HomeMy WebLinkAboutLegislationFile Number: 15-01466
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
RELATING TO THE PORT OF MIAMI TUNNEL AND ACCESS IMPROVEMENT
PROJECT ("PROJECT") AND THE MASTER AGREEMENT ("MASTER
AGREEMENT"), DATED AS OF FEBRUARY 15, 2008, FOR THE PROJECT AMONG
THE FLORIDA DEPARTMENT OF TRANSPORTATION ("FDOT"), MIAMI-DADE
COUNTY ("COUNTY"), AND THE CITY OF MIAMI ("CITY"), AUTHORIZING THE
CITY MANAGER TO PAY TO FDOT THE CITY'S FINAL CONTRIBUTION SHARE OF
INTEREST IN THE AMOUNT OF ONE MILLION, FIVE HUNDRED TWELVE
THOUSAND, ONE HUNDRED EIGHTY-NINE DOLLARS AND TWENTY CENTS
($1,512,189.20) ("C TY'S FINAL PAYMENT") AND APPROPRIATING THE CITY'S
FINAL PAYMENT AMOUNT FROM THE GENERAL FUND'S NON -DEPARTMENTAL
ACCOUNT(S); FURTHER AUTHORIZING THE CITY MANAGER AND ALL OTHER
NECESSARY CITY EMPLOYEES TO (A) EXECUTE SUCH REQUIRED
RE -APPROPRIATIONS WITHIN THE GENERAL FUND'S NON -DEPARTMENTAL
ACCOUNT(S) AS NECESSARY TO FUND THE CITY'S FINAL PAYMENT, AND (B)
EXECUTE SUCH OTHER DOCUMENTS, INCLUDING BUT NOT LIMITED TO,
RELEASES AND ACKNOWLEDGEMENTS BY FDOT OF THE CITY'S FULL
PERFORMANCE OF ITS FINANCIAL OBLIGATIONS, AS MAY BE REQUIRED
UNDER THE AGREEMENT, SUBJECT TO CITY ATTORNEY APPROVAL, TO
EVIDENCE THE CITY'S FINAL PAYMENT AND FULFILLMENT OF ALL FINANCIAL
OBLIGATIONS AND TO RELEASE THE CITY FROM ANY FURTHER FINANCIAL
OBLIGATIONS FOR THE PROJECT AND UNDER THE MASTER AGREEMENT;
RATIFYING, APPROVING, AND CONFIRMING CERTAIN NECESSARY ACTIONS
BY THE CITY MANAGER AND DESIGNATED CITY DEPARTMENTS IN ORDER TO
UPDATE THE RELEVANT FINANCIAL CONTROLS AND COMPUTER SYSTEMS IN
CONNECTION WITH THE CITY'S FINAL PAYMENT.
WHEREAS, the Port of Miami Tunnel and Access Improvement Project ("Project") has been
constructed in a Public Private Partnership undertaken by the State of Florida Department of
Transportation ("FDOT") which includes a bored tunnel through Watson Island to the Port of Miami on
Dodge Island, roadway improvements on Dodge and Watson Islands, and widening of the MacArthur
Causeway Bridge and now serves to improve access to and from the Port of Miami, serving as a
dedicated roadway,and connector linking the Port with the MacArthur Causeway and I-395; and
WHEREAS, FDOT previously requested for the City of Miami ("City") and Miami -Dade County
("County") to each contribute to the Public Private Partnership; and
WHEREAS, FDOT, the City and the County entered into a Master Agreement, dated as of
February 15, 2008 ("Master Agreement"), which set forth arrangements for contributions by FDOT, the
City and the County; and ,
WHEREAS, FDOT, pursuant to a competitive bidding process, selected a consortium
("Concessionaire") to design, construct, operate, maintain and finance the Project through such Public
City of A lanti Page I of 3 File Id: 15-01466 (Hersion: I) Printed On: 1111212015
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Resolution
File Number: 15-01466
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
RELATING TO THE PORT OF MIAMI TUNNEL AND ACCESS IMPROVEMENT
PROJECT ("PROJECT") AND THE MASTER AGREEMENT ("MASTER
AGREEMENT"), DATED AS OF FEBRUARY 15, 2008, FOR THE PROJECT AMONG
THE FLORIDA DEPARTMENT OF TRANSPORTATION ("FDOT"), MIAMI-DADE
COUNTY ("COUNTY"), AND THE CITY OF MIAMI ("CITY"), AUTHORIZING THE
CITY MANAGER TO PAY TO FDOT THE CITY'S FINAL CONTRIBUTION SHARE OF
INTEREST IN THE AMOUNT OF ONE MILLION, FIVE HUNDRED TWELVE
THOUSAND, ONE HUNDRED EIGHTY-NINE DOLLARS AND TWENTY CENTS
($1,512,189.20) ("C TY'S FINAL PAYMENT") AND APPROPRIATING THE CITY'S
FINAL PAYMENT AMOUNT FROM THE GENERAL FUND'S NON -DEPARTMENTAL
ACCOUNT(S); FURTHER AUTHORIZING THE CITY MANAGER AND ALL OTHER
NECESSARY CITY EMPLOYEES TO (A) EXECUTE SUCH REQUIRED
RE -APPROPRIATIONS WITHIN THE GENERAL FUND'S NON -DEPARTMENTAL
ACCOUNT(S) AS NECESSARY TO FUND THE CITY'S FINAL PAYMENT, AND (B)
EXECUTE SUCH OTHER DOCUMENTS, INCLUDING BUT NOT LIMITED TO,
RELEASES AND ACKNOWLEDGEMENTS BY FDOT OF THE CITY'S FULL
PERFORMANCE OF ITS FINANCIAL OBLIGATIONS, AS MAY BE REQUIRED
UNDER THE AGREEMENT, SUBJECT TO CITY ATTORNEY APPROVAL, TO
EVIDENCE THE CITY'S FINAL PAYMENT AND FULFILLMENT OF ALL FINANCIAL
OBLIGATIONS AND TO RELEASE THE CITY FROM ANY FURTHER FINANCIAL
OBLIGATIONS FOR THE PROJECT AND UNDER THE MASTER AGREEMENT;
RATIFYING, APPROVING, AND CONFIRMING CERTAIN NECESSARY ACTIONS
BY THE CITY MANAGER AND DESIGNATED CITY DEPARTMENTS IN ORDER TO
UPDATE THE RELEVANT FINANCIAL CONTROLS AND COMPUTER SYSTEMS IN
CONNECTION WITH THE CITY'S FINAL PAYMENT.
