HomeMy WebLinkAboutM-76-0586FILE MEMORANDUM
June 9► i976
The City of Miami intends to construct a downtown con=
Vention center upon property purchased by the CiLy known as
the Feinberg property. The administration and operation of
the facility would be effected through establishment of a new
administrative department by passage of an ordinance creating
and defining the responsibilities of a five person advisory
committee.
The City Attorney has advised the administration that the
University of Miami lawfully could enter into an agreement
with the City whereby a portion of the convention complex
would be constructed by the City in consideration of the
advanced payment of rent for a 30 .year lease with a 30 year
renewal option at a cost of $2,800,000.00 (+) to be paid by
the University.
Under the terns of the proposed agreement, the City would
do the f.ol l ol•: i nr} :
1. Construct $2,800,000.00 (+) worth of conference
center facilities and turn them over to the University for.
30 years with an additional 30 year renewable option. The
utilization of the conference center facilities is to he
under the full control of the University and will be named by
the University.
2. With the consent of the University, Lease the air
rights over the facility for construction of a hotel, recogniz-
ing that the presence of a hotel on site is essential for the
successful operation of the conference center.
3. Adopt a re: 1 ls;t:lc time schedule for completion of
design an:i con:;', ru7:1 ion of the f�rci..1ity.
The advance payments
wi.l.l. }_);' keyed to this schedule based upon pCrcentag of com-
pletion.
4, Pay for relocation costs and d=:i•'cages Lo the tllli ver s1 fy
in case the City iibr0CIaLes the agrl'1C.`G.C'i1t,
-2-
5, Charge the University for the cost.`; of services and
Utilities at true cost plus establish H bnrleti and overhead.
6. Pay the University for technical services at true
Cost plus established burden and ot: erhctd .
7. Accept the fiscal responsibility of the operation
of the total facility..
8. Pay an additional architect's/engineer's fee of
$180,600.00 (+) (6.45° of $2,800,000.00) for the additional
construction which is to be reimbursed to the City by the
University.
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MIAMI CONVENTIC)N GEN- M'r2 ` CE--ZI{S1.1OP
JUNE 7; 1976
AGENDA
1. INTRODUCTION
I. REVIE\V AND UPDATE
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CI rY'S co:>t..s & o:;ui:c rivla
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III. Ih1P0;?"I'! NICE OF UNIVERSITY OF MIAMI PARTICIPATION
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`IL, PttMntt:l 1)UM
June 1. Mt
The City of Miami intends to construct a downtown Con.,
vention center upon property purchased ty the City known as
the Feinberg property. The administration and Operation of
the facility would be effected through establishment of a new
administrative department by passage of an ordinance creating
and defining the responsibilities of a five person advisory
committee.
The City Attorney has advised the administration that the
University of Miami lawfully could enter into an agreement
with the City whereby a portion of the convention complex
would be constructed by the City in consideration of the
advanced payment of rent for a 30 year lease with a 30 year
renewal option at a cost of $2,800,000.00 (+) to be paid by
the University.
Under the terms of the proposed agreement, the City would
do the following:
1. Construct $2,800,000.00 (+) worth of conference
center facilities and turn them over to the University for
3.0 years with an additional. 30 year renewable option. The
utilization of the conference center facilities is to be
under the full control of the University and will be named by
the University.
2. With the consent of the University, lease the air
rights over the facility for construction of a hotel, recogniz-
ing that the presence of a hotel on site is essential for the
successful operation of the conference center.
3. Adopt a realistic time schedule for completion of
design and construction of the facility. Tho advance Fiyn►ents
wilt bL` Y.ejed to this sehedulo bawl upon tercel;t•ag..as of com-
pletion.
4. Pay fox. relocation cost and damages to the tin veri t_y
in case the City gbrogat.es the agmeme2 t,
5. Charge the University for the costs of services and
utilities at true cost plus established burden and overhead.
G. Pay the University for technical services at true
cost plus established burden and overhead.
7. Accept the fiscal responsibility of the operation
of the total facility..
8. Pay an additional architect's/engineer's fee .of
8180,600.00 (4) (6.4 % of $2,800,000.00) for the additional
construction which is to be reimbursed to the City by the
University.