HomeMy WebLinkAboutM-77-0820ITEM Miami, Convurtizrn C11LCI
BID .jai:CUUU7Y
Proposals for John L. Knight/Univ.of
DATE BIOS RECEIVED Soo. Jh 1977
Mr. Connal l v
BIDDER
TYPE OF SECURITY
AMOUNT
FOR
ACCOUNTING
USE
1Jarsh<tm Bros/Turner/Frank J. Room.
Atlanta, Ga.
Monday U.S.A. Inc.
1 Wes tmount Square
Mont rea1 , Canada.
ne :eived the cave described checks this
day of
19
FOR ACCOUNTING DI\ ISION
rs,
CITY OF MIAMI/UNIVERIIFY-ntyEll3MI
DAMES L. KNIGHT INTERNATIONAL CENTER
ry`f �� Ij
REQUEST FOR PROPOSAL
City of
INTRODUCTION
The City of Miami, Florida is engaged in the development of a
major Convention Center to be located on a six acre city owned
downtown site on the Miami River. The total development cost of
the City of Miami's Convention Center exclusive of land costs is
$10.5 million.
In addition, the City of Miami has signed an Agreement with the
University of Miami to develop on this site an international
continuing education center. The additional development cost
for this Conference Center is $3.25 million.
The City of Miami's plarscall for further development of this
facility as a Mixed Use Development by participation of the private
sector in the development and operation of the commercial facil-
ities essential for the successful operation of the Convention
and Conference Center by means of a long term lease of air rights
of parts of the site to a prospe-:tive developer.
Design Development Drawings, Economic Feasibility Study, Market
Analysis, and the City's Agreement with the University of Miami
have been furnished to all developers who responded.
Based upon the background material sent by developers in response
to the Request For Proposals, the City's selection committee has
pte-qualified five prospective developers who have the experience,
expertise and financial resources available to them to join with
the City in completing the Development of this project.
Invitation
The City of Miami invites selected Developers to .submit their
proposals for the development of the City of Miami/University of
Miami James L. Knight International Center project. Proposals
should be prepared along the guidelines indicated in this Invita-
tion. The City will receive proposals up to 2:00 p.m. on September
16, 1977.
Attachments
In addition to the documents previously sent to all respondents to
the Request For Proposal, the following documents are part of this
Invitation:
1. Report entitled "The James L. Knight International Center
Impact on the Downtown Environment", June 1977, prepared by
Post, Buckley, Schuh h Jernigan, Inc.
2. Report, attached to above report as Appendix A, entitled
"Economic Impact of James L. Knight International Center,
Preliminary Discussions" dated 22 June 1977, prepared by
Gladstone Associates.
3. One set of contract drawings, marked "Not For Construction"
29 July 1977. A complete index of the drawings will be
sent to each Developer, under separate cover. The working
drawings are at the 75% point of completion.
PsT*!"!1e111iMI m
e set of the outline specifications, marked "Not For
Construction", 29 July, 1977. A complete index of the
specifications together with the specifications, will be
sent to the Developer, under separate cover.
5. Preliminary Construction Cost Estimate, dated Nov. 18, 1976,
prepared by W. Cole Early. An updated Preliminary Construc-
tion Cost Estimate, dated 15 August 1977, will be sent to
each Developer under separate cover. The updated Estimate
will be prepared from the set of contract drawings and
specifications mentioned above.
Project Status
Funding.. The City has funds for this project consisting of proceeds
from a $4.5 million G.O. Bond issued in 1966 and $5.3 million in
proceed from the sale of land on Virginia Key to the Miami -Dade
Water and Sewer Authority. The City has applied for a Local Public
Works Grant from the Economic Development Administration to complete
this project. The University of Miami has been given a grant of
$3.25 million by the James L. Knight foundation for their conference
center. The Construction cost of the conference center is $2.5
million.
Architect/Engineer. The architect/engineer is 75% with the
Construction Document Phase of the Convention and Conference Center
portions of the project. It has been necessary for the A/E to
outline the public areas on the ground and main floors, but the
definition and design of these spaces is left to the developer's
discretion.
Land Acquisition. The City has purchased all the land required for
this project for $4.793 million. The appraised value of this
property i, in excess of $B million.
RESPONSIBILITIES
The Developer's Responsibilities
The Developer is to provide a financial plan detailing the prcposed
means of financing the development of the private sector of this
project.
The Developer is to provide the consulting and operating services
of an established hotel management organization.
The Developer is to provide the consulting and operating services
of an established food services organization.
The Developer is to provide the consulting and leasing services
of an established retail packaging organization.
The Developer is to provide the programming, planning and design
leadership for the hotel, retail and restaurant facilities. In
order to simplify coordination, minimize cost and eliminate
ambiguity, it is recommended that the Developer retain the City's
architect/engineer, Ferendino, Grafton, Spillis and Candela to do
the construction document phase of their work.
The Developer is to provide construction management services for
the total project.
The Developer is to manage the hotel, retail and restaurant
facilities directly or by sub -lease subject of approval by the
City.
The Developer is to provide food and beverage service to the
City and University meeting rooms and hall as required.
The City* s Responsibilities
The City will provide project development services to monitor
progress during the development and construction phase.
The City will make progress payments to the Developer during the
construction phase for the work completed on the City and University
spaces.
The City will provide programming services to promote convention
and conference sales for the use of this facility.
The City will provide operational staff to clean, maintain air
condition and secure the convention and conference centers and
the public areas of the first four levels of the facility.
PROPOSAL GUIDELINES
General
The City desires that each Developer submit sufficient inforrna=
tion in his proposal that will describe the Developer's qualifica,,
tions to undertake the development of this project and that will
describe a comprehensive plan for the development.
The proposal should follow the format outlined below:
9ualiFications
The Developer is requested to provide the City with information
concerning his background experience as a developer. This infor-
mation should consist of a factual account of the Developer's
history, including the following details:
1. Ownership. In this section, the Developer will advise the
City of the legal description of his firm -sole proprie-
torship, joint venture, corporation or other business
entity; the firm's legal address and, in the case of a
corporation, the State under which it is chartered; a
list of principals, their addresses and, in the case of
partnerships, or joint ventures, their individual share of
ownership.
2. History. In this section, the Developer will provide the
City information about his history -when the firm was
formulated, what is the size of the organization, what
projects have been undertaken and the relative merits of
each of project undertaken in the past five years.
Financial Worth. In this section, the Developer will
submit financial statements covering the past five years
and will list lending and banking institutions which he
deals with and which could provide the City with informa-
tion about his financial stability.
4. Other Information. In this section, the Developer will
•have the opportunity of advising the City of his special
qualifications and experience that should be considered
in evaluating his proposal.
Development Plan
The Developer will be required to furnish the City with the fol-
lowing details concerning his approach to the development of his
project.
1. Financing. In this section, the Developer will outline
his plan for financing the project, and the anticipated
source of the financing, and the time required to package
a firm financial commitment.
2. Organization. In this section, the Developer will describe
his proposed organization which will manage this project.
The plan should include the organizational structure and
resumes of key personnel.
3 Design and Construction. In this section, the Developer
will describe his approach to the design and construction
of the project. Of importance to the City is the Developer's
proposed methods he will use to control the aesthetic and
functional quality of the design and the cost of construction.
The Developer will also provide the City with a time table
of key design and construction target dates.
4i Operations. In this section the Developer will describe
his proposed methods of operating the completed facilities.
Of importance to the City is his overall business approach
to the operations and maintenance of the proposed complex.
The Developer should describe his proposed organizational
structure that will conduct the affairs of the facilities,
touching upon training programs and objectives, maintenance
and repair programs, advertising and promotional programs,
bookeeping methods and other aspects that the City ought to
know in evaluating the proposal.
