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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #18334 Date: 10/14/2025 Commission Meeting Date: 10/23/2025 Requesting Department: City Manager's Office Sponsored By: Miguel Gabela, Damian Pardo, Joe Carollo, Christine King District Impacted: Type: Resolution Subject: Sixth Lease Amendment - Bayside Purpose of Item: A RESOLUTION OF THE MIAMI CITY COMMISSION, AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A SIXTH AMENDMENT TO THE AMENDED AND RESTATED LEASE AGREEMENT (RETAIL PARCEL) ("LEASE") BETWEEN THE CITY OF MIAMI ("CITY") AND BAYSIDE MARKETPLACE, LLC, A DELAWARE LIMITED LIABILITY COMPANY, SUCCESSOR BY MERGER TO BAYSIDE CENTER LIMITED PARTNERSHIP ("DEVELOPER"), IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR THE CITY -OWNED PROPERTY LOCATED AT 401 BISCAYNE BOULEVARD, MIAMI, FLORIDA TO MODIFY CERTAIN PROVISIONS OF THE LEASE TO INCLUDE CONSTRUCTION OF INTERIM IMPROVEMENTS AND UTILITY PEDESTALS, PROVISION OF NOT LESS THAN 1000 SQUARE FEET OF LEASE SPACE TO ACCOMMODATE CITY FIREBOAT CREW SERVICES, ESTABLISH PIER RENT PAYABLE BY TENANT TO CITY IN THE AMOUNT OF $1,059,082.00 ANNUALLY, AND AUTHORIZE CONSIDERATION OF TENANT'S NEW ALTERNATIVE DEVELOPMENT PROPOSAL ("ALTERNATIVE PROPOSAL"), IN LIEU OF A TOWER; PROVIDING ANY SUCH ALTERNATIVE PROPOSAL/S SHALL BE DOCUMENTED IN AN AMENDMENT TO THE LEASE, PRESENTED FOR CITY COMMISSION APPROVAL, AND, IF REQUIRED BY APPLICABLE LAW, VOTER REFERENDUM APPROVAL; SUBJECT TO ALL APPLICABLE LAWS, RULES, AND REGULATIONS OF THE CITY OF MIAMI WITH ADDITIONAL TERMS AND CONDITIONS AS MORE PARTICULARLY SET FORTH IN THE SIXTH AMENDMENT TO THE LEASE. Budget Impact Analysis Total Fiscal Impact: N/A City Manager's Office Legislative Division Office of the City Attorney Office of Management and Budget City Manager's Office Reviewed B Arthur Noriega V Valentin J Alvarez James Brako Marie Gouin Natasha Colebrook -Williams City Manager Review Legislative Division Review ACA Review Budget Review Deputy City Manager Review Completed Completed Completed Completed Completed 10/14/2025 10:04 PM 10/14/2025 10:14 PM 10/14/2025 10:24 PM 10/14/2025 10:42 PM 10/14/2025 10:48 PM City Commission Legislative Division Office of the City Attorney Office of the Mayor Office of the City Clerk Office of the City Attorney Office of the City Clerk Maricarmen Lopez Valentin J Alvarez James Brako Mayor's Office City Clerk's Office George K. Wysong III City Clerk's Office Meeting Legislative Division Review ACA Review Signed by the Mayor Completed Completed Completed Completed Signed and Attested by the City Clerk Completed Approved Form and Correctness with Modification(s) Rendered Completed 10/23/2025 9:00 AM 10/30/2025 3:50 PM 10/30/2025 4:15 PM 10/31/2025 3:58 PM 10/31/2025 4:08 PM Completed 11/06/2025 3:52 PM City of Miami Legislation Resolution Enactment Number: R-25-0446 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 18334 Final Action Date:10/23/2025 A RESOLUTION OF THE MIAMI CITY COMMISSION, AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A SIXTH AMENDMENT TO THE AMENDED AND RESTATED LEASE AGREEMENT (RETAIL PARCEL) ("LEASE") BETWEEN THE CITY OF MIAMI ("CITY") AND BAYSIDE MARKETPLACE, LLC, A DELAWARE LIMITED LIABILITY COMPANY, SUCCESSOR BY MERGER TO BAYSIDE CENTER LIMITED PARTNERSHIP ("DEVELOPER"), IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR THE CITY -OWNED PROPERTY LOCATED AT 401 BISCAYNE BOULEVARD, MIAMI, FLORIDA TO MODIFY CERTAIN PROVISIONS OF THE LEASE TO INCLUDE CONSTRUCTION OF INTERIM IMPROVEMENTS AND UTILITY PEDESTALS, PROVISION OF NOT LESS THAN 1,000 SQUARE FEET OF LEASE SPACE TO ACCOMMODATE CITY FIREBOAT CREW SERVICES, ESTABLISH PIER RENT PAYABLE BY TENANT TO CITY IN THE AMOUNT OF $1,059,082.00 ANNUALLY, AND AUTHORIZE TENANT'S NEW ALTERNATIVE DEVELOPMENT PROPOSAL, SUBJECT TO ALL APPLICABLE LAWS, RULES, AND