WHEREAS, the Port of Miami Tunnel and Access Improvement Project ("Project") has been
constructed in a Public Private Partnership undertaken by the State of Florida Department of
Transportation ("FDOT") which includes a bored tunnel through Watson Island to the Port of Miami on
Dodge Island, roadway improvements on Dodge and Watson Islands, and widening of the MacArthur
Causeway Bridge and now serves to improve access to and from the Port of Miami, serving as a
dedicated roadway,and connector linking the Port with the MacArthur Causeway and I-395; and
WHEREAS, FDOT previously requested for the City of Miami ("City") and Miami -Dade County
("County") to each contribute to the Public Private Partnership; and
WHEREAS, FDOT, the City and the County entered into a Master Agreement, dated as of
February 15, 2008 ("Master Agreement"), which set forth arrangements for contributions by FDOT, the
City and the County; and ,
WHEREAS, FDOT, pursuant to a competitive bidding process, selected a consortium
("Concessionaire") to design, construct, operate, maintain and finance the Project through such Public
City of A lanti Page I of 3 File Id: 15-01466 (Hersion: I) Printed On: 1111212015
File Number 15-01466
Private Partnership and entered into a Concession Agreement, dated as of October 15, 2009
("Concession Agreement"); and
WHEREAS, the City's contributions under the Master Agreement consisted of (a) a cash
contribution in the principal amount of $50 million, to be paid in either a lump sum payment or annual
payments as stipulated in the Master Agreement, and (b) City rights-of-way on Watson Island valued
at $5 million; and
WHEREAS, the City made its lump sum payment of $50 million which also included an interest
component to accrue thereon from the effective date of the Concession Agreement through the date of
the lump sum payment on January 5, 2011, but payable later after completion of the Project; and
WHEREAS, FDOT and the City agree that One Million, Five Hundred Twelve Thousand, One
Hundred Eighty -Nine Dollars and Twenty Cents ($1,512,189.20) ("City's Final Payment") is the City's
final contribution amount of accrued interest on the lump sum payment from October 15, 2009 until
January 5, 2011, at the "Annual Rate", as defined in the Master Agreement to be "the state fiscal year
net average annual rate of interest paid on funds in the Florida Treasury Account administered by the
Florida Department of Financial Services, or its successor, which average shall be calculated using the
rates between the date payment is due (October 15, 2009) and the date payment is made (January 5,
2011), with interest compounded annually at June 30th"; and
WHEREAS, FDOT and the City further agree that upon receipt by FDOT of the City's Final
Payment, FDOT shall release the City and acknowledge that the City has fulfilled all of its financial
obligations pursuant to the Master Agreement;
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. Regarding the Project and pursuant to the Master Agreement, the City Manager is
authorized{1} to pay to FDOT the City's final contribution share of interest in the amount of One Million,
Five Hundred Twelve Thousand, One Hundred Eighty -Nine Dollars and Twenty Cents ($1,512,189.20)
("City's Final Payment") and to appropriate the City's Final Payment amount from the General Fund's
Non -Departmental Account(s).
Section 3. The City Manager and all other necessary City employees are further authorized{1} to
(a) execute such required re -appropriations within the General Fund's Non -Departmental Account(s)
as necessary to fund the City's Final Payment, and (b) execute such other documents, including but
not limited to, releases and acknowledgments by FDOT of the City's full performance of its financial
obligations, as may be required under the Master Agreement, subject to City Attorney approval, to
evidence the City's Final Payment and fulfillment of all financial obligations and to release the City from
any further financial obligations for the Project and under the Master Agreement.
Section 4. Certain necessary actions by the City Manager and designated City Departments in
order to update the relevant financial controls and computer systems in connection with the City's Final
Payment are ratified, approved, and confirmed.
Section 5. This Resolution shall become effective immediately upon its adoption and signature of
City of A7 an i Page 2 of 3 File Id. 15-01466 Olersion: 1) Printed On: 1111212015
File Number:• 15-01466
the Mayor.{2}
APPROVED AS TO FORM AND CORRECTNESS:
VICTO°RIA MEND
CITY ATTORNEY
Footnotes:
{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 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.
City of Mianri Page 3 of 3 File Id: 15-01466 (Version: 1) Printed On: 1111212015