5. Management. In this section the Developer will delineate
the management responsibilities, identify the principals or
outside sources directly responsible for the programming,
marketing, and management of the hotel, retail and restaurant
sectors of the development.
6. Phasing.
In this section the Developer should express his interest
in developing Phase B, including his time table for the
development and any conditions that the City ought to consider
in evaluating his Proposal.
Contract
The City looks to the Developer to prepare a contract form whereby
the City and the Developer may enter into an instrumentality for
undertaking this project.
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Feasibility
The City has investigated the feasibility of the project and
found it an attractive one in many respects. In investigating
the economic feasibility of the project, the City's consultants
have prepared Pro -Formal for both a 300-room Hotel and a 500-room
Hotel, plus related retail sales. The Developer is requested to
examine the Pro-Formas and to comment, amend or revise to reflect
the economic considerations of the developer.
hose 1.
7-15-77
SALES
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EL0P1oa
Peak'/ c,on_Peak2J Total
1. i,�•;I;i,r,l room Days
27,375 F,2,125 109,500
2. Annu31 0ccupieu Oajs i 23,270 55,025 73,295
3. Cor,pc _ i L. or of Trade4/
Tourist
4,654 5,503 i0,157
Business
4.654 11,005 15,659
Convention
13,962 38,517 52,479
5/
4. Room Sales-'
Tourist $255,970 $?31,125 $487,095
Eusiness
S255,970 $ 462, 210 $718,1E0
Convention 1,C)28,2lC$1,'$1.976,385
Total
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5. Avera,e Room rate§! $49.C. S37.10 $40.6
Developer's Estimate
iion-
Peak 2eak _ Total
1, A :st;;Ir ,d to t'e a c .r.. -r t: read.
to ►- eriod.
?/ :1�s:, .c-d b= *nth ' - w;th r, ,- eak accli,,.rICY set r,t 67%. 1.0' .5G for peak s?asun,+nc
,?: i t-. r r -:nil' si . 71 1 ".r the CaC'.pusitiorl w S set at 2G°I,
�! ,•,, +° ,I j ; �1,. c ?i'� , C t C CG J for �1p '' sGc�4uri, r:T'�l yy1,;+rs
;,� .2.- - _ - c.����,�:���i:, .-�.�„ sale:. �e
rates ,,per•.., _55, ,.
t,•, ann,;a
,c,_ n ;. .. es.
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A. irt7.1 Sics
D. Cperatirg Stltty.nt
t‘S
Sal 1•••• •••••••••-
• • • • -•• -•••••• • •
a. Rocins
b. 1--.1ol.1
r rarie
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2. De
a.
b. Food
c. Beverau;
e. Other
c. Total
C. Gross Operating inco7'ie 1/
Dr:•arV.,-,rt.,a1 sale; !"71,.;,,e;1‘4itorrir
77:
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30( •UNI7 •
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$3,181,660
$3,181,660
1)1,749,905
$ 954,500
$ 254,535
3-0-40,60d
$ 604,515
$1,368,115
$ 668,155
$ 222,715
• --$.2,863,500
$3,277,100
Developer Estim,!..e
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.;distributed Er,,nses
A67ninistrdtivc
a. Pa roll
c. :r,c;:r-ance
d. f',;.
j'
e. Other .1
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1 • .i : �� i. v 1.4
7. ';r•:crtisirj Pro, -ion
3. utilities
4. F.-airs ;12 in teranee
5. St.btotal
7. Total
3J3 UNI1 dJTEL
17,
.
;o
11%
21 %-
7;o
23Z
44%
1/ J•-rclildes personal and property real estate tars eAimated to b 9" of G. .I.
Source: Cladstone Associates.
Developer Estirrate
$ 196,625
$ 32,770
$32,770
$ 64,540
$ 360,480
637,.185
$ 196,625
$ 229,400
$ 196,625
$ 131,l00
$5- 153,75)
,440,935
HI fl
PIN
7 1 - 7
Total Sales
Less: Cepar t�.cnt Ex,c;,di ture
Undis rid ;t^d Experdi turs
Total EYp2rv;iturr.;
Source: Gladstone
Z0) UNi1 •OTEL
Conventional "Downstairs Deleted"
$6,140,600 $3,436,195
$2,863,500
$1,440,935_
$4,304,435
$1,836,165
• 57.7/0
29.9%
$827,230
$1,147,9J5_
$1,975,185
$1,461,010
45 _ 9;;
42.5%
Developer Estimate
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ADJUS i E:, D4 LE IU i. Or '101J4 ' i AIRS' USE
300_ RiooPi _Hotel
A. Debt Calculation Conventional "Downstairs -Deleted" Deve.1.2pr Estimate
1. Operating Income $1,836,165 $1,461,010
2. Capitalization Rate
12% 12'`'
3. Capitalized (i.e., Economic) Value $15,301,375 $12,175,100
4. Loan -To -Value Ratio
75 75
$11,476,000 $9,131,325
5. 1}} 'll�r�tg�%';jF GJ l�ltnabl'�
6. Debt Service Construe
11.0 11.0
7. Annual Debt Service $1,262,365 $1,004,450
B. Equity_ & _Capital_ Cost 3Jdget Calculation
1. Operating Inco.,1e
2 Less: Debt Service
3. Net ,..;l: 7:c. :3efcre Ta>:es, Gavr. )
4< Net Cash Flow To E,;uity
5, Equity Yield (Cash -On -Cash Return)
6. Capitalized Value of Equity
7. Plus' Mortgage
8. Tuca ;. i 1 Ca;,:1 i Cos _ c'.g,t
- Per 7037,
$1,836,165
($1,2C2,3365)
$ J73,8G0
$ 573,800
15%
$3,825,300
$11,476.000
$15 . )0 P , n r,
$ 5 i ,OOri
$1,461,010_
($1,004,450)
$ 45;3,560
$ 456,560
15%
$3,043,735
$9,131 ,32,
$12,11c.,06C1
$ 40,600
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SELECTION PROCESS
A selection committee or City staff, with some representation
from the local business community will review all proposals,
evaluate them and make a recommendation to the City Commission
in order of preference.
With approval of the City Commission, the selected developer
will be given a Letter of Intent and instruction to secure a
firm financial committment within 90 days.
Simultaneously, negotiations will proceed with the prospective
•
developer in order that an agreement can be reached between the
City and the Developer in the 90 day period.
During the 90 day period the Developer is to provide design
input and criteria to the City's Architect/engineer for the
hotel, retail and restaurant spaces.
In the event that a firm financing plan cannot be committed
or a reasonable agreement cannot be negotiated within 90 days,
the City will then open negotiations with the second prefered
developer.
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, riz _ hootiLlm—T,..-0-itza,,,v,
worsham brothers & co.
turner development co.
codevelopers
..401‘e-t1
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WORSHAM BROTHERS
TURNER
FRANK J.ROONEY
MR. JAMESJ. CONNOLLY
PROJECT DIRECTOR, CONVENTION CENTER
DEAR MR. CONNOLLY:
,1111 1,11 II
WE ARE PLEASED TO PRESENT THE FOLLOWING COMPREHENSIVE PROPOSAL FOR THE DEVELOP-
MENT OF THE J. L. KNIGHT INTERNATIONAL CENTER AND A FIRST CLASS 500-ROOM HOTEL
WITH ATTENDANT SUPPORT FACILITIES, INCLUDING A UNIQUE SHOPPING COMPLEX, ALL OF
WHICH WILL ADD TREMENDOUSLY TO THE VIBRANT GROWTH OF THE CITY OF MIAMI.
