, r riarce Off;cer 9/19/2024
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Southeast Overtown/Park West
Community Redevelopment Agency
File Type: CRA Resolution
Enactment Number: CRA-R-24-0057
File Number: 16695 Final Action Date:9/26/2024
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("SEOPW
CRA"), WITH ATTACHMENT(S), AUTHORIZING THE EXECUTIVE DIRECTOR TO
EXECUTE A NEW SUBLEASE AGREEMENT ("SUBLEASE"), IN SUBSTANTIALLY
THE FORM ATTACHED AS EXHIBIT "A," BETWEEN THE SEOPW CRA AND
BRIGHTLINE TRAINS FLORIDA, LLC, A DELAWARE LIMITED LIABILITY COMPANY,
("BRIGHTLINE"), FOR 603 SQUARE FEET OF OFFICE SPACE ("PURPOSE") AT THE
MIAMI CENTRAL STATION, LOCATED AT 350 N.W. 1ST AVENUE, SUITE 200,
MIAMI, FLORIDA, 33128 ("BUILDING"), FOR WHICH TERMS MAY BE AMENDED BY
THE EXECUTIVE DIRECTOR, ALL IN FORMS ACCEPTABLE TO COUNSEL,
ALLOCATING FUNDS FOR AN ANNUAL AMOUNT NOT TO EXCEED SIXTEEN
THOUSAND EIGHT HUNDRED DOLLARS AND ZERO CENTS ($16,800.00) FROM
ACCOUNT NO. 10050.920101.544000.0000.00000; PROVIDING FOR THE
INCORPORATION OF RECITALS AND AN EFFECTIVE DATE.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("SEOPW
CRA") is a community redevelopment agency created pursuant to Chapter 163, Florida Statutes, and is
responsible for carrying out community redevelopment activities and projects within its Redevelopment
Area in accordance with the 2018 Updated Southeast Overtown/Park West Community Redevelopment
Plan ("Plan"); and
WHEREAS, Section 163.370, Florida Statutes authorizes the SEOPW CRA to enter into leases
for property within the Redevelopment Area; and
WHEREAS, Brightline Trains Florida LLC, a Delaware limited liability company (`Brightline"),
is a tenant located at 350 N.W. 1st Avenue, Suite 200, Miami, Florida 33136 ("Building"); and
WHEREAS, the SEOPW CRA and Brightline wish to enter into a Sublease Agreement
("Sublease"), substantially in the form attached as Exhibit "A" ("Purpose"); and
WHEREAS, Brightline currently has access to 2,419 rentable square feet of space on the
mezzanine level in the retail element of the Building ("Premises") and would like to sublease
approximately 603 rentable square feet of the Premises to the SEOPW CRA ("Subleased Premises") for
general office and professional business purposes; and
WHEREAS, the Sublease shall have a term of ten (10) years from commencement, with the
option to renew for four (4) additional terms of one (1) year each, for an amount not to exceed Sixteen
Thousand Eight Hundred Dollars and Zero Cents ($16,800.00) ("Purpose"); and
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WHEREAS, the Board of Commissioners finds that authorizing this Resolution would further the
SEOPW CRA's redevelopment goals and objectives; and
WHEREAS, based on the recommendation and findings of the Executive Director, it is in the
SEOPW CRA's best interest for the Board of Commissioners to authorize the Executive Director to
execute a Sublease, including any and all documents necessary, for which terms may be amended by the
Executive Director, all -in forms acceptable to Counsel, for the Subleased Premises;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY 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 Board of Commissioners hereby authorizes the execution of a Sublease, in
substantially the form attached as Exhibit "A," between the SEOPW CRA and Brightline for the
Subleased Premises at the Building, for which terms may be amended by the Executive Director, in a
form acceptable to Counsel, for said Purpose, for a term of ten (10) years from commencement, with the
option to renew for four (4) additional terms of one (1) year each, for an annual amount not to exceed
Sixteen Thousand Eight Hundred and Zero Cents ($16,800.00).
Section 3. The Executive Director is authorized to negotiate and execute the Sublease,
substantially in the form attached as Exhibit "A," including any and all necessary documents to effectuate
said Sublease, all in forms acceptable to Counsel.
Section 4. The Executive Director is authorized to disperse funds, at his discretion, from the
Rentals and Leases Account No. 10050.920101.544000.0000.00000 to Brightline to further the Purpose
stated herein.
Section 5. Sections of this Resolution may be renumbered or re -lettered and corrections of
typographical errors which do not affect the intent may be authorized by the Executive Director, or the
Executive Director's designee, without need of public hearing, by filing a corrected copy of the same with
the City Clerk.
Section 6. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
e Br ounsel 9/19/2024
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