REGULATIONS OF THE CITY WITH ADDITIONAL TERMS AND CONDITIONS AS MORE PARTICULARLY NEGOTIATED AND SET FORTH IN THE SIXTH AMENDMENT TO THE LEASE. WHEREAS, the City of Miami ("City") and Bayside Marketplace, LLC, a Delaware Limited Liability Company, successor by merger to Bayside Center Limited Partnership ("Developer"), are the current landlord and tenant, respectively, under that certain Amended and Restated Lease Agreement dated October 15, 1985, as amended by that certain First Amendment to Amended and Restated Lease Agreement dated August 19, 1986, as further amended by that certain Second Amendment to Amended and Restated Lease Agreement dated November 24, 1987, as further amended by that certain Third Amendment to Amended and Restated Lease Agreement dated April 15, 1993, as further amended by that certain Release and Settlement Agreement dated December 30, 2008, as amended by that certain Fourth Amendment to Amended and Restated Lease Agreement dated September 24, 2014, and, as further amended by that Fifth Amendment to Amended and Restated Lease Agreement dated May 29, 2020 (collectively and together with all attachments, exhibits, or riders thereto, "Lease") for certain premises located at Bayside Marketplace in Miami, Florida, as more particularly described in the Lease ("Leased Property"); and WHEREAS, a memorandum of the Lease was recorded in Book 12684, at Page 157 and supplemented in Book 13492, at Page 3199 of the Public Records of Miami -Dade County, Florida; and WHEREAS, the Developer has terminated the Tower Sublease and wishes to provide for an alternative proposal, which acknowledges the development of the signature observation ferris wheel and incorporates an additional requirement to construct a structure with a height of at least fifty (50) feet and a minimum of five thousand (5,000) square feet of observation area ("Alternative Proposal") and WHEREAS, the City and the Developer (collectively, "Parties") desire to modify certain provisions of the Lease, as more specifically set forth in the sixth amendment to the Lease ("Sixth Amendment"); and WHEREAS, the Sixth Amendment shall include the Alternative Proposal as well as various other benefits to be negotiated by the City Manager, including, but not limited to, construction of interim improvements and utility pedestals, the allocation of one thousand (1,000) square feet of lease space for use by the City's Fire Department, and the establishment of pier rent payable by Tenant to City in the amount of $1,059,082.00 annually; and WHEREAS, the Sixth Amendment shall be presented to the City of Miami Climate Resilience Committee Advisory Board ("CRC") on the next feasible CRC Board agenda for its review in accordance with Section 2-1271 of the Code of the City of Miami, Florida, as amended; and WHEREAS, the Sixth Amendment is subject to all other applicable laws, rules, and regulations of the City of Miami including Ordinance No. 13114, the Zoning Ordinance of the City of Miami, Florida, as amended ("Miami 21 Code"); 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 is authorized' to negotiate and execute the Sixth Amendment, in a form acceptable to the City Attorney, for the Leased Property to modify certain provisions of the Lease including, but not limited to, construction of interim improvements and utility pedestals, provision of not less than one thousand (1,000) square feet of lease space to accommodate City Fireboat Crew Services, establish pier rent payable by Tenant to City in the amount of $1,059,082.00 annually, and authorize the Alternative Proposal, in lieu of a Tower. Section 3. This Resolution shall become effective immediately upon adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: 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 City Code provisions. 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.