SINCERELY YOURS,
CO -DEVELOPERS
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OWNERSHIP
THE OWNERSHIP OF THE PRIVATELY DEVELOPED FACILITIES PURSUANT TO THE LEASEHOLD INTEREST
CREATED WITH THE CITY WILL REST IN A LIMITED PARTNERSHIP TO BE KNOWN AS THE MIAMI
ASSOCIATES, LTD, , A FLORIDA LIMITED PARTNERSHIP,
THE CO -DEVELOPERS PROPOSED FOR THE DEVELOPMENT ACTIVITIES OF THIS PARTNERSHIP WILL BE
WORSHAM BROTHERS CO. , INC. AND TURNER DEVELOPMENT CO. LIMITED PARTNERS WILL BE AD-
MITTED LATER AS NEEDED AND DESIRED, IT IS CONTEMPLATED THAT UPON COMPLETION CF T'IE
FACILITY A SPECIAL CORPORATE GENERAL PARTNER WILL BE SUBSTITUTED FOR THE INITIAL GENERAL
PARTNERS; SUCH GENERAL PARTNER SHALL BE CAPITALIZED SUFFICIENTLY TO CARRY THE RESPONS-
IBILITY OF MAINTAINING THE PARTNERS' INTERESTS AND IN ACCORDANCE WITH APPLICABLE STATE,
FEDERAL AND TAX LAW REQUIREMENTS,
THE DEVELOPMENT CONSORTIUM
THE DEVELOPMENT CONSORTIUM SHALL BE RESPONSIBLE FOR EXECUTING THE OBJECTIVES OF THE
PARTNERSHIP AND THE CONTRACTUAL AGREEMENTS WITH THE CITY OF MIAMI. THE CONSORTIUM
WILL ACT AS A TEAM WORKING TOGETHER UNDER THE DIRECTION OF THE PROPOSED CO -DEVELOPER,
THE MEMBERS OF THE CONSORTIUM AND THEIR RESPONSIBILITIES ARE AS FOLLOWS:
COMPANY
PRIMARY INDIVIDUAL FUNCTION
WORSHAM BROTHERS CO. , INC. EARL S. WORSHAM DEVELOPMENT
TURNER DEVELOPMENT COMPANY JAMES GRIFFIS DEVELOPMENT
HALCYON, LTD. MICHAEL BUCKLEY DEVELOPMENT OF
SPECIALTY RETAIL
FRANK. ROONEY GENERAL CONTRACTORS BILL F. SOUTHERN CONSTRUCTION
TURNER CONSTRUCTION COMPANY LES SCHUTE CONSTRUCTION
FERENDINO, GRAFTON, SPILLIS, CANDELA HILARIO CANDELA ARCHITECTURE &
ENGINEERING
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HOTEL , FOOD & BEVERAGE MANAGEMENT
TO BE SELECTED, CONVERSATIONS WITH A SERIES OF FIRMS HAVE BEEN UNDERTAKEN WITH
SERIOUS INTEREST EXPRESSED 6Y SEVERAL, POTENTIAL CANDIDATES ARE AS FOLLOWS:
HYATT HOTELS CORPORATION
HILTON HOTELS CORPORATION
RADISSON HOTEL COMPANY
MELIA HOTELS OF SPAIN
OPPENHEIMER HOTEL CORPORATION
SOMMER HOTELS, BERMUDA
FINAL SELECTION WILL BE BASED UPON CONSULTATION WITH THE CITY, UNIVERSITY AND
THE FINANCING INSTITUTIONS TO DETERMINE WHICH FIRM CAN BEST SERVE THE NEEDS AND
OBJECTIVES OF THE TOTAL COMPLEX WITHIN THE FINANCIAL AND OPERATIONAL PARAMETERS
ESTABLISHED FOR THE DEVELOPMENT•
VERY CAREFUL CONSIDERATION AMONG THE PARTICIPANTS OF THE METHOD OF OPERATION,
PROMOTION, BACKING AND USE OF THE FACILITIES MUST BE ACCOMPLISHED, WE ENVISION
A CONTRACTUAL RELATIONSHIP IN THIS REGARD CLEARLY DEFINING THE AUTHORITY, DUTIES
AND RESPONSIBILITIES OF EACH PARTY,
FINANCIAL TEAM:
THE FIRM, BROOKS, HARVEY b: CO. , INC+ , NEW YORK, HAVE BEEN ENGAGED TO COORDINATE
THE VARIED ASPECTS OF THE DEVELOPMENT, THEIR SIGNIFICANT ACHIEVEMENTS IN PRODUC-
ING AND COORDINATING THE COMPLEX FINANCIAL ARRANGEMENTS REQUIRED FOR SIMILAR
MIXED USE DEVELOPMENTS SHOULD ASSURE SUCCESS IN THIS VITAL AND IMPORTANT ASPECT,
HISTORY
THE HISTORY AND SOME OF THE MAJOR ACCOMPLISHMENTS OF THE DEVELOPMENT CONSORTIUM
ARE ATTACHED HEREIN AS EXHIBIT B. ALSO ATTACHED ARE FINANCIAL QUALIFICATIONS OF
THOSE RESPONSIBLE FOR FINANCIAL ASPECTS OF THE DEVELOPMENT,
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PROGRAM AND FINANCIAL PLAN
PROGRAM:
1. IN PHASE A, WE PROPOSE TO BUILD A HOTEL TOWER OF 500 FIRST CLASS LUXURY
ROOMS INCLUDING REQUISITE HOSPITALITY SUITES; APPROXIMATELY 30, 000 SQUARE
FEET OF SPECIALTY RETAIL; RESTAURANTS, BARS, AND OTHER FOOD FACILITIES AS
APPROPRIATE; AND APPROXIMATELY 10, 500 SQUARE FEET OF MEETING SPACE IN
ADDITION TO THAT CURRENTLY PROPOSED BY THE CITY AND UNIVERSITY, OTHER
FEATURES WILL BE INCORPORATED INTO THE COMPLEX AND PAID FOR BY THE "PRIVATE
SECTOR", INCLUDING NORMAL "BACK OF THE HOuSE" REQUIREMENTS TO ENABLE THE
COMPLEX TO FUNCTION PROPERLY. INCLUDED ARE SUCH ITEMS AS KITCHENS, LAUNDRY,
STORAGE, FURNISHINGS, EQUIPMENT, FIXTURES, OPENING INVENTORIES, ETC.
SEVERAL ADDITIONAL FEATURES AND CONCEPTS ARE SHOWN ON THE SCHEMATIC DRAW-
INGS INCORPORATED HEREIN.
2. WE PROPOSE TO CONSTRUCT FOR THE CITY THE "BASE FACILITY" AS DELINEATED IN
PLANS AND OUTLINE SPECIFICATIONS PREVIOUSLY PROVIDED, AND AS MAY BE MOD-
IFIED BY THE CITY AND UNIVERSITY IN THEIR DISCRETION TO INTERFACE WITH THE
TOTAL DEVELOPMENT CONCEPT AND TO BE WITHIN BUDGETS MUTUALLY AGREED UPON.
3. WE PROPOSE TO PROVIDE PRE -CONSTRUCTION CONSULTATION SERVICES TO THE CITY
TO INSURE THAT THE ENTIRE PHASE A COMPLEX FUNCTIONS IN ACCORDANCE WITH THE
GOALS AND OBJECTIVES OF THE CITY, THE UNIVERSITY AND THE ELEMENTS PROVIDED
BY THE DEVELOPMENT coNsORTIUm. IN THIS REGARD, WE WILL MAKE RECOMMEND-
ATIONS TO INSURE THAT THE "PUBLIC PORTION" OF THE DEVELOPMENT CAN BE BUILT
WITHIN THE FUNDS AVAILABLE TO THE CITY. FEES FOR THIS SERVICE WILL BE
REASONABLE AND NEGOTIATED AS A PART OF OUR CONTRACTUAL_ RELATIONSHIP,
IF DESIRED BY THE CITY, WE WILL CAUSE PERFORMANCE AND PAYMENT BONDS TO Be
ISSUED GUARANTEEING THE COMPLETION OF THE FACILITY FOR A FIXED SUM tr4cLuDING
ALL FEEc.. PRIOR TO THE BEGINNING OF CONSTRICTION.
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4, AS PART OF THE FINANCIAL PLAN, WE WILL "INVEST•CONTRIBUTE" THE SUM OF
$5, 000. UUU TO THE COMPLETION OF THE BASE FACILITY FROM THE PROCEEDS OF
THE FUNDS AVAILABLE TO US, THESE FUNDS WHEN COMBINED WITH THE FUNDS
AVAILABLE TO THE CITY MUST BE SUFFICIENT TO COMPLETE THE BASE STRUCTURE
IN ACCORDANCE WITH THE OBJECTIVES OF THE UNIVERSITY AND CITY; AND PRODUCE
A HIGH QUALITY. ESTHETICALLY EXCITING, INTERNATIONAL CONVENTION AND CONFER-
ENCE COMPLEX, THE OBJECTIVE OF THE SERVICES CONTEMPLATED UNDER "3"
ABOVE IS TO ACCOMPLISH THIS PURPOSE,
5, AS PART OF THE FINANCIAL PLAN, WE PROPOSE TO MAKE AVAILABLE THE SUM OF
$250.000 (ESTIMATED TO BE DU`„ OF THE TOTAL REQUIRED) FOR THE PRE -PROMOTION,
PRE -OPENING, AND PRE -SELLING OF THE CONVENTION -CONFERENCE -HOTEL COMPLEX,
6, TO ADD STABILITY TO CONTINUED OPERATIONS OF THE PRIVATE SECTOR DEVELOPMENT..
WE, AS PART OF OUR FINANCIAL PLAN. PROPOSE TO MAKE AVAILABLE IN APPROPRIATE
FORM (CERTIFICATE OF DEPOSIT, LETTER OF CREDIT OR OTHER) THE SUM OF $500,000
TO COVER ANY NEGATIVE CASH FLOW FROM OPERATIONS OF THE "PRIVATE SECTOR"
PORTION OF THE COMPLEX (THE HOTEL, RESTAURANTS, BARS, RETAIL. ETC.). THIS
SUM WILL EITHER BE USED, OR REMAIN AVAILABLE UNTIL THE "PRIVATE SECTOR IN-
VESTMENT'. HAS POSITIVE CASH FLOW FOR A CONTINUOUS SIX MONTH PERIOD,
IN ADDITION TO THE ABOVE, SUFFICIENT WORKING CAPITAL WILL BE PROVIDED BY THE
PARTNERSHIP TO PROPERLY OPERATE THE FACILITIES UNDER THEIR CONTROL,
OF COURSE, ANY NEGATIVE CASH FLOW FROM OPERATIONS OF THE "PUBLIC SECTOR"
(CONVENTION AND UNIVERSITY) FACILITIES MUST BE PROVIDED AND PAID FOR BY
SUCH "PUBLIC SECTOR".
4
111011I,IIII I111,II1II11ildio. I o
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4
7. IN RECOGNITION OF THE SIGNIFICANT INVESTMENT BY
THE CITY AND THE UNIVERSITY, AND IN CONSIDERA-
TION OF THE PROPOSED EXECUTION OF A LONG TERM
(MINI MUM /5 YEAR) MORTGAGE LEASE AGREEMENT
WITH THE CITY, WE PROPOSE TO PAY A BASE RENT
AND A PERFORMANCE RENT TO THE CITY AS FOLLOWS:
BASE RENT
(BEGINNING UPON COMPLETION OF PHA A
AND OPENING OF THE HOTEL)
YEAR
150,000
150,000
175,000
175,000
200,000
200,000
225,000
225,000
250,000
250,000
5
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.16
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Y
i
4 E
PERFORMANCE RENT
(IN ADDITION TO BASE RENT)
SALES LEVEL ROOMS ONLY)
NET OF COMMISSIONS
0 TO 5,000,00
5,000,000 TO
5,500,000 TO
6,000.000 TO
6,500,000 TO
7,000,000 TO
7,500,000 TO
8,000,000 TO
8,500,000 TO
9,000,000 TO
9,500,000 TO
5,500,000
6,000,000
6,500,000
7.000,000
7,500,000
8.000,000
8.500,000
9,000,000
9. 500 , 000
10,000,000
10, 000, 000 & ABOVE
/0
-0-
2.0
2.3
2.6
2.9
3.2
3.5
3.8
4.1
4.4
4.7
5.0
6
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fl
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PERFORMANCE RENT SHALL BE SUBORDINATE TO DEBT SERVICE AND RETURN TO EQUITY
IN THE AGGREGATE AMOUNT OF $2, 450, 000 PER ANNUM, PAYABLE OUT OF AVAILABLE
CASH FLOW. (CASH FLOW TO BE DEFINED USING STANDARDS ESTABLISHED BY THE
BOARD OF CERTIFIED PUBLIC ACCOUNTANTS CONSISTENT WITH INDUSTRY STANDARDS.)
TO THE EXTENT THAT SUCH PERFORMANCE RENT IS NOT AVAILABLE FROM CASH FLOW,
IT SHALL ACCRUE WITHOUT INTER EST AND BE PAYABLE OUT OF FIRST AVAILABLE CASH
FLOW AFTER DEBT SERVICE AND RETURN TO EQUITY HAS BEEN PAID FOR THE CURRENT
YEAR. A SIMILAR PROVISION SHALL BE ESTABLISHED FOR THE DEBT SERVICE AND
RETURN TO EQUITY, AMOUNT AFOR ESTATED . TO THE EXTENT NOT AVAILABLE FROM
CASH FLOW. SUCH "ACCRUAL ACCOUNT" IS TO BE ADDED TO THE UNPAID PERFORMANCE
RENT "ACCRUAL ACCOUNT". DISTRIBUTIONS SHALL BE MADE PRO RATA AS EACH
ACCOUNT RELATES TO THE OTHER WHEN CASH FLOW (AS DEFINED) IS AVAILABLE.
IN ORDER THAT THERE NOT BE A DOUBLE PAYMENT TO THE CITY (RENT AND TAXES),
APPROPRIATE AGREEMENTS SHALL BE NEGOTIATED THAT PROVIDE FOR A CREDIT OF
THE CITY PORTION OF REAL ESTATE TAX PAID BY THE "PRIVATE SECTOR" TO APPLY
TO BASE AND PERFORMANCE RENT PAYABLE.
7
1
4 I
FINANCIAL PLAN
THE FINANCIAL CHARACTERISTICS OF THE "PRIVATE SECTOR" DEVELOPMENT MAY
EMERGE IN SEVERAL DIFFERENT COMBINATIONS. AS PREVIOUSLY STATED, THE
FIRM OF BROOKS, HARVEY & CO. , INC., OF NEW yORK2 WILL BE COORDINATING
THESE VARIOUS ASPECTS, IN ORDER TO PROVIDE A COMPREHENSIVE AND VIABLE
FINANCING PLAN.
ON A PRELIMINARY BASIS, WE ENVISION THE TOTAL COST OF THE "PRIVATE
SECTOR" INVESTMENT TO BE BETWEEN $22, 000, 000 AND $23, 000,000 pER THE
TABLE BELOW. THIS INVESTMENT, WHEN COUPLED WITH THE CITY AND UNIVER-
SITY FUNDS, SHOULD PRODUCE A COMPLETE PHASE A DEVELOPMENT IN CONTEM-
PLATION OF ACHIEVEMENT OF THE VARIOUS OBJECTIVES OF THE PARTICIPANTS.
[IIIlllil
ESTIMATED DEVELOPMENT COSTS
MIAMI INTERNATIONAL CENTER HOTEL
500 ROOMS
CONTRIBUTION TO BASE CENTER
RETAIL TENANT FINISH & REQUIRED ENCLOSURES
500 ROOM TOWER — 2811,1101) SF $31 . 25
FF&E INCLUDING KITCHENS, RESTAURANTS, BARS, ETC. (500 (t l $7, 000)
A&E TOWER (4%?)
FF&E DESIGN FEES 1
TECHNICHAL ASSISTANCE FEE (MANAGEMENT FIRM)
DEVELOPERS OVERHEAD (24 MOS. 4150
a..
•
FINANCING:
CONSTRUCTION FEE 1/2%U
PERMANENT FEE
GAP FEE
1`/
u
3/u
INTERIM INTEREST
PRE —OPENING EXPENSE (SPLIT WITH CITY)
OPERATING CAPITAL
INITIAL OPERATING LOSS RESERVE
SUB —TOTAL
CONTINGENCY & DEVELOPERS FEE (2 & 3%)+
TOTAL DEVELOPMENT COST $22, 800, 000
$5,000,000
500,000
8,750,000
3,500,000
350,000
100,000
100,000
360,000
105,000
210,000
90,000
1,700,000
250,000
250,000
500,000
$21,765,000
1,035.000
9
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BELOW, PLEASE FIND A PRELIMINARY TEN YEAR PRO FORMA OF PRIVATE SECTOR
OPERATING RESULTS BEFORE DEBT SERVICE, RETURN TO EQUITY, AND PERFORM-
ANCE RENT TO THE CITY, BASED UPON THIS PRO FORMA, WE ARE OPTIMISTIC
AS -TO THE SUCCESS OF THE FACILITY.
500-MUUM MIAMI 1MIINhAIliihnt CLNILM MUIU.
PMU-I UMMA
UN ILAN PMUJLLIIUNS
UttuyauLy au IUL /,1 121 721 721 723 721 721
Rate: 141. UU - IsLv Isle61 Per leer
IlblNV1 1
Ins 45 $4.440 $0,0S3
loud 30 2.9-,1
Beverage 20 1.915 -----0.1/0 0.1.
Telephone 2.5.0 308 310
Other -...f1S
IUIR1II Villa100 9,97812,33g 13.961
114,259 315,116 $16.022 916,83 118.002 119.082 120.22/
DLPAMIMLNIAL LIPLNSLS 26 1.I.I :S I,tud 24 I,uf Licalats All (4yol4ea 6% Per 'ear Ruuv 75 3,/41 13 4,',W /I 4,/16
IelaVhm
feud 1 oe erer4ye 140 Pm 140 _ 411 40 4)0
TOTAL IILPARINLMIAI ttYLNSF 52T-S,258 51-T- 6,323- 49.8 6.699 7,101 7.521 1,9)9 8,457 8,965 9,503 10.0/3
4MIL'S UPtMAIII.. 1N4Jlt 4.)t0 6,015 6,752 7,158 7.508 8,043 8,626 9.037 9,679 10,154
DLII4.1IU41 FIe1M 1410M1
AJclnlstratlre 1 6ener8l 6.5 6'11 0 U /40
64,ertlsln9 6 Salaa 5.0 Suu 5 0 017
Utilities 4.5 4AU 4 S Ss5
Repeirs 1 Malnteuaf,e 3.0 1,0 3.0 1/0
base M4n49arent ter 3.0 300 1.0 3/0
UL
10133 0ELIKI1UNS FROM INLUME 23.5 2.363 22.9 _ -2.824 23.0 3_,094 3,280-3.476---3,6B5 3.9D5 y i
-7 141 4.3e
Reserve for Meyleteseul (325/101 l b _ l°1_ 14
D31133 OPLRA11N6 PKIIFIT 23.6 2.357 25.9 3.19l 2/.2 3,658 3.818 4.11i 4,358 4.620 4.696 6.190 1•602
UIni4 L014061. o[y WO ten)
Neal Esuu laves/bass Kant L1 M1 6O -992
lusuru.te 485 560---64A-700--742 766 833 803 930
lUOp WHIR Income
1,8/2 2.631 2,998 3,178 3.010 3.5/2 3.187 4,013 4,254 4.510
(LESS: In Intone
LESS: Fes (259 Mir 2p. mm) 0- tl3 I/S Liu L68 318 311 4:8 488 553
Fee (ZS1 (Mir 2.3NM) 316
01
wb-IOIAt Itl.B 1.tl12 YU.7 2,54tl 2U.9 '1,tl23 1,958 3,IU2 3,254 3.416 3,5ns 3,766 3.9s7
NET MLNIAC 1MC01t0 (sores) 210 210 210 223 236 250 266 262 298
(30,0013 9 7.00 7)
NET INCOME AVAILABLE FOR DEBT SLRVICE 12.682 12,758 33.033 13.181 $3,338 $3.604 13.601 13.687 64,064 14,273
95.552
10
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BASED UPON THE ABOVE PRO FORMA, RENTS TO THE CITY SHOULD APPROXIMATE
THE FOLLOWING:
BASE RENT
PERFORMANCE
RENT
TOTAL
YEAR 1 $150,000 $ -0- $150,000
2 150,000 127,700 277,700
3 175,000 157,400 332,400
4 175,000 165,300 340,300
5 200,000 193,600 393,600
6 200,000 224,200 424,200
7 225,000 235,400 460,400
8 225,000 308,300 495,400
9 250,000 308,300 558,300
10 250,000 349,200 599,200
TOTAL OVER
10 YEAR
PERIOD
AVERAGE
PER YEAR
$2,000,000
$200,000
$2,031,500 $4,031,500
$203, 150 $403, 150
A BLEND OF FIRST MORTGAGE, SECOND MORTGAGE AND EQUITY FINANCING IS TO BE
ACCOMPLISHED THROUGH THE ASSISTANCE OF OUR FINANCIAL ADVISORS AND CON—
SORTIUM MEMBERS,
DUE TO THE COMPLEXITY OF THIS MIXED USE DEVELOPMENT, AND DUE TO THE FACT
THAT THERE ARE CERTAIN RELATIONSHIPS, CONTRACTS AND DESIGN REQUIREMENTS
TO PROPERLY INTERFACE ALL PARTIES, THE TIME WITHIN WHICH TO ACCOMPLISH
THE FINANCING MUST BE REALISTICALLY EVALUATED.
11
II IIlII n��urill`I
ISIMAgiatiik
,li i 111111111111M1111rrrr
A COMPUTERIZED NETWORK SCHEDULE WILL BE PRODUCED BY THE DEVELOPMENT
TEAM FOR DISCUSSION AT THE VERBAL AND VISUAL PORTION OF THE PRESENTATION,
IN THE EVENT WE ARE THE SELECTED DEVELOPER, THIS NETWORK SCHEDULE,
AS MAY BE MODIFIED TO ACCOMPLISH THE COALS AND OBJECTIVES OF THE VARIOUS
PARTIES, SHOULD BECOME A PART OF OUR CONTRACTUAL AGREEMENT.
ARCHITECTURAL CONCEPT
THE CONCEPT OF THE PROPOSED HOTEL TOWER AS AN INTEGRAL PART OF THE
JAMES L. KNIGHT/CITY OF MIAMI INTERNATIONAL CENTER IS TO PROVIDE ADDED
SUPPORT FACILITIES INCLUDING HOTEL ROOMS, MEETING ROOMS, FOOD SERVICE,
AND RETAIL SHOPS. THE INTENT 1S TO EXTEND THE SCOPE OF THE CONVENTION
FACILITY INTO A TOTAL URBAN COMPLEX TO MEET THE NEEDS OF THE CITY OF
MIAMI, THE UNIVERSITY OF MIAMI, AND THE VISITING PUBLIC.
THE PROPOSED HOTEL TOWER, RISING 13 STORIES ABOVE THE CONVENTION CENTER
WILL CAPTURE FOR THE HOTEL GUEST A DRAMATIC VIEW OF BISCAYNE BAY WITH
EACH ROOM HAVING A BALCONY VIEW OF THE CITY, THE RIVER AND THE BAY. EACH
ROOM SPACIOUSLY DESIGNED WITH "LIVING ROOM" (APPROXIMATELY 14' x 19')
TYPE ACCOMMODATIONS AND EXTRA LARGE BATHS, AS WELL AS DIGNITARY AND
JUNIOR SUITES, WILL PROVIDE THE CONVENTION GUEST WITH THE HIGHEST QUALITY
IN AMMENITIES, HOSPITALITY SUITES, NINE ADDITIONAL MEETING ROOMS, AND
MULTI -PURPOSE ROOMS WILL ACCOMMODATE APPROXIMATELY 900 PEOPLE, THE
ROOF TERRACE POOL, HEALTH CLUB, AND SPA WILL PROVIDE RECREATIONAL FACILITIES,
PLACED THROUGHOUT THE CONVENTION CENTER WILL BE RESTAURANT, LOUNGE AND
RETAIL SERVICES WHICH WILL FURTHER ADD TO THE USER POTENTIAL HOSPITALITY
AND AMENITY OF THE CENTER. OUR FOOD SERVICE FACILITIES WILL BE CAPABLE
OF MEETING THE NEEDS OF THE PRE -FUNCTION CONVENTION AREAS, THE CONFEREES
AND CONVENTIONEERS, AND THE DINING PUBLIC.
12
101 i611 iI lilllVi6iEsi alEVliIV+6iiIIJIIIVIJi,iVl'I', lil il:Vu !.II Il l,u hl I'i,i 1641 hilli.6,11111111111iiilli,in.
THE HOTEL TOWER IN THE INTERNATIONAL CENTER WILL PROVIDE A TOTAL ACCOMMOD-
ATIONS AND SERVICES PACKAGE.
THE GOALS AND OBJECTIVES FOR THE CONVENTION CENTER , PREVIOUSLY STATED BY
THE CITY, INCLUDE:
1. THE CREATION OF A CENTER WHICH WILL INITIATE THE REVITALIZATION OF DOWN-
TOWN MIAMI.
2. A CENTER OF QUALITY AND SOPHISTICATION OF UNIQUE DESIGN.
.3. A CONVENTION CENTER WHICH WILL ENCOURAGE NEW DEVELOPMENT OF HOTELS
AND COMMERCIAL FACILITIES DOWNTOWN.
4. THE DEVELOPMENT OF A FACILITY WITH INTERNATIONAL FLAVOR THAT WILL
ENCOURAGE LATIN AMERICAN USAGE.
5. A FACILITY WHICH WILL BE UTILIZED BY THE COMMUNITY IN ADDITION TO
CONVENTION USE.
THESE GOALS WILL BE FULFILLED BY THE INCLUSION OF THE HOTEL TOWER IN THE
JAMES L. KNIGHT/CITY OF MIAMI INTERNATIONAL CENTER, A MAJOR URBAN AC-
COMPLISHMENT FOR MIAMI.
i3
•
py1Gll:.
CONCEPT OF SPECIALTY AND RETAIL
THE RETAIL AND RESTAURANT FACILITIES WITHIN THE MIAMI CONVENTION AND
CONFERENCE CENTER MUST ADDRESS THREE DISTINCT AUDIENCES:
1, THE DOWNTOWN WORKING POPULATION
TO CAPTURE A SUSTAINING PORTION OF THIS AUDIENCE, THE RETAIL AND RESTAURANT
COMPLEX MUST OFFER A SUFFICIENTLY BROAD SELECTION OF BOTH FOOD AND ACCESSORY
FASHION MERCHANDISE AT MODERATE PRICES; ADDITIONALLY, A SECOND LEVEL OF
AMBIANCE MUST BE CREATED WITHIN THE CAFES TO CAPTURE A SEGMENT OF THE AFTER -
WORK CROWD IN THE AREA FRONTING THE RIVER WALK; THAT IS, THE CAFES MUST HAVE
STRONG PERSONALITIES WITH DISTINCTLY RECOGNIZABLE THEMES,
CONVENTION AND CONFERENCE ATTENDEES
THIS AUDIENCE IS TRANSIENT AND WILL REQUIRE SUFFICIENT VISUAL VARIETY OF
RESTAURANT FACILITIES FOR AN EXPECTED STAY OF 2-3 DAYS, COMBINED WITH A
SELECTION OF IMPULSE ITEMS FOR TAKE-HOME GIFTS, SPECIALTY RETAIL CAN SERVE
THIS AUDIENCE PARTICULARLY WELL, THE CONVENTION/CONFERENCE USERS WILL ALSO
CREATE THE LARGEST DEMAND FOR BANK, REALTY, TRAVEL AND SUNDRY FACILITIES --
BUT THESE SERVICES SHOULD BE STRICTLY DESIGNED AS CONVENIENCE FACILITIES,
PREFERABLY GROUPED IN A COHESIVE ZONE,
CONVENTION PARTICIPANTS WILL BECOME WALKING BILLBOARDS FOR MIAMI IF THEY
PERCEIVE THAT THEIR STAY AT TIME CENTER WAS BOTH INTERESTING AND CONVENIENT,
3. THE GREATER MIAMI POPULATION AND VISITORS
PARTICULARLY APPROPRIATE TO THIS GROUP IS THE CONCENTRATED FOCUS OF SPECIALTY
MERCHANDISE AND UNIQUELY THEMED RESTAURANTS WHICH ENJOY SOME CONNECTEDNESS
WITH THE RIVERFRONT.
THIS AUDIENCE IS NOT AN IMMEDIATE TARGET FOR THE CENTERS COMMERCIAL AREAS,
BUT CAN BE ADDRESSED BY A CAREFULLY CHOSEN MERCHANDISE AND RESTAURANT MIX.
1
III
I
14
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1
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I~�9ud4kwiLid.nkPryw,a I lid Ili.11
RECALL THAT THE REGULAR EPISODIC ANNOUNCEMENTS OF NEW CONFERENCES AND
CONVENTIONS - - STRENGTHENED BY THE REAL NEWS STORIES THEY MAY GENERATE - -
CONSTITUTE A BUILT-IN COMMERCIAL PROMOTION SYSTEM FOR THE RETAIL AND
RESTAURANT AREAS.
KEY CATEGORIES OF THE RETAIL / RESTAURANT COMPLEX
WE RECOGNIZE THE COMMON SENSE LOGIC OF MAINTAINING PLAN FLEXIBILITY FOR THE RETAIL
AND RESTAURANT AREAS 50 THAT THEY WORK IN AN EFFICIENT AND COMPATIBLE MANNER WITH
THE HOTEL. HENCE, SPECIFIC PLAN LAYOUTS AND LOCATIONS FOR THESE FACILITIES IS
NECESSARILY PREMATURE,
BUT THE CONCEPTS BEHIND THESE FACILITIES MUST BE CONSIDERED IN ADVANCE OF A FINAL
PLAN,
THE SCHEMATIC RETAIL AND RESTAURANT PLAN COULD CONTAIN THE FOLLOWING ELEMENTS:
I, FIRST CLASS RESTAURANT
THEMED LIGHTLY AROUND FRESH SEAFOOD, THE FIRST CLASS RESTAURANT WITH A GENEROUS
LOUNGE/BAR SHOULD HAVE A PRIME VIEW OF THE RIVER WALK, A STRONG FEATURE SHOULD
BE MADE OF FRESH PRODUCT, WITH PERHAPS DEMONSTRATION COOKING, THE POSSIBILITY
OF FRESH FISH DELIVERY AT QUAYSIDE SHOULD BE SERIOUSLY EXPLORED,
2, THE HEMISFARE
A COLLECTION OF 5-7 SPECIALTY FOOD KIOSKS WITH DRAMATICALLY DESIGNED GRAPHICS
AND FRONTS COULD BE CLUSTERED AROUND A LARGE SEATING AREA. THIS MINI -COMPLEX
SHOULD HAVE A DISTINCT POINT OF VIEW, WHILE REPRESENTING A BROAD CHOICE OF
ENTREE SELECTIONS, THE CENTRAL IDEA WOULD BE TO FEATURE FOODS OF THE SOUTHERN
AMERICAN GULF ZONES SUPPLEMENTED BY THE CUISINES OF SOUTH AMERICA, MEXICO AND
THE CARIBBEAN. NO OTHER FOOD COMPLEX OF THIS KIND IS CURRENTLY DEVELOPED IN
THE MIAMI AREA.
li
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iiniiiiidllld1lf1llii.i!LIVIIVJAIIIIi
3. LE BAZAAR INTERNATIONALE
A COLLECTION OF SPECIALTY MERCHANDISE IN SMALL BOUTIQUES, INCLUDING A
SPECIAL CONCENTRATION ON GIFTS, SPECIALTY JEWELRY, TOYS AND ACCESSORY
FASHION WEAR. THIS COLLECTION OF ENTERPRISES SHOULD HAVE DISTINCT
MERCHANDISING PERSONALITIES; FOR EXAMPLE, A SHOP OF UNUSUAL ONE -OF -A -
KIND GIFTS TITLED "THE GUILTY CONSCIENCE" FOR THE TRADITIONAL LAST-MINUTE
EXCITING CONFEREE OR VISITOR,
4, THE CONVENIENCE GROUP
THIS COMPONENT SHOULD CONTAIN A MODERATE -PRICED COFFEE SHOP, AIRLINE
AND TRAVEL BUREAU, BRANCH BANK, MENDS HAIRSTYLING SALON, SUNDRY AND DRUG-
STORE AND BOUTIQUE -SIZED BEAUTY SALON, THE CONVENIENCE GIaUP SHOULD BE
CLEARLY IDENTIFIED AS A SEPARATE ZONE REINFORCING THE PERCEPTIONS FOR
VISITORS OF AN ORGANIZED, WELL -PLANNED CENTER,
16
III 11, 1,11 1111 1 III 1111110111111111111•111111,111111
47,0120:
I I II ."1 I !I 11111111T I 11.11111 .
III
1111
SUMMARY
PROPERLY EXECUTED, WITH STRONG DESIGN STANDARDS AND IMAGINATIVE
GRAPHICS, THE RETAIL AND RESTAURANT COMPONENTS OF THE J. L. KNIGHT
INTERNATIONAL CENTER CAN SERVE THE THREE AUDIENCES WE HAVE DEFINED - -
WHILE ESTABLISHING AN APPROPRIATE QUALITY LEVEL FOR THE FIRST PHASE.
MOST IMPORTANT, THE SECOND PHASE COMPONENTS CAN EASILY COMPLEMENT
THE CATEGORIES IN PHASE ONE WITHOUT UNDUE COMPETITIVE OVERLAP.
WE BELIEVE THESE CATEGORIES OFFER GREAT PLANNING FLEXIBILITY DURING
THE DESIGN DEVELOPMENT STAGES OF THE BASE STRUCTURE AND THE HOTEL,
WHILE PROVIDING A DISTINCT AND EASILY COMPREHENDIBLE MERCHANDISING
POINT OF VIEW.
17
,114.11 b r
sw
PHASE B DEVELOPMENT
I9�kC.v.fili 1 s
WE ENVISION PHASE B DEVELOPMENT AS BEING AN INTEGRAL AND VITALLY IM—
PORTANT PART OF THE EVENTUAL TOTAL FUNCTIONAL DEVELOPMENT OF THE COMPLEX.
THE MANNER IN WHICH THIS PHASE IS EXECUTED WILL IMPACT THE SUCCESS OF
PHASE A. IT MUST PROPERLY BE EXECUTED TO CAUSE THE COMPLEX TO FUNCTION
AS AN INTERNATIONAL CENTER OF TRADE, COMMERCE AND EDUCATION. THUS, WE
MUST CONDITION OUR PROPOSAL UPON THE RIGHT TO DEVELOP PHASE B.
WE WOULD ANTICIPATE AN IMMEDIATE DISCUSSION OF THE IMPLEMENTATION REQUIRE—
MENTS OF PHASE B IN ORDER TO ASSURE TIMELY EXECUTION OF SAME.
OUR CURRENT THOUGHTS RELATIVE TO THIS PHASE ENCOMPASS ADDITIONAL EXCITINGLY
AND ESTHETICALLY EXECUTED SPECIALTY RETAIL; STRUCTURED PARKING FOR AT LEAST
1,000 AUTOMOBILES; ACCOMMODATION FOR A PEOPLE MOVER STATION TO TIE INTO THE
TOTAL CITY SYSTEM; AN INTERNATIONAL SATELLITE AIRLINE TICKETING AND SERVICE
TERMINAL; AND THE POSSIBILITY OF A WORLD TRADE CENTER BUILDING VORE BEQ EQUIVALENT
VALEN
FACILITY COMPLIMENTING THE CHARACTER OF THE TOTAL COMPLEX.
E THE
500 LUXURY ROOMS AND HOSPITALITY SUITES CONSTRUCTED IN PHASE A IS SUFFICIENT
TO PROPERLY SERVE THE COMPLEX WHEN TAKEN INTO CONSIDERATION WITH OTHER
PROPOSED HOTEL DEVELOPMENTS WITHIN THE AREA.
WE ESPECIALLY APPRECIATE YOUR UNTIRING ASSISTANCE AND THAT OF MANY OTHER INTERESTED
US EVALUATE THE NEED AND
ENTS OF THIS MOST
VIBRANT LS IN MIAF IN FACILITY.
HELPING WOULD ALSO BE HONORED TO ASSIST IIN THE DEVELOPMENT
VIBRANT AND NEEDED FACILIT ,
OF THE J. L. KNIGHT INTERNATIONAL CENTER.
18
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i
PARK
BISCAYNE BAY
21
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miami rir�a
the convention co 1 x
center will be a si•�i�ica
element in the r i alikati
of the downtown corgi
bayfron#
park
biscayne bay
22
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195
7riVer
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//.
the center will communicate
through air conditioned
shopping arcades with
existing shopping areas and
hotels.
24
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ISGAYNE SOULE 'A WAY
• •
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LEGEND
,,,,,,,: public parking
Privately owned
1=390 8=150
2=387 9=266
3=260 10=500
4=260 11=232
5= 25 12=310
6= 32 13=106
7=157 14=120
Total 3286
publicly owned
_ public parking
z -
CLAUONTCW %9lAND
1= 20
2= 73
3=127
4 =4 27
Total 647,
Public/Private
parking in area
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2=1100
3= 90
Total
4=555
5=400 e
6= 60
2673
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MEMol2ANDUM
Listing the companies and their leaders who will be
significant in a new organization to be known as
"MIAMI ASSOCIATES, LTD."
in the development of the
CITY OF MIAMI/UNIVERSITY OF MIAMI/
JAMES L. KNIGHT INTERNATIONAL CENTER
and
a statement from Earl Worsham,
of Worsham Brothers Company, Inc.
From:
Information Enterprises
Morris McLemore
(305) 374-3066
MEMORANDUM: In re development of The City of Miami/University of Miami/
James L. Knight International Center, of Miami, Florida.
The development group (to be known as Miami Associates, Inc.)
making a proposal for the design and construction of a first-class,
500-room hotel, with attendant support facilities, including an unique
shopping complex, along with the construction of the base facility
that will incorporate the auditorium, meeting rooms, and other needs of
the City of Miami and Continuing Education facilities for the University
of Miami, is as follows:
1) WORSIIAM BROTHERS COMPANY, INC., of Atlanta, Georgia --'this
well -established firm will be the coordinating member of the development
group, serving between TURNER, ROONEY and the other members. WORSIIAM
BROTHERS was founded in Knoxville, Tennessee, in 1877 by Earl Worsham's
grandfather and the elder Worsham's brother. It operated as a general
contractor continuously until approximately 1965, when Earl Worsham moved
the company's activities into the development field, on a national and
international scale.
Mr. Worsham has completed development programs valued in excess of
$250,000,000. operating throughout the United States. Many of these
programs have been implemented with municipalities and/or for the benefit
of public bodies.
Mr. Horsham developed the Myatt Regency hotel in Knoxville, Tennessee,
on Urban Re -Development land, in conjuction with the Convention Center
Project in Knoxville. Earl Worsham recently has been involved in the
development of a Myatt Regency Hotel in conjunction with a convention
center, retail and mixed -use development in Columbus, Ohio. The basic
elements of this project were put together by Mr. Worsham but the
development rights to the project have been sold to the John W. Galbreath
Company of Columbus.
pagetwo---
it is anticipated that the development of this project will proceed.and
construction will begin in the latter part of this year, or early 1978.
Mr. Worsham's continued involvement in the Columbus project, due to the
sale, will he limited, although there is a contractual relationship
between the Galbreath firm and Worsham during the development period.
2) TURNER DEVELOPMENT COMPANY, of Chicago, a wholly -owned
subsidiary of TURNER CONSTRUCTION CO., of New York --
The Turner Company was founded in 1902 and today is in the top echelon
of the construction industry of the United States. Turner is rated
among the top five companies operating within this country; it is a
public company and has notably substantial financial strength. Turner
has heen involved in the construction management and development of
22 hotel projects of prominence, among them:
Four Hilton and three Marriott hotels; the 800,000 sq. ft. Hong
Kong Hotel; the Century Plaza, in Los Angeles, (1,482,000 sq. ft.),
a hotel in Grand Rapids. Michigan, of 1,180.000 sq. ft.; the Cleveland
Convention Center Hotel (509,000 sq. ft.); the United Nations Development
Corp.'s hotel and office building (583,000 sq. ft.), etc.
Turner's expertise lies in the management coordination of all the
various elements necessary to bring a project into fruition. Although
a number of individuals of the various offices of Turner will be working
on this Miami project, with the other members of the development group,
the principal, responsible party for the Turner involvnrent will be
James A. Griffis, of Chicago. Mr. Griffis' background includes the
administration of on -going functions for Turner and the investigation
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page three ---
of new projects for possible equity positions.
As Turner's vice-president and general manager, he supervised the
development of 990 Lake Shore Drive, Chicago, an outstanding high-rise
condominium and now is developing another at 1100 Lake Shore, Chicago.
He has been with Turner Development since 1972.
3) FRANK J. ROONEY, General Contractors of Miami and Ft. Lauderdale--
Mr. Bill F. Southern is the captain of the team that will be in charge
of the construction implementation of this major complex. Mr. Southern
also will act as principal liaison between the City of Miami, the
university, the architectural team, and the group's other members.
The FRANK J. ROONEY firm has a long and distinguished history of
accomplishment in construction projects in South Florida. It also has
been highly successful in other parts of the nation. This organization
has been particularly successful in working with city administrations and
private developers in the construction implementation of their important
programs, within the strict budgetary limitations required by the
economics of the projects.
4) HALCYON, LTD., of Hartford, Conn., and Montreal --
Headed by Michael Buckley, this organization has been involved in some
of the most exciting and sophisticated specialty/retail developments
in the United States. Mr. Buckley wi11 be in charge of the specialty/
retail areas of the JAMES L. KNIGHT 1NTERNATIONAI. CENTER. He has just
completed the very important "Market Place", housed within the new
CitiBank Tower, in downtown Manhattan. Mr. Buckley also was involved in
a 210,000 sq. ft. inner city, enclosed mall developed by Aetna Life
page four --
Insurance Co., in Hartford, Conn. He has wide experience in dealing
with municipalities and the revitalization of their downtown retail
districts.
S) FERENDINO/GRAFTON/SP1LLIS/CANDELA, Architects, Engineers and
Planners, of Miami and Atlanta --An outstanding firm in the Miami area
since its creation as PANCOAST AND SII3BERT, in 1926. Winners of
dozens of design awards, including:
South Campus of Miami -Dade Community College Fine Arts Building,
Miami -Dade CC; North Campus New Law Center, University of Florida;
University of Miami Mailman Center; Miami -Dade Community College Downtown
Campus; Westinghouse Corp., Power Systems Div. Plant, Pensacola. This
representative sample of the firm's capabilities also indicates a long
and satisfactory involvement with publicly funded and/or related projects
and an awareness of special economic circumstances of such activity.
The F/G/S/C team is headed by President Edward G. Grafton, with
llilario F. Candela, Senior Vice President, the primary participant in
the .James L. Knight International Center project. Mr. Candela was
involved in the design of several of the projects mentioned above and
many others; he has been responsible for programming, master planning and
architectural design of large institutional, commercial, educational and
industrial projects.
CONCLUSION: The characteristic common to all the organizations and
elements of the consortium (to be known as MIA.MI ASSOCIATES INC.) might
be termed "responsive engineering" --the necessary blending of economic
factors, development ability, market programing expertise, management
skills, cost control, aesthetic values and construction experience.
These will combine in the DAMES L. KNIGHT INTERNATIONAL CENTER to
MIEW
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page five ---
attain a result that will be a source of pride to Miamians now and for
generations to come.
The teams of the consortium also offer another vital ingredient to
the center's creation: Each is fully staffed and ready to participate
from Day One forward....there will be no reorganization or change in
direction of any associated firm.
This will eliminate the possibility of lost time, motion and
impetus at any stage of the project activity.
We are available for any questions or facts of interest to members
of this commission or its agents.
STATEMENT BY EARL WORSHAM
Chairman and President, Worsham Brothers
In making our presentation to the City of Miami Commission-- and
to the hundreds of thousands of people it represents -- Worhsam Brothers
Company, Inc., looks with dedication and pride toward the opportunity
that lies before us.
We are convinced the creation of the James L. Knight International
Center in the heart of Miami will be a landmark in the life of this great
community. It will touch all aspects of the culture represented by Miami's
diverse peoples.
With this in mind, it is encumbent upon us to identify ourselves
and to request of you that you consider us friendly neighbors who will do
our utmost to foster only good things in our common cause.
As indicated in the memorandum to the Miami City Commission, Worsham
Brothers was founded in Knoxville, Tennessee, in 187, by rye grandfather
and his brother and operated there as a general contractor continuously
until approximately twelve years ago. I then moved the company into the
development field, on a national and international scale, with its
headquarters in Atlanta.
Since then, Worsham Brothers and its subsidiary partnerships and
corporations have completed development programs valued in excess of
$250,000,000 in the United States; many of these programs were implemented
with municipalities. and/or for the benefit of public bodies.
page two ----
We developed the Hyatt Regency Hotel in Knoxville, on Urban
Re -Development land, in conjunction with the Convention Center Project.
More recently, I was involved in the development of a Hyatt Regency Hotel
in conjunction with a convention center, retail and multi -use development
in Columbus, Ohio.
The basic elements of this project-- including the financial
arrangements for a 714-room hotel-- were assembled by our organization;
since then, the development rights to the project have been sold to the
John W. Galbreath Company, of Columbus, Ohio, an event which will ensure
the completion of this valuable addition to the city.
The Miami opportunity promises to be equal to any contemplated
anywhere in America, for the site-- alongside the Miami River, in the
traditional business area and immediately available to the sparkling new
buildings of Brickell Avenue-- is ideal for the entertainment of visitors
and the service of all elements of the Dade community.
Worsham Brothers Company is looking forward to the creation of
something truly beautiful and useful for the City of Miami, the University
of Miami and for all the people who live or visit in South Florida